Knowledge and Power
January 8, 2014
In last week’s Thoughts from the Frontline I talked about the Age of Transformation, attempting to refute Robert’s Gordon rather stark and gloomy view of the future growth potential of the economy. That letter generated a rather significant amount of reader response, both pro and con, as not everyone agrees with my decidedly optimistic long-term view of the future. It might be fun and thought-provoking, in fact, to do a letter that deals with some of the issues you raised. I really do have some of the smartest readers of any economics and investing letter out there.
Inside what was a long letter even for me, I buried a few quotes from George Gilder’s latest book, Knowledge and Power. I am not simply reading this book, I am thinking through it, as some of what he writes is truly pivotal for my own thought process.
For this week’s Outside the Box, George has graciously allowed me to reproduce chapters 1 and 3 from his book. It helps that George is a gifted wordsmith and a raconteur of the highest order. He doesn't bury his insights in dry economics-speak that demands intense concentration if you are to stay focused on the topic. Rather, he draws you into and through the topic, until you find yourself on a delightful Slip 'n Slide of thought. I think you will get a lot out of reading these chapters, and I strongly suggest you consider reading the whole book. It is an important one.
I write this note as I am wrapping up three days of meetings with my partners at Altegris Investments and Mauldin Economics, focusing on how to deliver better products and services to you. And we've enjoyed a few late-night conversations about where the world is going and how to surf the inevitable and the profitable.
Continue reading here.