03 May, 2013

Bank Crash: Explanation via Chaos

From 2008:

"Within a very short time of the massive Stock Exchange and Bank slump of October 2008, the BBC had presented an hour long mathematical explanation entitled High Anxieties: The Mathematics of Chaos. Now though this was supposedly mostly about Anxiety, it turned out to also be an urgent contribution to the widespread questions generated among vast sections of the population as to why the Crash and Fallout all happened and who was to blame. The remit had to deal with the obvious anger of one section of society, while at the same time consoling the Anxiety of another quite different section. It was obviously NOT going to be achievable by any Economic-type explanations. Indeed, concentration on such an approach could merely increase the anger side and consequently also the anxiety side, so some more natural, and unavoidable causation would be ideal. Something independent of the actions of men and a feature of Nature itself would be perfect. The area chosen seems to fit the bill! It was mathematics – that cornerstone of our usual “understanding” of Nature, and weapon to control and transform the World. Could it also demolish and destroy?"

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