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Economics' necessary revolution

Geoff Riley

28th December 2016

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A hat tip to Bruce Fellowes for spotting this article on the research of J.Doyne Farmer, Director of the Complexity Economics Programme at the Oxford Martin School. Farmer is an expert in complex systems. His work develops when we drop the idea of single, stable equilibrium points in markets.

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"Equilibrium is such a fundamental assumption in almost all economic models that the idea that it might be fundamentally wrong in many circumstances ‘makes economists really nervous’"

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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