Dresden 2020 – scientific programme

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SOE: Fachverband Physik sozio-ökonomischer Systeme

SOE 6: Poster

SOE 6.3: Poster

Monday, March 16, 2020, 17:00–20:00, P2/4OG

Simplicity as Ultimate Sophistication? — •Stephen I. Ternyik — POB.201 D-82043 Munich

There can be no doubt that the physical reality on our spaceship earth is extremely complex, with many complicated layers of interaction, concerning the empirical nature of human experiences.In the recent development of scientific methodology, computation has reached the research status level of experimental laboratory presicion and exactness, with artificial cognition (AI) and cognitive artifacts replacing real world applications (e.g. exponential medicine, in silico technologies).

In the economic sciences, we can observe the same methodical paradigm progress to beat complexity with even more complexity and to create virtual economic systems, which are extremely detached from everyday human economic action.The recommendations of Leonardo da Vinci and Albert Einstein, to formulate possible solutions to an existing problem in its most simplest degree, suggests that there are simple problem-solving techniques for complex tasks in science and life.

It is, therefore, very reasonable to assume that simplicity remains the ultimate sophistication, even in our tech-know-logical age of computational exponentiality, i.e. reducing and computing economic complexity into single working elements and to identify its dynamic interplay (matching tool and task intelligently). To paraphrase Ronald Coase, the data should not be tortured, until they confess to everything.