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Socio-economic data mining has a great potential in terms of gaining a better understanding of problems that our economy and society are facing, such as financial instability, shortages of resources, or conflicts. Without large-scale data mining, progress in these areas seems hard or impossible....
Persistent link: https://www.econbiz.de/10014186622
The invention of the steam engine turned the agricultural society (with its “Economy 1.0”) into an industrial society (with the “Economy 2.0”). Later, the spreading of education enabled the service society (with the “Economy 3.0”). And now, the pervasiveness of digital technologies...
Persistent link: https://www.econbiz.de/10014139708
We have seen that self-organizing systems can be very effective and efficient, but their macro-level behavior crucially depends on the interaction rules, interaction strength, and institutional settings. To get things right, it's important to understand the factors that drive the dynamics of the...
Persistent link: https://www.econbiz.de/10014140196
We need a "Galilean" paradigm shift in thinking, from a component-oriented, individually centered view to an interaction-oriented, systemic view. When combined with the new opportunities created by Information and Communication Technologies, such a paradigm shift will lead us to a...
Persistent link: https://www.econbiz.de/10013031345
A multidimensional financial system could provide benefits for individuals, companies, and states. Instead of top-down control, which is destined to eventually fail in a hyperconnected world, a bottom-up creation of value can unleash creative potential and drive innovations. Multiple currency...
Persistent link: https://www.econbiz.de/10012993527