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  1. The Signature of Risk: Agent-based Models, Boolean Networks and Economic Vulnerability.Ron Wallace - 2017 - Economic Thought 6 (1):1.
    Neoclassical economic theory, which still dominates the science, has proven inadequate to predict financial crises. In an increasingly globalised world, the consequences of that inadequacy are likely to become more severe. This article attributes much of the difficulty to an emphasis on equilibrium as an idealised property of economic systems. Alternatively, this article proposes that actual economies are typically out of balance, and that any equilibrium which may exist is transitory. That single changed assumption is central to complexity economics, a (...)
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