malthrin comments on Complexity: inherent, created, and hidden - Less Wrong
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Definitely. You may find the following links relevant:
Joseph Tainter - Collapse of Complex Societies
Clay Shirky - Collapse of Complex Business Models
To summarize: each problem solved through an increase in complexity cumulatively adds overhead to the system. Eventually, the net return on solving a problem is completely offset by that overhead. After that point, the system must simplify - either on its own, or with the "assistance" of external forces such as barbarians or hostile takeovers.