#bookstr reading club callout - let's climb a mountain! Anyone with an inkling of interest is welcome to join. The only requirement is that we all climb, and that we climb together.
(summary in comment)
Discussion
> "To summarize, our work is aimed at furthering the understanding of the structure and functioning of prominent social arrangements such as markets, firms, money and banking systems, science communities, and governments. The approach we have taken is to conceive of these arrangements as systems of social interaction, to characterize the modes of interaction between the members in each different arrangement, and to seek to understand how these interactions could support the emergence of the system’s capability of adapting to its environment. The various social systems considered vary greatly in the incentives offered to their
members, in the constraints imposed on those individuals, in the opportunities for the exercise of entrepreneurship, and in the aspects of the environment to which the system as a whole is sensitive. But we think it has proven possible – and useful – to see them all as specific instances of a more general structure (a “Hayekian system”) in which the capability for adaptation is generated through the operation of a functionally closed set of processes of interaction. Understanding the general structure of these social systems has allowed us some insight into what is crucial for their continued operation and how they are likely to react to environmental effects (which include effects emanating from other social systems) which affect, and sometimes impede, their internal processes."
nostr:nprofile1qqsvfr3f7p95stxqrjslnmuvsmhcxxxqt8swjdfjx5tz7zq0yms5cygpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgqg4waehxw309ajkgetw9ehx7um5wghxcctwvsq32amnwvaz7tmjv4kxz7fwd4hhxarj9ec82css0rm9g didn't you say you were reading Hayek? Just wanted to throw this in your periphery.
Let's see if i can increase reach outside my #network - #economics #systems #SystemsTheory #bookclub
"In the natural sciences, we have gradually learned that the interaction of different tendencies may produce what we call an order, without any mind of our own kind regulating it. But we still refuse to recognize that the spontaneous interplay of the actions of individuals may produce something which is not the deliberate object of their actions but an organism in which every part performs a necessary function for the continuance of the whole, without any human mind having devised it. In the words of an Austrian economist, we refuse to recognize that society is an organism and not an organization." - Hayek 1933, The Trend of Economic Thinking
#Economics #SystemsTheory #bookstr #grownostr
Austrian Economics based systems theory. Its crazy, and crazy understandable