Quotes from George Gilder

mollusks"—Einstein's word for entities in a relativistic world.

thus has been the only commodity whose future price is always equal to the spot price plus the rate of interest over the time period. A million paper dollars held since 1913, when the Federal Reserve Bank was created, would be worth $20,000 today, down 98 percent. A million dollars of gold in 1913 would now be worth $62 million.

The invention of reliable and recognizable timepieces—clocks and bell towers—liberated workers from the bondage of piecework, which entails regimentation to count the pieces and favors quantity over quality, slavery over free labor.

In the age of Big Data, the von Neumann bottleneck has philosophical implications. The more knowledge that is put into a von Neumann machine, the bigger and more crowded its memory, the further away its average data address, and the slower its functioning.

the world—have been sucked up into the phantasmagorical pages of a novel by Neal Stephenson, the shy West Coast

They imagine that the plight of the Palestinians reflects not their own Marxist angst, anti-Semitic obsessions, and recidivist violence but the actions of Israel. In their view, Israel's wealth stems not from Jewish creativity and genius but from cadging aid from the United States or seizing valuable land and other resources from Arabs.

In 1976 Friedman suffered a crippling intellectual trauma that for the rest of his life seriously affected his thinking. The king of Sweden awarded him a Nobel Prize for economic science, specifically for his errors—his monetary theory and his permanent income hypothesis.

Thesis Number 23: "The power of government should not be used to compel everyone to learn the same things in the same way at the same place at the same pace at the same age.

But the most impressive Markov warriors and Siren Servers are not at Google or Amazon or Facebook. They reside at a little-known but astonishingly successful company transforming the world of finance. The real Markovian masters of the universe run a venture in Setauket, Long Island, called Renaissance Technologies. It is the Google-era titan of finance and investment.

Poverty, for example is primarily a matter of prospects and connections.

Entrepreneurial creation is the generation, de novo, of novelty and surprise—freedom of choice originating in the world of ideas, and imagination beyond all concern with chemicals. The contrary view—that all ideas are determined by material relationships—is the materialist superstition.

incommensurable

In a free economy, a high degree of apparent randomness does not mean actual randomness. An apparently random pattern is evidence not of purposelessness but of an entrepreneurial economy full of creative surprises.

Google offers to its "customers" is free. Internet searches are free. Email is free. The vast resources of the data centers, costing Google an estimated thirty billion dollars to build, are provided essentially for free. Free is not by accident. If your business plan is to have access to the data of the entire world, then free is an imperative.

In the United States, unmoored Markovian money can be manipulated at will by the Federal Reserve in the interests of its sponsors in government and their pseudo-private cronies.

What makes capitalism succeed is not chiefly its structure of incentives but its use of knowledge and experience.

From Pastor Malthus to the Club of Rome's Limits to Growth; from hysteria over DDT, PCBs, and natural gas "fracking"; to continuing bouts of chemo-phobia and population panic; the achievements of capitalism have suffered a long series of detractions. The factitious and febrile campaign against global warming is only the latest binge of self-abuse among the children of prosperity.

The point about bad money is not that it converges with the worth of the paper it is printed on. It is worse than that. Falsifying the information basis of all prices, it stultifies entrepreneurs, deceives savers, and fosters tyranny. Interest

Under Arab rule, Palestine had always been a somnolent desert land that could have sustained no authentic twentieth-century Arab awakening. Palestine without Jews is a not a nation but a naqba.

Disguising this edifying process in the United States are the handi-capitalists in nominally "private" institutions – from Wall Street money-shufflers and government-guaranteed mortgage hustlers to corn-state ethanol farmers and Silicon Valley solar shills – that are dependent on public handouts and mandates for their success.

Devoid of the outside influences of capital and technology, the source of bitcoin value becomes the pure irreversible passage of time. The

Enforced by genetics, sexual reproduction, perspective, and experience, the most manifest characteristic of human beings is their diversity. The freer an economy is, the more this human diversity of knowledge will be manifested. By contrast, political power originates in top-down processes—governments, monopolies, regulators, and elite institutions—all attempting to quell human diversity and impose order. Thus power always seeks centralization.

To the Austrian economics of subjectivity, time provides an objective foundation.

Money, like the cosmos, has become relativistic and reversible at will. The three hundred years of Newtonian prosperity having come to an end, the new multiverse seems unable to repeat the miracle of a golden age of capitalism. It is now widely held that citizens are essentially owned by the state on which they depend. Slavery, in the form of servitude to governments, is making a comeback as money transactions become less trustworthy.