7 Questions that Change the Way People Think — Leadership Freak

When making decisions the most important thing is to make them. The principles of decision-making include: Go with your highest point of clarity. (Important decisions are never perfectly clear.) Keep moving forward, especially after making mistakes. Fear creates a disappointing future. 7 questions that change the way people think: #1. Will it cause harm? Reasonable […]

7 Questions that Change the Way People Think — Leadership Freak

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

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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