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, written by Jeremy. Read the commentary.

I’ve been reading Human Action by Ludwig von Mises for nearly two years. It’s a bloody dense book.

This morning I got to his chapter on “The Role of Ideas”. He makes two important points early. Action is preceded by thinking – thinking and acting are inseparable. And, individuals think – there’s joint action, but no joint thinking.

These points seem blasé until one realizes (with startling apprehension) that economics is nearly entirely focused on action, with no comprehension of thinking. We economists don’t consider how thoughts are thunk.

This is part of my bubbling enthusiasm for Nova Spivack’s new manifesto – The Physics of Ideas. Nova’s out to track ideas. He’s after a science of moving from individual thought to broader, societal response. He’s on the doorstep to an important gap in economic understanding.

I’m excited about the possibilities. I hope Nova keeps me in the loop.


Nova’s a cool thinker, imo .. and seems intent on taking it into action with Radar Networks.

Yeah, I agree. I think his idea is key for a quantitative sift technology. Wish I could get him to return my email …

[…] I’m thinking again about economics, experiments, and human action. […]