Arrol Adam Lecture Series - The Problem with Economics
Abstract: The stupendous rise of the internet and cyber society poses challenges for economics. Economics essentially looks at individual units, be they people, firms or governments, and treats their behaviour as independent. In the 21st century, this assumption is less and less tenable. Connections determine behaviour. What are the implications both for economics and for policy?
Bio: Paul Ormerod is an alumnus of Christ’s College and worked as a forecaster at the National Institute of Economic and Social Research before founding the Henley Centre and Volterra Partners. He writes a weekly opinion column on economics and related topics for City AM, and is involved in a high tech venture, Periander, which applies advanced analytical techniques to Big Data for decision makers. He is Visiting Professor in the Centre for Decision Making at University College, London (UCL). His latest book is Positive Linking. www.paulormerod.com
The Arrol Adam Lectures: The Arrol Adam Lectures were set up in memory of William Arrol Adam, who read Chemistry at Fitzwilliam House in 1905 and died in 1939. It was the stated intention of the bequest, made in 1962 by his widow Jane Wylie Adam, to disseminate knowledge, promote discussion of issues of general interest and concern and to foster the use of plain and simple English.