Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics

Beinhocker, Eric D.

ISBN 10: 157851777X / ISBN 13: 9781578517770

Published by Harvard Business Review Press, 2006

About this Item

Prompt service guaranteed. Seller Inventory # Clean157851777X

Bibliographic Details

Title: Origin of Wealth: Evolution, Complexity, and...

Publisher: Harvard Business Review Press

Publication Date: 2006

Binding: Hardcover

Condition: new

About this title

Synopsis:

Accounting for the creation of wealth has long challenged humanity's best minds. For business readers and academics, Beinhocker is a zealous and able guide to the emerging economic paradigm shift he calls the "Complexity Economics revolution." A fellow of the economic think tank McKinsey Global Institute, he rejects traditional economic theory, based on a physics model of closed systems, in which change is an external disruptive shock. Instead, he outlines an open, adaptive system with interlocking networks that change organically, reflecting the interaction of technological innovation, social development and business practice. Wealth is created to the degree that this interaction decreases entropy in favor of "fit order" that meets human needs, desires and preferences. Beinhocker is sufficiently comfortable with this evolutionary model to advocate a comprehensive redesigning of institutions and society to facilitate it. He argues for corporate policies that favor many small risks...

Review:

...a brilliant, thought-provoking and wide-ranging book...
-- Financial Times, January 17, 2007