The Self-Organizing Economy

"In the last few years the concept of self-organizing systems - of complex system in which randomness and chaos seem spontaneously to evolve into unexpected order - has become an increasingly influential idea that links together researchers in many fields, from artificial intelligence to chemistry, from evolution to geology. For whatever reason, however, this movement has so far largely passed economic theory by. It is time to see how the new ideas can usefully be applied to that immensely complex, but indisputably self-organizing system we call the economy."

By Paul Krugman, An American economist, columnist and author