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... 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.
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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