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Why Information Grows

Author: Cesar Hidalgo
Publisher: Basic Books
ISBN: 0465039715
Size: 29.32 MB
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What is economic growth? And why, historically, has it occurred in only a few places? Previous efforts to answer these questions have focused on institutions, geography, finances, and psychology. But according to MIT’s antidisciplinarian César Hidalgo, understanding the nature of economic growth demands transcending the social sciences and including the natural sciences of information, networks, and complexity. To understand the growth of economies, Hidalgo argues, we first need to understand the growth of order. At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order—or information—disappears. Whispers vanish in the wind just like the beauty of swirling cigarette smoke collapses into disorderly clouds. But thermodynamics also has loopholes that promote the growth of information in pockets. Although cities are all pockets where information grows, they are not all the same. For every Silicon Valley, Tokyo, and Paris, there are dozens of places with economies that accomplish little more than pulling rocks out of the ground. So, why does the US economy outstrip Brazil’s, and Brazil’s that of Chad? Why did the technology corridor along Boston’s Route 128 languish while Silicon Valley blossomed? In each case, the key is how people, firms, and the networks they form make use of information. Seen from Hidalgo’s vantage, economies become distributed computers, made of networks of people, and the problem of economic development becomes the problem of making these computers more powerful. By uncovering the mechanisms that enable the growth of information in nature and society, Why Information Grows lays bear the origins of physical order and economic growth. Situated at the nexus of information theory, physics, sociology, and economics, this book propounds a new theory of how economies can do not just more things, but more interesting things.

Why Information Grows

Author: Cesar Hidalgo
Publisher: Hachette UK
ISBN: 0465039715
Size: 76.24 MB
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"Hidalgo has made a bold attempt to synthesize a large body of cutting-edge work into a readable, slender volume. This is the future of growth theory." --Financial Times What is economic growth? And why, historically, has it occurred in only a few places? Previous efforts to answer these questions have focused on institutions, geography, finances, and psychology. But according to MIT's antidisciplinarian César Hidalgo, understanding the nature of economic growth demands transcending the social sciences and including the natural sciences of information, networks, and complexity. To understand the growth of economies, Hidalgo argues, we first need to understand the growth of order. At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order-or information-disappears. Whispers vanish in the wind just like the beauty of swirling cigarette smoke collapses into disorderly clouds. But thermodynamics also has loopholes that promote the growth of information in pockets. Although cities are all pockets where information grows, they are not all the same. For every Silicon Valley, Tokyo, and Paris, there are dozens of places with economies that accomplish little more than pulling rocks out of the ground. So, why does the US economy outstrip Brazil's, and Brazil's that of Chad? Why did the technology corridor along Boston's Route 128 languish while Silicon Valley blossomed? In each case, the key is how people, firms, and the networks they form make use of information. Seen from Hidalgo's vantage, economies become distributed computers, made of networks of people, and the problem of economic development becomes the problem of making these computers more powerful. By uncovering the mechanisms that enable the growth of information in nature and society, Why Information Grows lays bear the origins of physical order and economic growth. Situated at the nexus of information theory, physics, sociology, and economics, this book propounds a new theory of how economies can do not just more things, but more interesting things.

Why Information Grows

Author: César Hidalgo
Publisher: Penguin UK
ISBN: 0141978031
Size: 14.43 MB
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In Why Information Grows, rising star César Hidalgo offers a radical interpretation of global economics While economists often turn to measures like GDP or per-capita income, César Hidalgo turns to information theory to explain the success or failure of a country's economic performance. Through a radical rethinking of what the economy is, Hidalgo shows that natural constraints in our ability to accumulate knowledge, knowhow and information explain the evolution of social and economic complexity. This is a rare tour de force, linking economics, sociology, physics, biology and information theory, to explain the evolution of social and economic systems as a consequence of the physical embodiment of information in a world where knowledge is quite literally power. César Hidalgo leads the Macro Connections group at the MIT Media Lab. A trained statistical physicist and an expert on Networks and Complex Systems, he also has extensive experience in the field of economic development and has pioneered research on how big data impacts economic decision-making.

The Atlas Of Economic Complexity

Author: Ricardo Hausmann
Publisher: MIT Press
ISBN: 0262317737
Size: 14.70 MB
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Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products.Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling.Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.

Evolution Of Networks

Author: S. N. Dorogovtsev
Publisher: Oxford University Press
ISBN: 0199686718
Size: 28.74 MB
Format: PDF
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We live in a world of networks, where everything is amazingly close to everything else. The notion of 'network' turns out to be central to our times: the Internet and WWW are changing our lives; our physical existence is based on various biological networks; we are involved in all-enveloping networks of economic and social relations. Only in the 1990s did physicists begin to explore real networks, both natural and artificial, as evolving systems with intriguingly complex and effective architectures. Progress has been so immediate and astounding that we actually face a new science based on a new set of concepts, and, one may even say, on a new philosophy: the natural philosophy of a small world. Old ideas from mathematics, statistical physics, biology, computer science, and so on take on quite new forms in applications to real evolving networks. - What is common to all networks? - What are the general principles of the organization and evolution of networks? - How do the laws of nature work in communication, biological, and social networks? - What are networks? This book, written by physicists, answers these questions and presents a general insight into the world of networks.

Digital Destiny

Author: Shawn DuBravac
Publisher: Simon and Schuster
ISBN: 162157380X
Size: 67.63 MB
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Our world is about to change. In Digital Destiny: How the New Age of Data Will Change the Way We Live, Work, and Communicate, Shawn DuBravac, chief economist and senior director of research at the Consumer Electronics Association (CEA), argues that the groundswell of digital ownership unfolding in our lives signals the beginning of a new era for humanity. Beyond just hardware acquisition, the next decade will be defined by an all-digital lifestyle and the “Internet of Everything”—where everything, from the dishwasher to the wristwatch, is not only online, but acquiring, analyzing, and utilizing the data that surrounds us. But what does this mean in practice? It means that some of mankind’s most pressing problems, such as hunger, disease, and security, will finally have a solution. It means that the rise of driverless cars could save thousands of American lives each year, and perhaps hundreds of thousands more around the planet. It means a departure from millennia-old practices, such as the need for urban centers. It means that massive inefficiencies, such as the supply chains in Africa allowing food to rot before it can be fed to the hungry, can be overcome. It means that individuals will have more freedom in action, work, health, and pursuits than ever before.

The Wealth Of Humans

Author: Ryan Avent
Publisher: Macmillan
ISBN: 1250075807
Size: 63.51 MB
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An investigation of how the digital revolution is fundamentally changing our concept of work, and what it means for our future economy.

The Origin Of Wealth

Author: Eric D. Beinhocker
Publisher: Harvard Business Press
ISBN: 9781578517770
Size: 66.30 MB
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What is wealth? How is it created? And how can we create more of it for the benefit of individuals, businesses, and societies? In The Origin of Wealth, Eric Beinhocker provides provocative new answers to these fundamental questions. Beinhocker surveys the cutting-edge ideas of economists and scientists and brings their work alive for a broad audience. These researchers, he explains, are revolutionizing economics by showing how the economy is an evolutionary system, much like a biological system. It is economic evolution that creates wealth and has taken us from the Stone Age to the $36.5 trillion global economy of today. By better understanding economic evolution, Beinhocker writes, we can better understand how to create more wealth. The author shows how complexity economics is turning conventional wisdom on its head in areas ranging from business strategy and organizational design to investment strategy and public policy. As sweeping in scope as its title, The Origin of Wealth will rewire our thinking about the workings of the global economy and where it is going.

Complexity And The Arrow Of Time

Author: Charles H. Lineweaver
Publisher: Cambridge University Press
ISBN: 1107276632
Size: 37.35 MB
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There is a widespread assumption that the universe in general, and life in particular, is 'getting more complex with time'. This book brings together a wide range of experts in science, philosophy and theology and unveils their joint effort in exploring this idea. They confront essential problems behind the theory of complexity and the role of life within it: what is complexity? When does it increase, and why? Is the universe evolving towards states of ever greater complexity and diversity? If so, what is the source of this universal enrichment? This book addresses those difficult questions, and offers a unique cross-disciplinary perspective on some of the most profound issues at the heart of science and philosophy. Readers will gain insights in complexity that reach deep into key areas of physics, biology, complexity science, philosophy and religion.