Peter Joseph is a filmmaker & author; host of the podcast Revolution Now! and one can support his work through Patreon.
As time marches forward, we find many people objecting to the outcomes of market economics, also known as capitalism. However, rarely do historical and modern critiques examine the problem through the lens of systems science. Because of this contextual failure, the solutions proposed almost universally lack a detailed understanding of the problem itself. In the following, I would like to highlight a particular area of this failure, which is contextual to what many actually assume is a strength or point of success of this thing we call market capitalism: its complexity.
Overall, it seems modern industrial civilization tends to view its economic system as a pinnacle of coordination. Global supply chains span continents. Financial systems route capital instantly across borders. Millions of firms specialize in tiny fragments of production, assembling a world of staggering technological capability. The sheer complexity of the system is often treated as evidence of sophistication. The modern economy, we are told, is the most advanced system of human coordination ever achieved.
This is a companion discussion topic for the original entry at https://peterjoseph.substack.com/p/the-instability-of-market-complexity