Can Complexity Thinking Fix Capitalism?
Tuesday, 24 September, 2013 2 Comments
See on Scoop.it – Complexity & Resilience
Can Complexity Thinking Advance Management and Fix Capitalism?
“An intense effort at regulating the banks has side-stepped the root cause—a lack of transparency—and instead has tried to build fences around the problem. But fences won’t help in the case of a global financial meltdown: the amounts of money involved are just too large. If we want to avoid an even larger meltdown in future, the only solution is to have transparency on what the banks are up to. It’s possible that complexity thinkers like Mark Buchanan may be able to help devise mechanisms that constitute a step towards the needed transparency. But the key requirement here is political will to insist on transparency, not the modelling of complexity science”
See on www.forbes.com
Related articles
- The Dynamic Properties of Complexity and Business Resilience (fitforrandomness.wordpress.com)
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With markets increasingly global, tranparency remains a noble ideal. However, since other governments and banks are not subject to the same laws, even less so effective enforcement, transparency will yield its own problems. Money and capital will often seek closely guarded information. We are still enmeshed in a game-theoretic world, for what looks to be a long time horizon. Messy complexity ain’t going away any time soon, and in an emergent social world, maybe never.
Much as I hate to say it Rick, I fear you are right! Our ‘only’ hope is that it won’t be so much compliance with legal/financial reporting/regulatory requirements that is the priority, rather it will need to be alignment with informed customer values. We live in hope!