The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of EconomicsOver 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. |
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LibraryThing Review
User Review - jerry6030 - LibraryThingI can’t recall having ever read an author with the clarity of exposition and the depth and breadth of erudition that is demonstrated by Dr. Beinhocker in this book. It is an impressive work. The ... Read full review
LibraryThing Review
User Review - brett_in_nyc - LibraryThingWhile 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
Contents
ONE The Question | 3 |
TWO Traditional Economics | 21 |
THREE A Critique | 45 |
Complexity Economics | 77 |
FIVE Dynamics | 99 |
six Agents | 115 |
SEVEN Networks | 141 |
NINE Evolution | 187 |
THIRTEEN Economic Evolution | 279 |
FOURTEEN A New Definition of Wealth | 299 |
What It Means for Business and Society | 321 |
SIXTEEN Organization | 349 |
SEVENTEEN Finance | 381 |
EIGHTEEN Politics and Policy | 415 |
Notes | 455 |
491 | |
Other editions - View all
The Origin of Wealth: The Radical Remaking of Economics and what it Means ... Eric D. Beinhocker No preview available - 2007 |
The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of ... Eric D. Beinhocker No preview available - 2007 |
Common terms and phrases
agents algorithm argue assumptions behavior biological Business Plans capital chapter competitive complex adaptive system Complexity Economics cooperation create culture decisions deductive-tinkering design space developed discussed dynamic economists energy entropy environment Epstein and Axtell equilibrium evolutionary system evolved example experiments Farmer feedback fitness function fitness landscape genes global growth hierarchy human ideas imagine individual innovation interactions interactors investment investors LEGO Likewise look Maasai management team mathematical mental models modules molecules networks nomic non-zero-sum nonlinear norms organizations pattern percent perfect rationality Physical Technology play population predictions Prisoner's Dilemma problem punctuated equilibrium replication researchers result role rules Santa Fe Institute schema scientists selection Social Technologies society strategy structure sugar Sugarscape tend theory things tion trading Traditional Economics units of selection Walras wealth Yanomamo