Capitalism is an Information and Learning System
Posted
November 15, 2018
Views
1,513
Likes
25
Comments
3
Engagement
1.85%
November 15, 2018
1,513
25
3
1.85%
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1:10:14Now PlayingMany free market advocates view capitalism as a system as dominated by incentives, with economic agents treated as inhabitants of a Skinner box driven by rewards and punishments. But, in fact, capitalism is an information and learning system governed by information as entrepreneurial surprise. Wealth is knowledge; growth is learning; money is real and reflects the abiding scarcity of time. The source of all progress is human creativity, which always comes as a surprise to us, joining information and enterprise.
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