Book Summary: “The Origin of Wealth” by Eric D. Beinhocker

“Evolution is an algorithm; it is an all-purpose formula for innovation, a formula that, through its special brand of trial and error, creates new designs and solves difficult problems.”

The Ratchet of Technology, a site by Michael Magoon

Title:The Origin of Wealth, Evolution, Complexity and the Radical Remaking of the Economics
Author: Eric D Beinhocker
Scope: 4.5 stars
Readability: 3.5 stars
My personal rating: 5 stars
See more on my book rating system.

If you enjoy this summary, please support the author by buying the book.

Topic of Book

The economy is a complex, adaptive system that evolves in ways similar to how biological organism evolve in nature. This means that we have to reconceptualize economics.

Key Take-aways

  • Traditional economics assumes that the economy is a closed-stable system. Because of this assumption, economist cannot answer the most basic question: where did the economy come from?
  • The actual economy is an open, unstable system.
  • Wealth creation is the product of a simple, but profoundly powerful, three-step formula— differentiate, select, and amplify.
  • The three-way coevolution of Technology, Cooperation, and Business Models that accounts for the patterns of change…

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MarketWatch: Here are four reasons the West is headed for a ‘very drastic crisis,’ according to a veteran economist

MarketWatch: Here are four reasons the West is headed for a ‘very drastic crisis,’ according to a veteran economist. https://www.marketwatch.com/story/here-are-four-reasons-the-west-is-headed-for-a-very-drastic-crisis-according-to-a-veteran-economist-11625655832

Our new ecosystem platform

The technology for our new ecosystem platform features a collaborative, open-source knowledge repository. Natural language artificial Intelligence search algorithms identify, organize, and feature highly relevant content while also and rating and ranking the participating experts. Enterprise search tools powered by machine learning and conversational intelligence, gather unstructured data from across the web pulling out the relevant facts for the best business decisions.  Meanwhile, consensus mechanisms rate and reward the best contributing experts.  

Next Steps:  

Identify a ‘brain trust” of like- minded individuals to hone the strategic vision and outline the initial process workflow of the platform. To accelerate our initial efforts, we are now recruiting a co-founding board of directors. In addition, we are seeking growth capital partners to further develop our technology platform, hire professional management, and create inbound marketing, publishing, and other organizational support services.  

To learn more about this business expansion opportunity, contact:    

Michael R. Nall mnall@midmarketplace.com  

312.636.9105 

Book Summary: “The Great Leveler: Violence and the History of Inequality” by Walter Scheidel — The Ratchet of Technology, a site by Michael Magoon

Title: Great Leveler: Violence and the History of Inequality from the Stone Age to the Twentieth CenturyAuthor: Walter ScheidelScope: 4 starsReadability: 4 starsMy personal rating: 5 starsSee more on my book rating system. If you enjoy this summary, please support the author by buying the book. Topic of Book Schiedel explores the causes of changing levels […]

Book Summary: “The Great Leveler: Violence and the History of Inequality” by Walter Scheidel — The Ratchet of Technology, a site by Michael Magoon

Participatory modeling – Wikipedia — Systems Community of Inquiry

Participatory modeling Participatory modeling – Wikipedia Participatory modeling is a purposeful learning process for action that engages the implicit and explicit knowledge of stakeholders to create formalized and shared representation(s) of reality. In this process, the participants co-formulate the problem and use modeling practices to aid in the description, solution, and decision-making actions of the group. […]

Participatory modeling – Wikipedia — Systems Community of Inquiry