Complex Economic Systems

Abstract

The great strength of laissez-faire economics can also be its greatest weakness. The uncoordinated efforts of millions of economic participants, channeled through markets and priced through the invisible hand of the marketplace, produces incentives and innovations that can fuel dramatic economic growth. This same melee of human activity also gives rise to colossal coordination failures.

But by an equality, that now at this time your abundance may be a supply for their want, that their abundance also may be a supply for your want: that there may be equality.

(2 Corinthians 8:14)