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 “Cogs & Monsters”:  An Interview with Professor Diane Coyle

“Cogs & Monsters”: An Interview with Professor Diane Coyle

by Diane Coyle

Bennet Professor of Public Policy and co-director of the Bennett Institute, University of Cambridge


We are the cogs: although it has moved on from the days when the Phillips Machine literally modeled the economy in a mechanistic way, conventional economics treats us as individual decision makers acting predictably. Its approach is ‘methodological individualism’, in the jargon of social science. The monsters populate the as-yet unmapped world of today’s economy, just like the blank areas on old maps labeled ‘Here Be Monsters’. One of the important features of digital ... cont

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