Complexity: Global Banking – “The Sources of Unpredictability”


I feel it reasonable to reblog my own post (from March 2010) since someone else has identified the wisdom in some comments emanating from Andy Haldane (and Mervyn King) at Bank of England.

Complexity economics and the global financial system

It is worrying though, that the speech referred to took place almost 2 years ago! Still, although Global banking can be brought to it’s knees in a matter of hours – thanks to the systemic fragility that it has created and has been correctly identified by these (and other) learned gents – Rome wasn’t built in a day!!!

Complexity economics and the global financial system

Complexity: Global Banking - “The Sources of Unpredictability” Image via Wikipedia A recent interesting speech by Mervyn King, Governor of the Bank of England, on the “Uncertainty in Macroeconomic Policy Making: Art or Science?” discusses the sources of unpredictability. He goes on to claim that the sources of unpredictability are at least three: “First, it is very difficult to assign probabilities […] This is not the fi … Read More

via Get “fit for randomness” [with Ontonix UK]

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