IN CONTEXT
The macroeconomy
René Thom (1923–2002)
Jean-Michel Grandmont (1939–)
Alan Kirman (1939–)
1887 French mathematician Henri Poincaré’s analysis of the interaction between three bodies orbiting each other lays the foundation for chaos theory.
1950s French mathematician Benoît Mandelbrot finds recurring patterns in the variation of cotton prices.
1960 US mathematician and meteorologist Edward Lorenz discovers the butterfly effect in meteorology.
1980s Northern Irish economist Brian Arthur develops complexity theory.
No system yet discovered guarantees a good return in the stock market. One might have hoped that economics, ...
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