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

Book Description

In the Origin of Wealth, Eric Beinhocker offers a thorough and convincing new way to think about economic growth and business management. The author begins by exploring the roots of modern economic theory and ultimately declares it outmoded and wrong. Instead, he suggests, markets and growth can best be explained by drawing on the emerging field of complexity economics: the study of markets and social systems as complex adaptive systems. Although biological metaphors in business have become familiar (i.e., organizations are living organisms), Beinhocker moves beyond metaphor to explain the revolutions in science that will inevitably change the way we think about economics, competition, and business. The Origin of Wealth raises important questions such as: How can one create strategy in uncertain and fast moving environments? Why is it hard for large organizations to be innovative and how should we organize for better results? What role should governments play in this new era?

Customer Reviews:

Modern Classic.......2007-09-25

I would classify Eric Beinhocker's book as an instant classic. Although it is more of a survey of broad spectrum of economic studies, it is extremely well put together and well written. I promised myself that this is a book that requires a more detailed review but since I have not had time to write that yet, I want to at least share the following with the would be readers of this book:

Buy this book! The primary focus of the book is analysis of how emergence (no pun intended) of complex dynamical systems is changing the fundamentals of economics. Book does an excellent job of giving historical account of how mathematical foundations of economics was developed and influenced by the math/physics of the time: math of systems in equilibrium. Afterwords it methodically studies the complex dynamical systems, their impact on agent based modeling of complex phenomenon and how this development in mathematical thinking is already impacting economics. Last couple of chapters also provide ponderings of complex dynamical systems analysis and its impact on policy making and international relations.

Book is clearly written, well researched with excellent bibliography and captures some of the most throught provoking research in the industry in a simple and conherent fashion.

If I get time I promise to write a longer and more deserving review of this book.

Eye-popping paradigm shift in economics unveiled.......2007-07-14

On the subject matter...
Ever wonder why macro-economics didn't make sense?
Want to know more about how economies and markets really work?

On the writing...
The author provides a simple, compelling narrative which debunks a large portion of economics as it has been taught for the last 200 years. It then goes on to synthesize broad swaths of recent economic research into a cohesive vision of economics as an evolutionary open system and that observable macro-economic patterns are largely a product of the evolutionary algorithm at work.

If a high level understanding of the workings of economies or markets is of interest to you -- or you just want to unlearn a lot of false theory -- The Origin of Wealth is for you!

Must have for anyone who gave up on economics... like me.......2007-07-02

If you ever tried to read a book on economics, you probably loved the classics (Adam Smith, Shumpeter, Keynes...) but then you probably had an uneasy feeling about people trying to use some kind of Maxwell equation to explain the workings of the economy. That's where you probably decided that this science was either too complex for you (in fact, it is the world that is too complex for traditional economics) or that scholars were probably more interested in masturbating their brains than truly explaining the world. That's usually where a science needs a paradigm shift in order to stay alive in the world, and not just in academia.

Hopefully, things have changed and economists are now introducing concepts that gracefully embrace the nature of the subject : evolution, non-linear functions, psychology, sociology, and intelligent mathematics (the one that tries to fit with the actual world, not the opposite)

This book is a must have... The kind of book that makes you feel intelligent not because it's full of obscure concepts that you think you can loosely fit together, but because it is fact-based, well written, sometimes surprising, and most of all it feels right... which is truly groundbreaking.

Just like in nuclear physics, this science finally takes off the very moment it stops trying to fit the world in an a+b=c equation. Instead of having a precisely wrong theory, we now have something that accounts for the inherent complexity of the economy and unveils new and fascinating territories for us to discover.

A must for economics students!.......2007-07-01

I am an undergraduate student of economics and was always critical about the Traditional Economics theories that were presented in class. I never just accepted the textbook's mathmatical models as the ultimate truth and always looked for more. I read books from a wide range of areas, all supporting my view that there was something more to our economic life than what professors told us in class, but never making a clear connection to economic theory. I bought this book by chance before a long flight and can't say how happy I was when I realized what Beinhocker was saying. I could not stop reading and finished it in about a week. Beinhocker showed me how to break through the mathmatical barriers of traditional economics and think about economics in an exiting and liberating new way. His introduction to Complexity Economics (as he calls it) has given me new hope for economics and enthusiasm for my studies. I am already diving deeper and deeper into work mentioned in the references and a whole new world is opening in front of me! A. J. Sutter makes many valid points in his lengthy review above. I still think Beinhocker managed to write a book that is groundbreaking in its range of topics covered and its comprehensive overview of Complexity Economics.
No student of economics who has not at least heard about the topics mentioned in this book can say that he knows the subject he is studying.

The back door stage behind traditional economics and the first acts of a paradigm change.......2007-06-27

Truly a wonderful book reommended for young and curious economists around the world. A profound insight into Economic analisys that will pop up a couple of "new" and hidden ideas!

History: Fiction or Science? (Chronology, No. 1)

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Calculations are only as good as your numbers
Pants on fire?
Accepted History & Chronology Must Be Changed.
Very Interesting
History as Science Fiction

History: Fiction or Science? (Chronology, No. 1)
Anatoly Fomenko
Manufacturer: Mithec
ProductGroup: Book
Binding: Paperback

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Similar Items:

History: Fiction or Science? Chronology 2 (Chronology)
History: Fiction or Science? Astronomical methods as applied to chronology. Ptolemy's Almagest. Chronology III
Discovering the Mysteries of Ancient America: Lost History And Legends, Unearthed And Explored
Before the Pharaohs: Egypt's Mysterious Prehistory
They Cast No Shadows: A Collection of Essays on the Illuminati, Revisionist History, and Suppressed Technologies

ASIN: 2913621058

Book Description

Recorded history is a finely-woven magic fabric of intricate lies about events predating the sixteenth century. There is not a single piece of evidence that can be reliably and independently traced back earlier than the eleventh century. This book details events that are substantiated by hard facts and logic, and validated by new astronomical research and statistical analysis of ancient sources.

Customer Reviews:

Calculations are only as good as your numbers.......2007-08-03

Yes, we can all agree that mainstream history is nearly 100% BS due to politics, economics, ego, problems with dating techniques, and various conspiracies. Agreed. But, I've been researching the distinct possibility that human history (in terms of civilizations) are much more ancient than we've been told, so coming across this book was very interesting to me. I wondered how Fomenko could be wrong (if at all) because he is very persuasive in his presentations. Then it dawned on me. If at previous times in prehistory, due to the various catastrophies that are well documented (comets, asteroids, planetary disruptions, plasma discharge, pole reversals, etc) the Earth was in a different position in relation to the sun, different tilt on its axis, different orbit, different rotation (in terms of velocity and DIRECTION), and the continents were in different positions, then would this not cause the ancients to see the sky (constellations) differently? In other words, is Fomenko making erronious assumptions about the physics of the Earth in pre-history, which then corrupt his data with regards to dating the relevant astrology? The last event to seriously disrupt our planet occured roughly 3500 years ago, according to other good researchers, so is it possible Fomenko has been confused by this? The vastly different physics of our planet in the not so distant past may explain this confusion, which is not to say the "mainstream" version of history is correct; on the contrary. I am not an expert in these fields, but wanted to see if this idea could spark discussion.

Pants on fire?.......2007-07-19

Will people ever read before spamming? Yes, Jesuits could not rewrite world history alone, they had help. Anyway, Dr Prof Acad A.Fomenko does not point to jesuits as the driving force of world wide history manipulation in published volumes 1,2,3;, actually he barely mentions the poor devils. Check it with 'Search inside' feature, please. China is rarely mentioned either, in fact, Dr Fomenko is completely eurocentric. Right, his theory contradicts all mainstream schools of history, because in their actual state they are all built on blatantly erroneus chronology. You don't need a mysterious cabal (conspiracy) to falsify history, the falsification is its modus operandi. It is inherent to history(ians) to falsify (distort) events, as it is inherent to humans to boast as it is inherent to power (authority) to legimize itself by referrring to glorious past made to its own order. Dr Prof Fomenko and team have identified scores of instances of such manipulation in Russian, European, etc.. history, and delivered valid statistical proof thereof. His own 'reconstruction' is completely another story. Forget c14 as a valid method of dating. W.Libby has initially discovered a brilliant method of INDEPENDENT dating. Too bad, c14 method has become a joke after a forced marrige with dendrochronology with consensual chronological scale inbuilt. Radiocarbon method can't stand blind tests, but is so very productive as a rubberstamp.

Accepted History & Chronology Must Be Changed. .......2007-04-09

There is no doubt that history as most know it is a sham, & institution's version of History both University & Church is fradulent & inaccurate. Everything was established with an agenda, The real "Dark Ages" are now when we have access to incredible amounts of information past authorities & more important 'common folk' didn't have but our institutions & educators are slow to evolve because of what has ignorantly & arrogantly been taught for too long. This is on many subjects not just Chronology.

For anyone to question "Why would a Mathematician have anything credible to say of History?" The answer is from Dr. Fomenko's preface in the book: "It would be worthwhile to remind the reader that in the XVI-XVII century Chronology was considered to be a subdivision of Mathematics." These volumes could possibly be some of the most important works to date & should be read by everyone with an interest in History, especially professors & educators who have a duty to the public. I have read both books & must say that 'Chronology 1' has some very eye opening & revolutionary information. Even if these volumes are part true the implications are profound & opens the doors to further investigations & questions which must be done. I speak several different lanquages & must say the logic Dr. Fomenko uses with "inflection" of words & words being read from left to right in one region & right to left in another then written backwards, the removal of vowels & get down to basics of words, or different cities & locations having the same name etc. is correct. Vowel usage has always been optional & varied, actually complicating linquistics & study. The first thing one has to understand is that words never had a fixed spelling in history like we do now, the spelling of words was mutable & regional, as well as names & titles of people were vast, varied & changed, NOTHING WAS FIXED or understood linear. Matters of Life & Death as well as financial profiteering yesterday & today were & are made with ignorant, illogical & conspiratorial views of history & reality, it's time people get closer to the Truth & society collectively grow up.

Very Interesting.......2007-03-07

It is a good proposal and I believe it will mature into something even better in the future. I think it deserves to be read.

History as Science Fiction.......2007-01-10

Anatoly Fomenko has written a very intriguing book, full of pictures, charts, and computer 'proof' of his thesis: backwards of AD900 we don't really know what happened or when. Between AD900 and AD1600 there is more certainty, but there is still a lot of fuzzy ground, and things don't get reliable until we get past the 1600's where the printing press made it very difficult for the perpetrators of this timeline manipulation to change anything that had been committed to print. The Dark Ages did not happen. Books were burned for a reason. One organization has doubled the actual length of its existence by expanding the real chronology. Read why.

I had always wondered why Christ died about AD33 and yet men waited until the 11th century to form the Knights Templar, the Cathars, etc and go after the Holy Land by force. Why the 1000 year gap? Turns out there wasn't more than a 10-12 year gap and he proves it using astronomy. This also implies that the planet is not as old as we have been told, and current Christian and other creationist scientists are already championing that idea without being aware of Fomenko's book. The two groups, creationist scientists and the Russian mathematical analysts corroborate each other. Fascinating.

Of course, all this flies in the face of what we have been told traditionally is the 'proper' chronology of western civilization, and most readers will experience 'cognitive dissonance' in reading this book. It means that our history going backwards from AD1600 becomes progressively more incorrect and unreliable until it cannot be trusted at all... in the space of 700-800 years.

Naturally, the curious, open-minded reader will want to know WHO did this, WHY, and did any of the events we think of as really ancient ever happen?
Dr. Fomenko is a respected scientist/mathematician at Moscow State University who has already answered these questions to the satisfaction of his initially skeptical colleagues. Most of them are now believers, a few still refuse to believe (the usual diehards), and of course the western press has ignored Fomenko's work -- for obvious reasons when you read the book. The ones who perpetrated this chronology ruse have a lot to answer for. They are still with us. That's why this book is a well-kept secret.

I gave the book a 4-star rating because I was unable to check out some of his claims; those I checked were as he said. But if even 1/3 of his claims are true, this punches a big hole in what we think is our history, the meaning of western civilization, our educational process (for repeating the ruse as gospel), and the trustworthiness of the organization that perpetrated this ruse, well-intentioned or not.

This book relates to current research into a Young Earth paradigm, to John Keel's discoveries about our planet, and Fr Malachi Martin's insights (in his now out-of-print books). We are indeed sheep who are manipulated and kept ignorant -- for a reason. While knowing what these men have to say may be the "booby prize" (as in: 'what can you do with this knowledge?'), it will provide interesting reading. Didn't someone say: "...and the Truth will set you free."?? For you to judge if this book contains the truth.

Comparative Psychology: Evolution and Development of Behavior

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Comparative Psychology: Evolution and Development of Behavior
Mauricio R. Papini
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover

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ASIN: 0130804290

Book Description

This introduction to the evolutionary and developmental principles underlying the study of animal behavior provides a broad view of animal behavior from the comparative psychology perspective. Emphasizing problems and research interests that have traditional relevance for psychologist, the book uses examples drawn from specialized journals to provide a firm grasp of evolutionary science as it is applied to the understanding of behavior. The author discusses all aspects of the animal behavior including comparative learning and cognition, brain evolution and behavior, behavior genetics, behavioral ecology, social behavior in an ecological context, early experience and development, and the ontogeny of social behavior. For individuals interested in developing and deepening their understanding of evolutionary principles within psychology.

The Nature of the Firm: Origins, Evolution, and Development

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Excellent Starting Point
Readings on the "Firm"

The Nature of the Firm: Origins, Evolution, and Development

Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Paperback

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Similar Items:

The Economic Institutions of Capitalism
The Firm, the Market, and the Law
The Mechanisms of Governance
A Theory of the Firm: Governance, Residual Claims, and Organizational Forms
Scale and Scope: The Dynamics of Industrial Capitalism

ASIN: 0195083563

Book Description

In 1937, Ronald H. Coase published "The Nature of the Firm," a classic paper that raised fundamental questions about the concept of the firm in economic theory. Coase proposed that the comparative costs of organizing transactions through markets rather than within firms are the primary determinants of the size and scope of firms. Coase won the 1991 Nobel Prize in Economics for this work. This volume derives from a conference held in 1987 to commemorate the fiftieth anniversary of the publication of Coase's classic article. The first chapter affords an overview of the volume. It is followed by a republication of the 1937 article, and by the three lectures Coase presented at the conference. These lectures provide a lively and informative history of the origins and development of his thought. Subsequent chapters explore a wide-range of theoretical and empirical issues that have arisen in the transaction cost economic tradition. They illustrate the power of the transaction cost approach to enhance understanding not only of business firms, but of problems of economic organization generally. In addition to Coase's work, contributors include Sherwin Rosen, Paul Joskow, Oliver Hart, Harold Demsetz, Scott Masten, Benjamin Klein, as well as the volume's editors, Oliver E. Williamson, and Sidney G. Winter. The Nature of the Firm includes Coase's acceptance speech for his Nobel Prize in Economics.

Customer Reviews:

Excellent Starting Point.......2003-08-23

This book serves as an excellent introduction to the transaction cost motivated theories of the firm. The whole field started with the 1937 paper by Coase, which one can find here. Three other papers by Coase give a good background on how he came to write that paper and what its implications and influences are. His Nobel lecture is also included. They all make a nice reading and clear up some misunderstandings about Coase's work. Coase is an excellent writer.

The other papers are very good too. I especially liked the one by Harold Demsetz. It points out that there are some important shortcomings to the transactionialist view and outlines a alternative theory of the firm.

Almost all papers can be read without much knowledge about economics and without math, so anyone with an interest in the topic should take a look.

Readings on the "Firm".......2000-07-03

The papers imprinted there include Coase's "The Nature of the Firm" and his Nobel Lecture as well. The works of O. Williamson, O. Hart, S. Rosen, S. Winter, etc on the nature of the firm are also there.

One thing worth to note is that three of the papers are the lectures given by Coase in the 1987 conference (which is due to the 50th anniversery of the publication of his "The Nature of the Firm") are also included. The sub-title of this book speaks for itself.

Book Description

Why is it so difficult for liberal economic ideas to become generally accepted in industrializing countries despite the universal support for liberal political ideas and a single global market system? Drawing on the results of a sustained and collaborative interdiscipinary research project, international scholars provide a perspective on previous shifts towards (and away from) economic liberalism within Latin America, on the interaction of internal and external drivers in this process, and on the international context of the evolution of economic ideas.

Software Evolution and Feedback: Theory and Practice

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Software Evolution and Feedback: Theory and Practice

Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0470871806

Book Description

Evolution of software has long been recognized as one of the most problematic and challenging areas in the field of software engineering, as evidenced by the high, often up to 60-80%, life-cycle costs attributed to this activity over the life of a software system. Studies of software evolution are central to the understanding and practice of software development. Yet it has received relatively little attention in the field of software engineering. This book focuses on topics aimed at giving a scientific insight into the aspect of software evolution and feedback.

In summary, the book covers conceptual, phenomenological, empirical, technological and theoretical aspects of the field of software evolution - with contributions from the leading experts.

This book delivers an up-to-date scientific understanding of what software evolution is, to show why it is inevitable for real world applications, and it demonstrates the role of feedback in software development and maintenance. The book also addresses some of the phenomenological and technological underpinnings and includes rules and guidelines for increased software evolvability and, in general, sustainability of the evolution process.

Book Description

This important book explores the contribution states can make to overcoming collective action problems and create collective goods favorable to social, economic, and political development. It examines how state-society relations as well as features of state structure shape the conditions under which states seek to advance development and the conditions that make success more or less likely. And it offers empirical evidence showing that historical state structures have had lasting effects even on today's development. Particular focus is given to bureaucratic oversight, market functioning, and the assertion of democratic demands discipline state actions and contribute to state effectiveness. These propositions and the social mechanisms underlying them are examined in comparative historical and cross-national statistical analyses.

Development and Evolution: Including Psychophysical Evolution, Evolution by Orthoplasy, and the Theory of Genetic Modes

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Development and Evolution: Including Psychophysical Evolution, Evolution by Orthoplasy, and the Theory of Genetic Modes
James Mark Baldwin
Manufacturer: Adamant Media Corporation
ProductGroup: Book
Binding: Paperback

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ASIN: 1402160682
Release Date: 2002-02-22

Book Description

This Elibron Classics book is a facsimile reprint of a 1902 edition by the Macmillan Company, New York.

On Social Evolution (Heritage of Sociology Series)

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On Social Evolution (Heritage of Sociology Series)
Herbert Spencer
Manufacturer: Univ of Chicago Pr (Tx)
ProductGroup: Book
Binding: Paperback

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ASIN: 0226768937

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