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I think the next [21st] century will be the century of complexity. We — Complexity

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"I think the next [21st] century will be the century of complexity. We have already discovered the basic laws that govern matter and understand all the normal situations. We don’t know how the laws fit together, and what happens under extreme conditions. But I expect we will find a complete unified theory sometime this century. There is no limit to the complexity that we can build using those basic laws."
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Complexity characterizes the behavior of a system or model whose components interact in multiple ways and follow local rules, leading to non-linearity, randomness, collective dynamics, hierarchy, and emergence.

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"The recognition of the importance of complex systems in physics and biology has led to their study in economic systems, usually characterized as governed by a large set of interacting nonlinear dynamic systems. It is clear that these phenomena are observable and are not necessarily inconsistent with standard economic reasoning. Professor Rosser has collected a large number of papers, some from not-easily-accessible sources, which show the application of complex system theory to a variety of economic phenomena. This collection will be invaluable to the development of new and necessary thinking in economics."
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