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Quote by George Gilder

“At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.”

Quote by George Gilder

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

This book delves into the intersection of information theory and capitalism, analyzing how information dynamics influence economic systems and societal transformations. more

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George Gilder
George Gilder

George Gilder, born on November 29, 1939, is an American writer, economist, and technology critic. His works cover economics, technology, and public policy, offering profound insights into free markets and technological innovation. more

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“Enforced by genetics, sexual reproduction, perspective, and experience, the most manifest characteristic of human beings is their diversity. The freer an economy is, the more this human diversity of knowledge will be manifested. By contrast, political power originates in top-down processes-governments, monopolies, regulators, and elite institutions- all attempting to quell human diversity and impose order. Thus power always seeks centralization.”

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Author:George Gilder
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“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.”

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

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

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Book:Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World
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“It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them. As Henry Ford said many years earlier: "If I had listened to my customers, I would have built a faster horse." Inventions in general express Shannon entropy. They come from the supply side.”

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

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Book:Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World
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“Entrepreneurial creation is the generation, de novo, of novelty and surprise- freedom of choice originating in the world of ideas, and imagination beyond all concern with chemicals. The contrary view- that all ideas are determined by material relationships- is the materialist superstition.”

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