This talk was a pleasure to give, because for once I was talking to an audience who completely understand Complex Systems (unlike the vast majority of economists), but in the case of “EASY”–the “Evolutionary and Adaptive Systems Research Group”(http://www.sussex.ac.uk/easy/)–they apply this methodology to analysing the brain and consciousness.
I outline Minsky (downloadable from https://sourceforge.net/projects/minsky/), the system dynamics platform I designed for economics to enable banks, debt and money to be easily incorporated into dynamic models of the economy, explain why mainstream economists thought that you don’t have to include banks, debt and money in macroeconomic models and why they are profoundly wrong, discuss the attempt by some Neoclassical economists to get back to that Olde Religion now that the global economy is reviving somewhat ten years after the Global Financial Crisis, and conclude by showing that macroeconomics can be derived directly from macroeconomic definitions.
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