W. Brian Arthur Quotes

We're facing a danger that economics is rigorous deduction based upon faulty assumptions. Science after science gets that way from time to time. When it does, we're in real trouble.

When you mathematize something you distill its essence.

Complexity is looking at interacting elements and asking how they form patterns and how the patterns unfold. It's important to point out that the patterns may never be finished. They're open-ended. In standard science this hit some things that most scientists have a negative reaction to. Science doesn't like perpetual novelty.

I will give technology three definitions that we will use throughout the book.

The first and most basic one is that a technology is a means to fulfill a human purpose. For some technologies-oil refining-the purpose is explicit. For others- the computer-the purpose may be hazy, multiple, and changing. As a means, a technology may be a method or process or device: a particular speech recognition algorithm, or a filtration process in chemical engineering, or a diesel engine. it may be simple: a roller bearing. Or it may be complicated: a wavelength division multiplexer. It may be material: an electrical generator. Or it may be nonmaterial: a digital compression algorithm. Whichever it is, it is always a means to carry out a human purpose.

The second definition I will allow is a plural one: technology as an assemblage of practices and components. This covers technologies such as electronics or biotechnology that are collections or toolboxes of individual technologies and practices. Strictly speaking, we should call these bodies of technology. But this plural usage is widespread, so I will allow it here.

I will also allow a third meaning. This is technology as the entire collection of devices and engineering practices available to a culture. Here we are back to the Oxford's collection of mechanical arts, or as Webster's puts it, "The totality of the means employed by a people to provide itself with the objects of material culture." We use this coll

If economics wants to understand the new economy, it not only has to understand increasing returns and the dynamics of instability. It also has to look at cognition itself, something we have never done before in economics.

Economists got away from really questioning how the world works, how decisions actually got made. If something doesn't conform to neoclassical models ... people are not somehow behaving themselves properly.

A new device or method is put together from the available components - the available vocabulary - of a domain. In this sense a domain forms a language; and a new technological artifact constructed from components of the domain is an utterance in the domain's language. This makes technology as a whole a collection of several languages, because each new artifact may draw from several domains.