Lynne Kiesling I have a new paper that may be of interest to KP readers, since the subject of the paper is the same as the name of this site: Knowledge Problem. I am honored to have been invited to contribute this paper to the forthcoming Oxford Encyclopedia of Austrian Economics (Peter Boettke and Chris …
Lynne Kiesling I am a big fan of English renaissance choral music, particularly sacred polyphony from Tallis and Byrd (and stretching back to Taverner, but he’s not as distinctively polyphonic). One of the best ensembles performing such music is Stile Antico, a group of 13 British singers who do an outstanding job with this music, …
Lynne Kiesling UPDATE: I’ve had a report that the link to the slides is not working, but I can’t get it not to work … so if you are having trouble please let me know in the comments and I’ll go bug-stomping. UPDATED UPDATE: mischief managed, I think! On Saturday I was honored to be …
Students for Liberty Talk: Economics and Complexity Read More »
Lynne Kiesling In the always-smart-and-interesting City AM paper from London, Anthony Evans makes an important argument that has been overlooked in financial regulation debates: risk of failure is what creates system resilience, and regulation creates brittle monocultures. He writes in the context of last week’s Independent Commission on Banking (ICB) recommendations for creating regulatory divisions …
Resiliency Comes from More Risk of Bank Failure, Not Less Read More »
Lynne Kiesling David Warsh’s Economic Principals column this week is about complexity, and the study of complexity in economics. It is as informative and insightful as Warsh’s columns usually are, despite its selective coverage. He highlights some ideas that I think are important for the future direction of economics — the isolation of the twin …
Lynne Kiesling I am doing a lot of reading and thinking, trying to make some headway on a way-overdue paper, and have been reading a striking working paper from David Colander, Richard Holt, and Barkley Rosser, “The Complexity Era in Economics” (August 2009). Their insights are directed toward the evolution of economics methodology and the …
Lynne Kiesling Ron Bailey’s Hit & Run post, Ant Hills=Brains=Cities, reminded me of some really important, fundamental ideas that tend to get lost as we natter about financial regulation, health care regulation, climate regulation … Emergent orders abound, and occur at all sorts of different scales — molecular, cellular, all the way to complex social …
Emergent Orders Are All Around Us, Especially in Cities Read More »
Lynne Kiesling The NIST smart grid interoperability roadmap workshop I attended last week has gotten me thinking about the similarities between system architecture (as the computer systems folks call it) and institutional design (as we political economy social scientists call it). Of course there’s quite a bit of similarity, as the work of the GridWise …
Resilience, Sustainability, and Loosely-coupled Systems Read More »
Lynne Kiesling When we think of concepts like peer-to-peer networks and disintermediation, we usually think of industries that are very Internet-centric. But these concepts can, should, and will apply in electric power networks too: smart grid technology enables peer-to-peer power. The study referenced in that BBC article analyzes the potential for microgrids, and argues that …
Lynne Kiesling One of the recurring themes here at KP is that smart grid technology makes it possible to harness distributed intelligence in the electric power network, and when you couple that network of distributed intelligence with a decentralized flow of information (such as price signals and market processes), you can get reliability through decentralized …
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