What Got You There With Sean Delaney

#179 W. Brian Arthur- The Pioneer of Complexity Economics on How Technology Evolves

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Sinopsis

W. Brian Arthur is an economist and complexity thinker. He is best known for his work on network effects locking markets in to the domination of a single player. He is also one of the pioneers of the science of complexity—the science of how patterns and structures self-organize. He is a member of the Founders Society of the Santa Fe Institute and in 1988 ran its first research program. He has served on SFI's Science Board for 18 years and its Board of Trustees for 10 years, and is currently External Professor at SFI. Arthur held the Morrison Chair of Economics and Population Studies at Stanford from 1983 to 1996. He has degrees in operations research, economics, mathematics, and electrical engineering. Arthur is a well-known keynote speaker.   Research Brian Arthur is known for 3 main sets of ideas: Increasing returns. In the 1980s Arthur developed a way for economics to understand how increasing returns or positive feedbacks (e.g. network effects) operate in the economy — in particular how they can magnify s