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L. K. Samuels -
Chaos
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The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.
L. K. Samuels
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'How do you hold a moonbeam in your hand? How do you keep a wave upon the sand?' These words from The Sound of Music bring out the elusive nature of chaos. In life, most things cannot be captured for long. It is like trying to encapsulate time itself.
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Chaos provides order. Chaotic agitation and motion are needed to create overall, repetitive order. This 'order through fluctuations' keeps dynamic markets stable and evolutionary processes robust. In essence, chaos is a phase transition that gives spontaneous energy the means to achieve repetitive and structural order.
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Game theory brings to the chaos–theory table the idea that generally, societies are not designed, and that most situations don't come with a rulebook. Instead, people have their own plans and designs on how things should fit together. They want to determine how the game is played, and they see societal designers as myopic busybodies who would imprison them with their theories.
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Order is not universal. In fact, many chaologists and physicists posit that universal laws are more flexible than first realized, and less rigid—operating in spurts, jumps, and leaps, instead of like clockwork. Chaos prevails over rules and systems because it has the freedom of infinite complexity over the known, unknown, and the unknowable.
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Things evolve to evolve. Evolutionary processes are the linchpin of change. These processes of discovery represent a complexity of simple systems that flux in perpetual tension as they teeter at the edge of chaos. This whirlwind of emergence is responsible for the spontaneous order and higher, organized complexity so noticeable in biological evolution—one–celled critters beefing up to become multicellular organisms.
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Without chaos there would be no creation, no structure and no existence. After all, order is merely the repetition of patterns; chaos is the process that establishes those patterns. Without this creative self-organizing force, the universe would be devoid of biological life, the birth of stars and galaxies—everything we have come to know.
L. K. Samuels
Quote of the day
Nobody ever did anything very foolish except from some strong principle.
William Lamb, 2nd Viscount Melbourne
L. K. Samuels
Wikipedia
Born:
December 7, 1951
(age 72)
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