by Paul Ormerod · Pantheon · tapa dura · ISBN 9780375407659
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«Butterfly Economics» is Paul Ormerod's economics essay, published by Pantheon in hardback (217 pages, in English).
Ormerod draws on examples such as the success of VHS over Betamax or unexpected blockbusters to explain that the economy behaves like a complex social system, not a controllable mechanism. He argues that people act against what classical theory predicts and that governments and industries need to revise their forecasting models in an uncertain global market.
First American edition; the book includes bibliographic references and an index.
Suitable for readers interested in economics, sociology and complexity theory, with a popularising approach and also suitable for the academic sphere.
Paul Andrew Ormerod is a British economist who is a partner at Volterra Partners consultancy. Additionally, he is a visiting professor at UCL Centre for Decision Making Uncertainty.
