Resiliency comes from more risk of bank failure, not less

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 … More Resiliency comes from more risk of bank failure, not less

David Warsh on complexity and economics

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 … More David Warsh on complexity and economics

Emergent orders are all around us, especially in cities

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 … More Emergent orders are all around us, especially in cities