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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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