What Natural and Economic Disasters have in Common?
Date: Thursday, 11 Jun e 2009 – 16:02 UTC Complexity science is a young science and this is evident in the application of complex systems thinking in economic research. An interesting article in the McKinsey Quarterly discusses the power law phenomenon, and demonstrates how complexity thinking is growing in influence through the public and private sectors. One of the most interesting aspects will be how complex systems thinking will reshape traditional economic theory. The short essay points to the parallels between man-made disasters and natural disasters, and how this is “bringing new ideas to economic forecasting, strategic planning, and risk management,” something which would be of particular use in the study of climate change and its impact upon the whole ethos of national security. CNAS, the Centre for a New American Security recently published the findings of a report in which they conducted a war game exercise to explore the national security implications of global climate chan
