How systems work (or not) – economics, delivery and more (…or some of what I read in the holidays)
‘How systems work’ is already a theme of these blogs, in that the general properties of systems – typically seen (mathematically) as ‘graphs’ of objects that interact with each other – are assumed by definition to have general applicability. While our focus is normally on biology, it is assumed from a systems perspective that the rules that we learn in biology can hopefully similarly be applied to other systems, and vice versa. One such class of system is the domain of what Carlyle famously called the ‘dismal science’ of economics – on which everyone, however amateur, is a Monday morning quarterback (and at some level a participant). So one of the books I read in the holidays was Paul Krugman’s short and masterful analysis of the lead-up to and unfolding of the present economic downturn. Now Krugman is no slouch – the book is an update of his predictions in 1999, and he received the Nobel Prize in Economics for 2008 – and his writing style is simple, effective, jargon-free and understandable. Some of his main conclusions (as I take them) are equivalently simple: [...]