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  1. Dec 2023
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    Information: A Reader
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    1. chrisaldrich 14 Dec 2023
      Instead, he lauds the figure of themarket as a knowing entity, envisioning it as a kind of processor of socialinformation that, through the mechanism of price, continuously calcu-lates and communicates current economic conditions to individuals inthe market.

      Is it possible that in this paper we'll see the beginning of a shift from Adam Smith's "invisible hand" (of Divine Providence, or God) to a somewhat more scientifically based mechanism based on information theory?

      Could communication described here be similar to that of a fungal colony seeking out food across gradients? It's based in statistical mechanics of exploring a space, but looks like divine providence or even magic to those lacking the mechanism?

      invisible hand markets Friedrich A. Hayek information theory Divine Providence adjacent possible state space explorations

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