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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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“The most important feature of an information economy, in which information is defined as surprise, is the overthrow, not the attainment, of equilibrium. The science that we have come to know as information theory establishes the supremacy of the entrepreneur because it appreciates the powerful connection between destruction and what Schumpeter described as "creative destruction," between chaos and creativity.”

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