Society continually promotes and adjusts to technological change. While mainstream economic thought assumes tastes and technology as given, it has had little to say about how society has promoted and adjusted to technological change.
The book presents a utopian design for society in the 21st century whose purpose is to promote discovery, invention and innovation, which have become the principal aspects of national state competition.

Society continually promotes and adjusts to technological change. While mainstream economic thought assumes tastes and technology as given, it has had little to say about how society has promoted and adjusted to technological change.
The book presents a utopian design for society in the 21st century whose purpose is to promote discovery, invention and innovation, which have become the principal aspects of national state competition.

What algorithms are tractable depends on the speed of the processor. Given the speed of digital computers, polynomial algorithms are considered tractable. But, a human can take several seconds to make one binary comparison between two pens. Given this slow speed, sublinear algorithms are considered tractable for an unaided human and this defines Simon's concept of bounded rationality. Humans make simplifications to solve the intractable consumer optimization problem. Consumers search for goods and services item-by-item, which greatly reduces the number of alternatives to consider. In...