The quote "Unlike an inexorable, Newtonian ‘great machine’, the economy is not a closed system" is a metaphorical way of contrasting two different views of how systems work.

In Newtonian physics, a "great machine" refers to a deterministic system where every action has a predictable reaction. This is a closed system, meaning that it doesn’t interact with anything outside of itself and follows a set of fixed laws.

On the contrary, the economy is described as not being a closed system. This means that it is influenced by a multitude of external factors and does not follow a predictable, deterministic path. It is an open system that constantly interacts with and is influenced by external factors such as politics, technology, social changes, and global events.

This quote suggests that the economy, unlike a Newtonian machine, is unpredictable and ever-changing. It does not follow a set path, but constantly adapts and evolves in response to a multitude of factors.

This idea can be applied in today’s world in many ways. For example, in business, it suggests the importance of being adaptable and responsive to changes in the economic environment. Companies that are rigid and unchanging are likely to struggle in the face of economic fluctuations, while those that are flexible and adaptable are more likely to thrive.

In terms of personal development, this quote might suggest the importance of being open to change and adaptable in our personal lives. Just as the economy is not a closed system, neither are we. We are constantly influenced by external factors and our lives do not follow a predictable, deterministic path. Therefore, being open to change and adaptable in the face of new experiences and challenges can be key to personal growth and development.