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That the word itself was clearly shorthand: complexity of what? One possible phenomenon is complexity of the division of labor, or the extent of aggregate specialization in an economic system.

Edge of Chaos – Systems Innovation

To be complex is to consist of two or more separable, analyzable parts, so the degree of complexity of an economy consists of the number of different kinds of jobs in the system and the manner of their organization and interdependence in firms, industries, and so forth. Economic complexity is reflected, crudely, in the Yellow Pages, by occupational dictionaries, and by standard industrial classification SIC codes.

Order from Chaos (by Philhenes)

It can be measured by sophisticate modern techniques such as graph theory or automata theory. The whys and wherefores of complexity are not our subject here, however; it is with the idea itself that we are concerned. A high degree of complexity is what hits you in the face in a walk across New York City; it is what is missing in Dubuque, Iowa.

A higher degree of specialization and interdependence — not merely more money or greater wealth — is what makes the world of so different from the world of I was interested in specialization as a way of talking about why the prices of everyday goods and services were what they were apart from the quantity of money. I was writing towards the end of forty years of steadily rising prices.

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I had become entranced by some painstaking work published twenty-five years before, by economists E. Phelps Brown and Sheila Hopkins. The price level exhibited a step-wise pattern, relentlessly up for a century, steady the next; purchasing power , a jagged but ultimately steady increase sorry, only JSTOR subscription links.

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What interested me were intricate questions about the direction of causation. Your Web browser is not enabled for JavaScript. Some features of WorldCat will not be available. Create lists, bibliographies and reviews: or. Search WorldCat Find items in libraries near you.

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The revolutionary new discoveries researchers have made there could change the face of every science from biology to cosmology to economics. Mitchell Waldrop's groundbreaking bestseller takes readers into the hearts and minds of these scientists to tell the story behind this scientific revolution as it unfolds.

Complexity: the emerging science at the edge of order and chaos M. Bolman , Terrence E.