b. 1950
Paul Ormerod is a British economist known for his critiques of orthodox economic theory and his work on complexity economics. He has written influential books challenging the predictive power of mainstream economics and exploring how network effects and bounded rationality shape economic and social outcomes.
Authored 'The Death of Economics' (1994) critiquing mainstream economic theory
Authored 'Butterfly Economics' (1998) applying complexity theory to economic behavior
Authored 'Why Most Things Fail' (2005) on failure rates in business and policy
Pioneered applications of agent-based modeling and network theory to economics
Co-founded Volterra Partners economic consultancy