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Title: Unlimited Wealth : The Theory and Practice of Economic Alchemy by Paul Zane Pilzer ISBN: 0-517-58211-2 Publisher: Crown Publishing Group Pub. Date: 09 January, 1991 Format: Hardcover Volumes: 1 List Price(USD): $22.00 |
Average Customer Rating: 4.3 (10 reviews)
Rating: 5
Summary: Good book for Business Leaders
Comment: "Unlimited Wealth" by Paul Pilzer is a very interesting read. A fresh alternative to economic theory that is insightful and thought provoking. His take on "economic alchemy" gives specific references to the state of the USA and how it reached the point where it is in the global arena. This book is not a lot of fluff with tons of jargon that only financial experts can relate to. It consists of a very logical breakdown of how productivity is generated. There are some excellent ideas within this book that illustrate how issues like immigration and education are and should be addressed. Mr. Pilzer keeps the reader very interested by quoting some very astounding and possibly overlooked facts to prove his points. While his theory may not be watertight to many economists, his notions of alchemic principles should not be overlooked. This book offers a strong theory behind the growth of nations to the generation by individuals of enormous wealth and prosperity. For instance, who knew that a man could make a $56 billion dollar fortune selling software before he made it happen. Also, back at the beginning of civilization, who knew that the world population could grow to consist of 6 Billion people. Someone somewhere must be creating something from what used to be nothing.
On a final note, if you are someone who is chasing the American Dream. The dream of independence, freedom, and the realization of your own personal dreams, goals, and desires, I would recommend this book.
P.S. This book gives a detailed analysis on the strengths and flaws of the Japanese economy. Written back in 1990, could it have predicted the recent asian financial crisis? Comments?
Rating: 2
Summary: Unlimited Wealth in a limited resource world
Comment: Book Title: Unlimited Wealth
Author: Paul Zane Pilzner
Publisher: Crown Publishers, INC.: New York 1990.
Paul Pilzner in his new book, Unlimited Wealth, attempts to teach the reader how to create unlimited wealth by capitalising on existing technology gaps in imperfect markets through technology acquisition and exploitation. He outlines this process as a non-zero sum gain in which he coins the phrase 'alchemic economics'.
Pilzner's uses a macro-economic setting to outline his theory of 'alchemic economics' or non-zero sum gains. Pilzner outlines five macro-economic foundations on which the theory of economic alchemy needs to work. They are as follows: 1) The only enduring business is the business of change. 2) Businesses based on the exploitation of economic scarcity are doomed (The theory of alchemy states that technology negates scarcity). 3) No business is an island (product and process are dynamic). 4) Modern business is no longer "find a ! ! need and fill it," but "imagine a need and create it." 5) Labor is capital (the knowledge and skills of the workforce are untapped sources ripe for investment). Pilzner artfully outlines this macro-economic back drop with some very interesting historic examples, which, in turn, set the stage for Pilzner's three major tenets of 'alchemic economics': 1) Technology is a major determinant of wealth because it determines the nature and supply of physical resources. 2) The advance of technology is determined mainly by our ability to process information. 3) The backlog of unimplemented technology advances are the true predictor of economic growth for both the individual and society. Pilzner further outlines his alchemic wealth creation in an interesting equation, W=PTN. Where (W) equals wealth, (P) equals physical resources, (T) equals technology, and (N ) equals the exponential effect of technological advances. Although Pilzner's theory of alchemy is solely ! ! based on efficient technology exploitation and acquisition,! the actual key to unlimited wealth creation is based on the reader's ability to create advances in technology in either product or process.
Pilzner's theory of alchemic economics should really worry anyone concerned with the environment. The underlying implication of 'alchemic economics' states that society no longer has to worry about the environment, because resource scarcity has somehow been avoided by an exponentially growing effect of technological advance. Historically this type of economic rationalism has perhaps been the major driving force behind specie extinction rates and loss of biodiversity. The theory of alchemy is, at best, based on very shaky Ricardian economic theory verses a more Malthusian scarcity approach. Pilzner correctly outlines economic resource evaluations as being perception based and that technological advances are made by those who can look beyond the traditional paradigm. The theory is excellent at outlining how businesses might be able ! ! to exploit technological gaps, thus creating or increasing demand for a given product or service. On the other hand, the book fails to go into enough detail to allow the theory to be very useful. The book seems to be very myopic, in that it seems to be based on short term economic rationalisation of resource evaluation and scarcity. In a long term focus, it is quite evident that ALL RESOURCES ARE FINITE.
Despite the obvious short comings of the book, Pilzner's theory artfully outlines the current short comings in the allocation and distribution of scarce resources and the possibility of creating wealth from them. If you have never given much thought to economic scarcity, resource valuation, and technology gaps, this book would be an interesting read. The book is an easy read and a nice deviation from classical journals of economic theory.
Rating: 5
Summary: a unified field theory for wealth
Comment: This book describes how to build wealth broadly enough so you can apply its principles to anything. its main principle is technology unleashes your ability to build wealth and by applying dormant but existing technology to resources will create enough value for you to achieve wealth. ie using the latest version software could dramatically improve your bottom line.
Probably the most inspiring principle for me is the statement: The faster you process information the faster you will achieve your goals. This makes total sense because if knowledge is power the most important knowledge is the knowledge that allows you to get more of it. I know alot of people who are determined to succeed but they learn so slowly that by the time they figure everything out it will be too late. With the rate of change today one of the skills you've got to have is the ability to learn rapidly!
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