Wednesday, August 24, 2011

Top read of the day

This column from Wired is about the complexity of the structure of a crushed piece of paper and why the ball that results which is 90% air is so rigid.

For those economists out there still wedded to economic models derived from 19th century thermodynamics and electromagnetism, you might like to reflect on the thought that real world markets are much like the crumpled paper - apparently simple but really very complex.

The problem is we don't have X-ray microtomography to look at the structure of economic markets.

Novae Meridianae Demetae Dexter delenda est

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