Paul Ormerod (born 1969) is a British economist who is currently researching complexity, complex systems, nonlinear feedback, theboom and bust cycle of business and economic competition.
Within the book Paul discusses the limits of conventional economics and why it needs to embrace the power of networks – through ‘positive linking’. Our social and economic worlds have been revolutionised. The Internet has transformed communications and for the first time in human history, more than half of us live in cities. We are increasingly aware of the choices, decisions, behaviours and opinions of other people. Network effects – the fact that a person can and often does decide to change his or her behaviour simply on the basis of copying what others do – pervade the modern world.The financial crisis has shown us that conventional economics is drastically limited by its failure to comprehend networks. Paul argues that as our societies become ever more dynamic and intertwined, network effects on every level are increasingly profound.
Paul Ormerod has written three books as well as many articles. His books are:
- The Death of Economics
- Butterfly Economics
- Why Most Things Fail: Evolution, Extinction and Economics