‘Complexity’ Predicts Nations’ Future Growth – Real Time Economics – WSJ


skd283551sdcAnyone who has read anything I have written or commented upon in relation to the subject of complexity could be forgiven for thinking I view this as a major breakthrough for the cause. Well I do and I don’t!

In some respects it is common sense to say that you must know how to do something before you do it and that the more often you do it the better you get at it. Continually striving, or being driven, for greater efficiencies, exploring new techniques, recruiting/training employees, etc. in an effort to minimise the required inputs or maximise the return on the outputs. Apply it to any business,  at a variety of scales. Such is the fractal self-similarity of complex systems!

It is this very "universality" that confirms the significance of our (Ontonix) model-free solutions. Our technology transcends business sectors and can benefit firms large and small. These are the reasons  WHY we are “fanatical” about spreading the message that measuring complexity brings insight far beyond what even these distinguished Academics appreciate!

Our [Ontonix] work has shown there is much to be learnt and advantage to be gained by monitoring and managing a system within safe operating levels.

But before anyone would be so foolish as to believe the “crystal ball” hype I would remind you of Zadeh’s Principle of Incompatibility:

“High complexity is incompatible with high precision”

 

Economists at Harvard University and Massachusetts Institute of Technology have just released what they claim to be the crystal ball of economics: a model for predicting a nation’s future growth more accurately than any other techniques out there.

The Atlas of Economic Complexity” ranks 128 nations based on their “productive knowledge” — the skills, experience and general know-how that a given population acquires in producing certain goods. Countries with a high score in the report’s “economic complexity index” have acquired years of knowledge in making a variety of products and goods and also have lots of room for growth. Essentially, the more collective knowledge a country has in producing goods, the richer it is — or will be.

via ‘Complexity’ Predicts Nations’ Future Growth – Real Time Economics – WSJ.

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