UC Berkeley School of Information   /     Lessons from a Road Warrior (John Rutledge)

Description

For 35 years, Dr. John Rutledge has traveled the world advising governments, corporations, pension funds and individual investors on how to create, grow and manage wealth. Dr. Rutledge appears weekly on Forbes on Fox, and is co-host of Fox Business' new live call-in show for people who want to start their own businesses. In his most recent book, Lessons from a Road Warrior, Dr. Rutledge traces the development of his ideas from his boyhood lessons in Winthrop Harbor, Illinois, to his easy-to-understand thermo-economics framework for investing that shapes the way he sees the world today. He uses this thermodynamics-based framework, as well as recent advances in information theory, to help the reader understand the important economic, financial and political forces that shape our lives and determine the value of our homes and stock portfolios. Dr. Rutledge will focus largely on the book's later chapters on nonequilibrium thermodynamics, network failures and the information economy, and the role played by government officials and media in the neuroscience of fear to demonstrate how the current global economic crisis is a network failure of the worldwide information system. The market economy is nothing more than a vast, parallel-processing information network that uses prices to transmit information about scarcity and preferences. But when this information network confronts a world of investors in a prolonged state of fear, caused by the last decade of both terrifyingly real and imagined frightening events, the prevailing panic can lead to system-wide network failure. Dr. Rutledge will discuss how these elevated fear levels can combine with other market factors to obstruct the flow of information — creating cascading network failures, or blackouts, in the markets like the one we are experiencing today. He will also discuss ideas about how to use new media to diffuse the global fears that are driving people into conflict.

Subtitle
Duration
1:22:41
Publishing date
2009-03-20 18:35
Link
https://www.ischool.berkeley.edu/events/2009/lessons-road-warrior
Contributors
  John Rutledge
author  
Enclosures
https://www.ischool.berkeley.edu/sites/default/files/audio/John_Rutledge_UCB_ISchool_11Mar2009_1.mp3
audio/mpeg