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Science in a Complex World: A small group of Santa Fe researchers changed economic thinking

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Posted: Sunday, April 13, 2014 9:00 pm | Updated: 11:12 am, Mon Apr 14, 2014.

Economics is a stately subject, prim and respectable, one that’s altered little since its modern foundations were laid in Victorian times. Now it is changing rapidly, thanks to the work of a small group of researchers over the last two decades in New Mexico.

The story started in 1987, when two Nobel prize winners, economist Kenneth Arrow and physicist Philip Anderson, brought together 10 economists and 10 scientists for a now-famous conference at the new Santa Fe Institute. The purpose was to see how economics could benefit from physics, computer science and biology.

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