The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of EconomicsBeinhocker has written this work in order to introduce a broad audience to what he believes is a revolutionary new paradigm in economics and its implications for our understanding of the creation of wealth. He describes how the growing field of complexity theory allows for evolutionary understanding of wealth creation, in which business designs co-evolve with the evolution of technologies and organizational innovations. In addition to giving his audience a tour of this field of complexity economics, he discusses its implications for real-world issues of business. |
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Page 39
... tion of finite resources was that the mathematical equations of equilibrium imported from physics were ideal for answering the allocation question , but it was more difficult to apply them to growth . Equilibrium systems by defini- tion ...
... tion of finite resources was that the mathematical equations of equilibrium imported from physics were ideal for answering the allocation question , but it was more difficult to apply them to growth . Equilibrium systems by defini- tion ...
Page 174
... tion . As new species arise and take their place in the ecosystem , they create an ordering of the food and niche network . The growth phase eventually flattens out and then is followed by an organized phase . In this phase , the ...
... tion . As new species arise and take their place in the ecosystem , they create an ordering of the food and niche network . The growth phase eventually flattens out and then is followed by an organized phase . In this phase , the ...
Page 305
... tion in its memory to make way for new information , it would be carrying out an irreversible process . Thus , as long as we have some finite bound on the economy ( i.e. , the economy is a subsystem of the universe and not the uni ...
... tion in its memory to make way for new information , it would be carrying out an irreversible process . Thus , as long as we have some finite bound on the economy ( i.e. , the economy is a subsystem of the universe and not the uni ...
Contents
ONE The Question | 3 |
TWO Traditional Economics | 21 |
THREE A Critique | 45 |
Copyright | |
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The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of ... Eric D. Beinhocker No preview available - 2007 |
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agents algorithm assumptions behavior biological Business Plans Cambridge capital chapter competitive complex adaptive system Complexity Economics cooperation create culture cycle decisions design space developed discussed dynamic economists energy entropy environment Epstein and Axtell equilibrium evolutionary system evolved example experiments Farmer feedback finance fitness function fitness landscape genes growth hierarchy human ideas imagine individual innovation interactions investment investors Kauffman LEGO Likewise look management team mathematical mental models molecules networks nomic nonlinear norms organizational organizations pattern percent perfect rationality Physical Technology play population predictions Press Prisoner's Dilemma problem punctuated equilibrium replication researchers result role rules Santa Fe Institute schema scientists selection Social Technologies society strategy structure Stuart Kauffman sugar Sugarscape theory things tion trading Traditional Economics units of selection University Walras wealth Yanomamö York