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Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World

Book by George Gilder · 4 quotes · Economics, Economy, Order

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Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World Quotes

“In an information economy, entrepreneurs master the science of information in order to overcome the laws of the purely physical sciences. They can succeed because of the surprising power of the laws of information, which are conducive to human creativity. The central concept of information theory is a measure of freedom of choice. The principle of matter, on the other hand, is not liberty but limitation- it has weight and occupies space.”

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“From the equilibrium and spontaneous order of Adam Smith and his heirs, from invisible-handed markets and perfect competition, supply and demand, and rewards and punishments, I was pushed to theories of disequilibrium and disorder, and information and noise, as the keys to understanding economic progress.”

OrderUnderstandingPerfectProgressEconomicInformationTheoryKeysDemandEconomicsCompetitionRewardsPunishmentInvisibleNoiseDisorderAdamSpontaneousEquilibriumHeirsSupply And DemandReward And PunishmentEconomic ProgressDisequilibriumPerfect Competition
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“In order to understand the movement of prices, you need not an oscilloscope to measure the entire market and reduce it to noise, but a microscope to investigate the creative process behind every company and its price.”

NeedsOrderProcessBehindsCompanyCreativeMovementEconomicsNoiseCreative ProcessMicroscopes
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“Entropy is Janus-faced. Its upside surprises are redemptive and favorable to freedom. It is freedom of choice. But the carrier itself requires constant vigilance against entropic noise. Order is not spontaneous, but it is a necessary condition for all the surprises of freedom and opportunity.”

OrderChoicesOpportunityConditionsEconomicsConstantSurpriseNoiseSpontaneousFreedom Of ChoiceVigilanceEntropyCarrierJanus
Book:Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World
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