G: Craig, the technical term ‘complexity’ that I use is not ‘complicatedness’. It is elaborate behaviour that can arise from simple interactions among simple components.
So your remarks do not apply, whatever the merits of your claim of new paradigm, which I admit I have not tried to fathom. Advocate your own, but do not dismiss that which you do not understand.
With all due respect I don’t see any significant difference between complicatedness and “elaborate behavior”. The latter is a description of emergent I believe, but the anomalies that kept emerging from Ptolemaic cosmology in trying to make it fit the motions observed and justify itself were (as it turned out) mere complications and were only resolved by the paradigm changing concept of helio-centrism, the new tool of the telescope and the discovery of the ellipse.
The emergent quality of financial instability likewise is only going to be resolved by recognizing the new monetary and financial paradigm I advocate, which fulfills all of the signatures of historical paradigm changes by the way.