Capitalism is an Information and Learning System

Many free market advocates view capitalism as a system as dominated by incentives, with economic agents treated as inhabitants of a Skinner box driven by rewards and punishments. But, in fact, capitalism is an information and learning system governed by information as entrepreneurial surprise. Wealth is knowledge; growth is learning; money is real and reflects the abiding scarcity of time. The source of all progress is human creativity, which always comes as a surprise to us, joining information and enterprise.For a complete list of speakers, topics, and dates of the Free Markets: The Ethical Economic Choice speaker series visit heritage.org/free-markets. Hosted on Acast. See acast.com/privacy for more information.