Why Information Grows: The Evolution of Order, from Atoms to Economies

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Allen Lane, 2015 - Economic development - 232 pages
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 MIT professor CÚsar Hidalgo argues that in order to fully grasp the nature of economic growth we need to transcend the social sciences and turn to the science of information, networks and complexity. The growth of economies, he explains, is deeply connected with the growth of order - or information. At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order will disappear. But thermodynamics also has loopholes that promote the growth of information in pockets. Our cities are such pockets where information grows, but they are not all the same. For every Silicon Valley, Tokyo, and London, there are dozens of places with underdeveloped economies. 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, companies, and the networks they form process information - it is all about their knowledge, knowhow and imagination. As Hidalgo compellingly shows, economies are made of networks of people and society is a collective computer. The problem of economic development is in fact the problem of making these networks more powerful. A radical new interpretation of global economics,Why Information Grows overturns traditional assumptions about the development of economies and the origins of wealth and takes a crucial step toward making economics less the dismal science and more the insightful one.

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LibraryThing Review

User Review  - mavaddat - LibraryThing

The first few chapters are a terrific exposition on the natural (that is, not anthropogenic) origins of information using the models of Boltzmann, Shannon, and another guy whose name escapes me. I had to stop reading at around page 83 because I lost interest at the same time that I lost the book. Read full review

WHY INFORMATION GROWS: The Evolution of Order, from Atoms to Economies

User Review  - Kirkus

An interdisciplinary theorist, Hidalgo, the Macro Connections group leader at the MIT Media Lab, invites us to understand the economy in an entirely different way. In the wake of the 2008 recession ... Read full review

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