economy
February 12, 2026
Economics has failed on the climate crisis. This complexity scientist has a mind-blowing plan to fix that
Doyne Farmer says a super-simulator of the global economy would accelerate the transition to a green, clean world
TL;DR
- Doyne Farmer is developing a "super-simulator" of the global economy, costing approximately $100 million, based on advances in complexity science and computing power.
- This simulator aims to provide clearer economic forecasts, prevent financial crashes, and accelerate the transition to a green, clean world.
- Traditional economic models are criticized for being too simple or too complex, and for assuming perfect rational decisions, which Farmer's complexity models avoid by allowing agents to make decisions based on simple rules and adapt over time.
- Farmer's team is initially applying this approach to model the global energy sector, encompassing all energy companies and their assets, to find the best path to a green energy future.
- The development of this simulator is seen as urgent by Farmer, who believes it can revolutionize economic planning and help address major global challenges like the climate crisis.
Continue reading the original article