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Ronald Reagan’s most-quoted living author—George Gilder—is back with an all-new paradigm-shifting theory of capitalism that will upturn conventional wisdom, just when our economy desperately needs a new direction.

America’s struggling economy needs a better philosophy than the college student''s lament: "I can''t be out of money, I still have checks in my checkbook!" We’ve tried a government spending spree, and we’ve learned it doesn’t work. Now is the time to rededicate our country to the pursuit of free market capitalism, before we’re buried under a mound of debt and unfunded entitlements. But how do we navigate between government spending that''s too big to sustain and financial institutions that are "too big to fail?" In Knowledge and Power, George Gilder proposes a bold new theory on how capitalism produces wealth and how our economy can regain its vitality and its growth.

Gilder breaks away from the supply-side model of economics to present a new economic paradigm: the epic conflict between the knowledge of entrepreneurs on one side, and the blunt power of government on the other. The knowledge of entrepreneurs, and their freedom to share and use that knowledge, are the sparks that light up the economy and set its gears in motion. The power of government to regulate, stifle, manipulate, subsidize or suppress knowledge and ideas is the inertia that slows those gears down, or keeps them from turning at all.

One of the twentieth century’s defining economic minds has returned with a new philosophy to carry us into the twenty-first. Knowledge and Power is a must-read for fiscal conservatives, business owners, CEOs, investors, and anyone interested in propelling America’s economy to future success.

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The list of Regnery authors reads like a "who''s who" of conservative thought, action, and history.

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4.3 out of 54.3 out of 5
192 global ratings

Top reviews from the United States

P.E.S
5.0 out of 5 starsVerified Purchase
Information-based Economics, a Critique of Keynes, and Why Capitalism Works
Reviewed in the United States on April 28, 2020
Knowledge and Power is a book about a new theory of economics that derives its core from Claude Shannon’s information theory. Gilder begins by introducing the reader to what information theory is and its two most crucial components: information and entropy. He describes... See more
Knowledge and Power is a book about a new theory of economics that derives its core from Claude Shannon’s information theory. Gilder begins by introducing the reader to what information theory is and its two most crucial components: information and entropy. He describes information early in the book as “surprise”, but this definition is rather vague. As he continues throughout the book, at the beginning of the eleventh chapter, Gilder leaves the best sentence for what the information he is describing truly is: “Information is Change in what we know”. A change in one’s knowledge for the greater. Using this definition of information alongside Shannon’s concept of entropy (a random and continuous flow that all information has to disseminate; this can be either high or low), Gilder sets up a convincing proposition that supply and demand economics are wrong and that information theory can beat their explanations of the economy.

Largely the dominant theme of the book, Information-based economics also shares a small bit of the spotlight with two primary sub-themes. These sub-themes are Gilder’s scathing critiques of the Keynesian school of economics and of what Gilder calls the “materialist supposition”. Gilder considers the Keynesian crisis response that most modern politicians hail to be the dominant source of why capitalism has had such a decline in the West. He sees Keynesian inflation techniques and overreaching government regulation as a foe of capitalism on par with socialism and provides various examples that prove the Keynesians wrong. In addition, Gilder takes on the notion that one can simply reduce everything to a few chemical reactions and through a combination of quantum physics and information theory philosophy dismantles the supposition, which he believes takes away the credit of entrepreneurs and their contributions to economic growth.

Gilder ends his book with the assertion that capitalism works because it must give before it can take. This risky action demonstrates the care that capitalists take to invest and purchase. In a capitalistic society, investors must truly believe in the success of what they invest in without any notion that they can guarantee their success. This hope and freedom of outcome are what drive innovation in a capitalist society and they are what set the system apart from all others.

My only complaints about the book are that Gilder’s definition of information is a tad vague, even with the chapter eleven revelation. The other complaint is that Gilder at times gets very technical. Overall, a great book with many intriguing insights into why and how capitalism truly works, a real thought provoker.
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Colleen K.
1.0 out of 5 starsVerified Purchase
Garbage. I''m interested in the topic but this book sucks.
Reviewed in the United States on June 12, 2020
Garbage that ironically increases in value the more time passes and the more the author is proven wrong. It does have the honor of being the most ironic book I''ve ever read. I never imagined a book based on information theory would have so much noise that it overwhelmed any... See more
Garbage that ironically increases in value the more time passes and the more the author is proven wrong. It does have the honor of being the most ironic book I''ve ever read. I never imagined a book based on information theory would have so much noise that it overwhelmed any semblance of a signal. I would still like to read a better written and researched book on this topic. Although after the horrible attempt here I will most likely separate it into one book on information theory and a different book on supply side economics.

I will keep this book as a time capsule of the toxic culture and thinking that were so prevalent in the decade it was written in. Calling Obama a socialist is no different from calling Trump a fascist. It irrelevant if the author says one or those or the other. Left or right wing we should all decry ideologues that use those words. I''m left wondering how much to comment on specific ideas in the book. Does the author deserve my respect? Certainly not on the merits of this book.

I will however honor the good faith of people that venture to read this book. You are likely trying to gain knowledge and the topic intrigues you. Here are four points that will increase your knowledge and help you understand why this book is garbage. The first point is to look at the actual data on Kyoto cherry blossoms mentioned in the book. Don''t read left or right wing analysis. Don''t look at a chart. Go get the actual data (up to the most recent year) and build the chart yourself. Then reflect on what was in the book. The second point is to do the same thing with US exports over time. Go back to at least 1940 and look at the trends. Chart it yourself and perhaps do some research on any changes that jump out at you. The third is to read Daniel Kahneman''s Thinking, Fast and Slow or at least a summary of the book. The critical piece there is system 1 vs system 2 thinking. The fourth point is to look at the long term trend on Alphabet stock from IPO to today. Then ask yourself a question: what is more important, the percentage increase from pre-IPO to IPO or the absolute dollar increase from 2004-today? Where is there more information?
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Reader KA
1.0 out of 5 starsVerified Purchase
Misleading Title
Reviewed in the United States on July 24, 2020
This is the first book I have ever read by George Gilder. I will admit that I am a novice when it comes to the subject matter of economics. However, I am in the middle of an MBA Program and can comprehend quite well so I will write a review. I decided to purchase... See more
This is the first book I have ever read by George Gilder. I will admit that I am a novice when it comes to the subject matter of economics. However, I am in the middle of an MBA Program and can comprehend quite well so I will write a review.

I decided to purchase this book because I am an entrepreneur and interested in starting a non-profit in the Raleigh-Durham area. I also purchased this book because I hoped to gain new insight and knowledge about capitalism. I was under the impression that I would learn about knowledge and information in and of itself. I did find a splattering of useful knowledge and information throughout the book.

I was expecting something greater from this book. As I read the material I noticed subject matter ranging from: freemasonry, spirituality, politics, Greek philosophers, economics. And there is nothing wrong with that subject matter, but the author does not connect it all together and show a bigger picture.

George Gilder is definitely not too fond of Barack Obama or Marxism. That came across loud and clear all throughout the book.

There are many chapters in the book that the author sounds condescending. For example, "Financial crisis are no more a product of evil machinations than are hurricanes. If you build your house with the wrong stuff in the wrong place, with the wrong algorithm, you may be hit" (Gilder, 2013). Wow! Really. How insensitive can a person really get? Many Americans lost their homes during The Great Recession. Not to mention Americans have to pray they live through a hurricane.

I do not recommend other readers buy this book. Check it out at the library, borrow it from someone, or get it dirt cheap at a flea market or yard sale.
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WilliamTell
5.0 out of 5 starsVerified Purchase
Information age economic opus.
Reviewed in the United States on February 17, 2020
A timely and stunning presentation of economic and information age forces that drive our rise and fall. Riveting coverage of examples that illustrate the principles of this magnum opus of ground economics. Must read for anyone that seeks to understand the economic,... See more
A timely and stunning presentation of economic and information age forces that drive our rise and fall. Riveting coverage of examples that illustrate the principles of this magnum opus of ground economics. Must read for anyone that seeks to understand the economic, technological and political forces that shape our world.
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Keith McCullough
5.0 out of 5 starsVerified Purchase
The antichrist of broken academic-economic-policy groupthink
Reviewed in the United States on December 10, 2013
Summary Thoughts 1. One of the few books that attempts to link non-linearity and information/chaos theory to today’s markets/economies 2. Using economic history and market practitioners, Gilder effectively crushes the perceived wisdoms of broken sources... See more
Summary Thoughts

1. One of the few books that attempts to link non-linearity and information/chaos theory to today’s markets/economies
2. Using economic history and market practitioners, Gilder effectively crushes the perceived wisdoms of broken sources
3. Juxtaposed vs government intervention, a refreshing reminder of the role of the capitalistic entrepreneur in America

Content Highlights

1. “Most human beings understand that their life is full of surprises.” (pg 1) #intro chapter – The Need for a New Economics
2. “We are almost entirely incapable of predicting the future. Yet economics purports to be strangely exempt from this fact” (pg 1)
3. “It is an economics of surprise that distributes power as it extends knowledge” (pg 5) #truth about innovation and evolution
4. “All information is surprise; only surprise qualifies as information. This is the fundamental axiom of information theory” (pg 15)
5. “From Adam Smith’s days to ours, economics has focused on the nature of economic order” (pg 16) promising #certainty?
6. “Interest rates are critical for information-theory economic analysis because they are an index of real economic conditions” (pg 24)
7. “Profits differentiate between the normally predictable yield of commodities and the unexpected returns of creativity” (pg 25)
8. #EntropyEconomics (Chapter 4) = one of the best named chapters of the last 3 yrs #study
9. “economists everywhere have counseled governments… to attend everything except what matters most: innovation” (pg 27)
10. “The most important feature of an information economy… is the overthrow, not the attainment, of equilibrium” (pg 30) #nonlinear
11. “Entropy is a measure of surprise, disorder, randomness… its opposites are predictability, order, tyranny…” (pg 34)
12. “Republicans… both Bushes through McCain… all cherish the illusion that leading economists possess vital wisdom” (pg 38) #joke
13. “Believing that a weaker Dollar is just the thing to spur a sluggish economy… they miss the devaluation of all the assets” (pg 38)
14. “George Romney capitulated to these forces” (pg 38) and being advised by Glenn Hubbard, ultimately Mitt did too #BigMiss
15. “Wealth actually springs from the expansion of information and learning” (pg 46) #capitalism #freedom #liberty

16. “Smith’s vision of the entrepreneur as a tool of the market… rather than its creator constitutes the original sin” (pg 47) #AdamSmith
17. The Light Dawns (chapter 7 concludes that Smith, Keynes, Hayek, and Samuelson have all been proven wrong) (pg 63) #true
18. “Looking for disequilibria to reconcile into equilibrium, economists suppress multifarious complexities” (pg 71) #yep
19. “Savings reflect the profitability – the upside entropy – in an economy” (pg 72) excess cash flows born out of positive info surprise
20. “The entrepreneur is the savior of the system because he capitalizes himself” (pg 77) #evolution
21. Fallacies of Entropy and Order (chapter 9) (pg 79)
22. “Most of the history of economics revolves around the issues of how order and equilibrium can be maintained” (pg 85) #Krugman
23. “None of these economists of equilibrium was comfortable with a dynamic economics” (pg 85) #Growth #Change #Surprise
24. “Order is not spontaneous, but it is a necessary condition for all the surprises of freedom and opportunity” (pg 87)
25. “Everyone thinks he knows what information is… information is change in what we know” (pg 101) great quote
26. “They had no heads. The frenzy was all they had… the urge was all they felt” –Tom Wolfe (pg 104) #behavioral econ
27. On Austin Goolsbee: “chairman of the President’s council of economic advisors exhibited as little understanding…” (pg 114)
28. “… much of the profession is empirically bankrupt because it is no longer taught economic history” –Charles Kindleberger (pg 115)
29. “The successful executive pursues not efficiency but effectiveness” –Peter Drucker (pg 126)
30. “The goal of financial reform should be to end this divorce between knowledge and power” (pg 132) secular #theme of book

31. “Unlike an inexorable, Newtonian “great machine”, the economy is not a closed system” (pg 133) don’t tell #Keynesians that
32. “High entropy regulation destroys the environment that it seeks to enhance” (pg 150) #BigGovernmentIntervention #Fed
33. “If a science has an adjective, it probably isn’t a science” –Richard Feynman (pg 159), Ivy League “economics” is no science
34. “Pursue opportunities is the counsel of the capitalist” (pg 161) #bingo
35. “It has become a virtual casino” –Bob Wilmers (CEO of M&T Bank) (pg 168)
36. “Paulson/Bernanke in constant conversation with unhealthy institutions; wouldn’t talk to leaders of healthy banks” –Allison (pg 170)
37. “In my career, the Fed has a 100% error rate in predicting and reacting to important economic turns” –John Allison (pg 175)
38. “wealth is only valuable if combined with information” (pg 178) #perspective
39. “America’s leading entrepreneurs, with some exception, display discipline and self control, hard work and austerity” (pg 183)
40. “Greed is an appetite for unneeded and unearned wealth and power” (pg 184) beauty quote about #politicians
41. “All progress comes from the creative minority” (pg 192) otherwise why would society glorify their stories?
42. “Taleb, in all likelihood, deems you a turkey” (pg 197) in Chapter 18, The Black Swans of Investment, criticizing Taleb
43. “I believe, however, that the fool of randomness is Taleb” (pg 200) #aggressive!
44. “21st century intellectuals have looked to information theory for a solution” (pg 201) maybe, sort of, but hardly consensus
45. “Great books, great ideas, and great thinkers” (pg 207) on Mark Skousen’s Freedom Fest annual conference

46. “No one in your company knows less about your business than your see eff oh” –Peter Drucker (pg 218) CEOs need vision
47. “Stockman ended up capitulating to his critics” (pg 219) appropriately critical of David Stockman’s “CFO” myopia
48. “0% interest rate policy of the Federal Reserve diverts the wealth of savers to governments, crony capitalists, etc” (pg 224)
49. “History tells us that the threat to prosperity is not debt but socialism” (pg 225) great focus pt quote
50. “Just as the post war recovery of the 1950s confounded Paul Samuelson’s gloomy predictions” (pg 234) #Keynesian failures
51. “fragmented, the academic sciences are turning to politics, panics, and cartels to preserve their old privileges” (pg 270)
52. “Most of the courses they took were either self-evident or wrong, ideological, or tautological, twisted, or trivial” (pg 270)
53. “Now an abstruse and occasionally revealing discipline has emerged called quantum information theory” (pg 271)
54. “Governed by entropy (measuring freedom of choice), it is a science of human liberty” (pg 271)
55. “Just as the bureaucrat needs arbitrary power, the capitalist needs capital” (pg 275) #excellent conclusion

This is a thought leader’s book. With so many people whining about not having a “solution” to Washington’s economic policies, ask yourself if we’re asking the right leaders for new ideas. This book is the antichrist of broken western-academic-economic-policy group-think.
KM
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John Butler
5.0 out of 5 starsVerified Purchase
This book changes the way you understand the economy and society
Reviewed in the United States on January 9, 2014
Writing in the tradition of Confucius and other philosophers who sought to understand how order could emerge out of apparent chaos, George Gilder makes a compelling case in this book that, as the global economy grows ever bigger, the central role of information becomes all... See more
Writing in the tradition of Confucius and other philosophers who sought to understand how order could emerge out of apparent chaos, George Gilder makes a compelling case in this book that, as the global economy grows ever bigger, the central role of information becomes all the more critical. Actions that distort or suppress information, such as misguided or arbitrary regulations, market (eg money, interest rate) manipulation, or punitive taxation thus have the power to do damage much farther and wider than is generally appreciated. Conversely, if information is allowed to flow free of such distortions, within a robust yet passive transmission mechanism of rule of transparent law and clear property rights, its power to stimulate vast technological leaps forward through entrepreneurial activity has never been greater. Sure, the world faces challenges ranging from excessive debts, demographics and environmental concerns, but if the flow of information is allowed to work its magic--by its very nature obscured from view--even the seemingly most intractable problems of our time will be solved through purposeful, informed human action. Intuitively, we all know that we make better decisions when better informed. George Gilder demonstrates convincingly that the complex systems of economy and society are ultimately no different, but that they must be left to inform themselves, rather than to be somehow arbitrarily planned or directed from above.
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Steve Waite
5.0 out of 5 starsVerified Purchase
High Entropy Reading
Reviewed in the United States on June 27, 2013
Leave it to George Gilder to lay the foundation for a revolution in economics and finance in the 21st century based on information theory. For far too long, economists and financial theorists have had their collective heads buried in the sands of static equilibrium, perfect... See more
Leave it to George Gilder to lay the foundation for a revolution in economics and finance in the 21st century based on information theory. For far too long, economists and financial theorists have had their collective heads buried in the sands of static equilibrium, perfect competition, and efficient markets. What use, after all, is a body of work that leaves 80 percent of real world economic activity over the past 200 years unexplained?

Using tenets of information theory, Gilder exposes the flaws and fatalities of conventional economic and financial thinking. In doing so, he brings to light the centrality of the entrepreneur in a capitalist system as the lynchpin of growth, job and wealth creation. In grand fashion, Knowledge and Power provides an innovative framework for analysis and policy that brilliantly transcends the work of economist Joseph Schumpeter and modern-day complexity theorists.

There is so much path-breaking ground covered in Gilder''s book that there is no way to do the material justice in a short review on this website. Suffice it say that in this reviewer''s humble opinion, Knowledge and Power should be read, discussed and debated within the halls of academe, inside corporate boardrooms, and by policymakers at all levels of government worldwide. You may not agree with everything the author says in his book, but it would be a grave error to dismiss what Gilder is attempting to accomplish. That is, using information theory to help explain and illuminate the recipe of a healthy and vibrant economic system and the problems inherent in static, demand-driven socialist and communist systems.

In summary, Gilder''s book is a sorely needed and timely antidote to all that ails conventional economic and financial thinking. Read it, research it, discuss and debate it. But by all means, do not ignore it. Knowledge and Power is high entropy reading.
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Amazon Customer
4.0 out of 5 starsVerified Purchase
suggestive but falls short of expectations
Reviewed in the United States on October 20, 2013
The old paradigm of economic growth can be summed up as the combination of population (labour) growth and labour productivity growth. Invention, innovation, organizational change, and regulation, were all embodied in the productivity component in this old model. This... See more
The old paradigm of economic growth can be summed up as the combination of population (labour) growth and labour productivity growth. Invention, innovation, organizational change, and regulation, were all embodied in the productivity component in this old model. This component was exogenous to the model, and does not provide an endogenous explanation of growth.
I was hoping that the incorporation of information theory within the growth model would start to address this shortcoming of exogenous productivity. Shannon had a metric for measuring the information content within a communication. One can think of a trend line for a statistical series as an attempt to separate the signal (information) from the noise in a statistical series. I thought Gilder might extend these ideas. The book did not take this tack.
The statement in the book, that production was really a rearrangement of more basic material elements within the world, rather the creation of something new, is suggestive. The imagery that production is the first layer in a multi-layer process, and that invention, innovation, and creative thought, are in a higher level, starts to provide an insight as to how these creative processes might work; namely focusing on the production level and consciously thinking of new ways to provide the same product, or rearrange the material elements of an existing product, to serve a new purpose. The development of this line of thinking might facilitate more innovation.
The demographic trends in developed countries will not support higher standards of living without substantive productivity gains.
Current trends in productivity growth are unlikely to offset the foreseen demographic decline in labour supply.
We need more effective methods of fostering productivity to counter the above scenario.
I was hoping that Gilder would provide some insights into such developments. He did not. Hence the shortfall in expectations.
But the book was still worth reading even if it did not deliver all I was seeking.
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Top reviews from other countries

Marcio Atz
5.0 out of 5 starsVerified Purchase
Excelent perspective, necessary reading in our current dinamic world!
Reviewed in the United Kingdom on March 4, 2014
The author explores an intelligent perspective of present reality, combines enlightening facts from history with ever so updated views of our information age. One of those books that makes a great difference in your education and understanding of relevant facts, a true gift...See more
The author explores an intelligent perspective of present reality, combines enlightening facts from history with ever so updated views of our information age. One of those books that makes a great difference in your education and understanding of relevant facts, a true gift to contemporary human knowledge.
The author explores an intelligent perspective of present reality, combines enlightening facts from history with ever so updated views of our information age. One of those books that makes a great difference in your education and understanding of relevant facts, a true gift to contemporary human knowledge.
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W H Goodwin
4.0 out of 5 starsVerified Purchase
COMMAND & CONTROL GOVERNMENTS ARE IRREVELANT IN AN AGE OF READILY ACCESSIBLE INFORMATION.
Reviewed in Canada on March 17, 2014
I don''t feel qualified to be able to criticize Mr. Gilder or this book. I was impressed during the Reagan years with "Wealth & Poverty", which ushered in the ''Supply-side economic revolution", but I wonder if "Entropy Law II" will ever be ''catchy''? The...See more
I don''t feel qualified to be able to criticize Mr. Gilder or this book. I was impressed during the Reagan years with "Wealth & Poverty", which ushered in the ''Supply-side economic revolution", but I wonder if "Entropy Law II" will ever be ''catchy''? The 2nd Law of Thermohydro Dynamics (Entropy) states that: Energy of all kinds will disperse out if it is not hindered from doing so. Also,Entropy Change measures the dispersal of energy, i.e., how much energy is spread out in a particular process, or how widely spread out it becomes at a specific temperature. Mr. Gilder seems to apply Entropy law to the dissemination of information throughout the universe. The freer the medium, the more rapid the dissemination of all information. The more rapid the dispersion of information to individuals, the more creative they become with it. Things or processes get innovated, invented or built. Entrepreneurs can more readily; employ & co-ordinate the other three factors of production (Land, Labor & Capital) into projects and enterprises of production, or services; expanding economies; wealth and prosperity, etc.,thus raising living standards, and employing more people. Regrettably,on the down side, Mr. Gilder seems to have a penchant for verbosity, which I find to be quite annoying, especially when I don''t know what he is talking about! Moreover, his expression of important parts of his thesis are fuzzy. Finally, I think that we have all known, that information is fundamental to the 4th agent of production, i.e., Entrepreneurship. Based upon the premise that Entrepreneurial activity is essential to the growth of economies and the prosperity of their peoples, Mr. Gilder uses Entropy Law to demonstrate that a stifling slow entropy (the medium of information dissemination) will frustrate, diminish or arrest, entrepreneurial activity( i.e.,fast entropy) to the detriment of everyone in that society. Entropy and economics are both natural sciences, and observations in the one can be applied to the other. I have probably not done Mr. Gilder justice with my understanding of what he has done in this book. It seems now, that what he was trying to prove, is that entropy and entrepreneurship are "Natural Laws", which should be observed and adhered to religiously. That would mean a ''sea change'' for all tyrannies, and most western democracies. If you are a ''control freak'', this book could really make you Mad!
I don''t feel qualified to be able to criticize Mr. Gilder or this book. I was impressed during the Reagan years with "Wealth & Poverty", which ushered in the ''Supply-side economic revolution", but I wonder if "Entropy Law II" will ever be ''catchy''? The 2nd Law of Thermohydro Dynamics (Entropy) states that: Energy of all kinds will disperse out if it is not hindered from doing so. Also,Entropy Change measures the dispersal of energy, i.e., how much energy is spread out in a particular process, or how widely spread out it becomes at a specific temperature.
Mr. Gilder seems to apply Entropy law to the dissemination of information throughout the universe. The freer the medium, the more rapid the dissemination of all information. The more rapid the dispersion of information to individuals, the more creative they become with it. Things or processes get innovated, invented or built. Entrepreneurs can more readily; employ & co-ordinate the other three factors of production (Land, Labor & Capital) into projects and enterprises of production, or services; expanding economies; wealth and prosperity, etc.,thus raising living standards, and employing more people.
Regrettably,on the down side, Mr. Gilder seems to have a penchant for verbosity, which I find to be quite annoying, especially when I don''t know what he is talking about! Moreover, his expression of important parts of his thesis are fuzzy.
Finally, I think that we have all known, that information is fundamental to the 4th agent of production, i.e., Entrepreneurship.
Based upon the premise that Entrepreneurial activity is essential to the growth of economies and the prosperity of their peoples, Mr. Gilder uses Entropy Law to demonstrate that a stifling slow entropy (the medium of information dissemination) will frustrate, diminish or arrest, entrepreneurial activity( i.e.,fast entropy) to the detriment of everyone in that society.
Entropy and economics are both natural sciences, and observations in the one can be applied to the other.
I have probably not done Mr. Gilder justice with my understanding of what he has done in this book. It seems now, that what he was trying to prove, is that entropy and entrepreneurship are "Natural Laws", which should be observed and adhered to religiously. That would mean a ''sea change'' for all tyrannies, and most western democracies.
If you are a ''control freak'', this book could really make you Mad!
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Jörn Dinkla
5.0 out of 5 starsVerified Purchase
Überraschung mit hohem Informationsgehalt
Reviewed in Germany on August 17, 2015
Auf der einen Seite hält das Buch nicht 100% was der Titel verspricht, auf der anderen Seite ist es aber ein sehr anregendes Buch, das sehr viele wirtschaftliche, naturwissenschaftliche und informationstechnische Themen behandelt. Der Autor hat ein sehr breites Wissen,...See more
Auf der einen Seite hält das Buch nicht 100% was der Titel verspricht, auf der anderen Seite ist es aber ein sehr anregendes Buch, das sehr viele wirtschaftliche, naturwissenschaftliche und informationstechnische Themen behandelt. Der Autor hat ein sehr breites Wissen, seine Schwerpunkte sind Wirtschaft, Finanzmärkte, Venture-Kapital, Startup-Förderung und IT. Nach George Gilder liegt die Stärke des Kapitalismus darin, das nur die erfolgreichen Unternehmen, die Gewinne machen, die Möglichkeit erhalten, weitere Produkte herzustellen. Sie haben ja ihre Nützlichkeit bewiesen, ihre Produkte wurden gekauft. Zur Produktion von Waren und bei der Durchführung von Dienstleistungen ist sehr viel Wissen erforderlich. Ein Unternehmen ist eine Art Experiment, wie und zu welchem Preis waren produziert werden können, die dann von der “demand”-Seite auch nachgefragt werden. Ein Unternehmen muss das Wissen erst erlernen. Der Gewinn, der aus erfolgreichem Wirtschaften entsteht, gibt dem Unternehmen dann die “Power” weiterzumachen. In der heutigen Welt wird die “Power” allerdings durch Eingriffe des Staats beeinträchtigt. Laut Gilder wird damit “Noise” in das System eingeführt und stark geschädigt. Er macht das z. B. besonders beim Insider-Handel mit Aktien deutlich, der verboten wurde. Der Handel mit Aktien sollte eigentlich auf den Informationen beruhen, die man über eine Firma hat und nicht auf Spekulationen. Je weniger Informationen es aber über die Firmen gibt, desto mehr wird das System zum “Kasino-Kapitalismus”. Denn der Aktienkauf beruht nicht mehr auf Fachinformationen, sondern auf dem Zufall. Das ist ein Beispiel dafür, dass eine gut gemeinte Regulierung negative Begleiterscheinungen hat und von “Linken" dann “dem Kapitalismus” als negative Systemeigenschaft vorgeworfen wird. Der Autor benutzt als Analogie die Idee, dass Information eine Überraschung, eine Abweichung vom Regulären ist. Erfolgreiche Firmen bringen Ideen mit einem hohen Überraschungspotential auf den Markt. Also die Information ist für den Markt an sich hoch, nicht das Produkt an sich. Ein Buch mit einem einfachen Satzbau und wenig Wörtern hat einen geringeren Informationsgehalt als ein Buch mit einem großen Wortschatz. Aber den Markt interessiert hier der Gewinn und wie viele Folgeprodukte man evtl. noch verkaufen kann usw. Und diese marktrelevante Information ist es, die höher ist. Diese informationstheoretische Begründung ist aber nur informell. Das ist keine mathematische Argumentation und im strengen Sinn auch keine “The Information Theory of Capitalism”, wie es z. B. mathematisch vorgebildete Wirtschaftswissenschaftler erwarten würden. An manchen Stellen ist die Argumentation auch rein informationstechnisch nicht 100% sauber. Aber ich musste im Laufe des Buches feststellen, dass der Autor über sehr weitreichende Kenntnisse verfügt. Manchmal schlägt er da allerdings Schlachten, die nicht richtig zum Thema gehören, sondern eher in die amerikanische Politik. Andererseits ist alles interessant geschrieben und mich persönlich interessieren Querdenker sehr. Auch wenn ich nicht mit allen Punkten des Autors übereinstimme und es ein paar Mängel gibt, ist das Buch ein Leseerlebnis und ich konnte es nur schwer aus der Hand legen.
Auf der einen Seite hält das Buch nicht 100% was der Titel verspricht, auf der anderen Seite ist es aber ein sehr anregendes Buch, das sehr viele wirtschaftliche, naturwissenschaftliche und informationstechnische Themen behandelt. Der Autor hat ein sehr breites Wissen, seine Schwerpunkte sind Wirtschaft, Finanzmärkte, Venture-Kapital, Startup-Förderung und IT.

Nach George Gilder liegt die Stärke des Kapitalismus darin, das nur die erfolgreichen Unternehmen, die Gewinne machen, die Möglichkeit erhalten, weitere Produkte herzustellen. Sie haben ja ihre Nützlichkeit bewiesen, ihre Produkte wurden gekauft. Zur Produktion von Waren und bei der Durchführung von Dienstleistungen ist sehr viel Wissen erforderlich. Ein Unternehmen ist eine Art Experiment, wie und zu welchem Preis waren produziert werden können, die dann von der “demand”-Seite auch nachgefragt werden. Ein Unternehmen muss das Wissen erst erlernen. Der Gewinn, der aus erfolgreichem Wirtschaften entsteht, gibt dem Unternehmen dann die “Power” weiterzumachen. In der heutigen Welt wird die “Power” allerdings durch Eingriffe des Staats beeinträchtigt. Laut Gilder wird damit “Noise” in das System eingeführt und stark geschädigt. Er macht das z. B. besonders beim Insider-Handel mit Aktien deutlich, der verboten wurde. Der Handel mit Aktien sollte eigentlich auf den Informationen beruhen, die man über eine Firma hat und nicht auf Spekulationen. Je weniger Informationen es aber über die Firmen gibt, desto mehr wird das System zum “Kasino-Kapitalismus”. Denn der Aktienkauf beruht nicht mehr auf Fachinformationen, sondern auf dem Zufall. Das ist ein Beispiel dafür, dass eine gut gemeinte Regulierung negative Begleiterscheinungen hat und von “Linken" dann “dem Kapitalismus” als negative Systemeigenschaft vorgeworfen wird.

Der Autor benutzt als Analogie die Idee, dass Information eine Überraschung, eine Abweichung vom Regulären ist. Erfolgreiche Firmen bringen Ideen mit einem hohen Überraschungspotential auf den Markt. Also die Information ist für den Markt an sich hoch, nicht das Produkt an sich. Ein Buch mit einem einfachen Satzbau und wenig Wörtern hat einen geringeren Informationsgehalt als ein Buch mit einem großen Wortschatz. Aber den Markt interessiert hier der Gewinn und wie viele Folgeprodukte man evtl. noch verkaufen kann usw. Und diese marktrelevante Information ist es, die höher ist.

Diese informationstheoretische Begründung ist aber nur informell. Das ist keine mathematische Argumentation und im strengen Sinn auch keine “The Information Theory of Capitalism”, wie es z. B. mathematisch vorgebildete Wirtschaftswissenschaftler erwarten würden. An manchen Stellen ist die Argumentation auch rein informationstechnisch nicht 100% sauber. Aber ich musste im Laufe des Buches feststellen, dass der Autor über sehr weitreichende Kenntnisse verfügt. Manchmal schlägt er da allerdings Schlachten, die nicht richtig zum Thema gehören, sondern eher in die amerikanische Politik. Andererseits ist alles interessant geschrieben und mich persönlich interessieren Querdenker sehr.

Auch wenn ich nicht mit allen Punkten des Autors übereinstimme und es ein paar Mängel gibt, ist das Buch ein Leseerlebnis und ich konnte es nur schwer aus der Hand legen.
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