Chaos theory and the Hungarian market
‘Predictability: Does the Flap of a Butterfly’s Wings in Brazil set off a Tornado in Texas?’ was the title of a presentation by meteorologist Edward Lorenz to the American Association for the Advancement of Science. This became the thematic statement for central tenets of chaos theory: systems rely upon an underlying order, and that very simple events can lead to very complex results. The Hungarian beer market is an apt example of this, writes Lyle Frink from Budapest. Because, who would have guessed that German reunification would cause Hungarian breweries many hardships? Just as the fluttering of a butterfly’s wings could theoretically set off a tornado, German reunification set off a chain of still evolving developments in the Hungarian beer market. ...
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