“Researchers find a country’s wealth correlates with its collective knowledge”

A friend recently forwarded to me a brief article that describes new research on the correlation between economic complexity and prosperity – communal knowledge and economic success. 

The researchers, led by Ricardo Hausmann, director of Harvard’s Center for International Development and former Minister of Planning for Venezuela, and Cesar A. Hidalgo, assistant professor at MIT’s Media Laboratory and faculty associate at Harvard’s Center for International Development, have published a book called The Atlas of Economic Complexity. Starting today, the book is free to download at http://atlas.media.mit.edu.”

“The total amount of knowledge embedded in a hunter-gatherer society is not very different from that which is embedded in each one of its members,” the researchers write in their book. “The secret of modern societies is not that each person holds much more productive knowledge than those in a more traditional society. The secret to modernity is that we collectively use large volumes of knowledge, while each one of us holds only a few bits of it. Society functions because its members form webs that allow them to specialize and share their knowledge with others.” 

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