Understanding Economic Complexity - Cesar Hidalgo

Serious Science - serious-science...
The assistant professor at the MIT Media Lab and faculty associate at Harvard University's Center for International Development, Cesar Hidalgo on economic complexity, crystallizing the imagination and its role in prosperity of some nations

[@justgivemethetruth]

This is great ... I like this guy. Most economist simply want to confuse people, this guy has a real aptitude for economics.

[@rafamerengues8935]

the real mark of true understanding is the ability to tell it to anyone and they understand it. yes this man is a is simply great

[@amryz87]

i admire his enthusiasm on the economic complexity.

[@johnc.holley4362]

Very interesting and important ideas. As a sociologist I look at generations and it is clear that while younger generations are early adopters of new products and technologies, they are not institutions or "political systems." Generations are networks that come together in a free sociology. Don't you think that modern people's ability to communicate and produce things also comes from crowd sourcing and other non-institutional means?

[@alfredhitchcock45]

Ability to transform imagination to reality

[@alfredhitchcock45]

Ability to crystallize imagination Internal decisions of corporations vs market

[@whom4751]

Though I understood it just by looking at reality - it's really cool that they were able to understand through mathematics that we live in a Topocracy.

[@miriamivette9612]

Amazing congratulations 👏🙌

[@Josefk40]

Interesting. I’m not sure if I follow the part that mocks the free market while referencing Adam Smith.

[@muskduh]

Finally a normal economist

[@dsolis7532]

He is a physicist haha

[@abdalucchash5717]

Can anyone give me any intution why ECI and governance have negative impact. Shouldnt they be positive. Ran panel re then GMM. Although lagged value shows positive relationship

[@alejandrotuiranrangel5228]

Did you figure it why ???

Smart guy

[@altaf.25823]

So what is most highly complex product in this world now..

[@dandankokorohikareteku2620]

I don't know

[@anywallsocket]

apple's aren't "negative entropy", indeed they're full of organized information - they're more like 'entropic pits', or localized significant drops in entropy, yet strictly positive.

[@YamiBarai21]

First, entropy isn't about organization but about probability, less likely structures (a car) have lower entropy (what he meant with "negative") than higher entropy structures (smoke) which are more likely ("positive"), you understood it backwards.

[@anywallsocket]

@@YamiBarai21 entropy cannot be negative in a strict sense. the apple has a very real positive entropy. he means to imply it's less than 'typicality', because as an organic system, it's far from equilibrium. yet he's still trying to talk about something he clearly doesn't understand well, just to come off intelligent.

[@YamiBarai21]

@@anywallsocket Entropy can only increase in a closed system, that's what most physicists state. I don't know what he meant by "negative" since that's not a technical way of saying it, but attempting to interpret what he meant I deduce he meant it had less entropy than average, I mean, that an apple has LESS entropy than smoke or a rock.

[@leerobinson1866]

cocodrile

[@mamanitubea]

Nice essay on what economist already know a while ago...from Adam Smith to economic geography theorists...nothing new though.

[@rodrigocostamagna3896]

True, in fact Joel Mokyr wrote about 30 years before. But, the issue is people teaching what to do again...