Human behaviour cannot easily be translated into simple policy prescriptions
Even for experts, financial markets are hard to understand. In this article, I want to ask what bearing this observation has on the financial crisis that swept through the world economies from late 2007 through to 2009. Should we attempt to control or to reduce complexity, or should we accept it as an inevitable feature of a complex, globalised world?
[This article has been reproduced with permission from Said Business School, University of Oxford. The article originally appeared in the School e-magazine, THEWORLD@OxfordSaid. http://www.sbs.ox.ac.uk]