W. Brian Arthur's ideas have won him a Guggenheim Fellowship in 1987 and the Schumpeter Prize in Economics in 1990. He pioneered the modern study of positive feedbacks in the economy - in particular their role in magnifying small, random events. He is also one of the pioneers of the new science of complexity. He is an External Faculty Member at the Santa Fe Institute and from 1983 to 1996 was Dean and Virginia Morrison Professor of Economics and Population Studies at Stanford University. He holds a Ph.D. from Berkeley in Operations Research, and has other degrees in economics, engineering and mathematics.