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The Nature of ValueHow to Invest in the Adaptive Economy$
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Nick Gogerty

Print publication date: 2014

Print ISBN-13: 9780231162449

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231162449.001.0001

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The Economy as a Macroprocessing Network

The Economy as a Macroprocessing Network

(p.219) Chapter Thirteen The Economy as a Macroprocessing Network
The Nature of Value

Nick Gogerty

Columbia University Press

This chapter first reviews the principal components of the economic panarchy discussed in the preceding chapters. It then discusses how economies are unpredictable but show general patterns and trends similar to evolution's other processes. The challenge is to understand how these unpredictable and more predictable changes interact. Evolution's predictable economic trend toward growth and change seems to be held back mostly by knowledge and value flow blockers such as greed, abuse of power, and corruption. Understanding these factors may help investors pick economies that are viable for investment. The chapter looks at how more general evolutionary trends can help the allocator identify economic systems that are promising for investment.

Keywords:   economic panarchy, value, economic unpredictability, evolution, capital allocation, investment

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