Summary

Just when our economy desperately needs a new direction, 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.
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 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, 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.
©2013 George Gilder (P)2013 Blackstone Audio
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Customer Reviews

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5 out of 5 stars
By Chrie N Valadez on 27-10-17

Incredible theory of capitalism...

... And explanation of human progress. a great unifying theory of the centerpiece of information in progress and in the success of capitalism in bringing that progress.

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5 out of 5 stars
By Will on 22-07-13

Human Creativety creates Economic Growth

Economists usually talk in terms of supply & demand, return on investment, productivity, efficiency and so on; a rather materialistic approach. Humans are usually treated like machines, i.e. human capital or human resources.

In "Knowledge and Power", George Gilder takes a different tack to economic growth. According to Gilder, economic growth is a first order function of human Creativity. The Creator is the Entrepreneur. The Entrepreneur knows his field and has rapid access to the information he requires. Therefore, he has the Knowledge required to realize his idea. However, he also must have Power over his project so he'll be willing to take the risk and start a new business. If we give him the Power, he'll create jobs and grow the economy.

What an enlightening and simple concept. Give the Entrepreneur the Power to control his life and his project and he'll be off taking all kinds of risk to realize his dream. That means Power needs to be distributed to where the Knowledge is. If Power is centralized, bad decisions are made due to insufficient Knowledge and lack of skin in the game.

Geoge does not engage in a Zero Sum Game like Marxist economists. He does not endorse the Keynesian theory of Growth though stimulus, which is just another Zero Sum Game. He goes beyond Supply Side Economics. He puts human creativity front and center. When creativity lies dormant, there is stagnation.

Knowledge and Power is well researched. Gilder reviews many other books on the subject.

Growth = f(Entrepreneur + Knowledge + Information + Power)

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1 of 2 people found this review helpful

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