James Glattfelder: How to Build an Economic System we Actually Understand | Money | WIRED





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Published on Jul 7, 2014

The financial system is broken on multiple levels, but that does not necessarily mean it is not irreparable, says complexity scientist James Glattfelder. "I'm not trying to say we can't solve complicated problems in a complicated world, but we need to use humility."
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What we will need, he tells the audience at Wired Money 2014, is a huge paradigm shift to replace the traditional model with a hands-on data interaction model.

"I really believe we have created systems that we don't understand and cannot control yet," he says. "The first place to start is to admit there is a problem."

Wired Money is a one-day summit that explores the future of finance. The event was launched in recognition of the fact that financial services -- from online payments to transferring money -- are broken. And where a problem exists, so entrepreneurs step in to create efficiencies. Wired Money brings together the new breed of startups taking on the incumbents and the bold thinkers rewriting the rules of money -- from digital currencies and online reputation to mobile money and digital wallets.

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James Glattfelder: How to build an economic system we actually understand | Money | WIRED


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