why information grows the evolution of order from atoms to economies

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Why Information Grows

Author : Cesar Hidalgo
ISBN : 9780465039715
Genre : Business & Economics
File Size : 75. 23 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
ISBN : 9780465039715
Genre : Business & Economics
File Size : 53. 97 MB
Format : PDF, ePub
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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
ISBN : 9780141978031
Genre : Business & Economics
File Size : 87. 56 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
ISBN : 9780262317733
Genre : Business & Economics
File Size : 47. 23 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.

Why Minsky Matters

Author : L. Randall Wray
ISBN : 9781400873494
Genre : Business & Economics
File Size : 60. 54 MB
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Perhaps no economist was more vindicated by the global financial crisis than Hyman P. Minsky (1919–96). Although a handful of economists raised alarms as early as 2000, Minsky's warnings began a half-century earlier, with writings that set out a compelling theory of financial instability. Yet even today he remains largely outside mainstream economics; few people have a good grasp of his writings, and fewer still understand their full importance. Why Minsky Matters makes the maverick economist’s critically valuable insights accessible to general readers for the first time. L. Randall Wray shows that by understanding Minsky we will not only see the next crisis coming but we might be able to act quickly enough to prevent it. As Wray explains, Minsky’s most important idea is that "stability is destabilizing": to the degree that the economy achieves what looks to be robust and stable growth, it is setting up the conditions in which a crash becomes ever more likely. Before the financial crisis, mainstream economists pointed to much evidence that the economy was more stable, but their predictions were completely wrong because they disregarded Minsky’s insight. Wray also introduces Minsky’s significant work on money and banking, poverty and unemployment, and the evolution of capitalism, as well as his proposals for reforming the financial system and promoting economic stability. A much-needed introduction to an economist whose ideas are more relevant than ever, Why Minsky Matters is essential reading for anyone who wants to understand why economic crises are becoming more frequent and severe—and what we can do about it.

The Engine Of Complexity

Author : John E. Mayfield
ISBN : 9780231535281
Genre : Science
File Size : 22. 93 MB
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The concepts of evolution and complexity theory have become part of the intellectual ether permeating the life sciences, the social and behavioral sciences, and, more recently, management science and economics. In this book, John E. Mayfield elegantly synthesizes core concepts from multiple disciplines to offer a new approach to understanding how evolution works and how complex organisms, structures, organizations, and social orders can and do arise based on information theory and computational science. Intended for the intellectually adventuresome, this book challenges and rewards readers with a nuanced understanding of evolution and complexity that offers consistent, durable, and coherent explanations for major aspects of our life experiences. Numerous examples throughout the book illustrate evolution and complexity formation in action and highlight the core function of computation lying at the work's heart.

The Wealth Of Humans

Author : Ryan Avent
ISBN : 9781250075802
Genre : Business & Economics
File Size : 64. 25 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.

Information Theory

Author : JV Stone
ISBN : 9780956372857
Genre : Information theory
File Size : 51. 81 MB
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Originally developed by Claude Shannon in the 1940s, information theory laid the foundations for the digital revolution, and is now an essential tool in telecommunications, genetics, linguistics, brain sciences, and deep space communication. In this richly illustrated book, accessible examples are used to introduce information theory in terms of everyday games like ‘20 questions’ before more advanced topics are explored. Online MatLab and Python computer programs provide hands-on experience of information theory in action, and PowerPoint slides give support for teaching. Written in an informal style, with a comprehensive glossary and tutorial appendices, this text is an ideal primer for novices who wish to learn the essential principles and applications of information theory.

The Perfect Theory

Author : Pedro G. Ferreira
ISBN : 9780547554907
Genre : Science
File Size : 44. 73 MB
Format : PDF
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“One of the best popular accounts of how Einstein and his followers have been trying to explain the universe for decades” (Kirkus Reviews, starred review). Physicists have been exploring, debating, and questioning the general theory of relativity ever since Albert Einstein first presented it in 1915. This has driven their work to unveil the universe’s surprising secrets even further, and many believe more wonders remain hidden within the theory’s tangle of equations, waiting to be exposed. In this sweeping narrative of science and culture, an astrophysicist brings general relativity to life through the story of the brilliant physicists, mathematicians, and astronomers who have taken up its challenge. For these scientists, the theory has been both a treasure trove and an enigma. Einstein’s theory, which explains the relationships among gravity, space, and time, is possibly the most perfect intellectual achievement of modern physics—yet studying it has always been a controversial endeavor. Relativists were the target of persecution in Hitler’s Germany, hounded in Stalin’s Russia, and disdained in 1950s America. Even today, PhD students are warned that specializing in general relativity will make them unemployable. Still, general relativity has flourished, delivering key insights into our understanding of the origin of time and the evolution of all the stars and galaxies in the cosmos. Its adherents have revealed what lies at the farthest reaches of the universe, shed light on the smallest scales of existence, and explained how the fabric of reality emerges. Dark matter, dark energy, black holes, and string theory are all progeny of Einstein’s theory. In the midst of a momentous transformation in modern physics, as scientists look farther and more clearly into space than ever before, The Perfect Theory exposes the greater relevance of general relativity, showing us where it started, where it has led—and where it can still take us.

Evolution Of Networks

Author : S. N. Dorogovtsev
ISBN : 9780199686711
Genre : Business & Economics
File Size : 47. 16 MB
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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.

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