Why Information Grows

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In this thought-provoking work, Cesar Hidalgo presents a radical interpretation of global economics, challenging traditional views on economic growth and its historical concentration in certain regions. While previous analyses have focused on institutions, geography, and psychology, Hidalgo argues that understanding economic growth requires a shift towards the science of information, networks, and complexity. He posits that economic growth is intrinsically linked to the growth of order—or information. Despite the universe's tendency towards disorder, there are pockets where information flourishes, such as cities. However, not all cities foster the same level of economic development. For instance, the disparities between economies like those of the US and Brazil, or Brazil and Chad, highlight the importance of how individuals and organizations process information. The success of regions like Silicon Valley compared to others, such as Boston's Route 128, further illustrates this point. Hidalgo emphasizes that economies consist of networks of people, and society functions as a collective computer. Thus, enhancing these networks is key to economic development. This work fundamentally redefines our understanding of wealth creation and aims to transform economics into a more insightful discipline.