Get Savvy with Systems

From mechanical equilibrium to dynamic complexity. The world, the economy, and the systems within it do not function like machines. They are most often not (very long) in equilibrium: economic agents (firms, consumers, investors) constantly change their actions and strategies in response to the outcome they mutually create. This further changes the outcome, which requires them to adjust afresh. Agents thus live in a world where their beliefs and strategies are constantly being "tested" for survival within an outcome or "ecology" these beliefs and strategies etc. together create complex systems (Arthur, W.). We should therefore stop looking for the control levers and start navigating it as an evolving complex system.