The Origin of Wealth: The Radical Remaking of Economics and what it Means for Business and Society
Over 6.4 billion people participate in a $36.5 trillion global economy, designed and overseen by no one. How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society? In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in which physical technologies, social technologies, and business designs continuously interact to create novel products, new ideas, and increasing wealth. Taking readers on an entertaining journey through economic history, from the Stone Age to modern economy, Beinhocker explores how "complexity economics" provides provocative insights on issues ranging from creating adaptive organizations to the evolutionary workings of stock markets to new perspectives on government policies. A landmark book that shatters conventional economic theory, The Origin of Wealth will rewire our thinking about how we came to be here--and where we are going.
What people are saying - Write a review
LibraryThing ReviewUser Review - brett_in_nyc - LibraryThing
While I don't agree with the opening story that someone in NYC earning $30,000 is implicitly better off than someone living in the Amazon on $0, in principle, I agree with the book in total and ... Read full review
LibraryThing ReviewUser Review - PointedPundit - LibraryThing
Wealth creation is central to any understanding of economics. What is it? How is it created? How is it increased? These questions are essential to most of us. They dominate our daily working lives ... Read full review