ABSTRACT

Whether Duncan Foley is aware of it or not, the inspiration for much of my own work derives from offhand comments he has made during discussions and seminars. For instance, a throwaway observation about conservation laws in neoclassical theory he made more than three decades ago at Stanford sent me hurtling down my trajectory in excavating the origins of neoclassical economics in energy physics. A different comment about Cowles that he dropped in passing led eventually to mywork on the postwar influence of the computer on economics. A third discussion in an airport shuttle about the importance of power laws in research showed up as a section in my recent ScienceMart (2011). I literally am beholden to him for many of my juicier epiphanies. Hence it will not be a stretch to report on a fourth topic close to his heart and to my concerns: the role and significance of complexity in the economy and economic theory.