Why Information Grows (Paperback)

Cesar Hidalgo

ISBN 10: 0465096840 / ISBN 13: 9780465096848

Editore: Basic Books, 2017

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Paperback. "Hidalgo has made a bold attempt to synthesize a large body of cutting-edge work into a readable, slender volume. This is the future of growth theory." --Financial Times What is economic growth? And why, historically, has it occurred in only a few places? Previous efforts to answer these questions have focused on institutions, geography, finances, and psychology. But according to MIT's antidisciplinarian Cesar Hidalgo, understanding the nature of economic growth demands transcending the social sciences and including the natural sciences of information, networks, and complexity. To understand the growth of economies, Hidalgo argues, we first need to understand the growth of order. At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order-or information-disappears. Whispers vanish in the wind just like the beauty of swirling cigarette smoke collapses into disorderly clouds. But thermodynamics also has loopholes that promote the growth of information in pockets. Although cities are all pockets where information grows, they are not all the same.For every Silicon Valley, Tokyo, and Paris, there are dozens of places with economies that accomplish little more than pulling rocks out of the ground. So, why does the US economy outstrip Brazil's, and Brazil's that of Chad? Why did the technology corridor along Boston's Route 128 languish while Silicon Valley blossomed? In each case, the key is how people, firms, and the networks they form make use of information. Seen from Hidalgo's vantage, economies become distributed computers, made of networks of people, and the problem of economic development becomes the problem of making these computers more powerful. By uncovering the mechanisms that enable the growth of information in nature and society, Why Information Grows lays bear the origins of physical order and economic growth. Situated at the nexus of information theory, physics, sociology, and economics, this book propounds a new theory of how economies can do not just more things, but more interesting things. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability.

Codice articolo 9780465096848

Dati bibliografici

• Titolo: Why Information Grows (Paperback)
• Editore: Basic Books
• Data di pubblicazione: 2017
• Lingua: Inglese
• ISBN 10: 0465096840
• ISBN 13: 9780465096848
• Rilegatura: Paperback
• Condizione: new

Descrizione articolo

Riassunto

"Hidalgo has made a bold attempt to synthesize a large body of cutting-edge work into a readable, slender volume. This is the future of growth theory." --Financial Times

What is economic growth? And why, historically, has it occurred in only a few places? Previous efforts to answer these questions have focused on institutions, geography, finances, and psychology. But according to MIT's antidisciplinarian César Hidalgo, understanding the nature of economic growth demands transcending the social sciences and including the natural sciences of information, networks, and complexity. To understand the growth of economies, Hidalgo argues, we first need to understand the growth of order.

At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order-or information-disappears. Whispers vanish in the wind just like the beauty of swirling cigarette smoke collapses into disorderly clouds. But thermodynamics also has loopholes that promote the growth of information in pockets. Although cities are all pockets where information grows, they are not all the same. For every Silicon Valley, Tokyo, and Paris, there are dozens of places with economies that accomplish little more than pulling rocks out of the ground. So, why does the US economy outstrip Brazil's, and Brazil's that of Chad? Why did the technology corridor along Boston's Route 128 languish while Silicon Valley blossomed? In each case, the key is how people, firms, and the networks they form make use of information.

Seen from Hidalgo's vantage, economies become distributed computers, made of networks of people, and the problem of economic development becomes the problem of making these computers more powerful. By uncovering the mechanisms that enable the growth of information in nature and society, Why Information Grows lays bear the origins of physical order and economic growth. Situated at the nexus of information theory, physics, sociology, and economics, this book propounds a new theory of how economies can do not just more things, but more interesting things.

Informazioni sugli autori

Cesar Hidalgo leads the Macro Connections group at the MIT Media Lab and is an Adjunct Lecturer in Public Policy at the Kennedy School. A trained physicist, he also has extensive experience in the field of economic development and has pioneered research on how big data impacts economic decision-making.

Cesar Hidalgo leads the Macro Connections group at the MIT Media Lab and is an Adjunct Lecturer in Public Policy at the Kennedy School. A trained physicist, he also has extensive experience in the field of economic development and has pioneered research on how big data impacts economic decision-making.