Quote of the Week: Echo-nomics

Insight on feedback by Robert J. Shiller:

    even when feedback mechanisms are straightforward, they can produce very strange outcomes, not predictable very far into the future, as the modern mathematics of chaos theory can attest.

He’s writing not about sound but about economic data, in his New York Times piece “An Echo Chamber of Boom and Bust” (nytimes.com, August 29, 2009).

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