George Gilder on knowledge, power, and the economy

While the learned debate, rational actors in the market practice a de facto gold standard.

A fundamental way to put the point is this: A lot of our recent innovations are “private goods” rather than “public goods.” Contemporary innovation often takes the form of expanding positions of economic and political privilege, extracting resources from the government by lobbying, seeking the sometimes extreme protections of intellectual property

First, the governing class, and the technocrats, accumulate power and wealth, and they begin to shape the institutions to protect their interests.

Efficiency will become more important than the dictates of power in the organization of social institutions. This means that provinces and even cities that can effectively uphold property rights and provide for the administration of justice, while consuming few resources, will be viable sovereignties in the Information Age, as they generally have n

With modest leverage and relentless twenty-four-hour