César Hidalgo: Why information grows: The evolution of order, from atoms to economies
Why Information Grows is as much a grand vision as a book that lays siege to many of the fundamental questions facing the study of our world: How are complex entities able to emerge? How are they able to adapt to change in a far-from-equilibrium world? These are all questions that the Austrian tradition has treated of in economics and these are the questions that the author, César Hidalgo, tackles in this book. Hidalgo’s work is rife with many of the main themes that characterized Austrian economics as a unique way of thinking, from a non-equilibrium outlook to an emphasis on the markets as epistemic orders. Despite those similarities, Hidalgo does not come at the topic of economic complexity, as most Austrians would, from an approach motivated by the logic of human action; instead, he comes at the problem from an angle Austrian economists will be largely unfamiliar with.
As implied by the book’s subtitle, The Evolution of Order, from Atoms to Economies, at the heart of that angle is...
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