This work develops a theory of evolving systems with special reference to industries, markets, and economies that identifies the basic driving force behind economic transactions as the creation and maintenance of asymmetries in information and defines the value and cost of the information quantitatively in terms of the concept of statistical entropy, thus resulting in a general value transaction theory to be applied to socioeconomic systems. The theory is analyzed in terms of accepted theories such as the perfect competition model, transaction costs economics, the concept of dynamic capabilities, and the evolutionary approach to organizations. Annotation ©2010 Book News, Inc., Portland, OR (booknews.com)