We live in a much more turbulent world than we like to think, but
the science we use to analyze economic, financial, and statistical
events mostly disregards the world's essentially chaotic nature. We
need to get used to the idea that wildly improbable events are
actually part of the natural order. The renowned Hungarian
mathematician and psychologist Laszlo Mero explains how the wild
and mild worlds (which he names Wildovia and Mildovia) coexist, and
that different laws apply to each. Even if we live in an ultimately
wild universe, he argues, we're better off pretending that it obeys
Mildovian laws. Doing so may amount to a self-fulfilling prophecy
and create an island of predictability in a very rough sea. Perched
on the ragged border between economics and complexity theory, Mero
proposes to extend the reach of science to subjects previously
considered outside its grasp: the unpredictable, unrepeatable,
highly improbable events we commonly call "miracles."
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