He had been dabbling in economics, studying the distribution of large and small incomes in an economy. Mandelbrot was a mathematical jack-of-all-trades who had been adopted and sheltered by the pure research wing of the International Business Machines Corporation. But Mandelbrot recognized it when he saw it, and there it was on the blackboard in Hendrik Houthakker’s office. In 1960, it was a ghost of an idea, a faint, unfocused image. Of a cloud on sand, a shape on the side of a hill.Ī PICTURE OF REALITY built up over the years in Benoit Mandelbrot’s mind. Chaos: Making a New Science - James Gleick (1988) A Geometry of NatureĪ small relation expanding like the shade
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