Forecast: What Physics, Meteorology, and the Natural Sciences Can Teach Us About Economics

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9781408827376: Forecast: What Physics, Meteorology, and the Natural Sciences Can Teach Us About Economics
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In this thoroughly researched and piercingly intelligent book, physicist Mark Buchanan shows how a simple feedback loop can lead to major consequences, the kind predictable by mathematical models but hard for most people to anticipate. From his unique perspective, Buchanan argues that our basic assumptions about economic markets - that they are for the most part stable, with occasional interruptions - are simply wrong. Markets really act more like weather: a brief heat wave can become a massive storm in a matter of a few days, or even hours. Forecast re-imagines the basics of the financial world, with consequences that affect everyone.

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Forecast A groundbreaking book that uses physics to show how instability is inherent in economic markets, just as thunderstorms are a part of the weather Full description

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A lucid, absorbing story (New Scientist)

If Mark Buchanan is right, economics might become a real science. A new generation could morph it into a branch of physics by applying rice piles, power laws, positive feedback, phase changes, chaos and complexity theory. Who knows, they might even work out how to avert catastrophes (New Scientist)

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9781608198535: Forecast: What Physics, Meteorology, and the Natural Sciences Can Teach Us About Economics

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ISBN 10:  1608198537 ISBN 13:  9781608198535
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9781608198511: Forecast: What Physics, Meteorology, and the Natural Sciences Can Teach Us about Economics

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9781408841259: Forecast Tpb Export Airside

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