The Nature of Value: How to Invest in the Adaptive Economy
Nick Gogerty
Abstract
Using evolution as the template to understand growth, this book takes a first-principles approach to explore the parallels between economic and ecological systems. Not only does the book show how value is born out of tiny sparks of adaptive innovation, but it also explores the full scope of the economy as a complex network. The text borrows from an array of disciplines—including anthropology, psychology, ecology, physics, sociology, and ethics—and, most revealing of all, examines how evolution's processes can help investors avoid risk and improve their allocation decisions. Starting with a loo ... More
Using evolution as the template to understand growth, this book takes a first-principles approach to explore the parallels between economic and ecological systems. Not only does the book show how value is born out of tiny sparks of adaptive innovation, but it also explores the full scope of the economy as a complex network. The text borrows from an array of disciplines—including anthropology, psychology, ecology, physics, sociology, and ethics—and, most revealing of all, examines how evolution's processes can help investors avoid risk and improve their allocation decisions. Starting with a look at how innovation creates value for firms, the book considers the economic niches where companies compete and explores how they can create defensive moats to enhance their ability to survive. Throughout, the text demonstrates how this ecological understanding of the economy can help allocators improve their performance, supporting the arguments with data and experience from scientific, social, and economic disciplines.
Keywords:
evolution,
growth,
value,
adaptive innovation,
investors,
ethics,
risk,
allocation decisions
Bibliographic Information
| Print publication date: 2014 |
Print ISBN-13: 9780231162449 |
| Published to Columbia Scholarship Online: November 2015 |
DOI:10.7312/columbia/9780231162449.001.0001 |
