Following on from Eric Schleisser's post, some might be interested in what's happening at the Bank of England, where regulators have for some time been working with complex systems theorists from the natural sciences to develop new models of financial regulation. This article was published by Andrew G. Haldane (Head of Financial Stability at the Bank of England) and the ecologist Robert May in Nature earlier this year. This podcast from the BBC on 'Scientists of the Subprime' may also be of interest. Interestingly, this raises the question of the enduring influence of Hayek (especially the later Hayek, who advocated a turn to complex biological models of markets) on that most improbable of institutions, the central bank (improbable because the Austrians called for the complete abolition of the central bank).
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