Why Information Grows

"Hidalgo has made a bold attempt to synthesize a large body of cutting-edge work into a readable, slender volume. This is the future of growth theory." -- Financial Times 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 according to MIT's antidisciplinarian Cér Hidalgo, understanding the nature of economic growth demands transcending the social sciences and including the natural sciences of information, networks, and complexity. To understand the growth of economies, Hidalgo argues, we first need to understand the growth of order. At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order-or information-disappears. Whispers vanish in the wind just like the beauty of swirling cigarette smoke collapses into disorderly clouds. But thermodynamics also has loopholes that promote the growth of information in pockets. Although cities are all pockets where information grows, they are not all the same. For every Silicon Valley, Tokyo, and Paris, there are dozens of places with economies that accomplish little more than pulling rocks out of the ground. So, 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, firms, and the networks they form make use of information. Seen from Hidalgo's vantage, economies become distributed computers, made of networks of people, and the problem of economic development becomes the problem of making these computers more powerful. By uncovering the mechanisms that enable the growth of information in nature and society, Why Information Grows lays bear the origins of physical order and economic growth. Situated at the nexus of information theory, physics, sociology, and economics, this book propounds a new theory of how economies can do not just more things, but more interesting things.

In Why Information Grows, rising star César Hidalgo offers a radical interpretation of global economics While economists often turn to measures like GDP or per-capita income, César Hidalgo turns to information theory to explain the success or failure of a country's economic performance. Through a radical rethinking of what the economy is, Hidalgo shows that natural constraints in our ability to accumulate knowledge, knowhow and information explain the evolution of social and economic complexity. This is a rare tour de force, linking economics, sociology, physics, biology and information theory, to explain the evolution of social and economic systems as a consequence of the physical embodiment of information in a world where knowledge is quite literally power. César Hidalgo leads the Macro Connections group at the MIT Media Lab. A trained statistical physicist and an expert on Networks and Complex Systems, he also has extensive experience in the field of economic development and has pioneered research on how big data impacts economic decision-making.

How people judge humans and machines differently, in scenarios involving natural disasters, labor displacement, policing, privacy, algorithmic bias, and more. How would you feel about losing your job to a machine? How about a tsunami alert system that fails? Would you react differently to acts of discrimination depending on whether they were carried out by a machine or by a human? What about public surveillance? How Humans Judge Machines compares people's reactions to actions performed by humans and machines. Using data collected in dozens of experiments, this book reveals the biases that permeate human-machine interactions. Are there conditions in which we judge machines unfairly? Is our judgment of machines affected by the moral dimensions of a scenario? Is our judgment of machine correlated with demographic factors such as education or gender? César Hidalgo and colleagues use hard science to take on these pressing technological questions. Using randomized experiments, they create revealing counterfactuals and build statistical models to explain how people judge artificial intelligence and whether they do it fairly. Through original research, How Humans Judge Machines bring us one step closer tounderstanding the ethical consequences of AI.

Straight answers to every question you've ever had about how the economy works and how it affects your life In this Collector's Edition of their celebrated How an Economy Grows and Why It Crashes, Peter Schiff, economic expert and bestselling author of Crash Proof and The Real Crash, once again teams up with his brother Andrew to spin a lively economic fable that untangles many of the fallacies preventing people from really understanding what drives an economy. The 2010 original has been described as a “Flintstones” take economics that entertainingly explains the beauty of free markets. The new edition has been greatly expanded in both quantity and quality. A new introduction and two new illustrated chapters bring the story up to date, and most importantly, the book makes the jump from black and white to full and vivid color. With the help of colorful cartoon illustrations, lively humor, and deceptively simple storytelling, the Schiff's bring the complex subjects of inflation, monetary policy, recession, and other important topics in economics down to Earth. The story starts with three guys on an island who barely survive by fishing barehanded. Then one enterprising islander invents a net, catches more fish, and changes the island’s economy fundamentally. Using this story the Schiffs apply their signature take-no-prisoners logic to expose the glaring fallacies and gaping holes permeating the global economic conversation. The Collector’s Edition: Provides straight answers about how economies work, without relying on nonsensical jargon and mind-numbing doublespeak the experts use to cover up their confusion Includes a new introduction that sets the stage for developing a deeper, more practical understanding of inflation and the abuses of the monetary system Adds two new chapters that dissect the Federal Reserve’s Quantitative easing policies and the European Debt Crisis. Colorizes the original book's hundreds of cartoon illustrations. The improved images, executed by artist Brendan Leach from the original book, add new vigor to the presentation Has a larger format that has been designed to fit most coffee tables. While the story may appear simple on the surface, as told by the Schiff brothers, it will leave you with a deep understanding of How an Economy Grows and Why It Crashes.

A brilliant and visionary argument for America's role as an enforcer of peace and order throughout the world--and what is likely to happen if we withdraw and focus our attention inward. Recent years have brought deeply disturbing developments around the globe. American sentiment seems to be leaning increasingly toward withdrawal in the face of such disarray. In this powerful, urgent essay, Robert Kagan elucidates the reasons why American withdrawal would be the worst possible response, based as it is on a fundamental and dangerous misreading of the world. Like a jungle that keeps growing back after being cut down, the world has always been full of dangerous actors who, left unchecked, possess the desire and ability to make things worse. Kagan makes clear how the "realist" impulse to recognize our limitations and focus on our failures misunderstands the essential role America has played for decades in keeping the world's worst instability in check. A true realism, he argues, is based on the understanding that the historical norm has always been toward chaos--that the jungle will grow back, if we let it.

Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.

An argument that the development of scientific practice and growth of scientific knowledge are governed by Darwin’s evolutionary model of descent with modification. Although scientific investigation is influenced by our cognitive and moral failings as well as all of the factors impinging on human life, the historical development of scientific knowledge has trended toward an increasingly accurate picture of an increasing number of phenomena. Taking a fresh look at Thomas Kuhn’s 1962 work, The Structure of Scientific Revolutions, in How Knowledge Grows Chris Haufe uses evolutionary theory to explain both why scientific practice develops the way it does and how scientific knowledge expands. This evolutionary model, claims Haufe, helps to explain what is epistemically special about scientific knowledge: its tendency to grow in both depth and breadth. Kuhn showed how intellectual communities achieve consensus in part by discriminating against ideas that differ from their own and isolating themselves intellectually from other fields of inquiry and broader social concerns. These same characteristics, says Haufe, determine a biological population’s degree of susceptibility to modification by natural selection. He argues that scientific knowledge grows, even across generations of variable groups of scientists, precisely because its development is governed by Darwinian evolution. Indeed, he supports the claim that this susceptibility to modification through natural selection helps to explain the epistemic power of certain branches of modern science. In updating and expanding the evolutionary approach to scientific knowledge, Haufe provides a model for thinking about science that acknowledges the historical contingency of scientific thought while showing why we nevertheless should trust the results of scientific research when it is the product of certain kinds of scientific communities.

In 1996, the Institute of Medicine (IOM) released its report Telemedicine: A Guide to Assessing Telecommunications for Health Care. In that report, the IOM Committee on Evaluating Clinical Applications of Telemedicine found telemedicine is similar in most respects to other technologies for which better evidence of effectiveness is also being demanded. Telemedicine, however, has some special characteristics-shared with information technologies generally-that warrant particular notice from evaluators and decision makers. Since that time, attention to telehealth has continued to grow in both the public and private sectors. Peer-reviewed journals and professional societies are devoted to telehealth, the federal government provides grant funding to promote the use of telehealth, and the private technology industry continues to develop new applications for telehealth. However, barriers remain to the use of telehealth modalities, including issues related to reimbursement, licensure, workforce, and costs. Also, some areas of telehealth have developed a stronger evidence base than others. The Health Resources and Service Administration (HRSA) sponsored the IOM in holding a workshop in Washington, DC, on August 8-9 2012, to examine how the use of telehealth technology can fit into the U.S. health care system. HRSA asked the IOM to focus on the potential for telehealth to serve geographically isolated individuals and extend the reach of scarce resources while also emphasizing the quality and value in the delivery of health care services. This workshop summary discusses the evolution of telehealth since 1996, including the increasing role of the private sector, policies that have promoted or delayed the use of telehealth, and consumer acceptance of telehealth. The Role of Telehealth in an Evolving Health Care Environment: Workshop Summary discusses the current evidence base for telehealth, including available data and gaps in data; discuss how technological developments, including mobile telehealth, electronic intensive care units, remote monitoring, social networking, and wearable devices, in conjunction with the push for electronic health records, is changing the delivery of health care in rural and urban environments. This report also summarizes actions that the U.S. Department of Health and Human Services (HHS) can undertake to further the use of telehealth to improve health care outcomes while controlling costs in the current health care environment.

This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products.

The brain ... There is no other part of the human anatomy that is so intriguing. How does it develop and function and why does it sometimes, tragically, degenerate? The answers are complex. In Discovering the Brain, science writer Sandra Ackerman cuts through the complexity to bring this vital topic to the public. The 1990s were declared the "Decade of the Brain" by former President Bush, and the neuroscience community responded with a host of new investigations and conferences. Discovering the Brain is based on the Institute of Medicine conference, Decade of the Brain: Frontiers in Neuroscience and Brain Research. Discovering the Brain is a "field guide" to the brainâ€"an easy-to-read discussion of the brain's physical structure and where functions such as language and music appreciation lie. Ackerman examines: How electrical and chemical signals are conveyed in the brain. The mechanisms by which we see, hear, think, and pay attentionâ€"and how a "gut feeling" actually originates in the brain. Learning and memory retention, including parallels to computer memory and what they might tell us about our own mental capacity. Development of the brain throughout the life span, with a look at the aging brain. Ackerman provides an enlightening chapter on the connection between the brain's physical condition and various mental disorders and notes what progress can realistically be made toward the prevention and treatment of stroke and other ailments. Finally, she explores the potential for major advances during the "Decade of the Brain," with a look at medical imaging techniquesâ€"what various technologies can and cannot tell usâ€"and how the public and private sectors can contribute to continued advances in neuroscience. This highly readable volume will provide the public and policymakersâ€"and many scientists as wellâ€"with a helpful guide to understanding the many discoveries that are sure to be announced throughout the "Decade of the Brain."

#1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.

Find out where great ideas come from in this “delightful account of how inventors do what they do” (Kirkus Reviews, starred review). A father cleans up after his toddler and imagines a cup that won’t spill. An engineer watches people using walkie-talkies and has an idea. A doctor figures out how to deliver patients to the operating room before they die. By studying inventions like these—the sippy cup, the cell phone, and an ingenious hospital bed —we can learn how people imagine their way around “impossible” problems to discover groundbreaking answers. Pagan Kennedy reports on how these enduring methods can be adapted to the twenty-first century, as millions of us deploy tools like crowdfunding, big data, and 3-D printing to find hidden opportunities. Inventology uses the stories of inventors and surprising research to reveal the steps that produce innovation. Recent advances in technology and communication have placed us at the cusp of a golden age; it’s now more possible than ever before to transform ideas into actuality. Inventology is a must-read for designers, artists, makers—and anyone else who is curious about creativity. By identifying the steps of the invention process, Kennedy reveals the imaginative tools required to solve our most challenging problems. “There’s ample interest here even for readers who aren’t actively inventing anything.” —The Boston Globe

Companies can both serve society and create profit. This book shows how-based on rigorous evidence and an actionable framework.

We know that our world is undergoing seismic change—but how can we emerge from the crisis a fairer, more equal society? Over the past two centuries or so, capitalism has undergone profound changes—economic cycles that veer from boom to bust—from which it has always emerged transformed and strengthened. Surveying this turbulent history, Paul Mason’s Postcapitalism argues that we are on the brink of a change so big and so profound that this time capitalism itself, the immensely complex system within which entire societies function, will mutate into something wholly new. At the heart of this change is information technology, a revolution that is driven by capitalism but, with its tendency to push the value of much of what we make toward zero, has the potential to destroy an economy based on markets, wages, and private ownership. Almost unnoticed, in the niches and hollows of the market system, swaths of economic life are beginning to move to a different rhythm. Vast numbers of people are changing how they behave and live, in ways contrary to the current system of state-backed corporate capitalism. And as the terrain changes, new paths open. In this bold and prophetic book, Mason shows how, from the ashes of the crisis, we have the chance to create a more socially just and sustainable economy. Although the dangers ahead are profound, he argues that there is cause for hope. This is the first time in human history in which, equipped with an understanding of what is happening around us, we can predict and shape the future.

For fans of Old Yeller and Shiloh, Where the Red Fern Grows is a beloved classic that captures the powerful bond between man and man’s best friend. This special edition includes new material, including a note to readers from Newbery Medal winner and Printz Honor winner Clare Vanderpool, a letter from Wilson Rawls to aspiring writers, original jacket artwork, and more. Billy has long dreamt of owning not one, but two dogs. So when he’s finally able to save up enough money for two pups to call his own—Old Dan and Little Ann—he’s ecstatic. It’s true that times are tough, but together they’ll roam the hills of the Ozarks. Soon Billy and his hounds become the finest hunting team in the valley. Stories of their great achievements spread throughout the region, and the combination of Old Dan’s brawn, Little Ann’s brains, and Billy’s sheer will seems unbeatable. But tragedy awaits these determined hunters—now friends—and Billy learns that hope can grow out of despair. Praise for Where the Red Fern Grows A Top 100 Children’s Novel, School Library Journal A Must-Read for Kids 9 to 14, NPR A Great American Read's Selection (PBS) Winner of Multiple State Awards Over 14 million copies in print! “A rewarding book . . . [with] careful, precise observation, all of it rightly phrased....Very touching.” —The New York Times Book Review “One of the great classics of children’s literature . . . Any child who doesn’t get to read this beloved and powerfully emotional book has missed out on an important piece of childhood for the last 40-plus years.” —Common Sense Media “An exciting tale of love and adventure you’ll never forget.” —School Library Journal “A book of unadorned naturalness.” —Kirkus Reviews “Written with so much feeling and sentiment that adults as well as children are drawn [in] with a passion.” —Arizona Daily Star “It’s a story about a young boy and his two hunting dogs and . . . I can’t even go on without getting a little misty.” —The Huffington Post “We tear up just thinking about it.” —Time on the film adaptation

How we raise young children is one of today's most highly personalized and sharply politicized issues, in part because each of us can claim some level of "expertise." The debate has intensified as discoveries about our development-in the womb and in the first months and years-have reached the popular media. How can we use our burgeoning knowledge to assure the well-being of all young children, for their own sake as well as for the sake of our nation? Drawing from new findings, this book presents important conclusions about nature-versus-nurture, the impact of being born into a working family, the effect of politics on programs for children, the costs and benefits of intervention, and other issues. The committee issues a series of challenges to decision makers regarding the quality of child care, issues of racial and ethnic diversity, the integration of children's cognitive and emotional development, and more. Authoritative yet accessible, From Neurons to Neighborhoods presents the evidence about "brain wiring" and how kids learn to speak, think, and regulate their behavior. It examines the effect of the climate-family, child care, community-within which the child grows.

In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.

A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States