Reply To: Measuring Economic Equilibrium


Hi bigqueue,

Yes I understand your perspective. What I thought was interesting is that the early models of “chaotic systems” (what’s called “chaos theory”) were deterministic. It’s just that slight perturbations in the initial parameters made the output fly off in “unpredictable” directions.

I think the first example of this was indeed a set of equations that were supposed to model weather. Anyway, the story is covered in James Gleick’s book *Chaos*.