Evolution, Complexity, and the Radical Remaking of Economics
Eric D. Beinhocker
overview
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?
