The Economy Described by a Water Flow Machine

This is worth the read.  NYT article by Steve Strogatz.  Here’s an excerpt:

“Look at its plumbing diagram. It’s a network of dynamic feedback loops.  In this sense the Phillips machine foreshadowed one of the most central challenges in science today: the quest to decipher and control the complex, interconnected systems that pervade our lives.”

Guest Column: Like Water for Money – Olivia Judson Blog – NYTimes.com

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