From George Sugihara, Seed Magazine
At a closed meeting held in Boston in October 2009, the room was packed with high-flyers in foreign policy and finance: Henry Kissinger, Paul Volcker, Andy Haldane, and Joseph Stiglitz, among others, as well as representatives of sovereign wealth funds, pensions, and endowments worth more than a trillion dollars—a significant slice of the world’s wealth. The session opened with the following telling question: “Have the last couple of years shown that our traditional finance/risk models are irretrievably broken and that models and approaches from other fields (for example, ecology) may offer a better understanding of the interconnectedness and fragility of complex financial systems?”
Science is a creative human enterprise. Discoveries are made in the context of our creations: our models and hypotheses about how the world works. Big failures, however, can be a wake-up call about entrenched views, and nothing
produces humility or gains attention faster than an event that blindsides so many so immediately.Examples of catastrophic and systemic changes have been gathering in a variety of fields, typically in specialized contexts with little cross-connection. Only recently have we begun to look for generic patterns in the web of linked causes and effects that puts disparate events into a common framework—a framework that operates on a sufficiently high level to include geologic climate shifts, epileptic seizures, market and fishery crashes, and rapid shifts from healthy ecosystems to biological deserts.
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