Markets, society and the illusion of control

For decades, economists, investors and policymakers have relied on models designed to make the world understandable and predictable. Yet reality often seems to have other plans. Financial crises emerge unexpectedly, political shocks overturn assumptions, technological revolutions reshape entire industries, and seemingly small events can trigger consequences far beyond anyone’s expectations.

Why are so many of the systems that shape our lives so difficult to understand?

Jean-Philippe Bouchaud has spent much of his career exploring this question. Trained as a theoretical physicist and widely recognised as one of the pioneers of complexity economics, he argues that markets, economies and societies cannot be understood as stable machines moving towards equilibrium. Instead, they are complex systems shaped by feedback loops, collective behaviour and interactions between millions of individuals.

Drawing on insights from physics, finance and complexity science, Bouchaud challenges some of the most influential assumptions in modern economics and offers a different perspective on uncertainty, prediction and risk. From financial markets and inequality to artificial intelligence and social dynamics, he examines why our models often fail and what a more realistic understanding of complex systems might look like.

An evening exploring the hidden forces that drive collective behaviour, the limits of prediction, and what it means to navigate an increasingly interconnected and unpredictable world.