The Origin Of Wealth: Evolution, Complexity, and the Radical Remaking of Economics [Paperback]

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.

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.

In provocative and entertaining fashion, Beinhocker describes how ‘Complexity Economics’ provides a new explanation for one of the deepest mysteries in the field: the origin of wealth. What is wealth? How is it created? Why has humankind gone from making stone tools in caves to the enormously complex $36.5 trillion global economy today?

The answer according to Beinhocker is evolution. Modern science views evolution as not just a biological phenomenon, but as a general purpose formula for innovation. 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. --This text refers to an out of print or unavailable edition of this title.

What is wealth? How is it created? How can we create more of it?

This groundbreaking book shows how revolutionary ideas from economics and science are providing new answers to these age-old questions. Around the world researchers are upending a hundred years of economic theory and recasting the economy as a teeming evolutionary stew, a 'complex adaptive system' more akin to the brain, the internet, or an ecosystem than to the static picture presented by traditional theory. In provocative fashion, Eric Beinhocker describes how this new theory of the economy will fundamentally change our thinking on topics ranging from technological innovation, to the workings of the stock market, to political debates about right versus left. Thought-provoking and stimulating, The Origin of Wealth sets the agenda for twenty-first century economic thinking.

'A brilliant piece of intellectual history.' Steven Pearlstein, Washington Post

'Ambitious ... convention shattering ... its premise is novel and sweeping: Don't grow your organization, evolve it.' Josh McHugh, Wired

'Masterful ... Beinhocker writes with passion ... a fascinating subject and a pleasure to read.' London Book Review