The U.S. economy changes and adapts to circumstances, physical constraints, and rules that we have created through an assortment of individual and collective decisions. Systems scientists and economists, including UT Austin Energy Institute Assistant Director Carey King, work to understand how multiple parts of our economy interact to distribute proceeds among people and businesses. In a new article authored by King and Institute Research Associate Josh Rhodes, the two argue that it is more important than ever to observe the underlying factors that drive our economic system, and act accordingly. If the outcomes our economy produces are not what we want, King and Rhodes assert, we should elect representatives, vote for rules, and make purchasing decisions that redefine the purpose of our economic system. For more, read their entire op-ed.
The need for systematic thinking
Feb. 27, 2018