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Butterfly Economics: A New General Theory of Economic and Social Behaviour Paperback – 6 Sep 1999

4.8 out of 5 stars 5 customer reviews

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Product details

  • Paperback: 240 pages
  • Publisher: Faber and Faber; New Ed edition (6 Sept. 1999)
  • Language: English
  • ISBN-10: 0571197264
  • ISBN-13: 978-0571197262
  • Product Dimensions: 12.7 x 1.8 x 19.7 cm
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (5 customer reviews)
  • Amazon Bestsellers Rank: 92,682 in Books (See Top 100 in Books)

Product Description

Review

"'A fascinating and entertaining introduction to the economics of the 21st century.' New Scientist; 'Ormerod returns repeatedly to the systematic failure of economists' predictions. If you have ever wondered why they get it wrong, time after time, then you should read this book. It explains in clear, non-technical language why the traditional assumptions of economists make most of their theories hopeless.' Alasdair Palmer, Sunday Telegraph; 'An important book which everybody even remotely interested in political economy should read.' Larry Elliott, Guardian; 'As witty and wide-ranging as it is rigorous, Butterfly Economics provides excellent reasons for business and economics to start talking to each other again.' Observer"

About the Author

Paul Ormerod is the author of The Death of Economics, Butterfly Economics and Why Most Things Fail. He studied economics at Cambridge and his career has spanned the academic and practical business worlds, including working at the Economist and as a director of the Henley Centre for Forecasting. He is a Fellow of the British Academy of Social Science and has been awarded a DSchonoris causafor his contribution to economics by the University of Durham.

Customer Reviews

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Top Customer Reviews

Format: Paperback
This book shows how modern techniques of analysis drawn from physics and biology are beginning to pur real science into social sciences. With applications from crime to consumers, from cycles to stock markets, Paul Ormerod shows how really to understand what is going on in the world around us.
This is a book which should be read by anyone who wants to think about how the world ticks and it is written in accessible language with lots of examples.
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By A Customer on 6 Oct. 1999
Format: Paperback
This book introduces a new economic model. Like all the best explanations of "how the world works", this model is both simple, obvious and it fits the facts. To put this into perspective I could explain it to a man on the street in 5 minutes.
Its a paradigm shift in the making.
This book will change the way you think. I recommend it as essential reading.
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Format: Kindle Edition Verified Purchase
I wish this book tiptoed a little less around the topic its trying to convey. That is I find the concept of using biological modelling procedures very interesting and I tend to agree with the author, but he does not go into much detail about how he does it(the appendix just shows two equations with little explanation of how they function). Otherwise its a very interesting read which entices one to look into the topic, I've personally tried to look up the prescribed readings for delving into the topics(though the book he recommends is over 50 pounds and the paper is also inaccessible).
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Format: Paperback
In many ways this book is similar to The Death of Economics. The main reason for buying it is that it is far easier to read. If you have any interest in economics or the social sciences you need at least one of these books.
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Format: Paperback
Ormerod unveils an experiment with social insects. (Ants).
From that he deduces that social beings have 3 modes of behavior.
Repetition, random, imitate.
He models 120 years of world growth history.
Models the stockmarket. No source code for the simulations.
But the stock market is simple enough for you to write from scratch.
"Decisions are taken by individual agents operating under uncertainty, and it is this which is the cause of the permanence of the business cycle."
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