The LML’s economics programme is a full re-write of economic theory from scratch, taking full account of the ergodicity problem – the difference between averages over time and expectation values (averages across the stochastic ensemble). This is effective because the foundations of formal economics were laid at a time when our formal understanding of randomness was in its infancy and conceptually naïve. Yet the key formal models of human behavior used in economics are models of decision-making under randomness