2min snip

Naval cover image

The Deutsch Files II

Naval

NOTE

Wealth and Knowledge as Transformations

Wealth and knowledge, as defined in Constructor Theory terms, are the set of all possible transformations that an entity could bring about, though it can't actualize all due to the abundance of options. Wealth is the set of transformations an entity can make, using knowledge and physical assets to address the right problems and create solutions, therefore growing knowledge and wealth together. This concept implies that wealth cannot be quantified as a number but as a set of transformations, making it impossible to compare the wealth in absolute terms between individuals like Mozart and Nathan Rothschild, as both created something unique out of existing knowledge.

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