Schumpeter Prize–winning economist W. Brian Arthur's many years of thinking and writing about technology have culminated in a unique understanding of his subject. Here he examines the nature of technology itself and its seeming pattern of growth. He offers insights into the origin and evolution of specific technologies—from radar beams to laser printers, aircraft to power plants—as well as a new framework for thinking about all of them.
"The most important book on technology and the economy since Schumpeter. In clear, lucid prose and with fascinating examples, Arthur describes how technology 'creates itself' in an evolutionary process that has taken our world from stone tools to iPods. A work of deep and lasting importance that deserves to be widely read—you will not think about technology the same way again."—Eric D. Beinhocker