Economics is changing radically. This paradigm shift,
the biggest in the field for over a century, will have
profound implications for business, government and
society for decades to come. In this groundbreaking
book, economic thinker and writer Eric Beinhocker
surveys the cutting-edge ideas of the leading
economists, physicists, biologists and cognitive
scientists who are fundamentally reshaping economics,
and brings their work alive for a broad audience. These
researchers argue that the economy is a 'complex
adaptive system', more akin to the brain, the internet
or an ecosystem than to the static picture of economic
systems portrayed by traditional theory. They claim it
is the evolutionary process of differentiation,
selection and amplification, acting on designs for
technologies, social institutions and businesses that
drives growth in the economy over time. If Adam Smith
provided the inspiration for economics in the twentieth
century, it is Charles Darwin who is providing it in the
twenty-first. If we can understand how evolution creates
wealth, then we can better answer the question 'How can
we create more wealth for the benefit of individuals,
businesses and society?'Beinhocker shows how 'Complexity
Economics' turns conventional wisdom on its head in
areas such as business strategy, the design of
organisations, the workings of stock markets and public
policy. As sweeping in scope as its title, ''The Origin
of Wealth'' is a landmark book that shatters orthodox
economic theory, and will rewire our thinking about how
we came to be here - and where we are going. |
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