What is Knowledge and Power by George Gilder about?

Knowledge and Power by George Gilder applies information theory to capitalism, arguing that economic growth stems from entrepreneurial knowledge rather than government planning. Gilder presents capitalism as an information system where entrepreneurs generate high-entropy, surprising innovations that create wealth. The book contrasts the creative knowledge of business owners with government regulation, which Gilder views as "noise" that disrupts economic information flow and causes crises like the 2008 financial collapse.

Who is George Gilder and why did he write Knowledge and Power?

George Gilder is an American economist, investor, and author born in 1939 who co-founded the Discovery Institute. His 1981 bestseller Wealth and Poverty became President Reagan's most-quoted living author and established him as a pioneer of supply-side economics. Gilder wrote Knowledge and Power to present a new economic paradigm moving beyond traditional supply-side models, focusing instead on information theory as the foundation for understanding how capitalism creates wealth.

Is Knowledge and Power by George Gilder worth reading?

Knowledge and Power is worth reading for those seeking an unconventional perspective on capitalism and economic policy. The book offers fresh insights into financial crises, entrepreneurship, and government intervention through the lens of information theory. However, reviewers note it's a challenging read that requires patience. It's particularly valuable for fiscal conservatives, business owners, CEOs, and investors interested in understanding how knowledge and innovation drive economic growth.

Who should read Knowledge and Power by George Gilder?

Knowledge and Power is ideal for entrepreneurs, investors, policymakers, and business leaders seeking to understand modern capitalism through information theory. The book benefits readers interested in supply-side economics, venture capital, and technological innovation's role in economic growth. Fiscal conservatives and those critical of government intervention will find Gilder's arguments compelling, while economists and financial professionals gain unique explanations for market volatility and financial crises through an information-driven framework.

What is the information theory of capitalism in Knowledge and Power?

The information theory of capitalism in Knowledge and Power defines economic progress through information entropy and surprise rather than equilibrium. Drawing from Claude Shannon's work, Gilder argues that information equals unexpected, high-entropy innovations created by entrepreneurs. These surprises drive growth when transmitted through low-entropy carriers like stable property rights, sound money, and rule of law. Markets function as information systems coordinating dispersed knowledge, with entrepreneurial disruption generating the profitable surprises that fuel capitalism.

What is the main argument about entrepreneurs in Knowledge and Power?

George Gilder argues in Knowledge and Power that entrepreneurs are creators who invest resources without guaranteed returns, generating surprising innovations that meet unexpressed consumer needs. Their wealth reflects superior knowledge and continuous reinvestment rather than greed or privilege. Gilder presents profits as an "altruism index" measuring value created for others, with successful entrepreneurs bound to their enterprises through constant customer service. This contrasts sharply with government bureaucrats who lack skin in the game and accountability.

How does Knowledge and Power explain government's role in the economy?

Knowledge and Power portrays government as a source of "noise" that distorts economic information flows and suppresses entrepreneurial knowledge. George Gilder argues that excessive regulation, taxation, subsidies, and bureaucratic mandates obscure the information entrepreneurs need to allocate resources efficiently. When government intervenes through spending programs or protectionism, it creates rational decisions based on massive ignorance rather than irrational behavior. This information disruption, not market failures, causes economic crises and inefficiency according to Gilder's framework.

What does "giving precedes exchange" mean in Knowledge and Power?

In Knowledge and Power, George Gilder argues that capitalism begins with entrepreneurial "giving"—investments made without guaranteed returns that create value before any exchange occurs. This challenges traditional economic models that view markets purely as transactional exchanges. Entrepreneurs commit capital and resources upfront as gifts to potential customers, taking risks based on knowledge and vision rather than certainty. Only after this initial giving succeeds do profitable exchanges emerge, making altruistic risk-taking the foundation of wealth creation rather than self-interested bargaining.

Knowledge and power

the information theory of capitalism and how it is revolutionizing our world

George Gilder

3.94(430 Reviews)

Overview of Knowledge and power

George Gilder's revolutionary economic masterpiece applies information theory to capitalism, earning Steve Forbes' declaration that it "will reshape economics." Reagan's most-quoted author challenges conventional wisdom, positioning entrepreneurs as innovation drivers while government regulation distorts the vital signals powering true prosperity.

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Chapter 1

The Alchemy of Information: Where Knowledge Meets Power

In 1948, a quirky genius named Claude Shannon published a paper that would transform our world. While unicycling down the hallways of Bell Labs and juggling for colleagues, Shannon was quietly revolutionizing human understanding with his "Mathematical Theory of Communication." This unassuming work laid the foundation for our entire digital age-from the smartphone in your pocket to the internet that connects billions. Yet unlike his contemporary Alan Turing, Shannon remains relatively unknown outside technical circles. Bill Gates calls Shannon's work "the Magna Carta of the Information Age," while Steve Jobs considered him one of history's greatest unsung heroes. What Shannon discovered-that information is fundamentally about surprise, not order-provides the missing piece in our understanding of economics, innovation, and human creativity. George Gilder's "Knowledge and Power" reveals how Shannon's insights offer a revolutionary framework for understanding not just technology but the very nature of prosperity itself.

Chapter 2

The Blind Spot in Economic Thinking

While most humans intuitively understand that economic life is filled with unpredictable surprises, economics itself has strangely attempted to eliminate surprise. From Adam Smith onward, the discipline has sought to render economic events predictable, inspired by Newton's mechanical universe. This deterministic approach yielded impressive insights about supply and demand, price mechanisms, and market behavior, but ignored the unbridgeable gap between physics and human behavior: free will and creativity. Just as weather systems defy precise prediction despite known physical laws, human economic behavior proves even more complex and unpredictable. The fundamental flaw in economics is treating it as a system of markets without acknowledging the entrepreneurs who drive change. Both "free market" economists and socialists share this blindness - one believing in the system's natural equilibrium, the other wanting to impose it through central planning, neither focusing on the miracles of innovation that save us from starvation. Silicon Valley's rapid technological advances, Tesla's disruption of the auto industry, and Amazon's transformation of retail all emerged from entrepreneurial vision rather than market forces alone. The 2008 financial crisis exemplified this failure, as economists' models couldn't account for homebuyers' free will decisions or the complex interplay of human psychology and market dynamics. Traditional models assumed rational actors making optimal choices, yet failed to capture how fear, greed, and social contagion drove the housing bubble and subsequent crash. The solution lies in unifying knowledge and power, recognizing that crucial economic knowledge originates in individual human minds and is inherently dispersed across millions of market participants. A new economics must place free will and innovation at its center - an economics of surprise that distributes power as it extends knowledge. What's most striking is that while economists debate fiscal and monetary policy, they've missed the fundamental science that explains how economies actually grow. Neither Keynesian demand management nor Austrian free-market theories can fully explain the extraordinary 119-fold increase in economic output since 1800. Traditional models attribute 80 percent of growth to an unexplained "residual" factor - a glaring admission of ignorance about what actually drives prosperity. This residual, often labeled "total factor productivity," encompasses crucial elements like technological innovation, entrepreneurial discovery, and institutional evolution that conventional economics struggles to quantify or predict. Examples abound: the steam engine, electricity, the internet, and artificial intelligence have transformed the economy in ways no economic model could have forecast. The path forward requires acknowledging that economic progress stems not from mechanical market forces but from human creativity, risk-taking, and entrepreneurial insight. From Henry Ford's assembly line to Steve Jobs's iPhone, transformative innovations arise from individual vision combined with decentralized market experimentation. Understanding this dynamic requires a fundamental rethinking of economic theory, one that embraces uncertainty and surprise as essential features rather than analytical inconveniences.

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Chapter 3

Information Theory: The Missing Science of Surprise

The economic crisis of our time cannot be understood through traditional economic frameworks alone. It requires the science of information, which emerged after both major economic schools developed their theories. This timing gap explains why classical and Keynesian economics lack crucial insights about information's role in markets and innovation. Information theory's fundamental axiom is simple yet profound: all information is surprise. Information represents the difference between what we knew before and after transmission - a measure of uncertainty resolved. While classical economics focused on market equilibrium and order, what it lacked was a science of disorder, randomness, and innovation - a mathematical foundation for freedom of choice. This missing piece helps explain why traditional models often fail to predict or explain technological disruption and entrepreneurial breakthroughs. Claude Shannon revolutionized our understanding by defining information in terms of surprise and probability, measuring it through "information entropy." His brilliance lay in creating a rigorous mathematical discipline that quantified information in precise, measurable units. A coin toss yields one bit of information; a die throw produces 2.58 bits. More complex systems - like language, music, or market signals - can be analyzed using the same principles. By defining the bit, calculating entropy, gauging channel capacity, and exploring noise interference, Shannon created the foundation for our entire information age - from digital communications to modern computing. This theory extends naturally to economics. An entrepreneur like Steve Jobs must encode business concepts into physical reality through design, engineering, manufacturing, and distribution - a process dense with information at every stage. The success of ventures like the iPod depends on a stable channel through which ideas can be realized over time. Apple's journey from concept to global phenomenon illustrates how innovation requires both creative signal (new product ideas) and reliable transmission (consistent execution). This channel requires what Adam Smith identified as essential features: free trade, reasonable regulations, sound currency, modest taxation, and reliable property rights. Information theory's fundamental principle applies perfectly: transmitting high-entropy, surprising products (innovations) requires a low-entropy, unsurprising channel (stable economic environment). Just as noise disrupts telephone signals, economic instability interferes with entrepreneurial activity. Government creates the most destructive interference when it either neglects its role as channel guardian or attempts to favor certain signals, creating unpredictable political noise that depresses long-term investment. Interest rates are critical indicators that, when manipulated, issue false signals undermining entrepreneurial activity. Like static on a phone line, policy uncertainty and arbitrary intervention make it harder for entrepreneurs to receive and act on market signals. The Federal Reserve's manipulation of interest rates, for instance, distorts the vital information contained in the price of money - equivalent to introducing systematic noise into the economic channel.

Chapter 4

The Entrepreneurial Surprise Machine

The central failure of economics has been its inability to grasp the centrality of entrepreneurial creation. Economic growth, jobs, welfare, and markets all stem from entrepreneurial creativity, yet economists everywhere have counseled governments to attend to everything except what matters most: the innovation environment. From Adam Smith onward, economists predicted the eventual demise of the entrepreneurial role, believing giant institutions would dominate the economy. Yet contrary to these theories, entrepreneurship remains more vital than ever-in 2010, venture-backed companies generated over a fifth of America's GDP, and companies under five years old created all new jobs. Though visionaries like Drucker, Bell, and McLuhan correctly identified our era as an age of information, they didn't fully grasp its substance. The most important feature of an information economy isn't equilibrium but its overthrow-what Schumpeter called "creative destruction." Shannon stressed the stochastic nature of information, combining probabilities with skill, randomness with structure. Entrepreneurship, like Shannon's white noise, appears random but isn't. As Shannon noted about markets: "The mathematics is not as important in my opinion as the people and the product." Creativity is always surprising-it cannot be planned or demanded by governments or even customers, as Steve Jobs and Henry Ford understood. True innovations come from the supply side as high-entropy surprises. Consider the case of Qualcomm, founded by Shannon students Jacobs and Viterbi. When they proposed their digital wireless technology, industry experts claimed it "violated the laws of physics." Yet Qualcomm would become one of the world's most valuable corporations by understanding that digital wireless isn't about maximizing power but controlling it-operating at watts rather than kilowatts to maximize the number of unexpected bits all radios can transmit and receive.

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Chapter 5

Reversing Adam Smith: Supply Creates Its Own Demand

In 1976, economist George Stigler highlighted Adam Smith's famous tenet that "the extent of the market" shapes economic innovation and division of labor. Though respected across economic schools, this concept represents the original sin of demand-side economics. Smith's vision positions entrepreneurs as tools of pre-existing markets rather than their creators. This framework creates a theoretical problem: if innovation is bounded by market extent, and markets become fully occupied, what prevents monopolization? The logical conclusion becomes that only regulatory state power can prevent free economies from deteriorating into oppressive monopoly regimes. Economists remain perplexed by the near absence of such enduring monopolies, typically focusing on giant companies just before their dominance collapses. The fundamental error lies in Smith's demand-side premise that markets define technology and demand creates supply-a profound fallacy leading to endless mischief in entrepreneurial activity. The entrepreneur creates the market, not vice versa. This reversal of Smith's premise explains why economists' predicted monopolies rarely materialize. Entrepreneurs extend markets through learning curves that continuously reduce costs and expand possibilities. In this continuing process, the only limits come from the supply side. Physical entropy reaches its limit when all energy levels equalize, while information entropy reaches its limit when all bits become equally likely and no further knowledge can be captured. These knowledge and power limits apply to every enterprise, representing the ultimate extent of a market that can be launched down a particular learning curve. From Adam Smith's pin factory to Moore's Law, the division of labor drives market extension, not the other way around. Supply creates its own demand through the proliferation of goods and services down the curves of learning, entropy, and imagination.

Chapter 6

The Misunderstood Nature of Economic Order

The Austrian school's concept of "spontaneous order" fundamentally clashes with information theory. While Austrians correctly grasp capital as a complex creative structure rather than mere flow, their belief that economic complexity emerges without planning contradicts information theory's core principles. Order, by definition, is low-entropy, predictable, and information-poor - like a crystal's regular atomic structure. Complexity, in contrast, is high-entropy and information-rich, resembling the intricate patterns of biological systems. When Adam Smith described capitalism as a "great machine," he inadvertently depicted a low-entropy system incapable of generating the high-entropy innovations driving economic growth. Modern economies don't operate like clockwork mechanisms - they function more like evolving ecosystems. The phrase "spontaneous order" contains an inherent contradiction - spontaneity implies surprise and high entropy, while order signifies predictability and low entropy. This linguistic tension reflects a deeper conceptual confusion about capitalism's nature. Information theory, developed by Claude Shannon, teaches that high-entropy creations require low-entropy carriers. Just as digital information needs stable electronic circuits, capitalism's creative surprises depend on reliable foundational structures. These include property rights, contract enforcement, national defense, and monetary systems - elements that cannot emerge through "spontaneous order." These institutional carriers naturally tend toward entropy and deterioration as politicians pursue self-interested interventions and populist movements target successful economic groups. The libertarian misconception that capitalism thrives in anarchy ignores historical evidence that legal codes and moral practices don't materialize spontaneously from marketplaces. The development of commercial law, from medieval lex mercatoria to modern corporate structures, required deliberate effort and heroic struggle. The English common law, Roman civil law, and American constitutional order - all essential to modern capitalism - emerged through centuries of conscious development, not spontaneous emergence. This understanding resolves a persistent paradox in economic theory: if capitalism naturally produces optimal outcomes, why do we need rules and institutions? The answer lies in recognizing that capitalism isn't fundamentally about order but about creative disorder - and creative disorder requires a stable framework to flourish. Consider Silicon Valley's innovation ecosystem: it depends on patent law, venture capital regulations, and contract enforcement. Just as Shannon's information theory demonstrates that high-entropy messages require low-entropy channels, economic creativity needs stable institutions as its foundation. Modern examples abound - countries with weak property rights or unreliable legal systems struggle to generate sustained innovation, regardless of their market freedom. China's economic transformation required building reliable institutional structures before entrepreneurship could flourish. Similarly, post-Soviet economies learned that merely eliminating central planning wasn't sufficient - they needed to construct robust legal and financial institutions.

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Chapter 7

Banking: The Art of Knowledge and Power

In the depths of the 1982 recession, with interest rates above 20%, double-digit inflation, and unemployment near 10%, Bob Wilmers made the counterintuitive decision to take over a failing bank in Buffalo-a city suffering from Rust Belt decay. This financial crisis, contrary to popular belief, was at least as severe as the 2008 meltdown. While Reagan boldly combined tight monetary policy with tax cuts to launch a twenty-year boom, Wilmers demonstrated equally contrarian business leadership. Taking active ownership of M&T Bank in Buffalo, he rejected the prevailing model of distant management and debt origination. Despite discovering organized crime connections in a subsidiary and operating in a declining city, Wilmers built M&T through conservative lending based on intimate borrower knowledge. The bank grew 20% annually for his first decade, attracting Warren Buffett's investment. Over 34 years, M&T shares appreciated at 20.6% annually, with 140 consecutive profitable quarters and no missed dividends even during the 2008 crisis. Wilmers became a vocal critic of the casino-like operations of major banks, where 75% of revenues came from leveraged trading rather than actual lending. He particularly condemned government-sponsored enterprises like Fannie Mae and Freddie Mac, noting that Canada achieved higher home ownership rates without such entities. His conservative "good loans get repaid" philosophy proved that traditional banking could thrive amid financial chaos. In North Carolina, BB&T Bank followed a similar path of principled banking under John Allison. Starting at the small farm bank in 1971 as a recent UNC graduate with an affinity for Aristotle and Ayn Rand's ethics, Allison stayed for 37 years. Under his leadership, BB&T grew from a $4.5 billion statewide bank to a $152 billion institution operating across eleven states. Like M&T, BB&T survived the subprime crisis without quarterly losses by refusing risky products on moral grounds. When TARP passed in 2008, regulators essentially forced BB&T to accept funds they didn't need, threatening new capital standards. BB&T was the first to return the money when allowed. What these bankers understood was that banking isn't primarily about money but about knowledge. Their success came from knowing their customers, understanding their communities, and maintaining the discipline to say "no" when necessary. This integration of knowledge and power-knowing what to fund and having the capital to do so-represents the essence of successful capitalism.

Chapter 8

The Wealth Creation Paradox

As government mismanagement of the economy leads to recession and stagnant growth, media and academia inevitably turn their focus to inequality. But wealth is only valuable when combined with information-without knowledge, or when corrupted by greed, wealth quickly dissolves like lottery winners' fortunes. The stark statistical reality shows the top 1 percent of American households possess more net worth than the bottom 90 percent combined, while the bottom 30 percent have virtually no measurable net worth. This disparity extends globally, raising fundamental questions about fairness: Why should Mark Zuckerberg command $18 billion while social workers earn modest salaries? Why should Bill Gates be worth $50 billion while pioneering software developers struggle? Critics like Jeffrey Sachs argue that America's elites have abandoned social responsibility, chasing wealth while 100 million Americans live in poverty. Most observers concede capitalism generates prosperity, but question whether its strange distribution of rewards makes moral sense. The standard defense of capitalism argues that inequality is the unavoidable byproduct of wealth creation processes that benefit everyone. But this misses the point-what distinguishes America's entrepreneurs isn't greed but discipline, hard work and austerity. True greed seeks unearned wealth through government intervention. The rich have generally earned their money through contributions exceeding their incomes. Capitalism works not because of incentives or just deserts, but because wealth creators are granted the right and burden of reinvesting it. Warren Buffett's lower tax rate reflects his superior entrepreneurial knowledge as an investor. Entrepreneurial wealth comes not from credentials but from mastering the "gritty and relentless details" others consider beneath them. The 1 percent creates surprises-from Sam Walton's retail empire to Herb Kelleher's Southwest Airlines-by developing expertise where others see only tedium. Leading entrepreneurs don't climb hierarchies; they create new ones through unpredictable innovation that defies planning. This wealth creation process offends planners because it yields mountains of new wealth through unpredictable means. Entrepreneurs consume only a small portion of their holdings, as they must continually reinvest to maintain value. They are effectively "bound to the mast" of their enterprises-like Larry Page and Sergey Brin with Google-able to keep their wealth only by investing it in others.

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Chapter 9

Beyond Materialist Superstition

Information theory refutes materialist reductionism. As Norbert Weiner wrote in 1948, "Information is information, not matter or energy." The architecture of ideas from Godel, Turing, von Neumann, and Shannon created the foundation for digital computers, fiber optics, wireless communications, and the Internet. Shannon's insights explain why high-entropy information migrates to forms of spectral light-the ultimate low-entropy carrier. Beyond technology, information theory provides a new epistemic foundation for all sciences. The most crippling force in science is the effort to define humans as determined products of material forces-not real science but scientism. The materialist superstition cripples economics most severely by shaping government policy through homo economicus-an upgraded stimulus-response function responding to physical pleasure or pain. Unlike real humans, this economic man doesn't create or leap ahead purposefully; he merely seeks equilibrium, responding to local surroundings and smoothing out market disequilibria. Economic activity, however, isn't iterative or ergodic-it's entropic and full of surprises. Businesses can't survive by producing the same goods for decades. Economic activity transforms environments through new ideas, makes speculative leaps, reaches globally, and requires knowledge combined with power. Enterprise is governed less by economic theory than by information theory-the convergence of knowledge with power. Both Kelly and Johnson offer ambitious Darwinian views of technology, proposing that human intelligence and technological artifacts are merely extensions of evolutionary biology. This perspective aims to banish any notion of transcendent creation and devalue individual human creators. Their theme is essentially "You didn't build that"-technology is an independent actor emerging from biological evolution. The root failure of this biocentric vision is a fundamental misunderstanding of information theory. Kelly and his peers mistake information for order, when they are actually opposites. Entropy is not order and predictability but disorder and "surprisal." By blurring information and order while ignoring profit, they fail to recognize the clear demarcation between evolutionary forces and human creations.

Chapter 10

The Economics of Giving

Capitalism begins with giving, not exchange. The initial gift evokes the desire to reciprocate, which induces exchange. Successful gifts require understanding recipients' needs, often fulfilling unknown or unconscious desires in surprising ways. The contest of gifts leads to an expansion of human sympathies. Profit is the difference between an item's value to the giver and its value to the recipient-thus an index of investment altruism. In monetary economies, capitalist gifts are called investments, made without predetermined returns. The unending contributions of entrepreneurs-forgoing consumption, exploring markets, investing capital, creating products, building businesses, inventing jobs, accumulating inventories-all before any return is received and without assurance of success, constitute a pattern of giving that dwarfs any socialist redistribution scheme. Entrepreneurs aren't primarily motivated by consumption or indulgence, but by the freedom to consummate their ideas. Capitalism transforms the impulse to give into a disciplined process of creative investment based on continuous analysis of others' needs. The fatal problem with forced redistribution isn't lack of incentives but eclipse of information-the rich secure advantages by taking rather than giving. Dumb money does more harm than good; excess welfare creates dependency. True generosity isn't soft or sentimental but responsible giving through a system of reciprocity where wealth gravitates toward those most capable of using it for others' benefit. Capitalism succeeds not through powerful incentives but by linking knowledge with power. It grants resources to entrepreneurs who've proven their ability to forgo immediate gratification, assigning economic power not to intellectuals but to those who test ideas with their own wealth and work. Progressive taxation destroys not just incentives but information itself, preventing givers from reinvesting based on new knowledge. No rational determinist scheme can encompass entrepreneurial entropy. In a competitive economy, owners live on the crest of creation, continually informed by surprising news that shifts future returns. Socialism shields citizens from risk but also from knowledge of real dangers and opportunities, causing the entire economy to remain static in a dynamic world. Capitalism requires constant experiments and discovery of partial knowledge; socialism presumes we already know what's needed. One system demands predictable results; the other requires giving before knowing what will return. Capitalism ventures with optimism and faith while socialism calculates with empirical certainty. When faith dies, so does enterprise-no system of collective regulation can replace the moral willingness to face danger.

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Key Themes in Knowledge and power

information theory economics
entrepreneurial surprise
economic entropy
innovation driven growth
decentralized knowledge

Quotes from Knowledge and power

Economics has strangely attempted to eliminate surprise.
Information represents the difference between what we knew before and after transmission.
The fundamental flaw in economics is treating it as a system of markets without acknowledging the entrepreneurs who drive change.
The central failure of economics has been its inability to grasp the centrality of entrepreneurial creation.

Characters in Knowledge and power

George GilderAuthor and proponent of a new economic framework
Claude ShannonGenius mathematician and founder of information theory

About the Author

George Franklin Gilder is the author of Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World and a pioneering economist and technology visionary. Born in 1939, Gilder studied under Henry Kissinger at Harvard and became a leading architect of supply-side economics.

His exploration of how information theory shapes capitalism draws on decades of research into wealth creation and technological innovation, alongside his role as Chairman of George Gilder Fund Management and co-founder of the Discovery Institute.

Gilder's influential works include the million-copy bestseller Wealth and Poverty (1981), which became required reading in the Reagan White House, as well as Telecosm, Microcosm, and Life After Google. He was President Reagan's most frequently quoted living author and received the White House Award for Entrepreneurial Excellence in 1986. Across 19 books, Gilder has established himself as one of America's most prescient analysts of technology, capitalism, and the information age.

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From Columbia University alumni built in San Francisco

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1,000,000+ curious minds.

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avg rating

1M+ learners

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

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483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

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117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

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108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

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"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

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201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

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Chapter 2

Knowledge and power

OverviewOverview of Knowledge and power

One book. Many ways to hear it.

The Alchemy of Information: Where Knowledge Meets Power

The Blind Spot in Economic Thinking

See every word as you hear it

Information Theory: The Missing Science of Surprise

The Entrepreneurial Surprise Machine

Get more out of Knowledge and power

Reversing Adam Smith: Supply Creates Its Own Demand

The Misunderstood Nature of Economic Order

See every word as you hear it

Banking: The Art of Knowledge and Power

The Wealth Creation Paradox

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Beyond Materialist Superstition

The Economics of Giving

You made it to the end of Knowledge and power

Key Themes in Knowledge and power

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About the Author

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1,000,000+ curious minds.

1,000,000+ curious minds.

One book. Many ways to hear it.

The Alchemy of Information: Where Knowledge Meets Power

The Blind Spot in Economic Thinking

See every word as you hear it

Information Theory: The Missing Science of Surprise

The Entrepreneurial Surprise Machine

Get more out of Knowledge and power

Reversing Adam Smith: Supply Creates Its Own Demand

The Misunderstood Nature of Economic Order

See every word as you hear it

Banking: The Art of Knowledge and Power

The Wealth Creation Paradox

Get more out of Knowledge and power

Beyond Materialist Superstition

The Economics of Giving

You made it to the end of Knowledge and power

Users also liked

Discover more

Overview of Knowledge and power