Origin of Wealth:
Evolution, Complexity, and the Radical Remaking of
Economics
by Eric D. Beinhocker
In the "Origin of Wealth", Eric Beinhocker
offers a thorough and convincing new way to think about economic growth and
business management. The author begins by exploring the roots of modern economic
theory and ultimately declares it outmoded and wrong. Instead, he suggests,
markets and growth can best be explained by drawing on the emerging field of
complexity economics: the study of markets and social systems as complex
adaptive systems.Although biological metaphors in business have become familiar
(i.e., organizations are living organisms), Beinhocker moves beyond metaphor to
explain the revolutions in science that will inevitably change the way we think
about economics, competition, and business. "The Origin of Wealth"
raises important questions such as: How can one create strategy in uncertain
and fast moving environments? Why is it hard for large organizations to be
innovative and how should we organize for better results? And what role should
governments play in this new era?
