Audio version here This is a continuation of the last article on The Universal Lens. But only two claims from that article are needed. -All life must in some way be a statistical response model to its environment. This is because for life to continue, it must fulfill the dual mandates of gathering energy from… Continue reading Receptor Theory: Why Fiction is “True”
Category: Economics
The Universal Lens: Basic Logic of Any Self Organizing System
(of which so far constitutes only life, but this logic applies to any and all future robot overlords[1]). All systems tend towards the inevitability of entropy. A drop of ink placed in a glass of water quickly and with statistical necessity will become a glass of tinted water. A rock placed in the water would… Continue reading The Universal Lens: Basic Logic of Any Self Organizing System
Wise King Midas:80% of Macroeconomics in One Story
King Midas is the man who can turn anything he touches into gold. He has been used several times to illustrate a few basic principles about money(with the extra assumption being that during his time, gold=money. For this story, we can additionally ignore international trade just to make life easier). First, he was introduced to… Continue reading Wise King Midas:80% of Macroeconomics in One Story
The Tale of Rather Foolish King Midas
King Midas is the King from Greek mythology who had the gift to turn anything he touched into gold. In the story of slightly wiser King Midas he gains the ability to control which things turn into gold and which things do not. This was used to illustrate that real goods, not money (in this… Continue reading The Tale of Rather Foolish King Midas
Hayek Use of Knowledge Lecture Series
Here is the audio of an in depth deep dive into Hayek's Use of Knowledge in Society each audio clip corresponds to a section of the paper. Paper can be found here pdf here. Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Final Thoughts
Public Choice of Classic Chinese Literature
Water Margin (水浒传) is a book about 108 heroes who through one way or another become outlaws, it is one of the four great classics of Chinese literature and pretty jam packed with public choice messages (and the occasional cannibalism). Instead of a full summary of this thousand page long book I will instead point… Continue reading Public Choice of Classic Chinese Literature
Trade Doublethink
Q: How do you impoverish a country as punishment for their actions A: You declare sanctions to prevent then from importing Q: If you are at war how to cripple your enemy? A: A naval blockade to prevent them from importing. Q: How do you make yourself rich? A: You place large tariffs to prevent… Continue reading Trade Doublethink
Things I Wish Everyone Understood About Macroeconomics
Given some recent nonsense I have seen bandied about I thought I would do a quick write up of what I think is important for normal people to know about macro. -More spending is not some magic expand the economy juice. More money does not equal more significantly more production under normal conditions, or else… Continue reading Things I Wish Everyone Understood About Macroeconomics
Learning Economics as a Way to Curb Resentment
I think one of the most important reasons to learn economics is that if it is done properly, it can help you extend your empathy. Also knowledge of economics, specifically that other’s gain is not your loss, consistently helps me curb my natural feelings of resentment. I was standing in line to pay for my… Continue reading Learning Economics as a Way to Curb Resentment
Maybe Not Meddle with Meddling Externalities
To begin, a meddling externality is where others would be willing to pay in order to change or outlaw the behavior of others, essentially people are willing to pay in order to meddle in the lives of others. In practice this kind of externality is no different than being willing to pay for breathing less… Continue reading Maybe Not Meddle with Meddling Externalities
Homo Economicish 