The creation of economic institutions that can function under the impact of substantial 'non-quantifiable' risks is analogous to the dilemmas confronting our hunter-gatherer forefathers in the face of large-scale ecological uncertainties. The ultimate solution was not a super hunter-gatherer technology that could ride out repeated catastrophe, but the invention, in neolithic times, of culturally-adapted 'farmed' ecosystems constructed to maximize food yield and minimize risks of famine. This book applies evolutionary and ...
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The creation of economic institutions that can function under the impact of substantial 'non-quantifiable' risks is analogous to the dilemmas confronting our hunter-gatherer forefathers in the face of large-scale ecological uncertainties. The ultimate solution was not a super hunter-gatherer technology that could ride out repeated catastrophe, but the invention, in neolithic times, of culturally-adapted 'farmed' ecosystems constructed to maximize food yield and minimize risks of famine. This book applies evolutionary and ecosystem theory to the design of culturally-specific farmed economies, recognizing the impossibility of a one-size-fits-all system. The tools used are powerful new statistical models abducted from Shannon's communication theory that are well-suited to data analysis.
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