We’re here to put a dent in the universe. Otherwise why else even be here?
George Gilder, Knowledge and Power
Tyler Cowen, Average is Over: Powering America Beyond the Age of the Great Stagnation
In 1981, George Gilder published Wealth and Poverty, the book that developed the idea of supply-side economics that dominated economics during the Reagan-Thatcher years. You can tell that he’s been living off this fame for the past 30 years: Knowledge and Power is not a very well-crafted book, and reads more like a series of book reviews than an extended essay. Despite being indisciplined, however, it does contain a compelling thesis: that standard accounts of capitalism fail to adequately appreciate the importance of individual creativity and entrepreneurship.
From Adam Smith and his invisible hand of the market to the present day, economists have modelled the economy on the assumption that it is, at root, a random, mindless process that nevertheless ... Read More