41/ Williamson’s classifies the links (ie transactions) in two axes: by frequency (recurrent and occasional) and specificity (nonspecific to idiosyncratic).
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52/ The idea of product space, a network connecting similar products, help understand the dynamics of industrial diversification and at a fundamental level explains the growth of economies as the growth of information.
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53/ As the universe moves on and entropy continues to increase, our planet continues its rebellious path marked by information rich pockets. Our lives compute forward in a universe that has no past.
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NOTE1: All credit goes to
@cesifoti, author of the most interesting book I read in 2017: "Why Information Grows: The Evolution of Order, from Atoms to Economies”.pic.twitter.com/mB7npNkggh
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