In this lecture, George Gilder reviews pivotal ideas on the evolving model of economics, and its unequivocal association to freedom.
Gilder begins by refuting Milton Friedman's theory of constancy of money turnover, stating that people, not governments, are in control of money supply. Through historical examples, he champions the efficiency of free zones in China as an alternate means of liberating economies.
He then addresses two economic models in conflict. On one hand, economy can be defined as an incentive system, ruled by reward and punishment dynamics according to productivity. On the other, the ideal of the heroic, risky entrepreneur represents a model of economy driven by human creativity. Gilder provides a brilliant resolution to this conflict, based on his discerning analysis of technology and its basis on Information Theory. Economy, he says, is a logical system that is necessarily dependent on axioms outside itself - namely, new, surprising ideas from the creative entrepreneur. He sets freedom at the center of economic activity, as a measure of information exchange, and also a criterion of creativity.
Our technological achievements today, Gilder agrees, are entirely due to the growth of knowledge. The inevitable conclusion, then, is that wealth is knowledge, and therefore, growth is learning. In an insightful preamble to his upcoming book, he shares his thoughts on Bitcoin and its advances in information theory, leading to the enticing deduction that: if wealth is knowledge, and growth is learning, then, money is time.
George Gilder es inversionista, escritor y economista; cofundador de Discovery Institute,…
Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.
Universidad Francisco Marroquín