The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics
A complexity economics manifesto that treats the economy as an evolving system
"Wealth is the result of evolutionary processes, and economic systems are evolutionary systems."
— Eric D. Beinhocker
My Review
Beinhocker bridges evolutionary biology and economics explicitly. His framework for understanding markets as complex adaptive systems provides theoretical grounding for treating business strategy as an evolutionary problem. Essential foundational reading.
Why It Matters
Beinhocker bridges evolutionary biology and economics explicitly. His framework for understanding markets as complex adaptive systems provides theoretical grounding for treating business strategy as an evolutionary problem.
Key Ideas
- Wealth creation is an evolutionary process of differentiate-select-amplify
- Markets are complex adaptive systems, not equilibrium machines
- Business strategies are 'fit' or 'unfit' to their environments, like organisms
- Innovation is the primary driver of long-term wealth creation
How It Connects to This Framework
The entire Biology of Business framework shares Beinhocker's vision of applying evolutionary thinking to economics. Book 1's ecosystem thinking and Book 6's evolutionary dynamics are particularly aligned.
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The full Biology of Business book explores these concepts in depth with practical frameworks.