21st Century Economics – not before time?

After PostCapitalism (Paul Mason) [Take#2], numerous local discussions around the so-called Magic Money Tree and reasons to nevertheless control the money supply, and Javid falling into line this weekend on the idea of “supplying” money for public / affordable housing stock …. it’s all happening. We now have:

Preliminary steps toward a universal economic dynamics for monetary and fiscal policy
by Yaneer Bar-Yam, Jean Langlois-Meurinne, Mari Kawakatsu and Rodolfo Garcia
of New England Complex Systems Institute.
(About properly recognising the dynamics of complex systems – has both W Ross Ashby and Thomas Piketty (!) in the reference list. Hat tip to tweeted blog link – and own analysis – from Jaap van Till – The Connectivist. Wonder what Taleb makes of Bar-Yam paper?) (*)

Former minister, Baroness Shriti Vadera, who is now chairwoman of Santander UK, said that ‘the underlying promise of western capitalist economies […] has been broken‘ (Hat tip to Kenan Malik.)


[(*) Post note: Retweeted the following today:

And took a look at @PrecPrinciple. Lo and behold along with Rupert Read, there are Nassim Taleb and Yaneer Bar-Yam. Don’t you just love it when a plan comes together?]

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