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 ...
Read More
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.
Read Less