Recap of sorts

Moral: Wherein we pause to reflect a little since the blog's first year passed without comment.

Well, we're three months behind on that aspect. But, then things are different now than they were just a mere two weeks ago.

In parts of the country, there were very small blue islands within a vast sea of red. Gosh, what does all that mean? In terms of the viewpoint being expressed here, not much.

Let's, for now, just look at a few themes that will continue further.

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We can use some of the categories as a means to organize the material.

• Ca-pital-sino -- it is obvious that some have taken Adam Smith's ideas too far. This we want to discuss further, as that tendency to the right has no stronger foundational basis than does any of the others. As already said, the gaming aspect needs some conditional limitations imposed. They are not going to be mathematical but will be social in flavor. How can this be?
• Ideology -- it is quite visible that ideological gaming spawned ca-pital-sino. Why? Our intent is to lay out a framework with which to condition the gaming. To date, we have brought forth the reminder that we all have drives which are, for the most part, toward individuation and maturity. That latter means that we don't want meddling in our lives. Yet, we ought not meddle in others' lives either. As well, that the related decisions need to be knowledge based is obvious. Again, how is this to be?
• Numeracy -- it is unfortunate that those who follow, to the limit, what we might learn by mathematization and algorithmization have imposed on the rest a type of bestial system. That this idiocy has gathered such strength is that fat cats have had their pockets filled to the detriment of the commonweal. How was this allowed to happen?
• Underdetermination -- it is the fact that we are serious lapse in what we can and do know. Now, our maturity provides the basis for decisioning under the resulting uncertainty. That the computer has become a major player raises a whole bunch of issues. The main one is that the underlying framework is undecidable. Plenty have danced around this subject, but linear logic allows us to look at the problem more realistically.
• Big Ben -- it is to our consternation that we see real-time, and less than insightful, experimentation with our selves and our monies by a handful of the best and brightest. There is only one thing to say. Sheesh!!! Well, we'll continue to discuss this problem and its potential resolution.
• Jobs -- it is the case that the best and brightest, and the fat cats, have exported work, via out-housing and colonization, to cheaper areas (read, easier to be exploited); the American worker has been short-changed; too, initiatives, such as six sigma (a form of Quant'ification), have resulted in the degradation of the work experience so that everyone is on the proverbial treadmill without any relief in sight. And, those not on the treadmill envy the state of those who are. How did all of this come to be?
• Consumption -- it is seen that without jobs that pay and without means for purchasing the populace must sink into a pit of debt with an unfathomable bottom. Yet, those who model the economy place the role of the consumer as primary, in size and importance. How can we see such continued inconsistency from the best and brightest?

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The intent is to continue with the analysis and discussion of things dismal (meaning, of course, economic).

Remarks:

12/05/2010 -- Raj Patel has the proper grasp on the 'financial madness' that is threatening us.

11/26/2010 -- On the Greenspan Put (Rolling Stone).

11/24/2010 -- We need to list trading types that would not be possible without computational support for the associated markets, permissive legal structures, unaware populace, and more: gaming by options, ...

11/22/2010 -- Tranching, under the guise of securitization? Silly games.

11/18/2010 -- We'll be taking a closer look at the numer-ants (my terminology for those who think that numeracy is it, which is about most of the best and brightest in the western world and those of the eastern who are coming over here and eating our lunch) this next year. Why? That the quasi-empirical framework is without due attention is why. Now, numer-ants like systems. What is wrong with the systems view will take a whole lot of attention. How about some convoluted system, such as this one. Ever consider why these come about? It's easier to hide book cooking and its ilk.

Modified: 12/05/2010

Big Ben, again

Moral: Wherein we consider that Big Ben's role is part of the problem; so too says the Vienna School.

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Big Ben bought trashy, toxic assets before. He's going to again open up a landfill?

Big Ben seems to be getting to the star-role that Alan had for a long time. That he continues to sack the savers shows that something is awry with the current model.

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We looked at money before (Money 1, Money 2). Right now, it has a basis not unlike some

game. 'Whose to blame' would be a set of large cardinality, yet we need to look at this before the buck dies (year old, yet it applies).

There are better ways. We have to hope for such though a lot of ink has been spent trying to define the way. If there is a better way, can we get there from here? Who would bear the brunt of the pain? Ah, something to discuss there.

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von Mises, who has a lot more to offer to the middle position than he allowed himself to think, weighed in on how to get sound money. The trouble is that 'gold' is only one of many possible foundational elements. Also, gold has age-old, cultural problems (in use a long time; its extraction and processing is problematic to those who expend the labor; its storage is costly; ...).

It is solid. Trying to base a monetary system on something that is gas would give us what we have now: FED-aerated nonsense. So, we need something of substance that is beyond the arbitrary decision by committee, nowadays bolstered by advances in mathematics and computation, as the basis for money.

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What might that basis be? Is it not worth discussing? Perhaps, a start might be to itemize the attempts, to date. We mentioned one earlier, a heterodox approach based upon energy. Trouble is, this method relies heavily on that which is suspect, heavy use of abstraction (and its main problem) and an elite (would this be problematic to Ludwig followers?) set for guiding all of the others.

Remarks:

03/23/2012 -- Ben is doing a series of four lectures on his, and the FED's, role.

01/27/2012 -- Ben will continue to sack the savers; he must love the ca-pital-sino. Ah, guy!

12/02/2010 -- Banking is a utility (but we also need plumbers - a few, not an army).

11/26/2010 -- Continues the Greenspan Put (Rolling Stone).

11/21/2010 -- Need to remember John and Friedrich.

11/12/2010 -- Poor Big Ben, the world is beating on his clueless self.

11/08/2010 -- Big Ben, the basis that you learned in school, propagated as a professor, and are now trying to demonstrate as a wizard is suspect. You need to know this. Linear logic, et al, can help us discuss the issues. Are you really a proponent of capitalism or ca-pital-sino?

11/05/2010 -- Early on, Ben blinked. Some thought that he was out of ammo. Is he tearing apart the structure in order to have something to throw at the target (chimera that it is)? Gosh, Ben, consider infrastructural issues, please. It's a house of cards. Trying to get the whole thing to collapse (note: the former collapse was because those who game money know what creeps that they deal with -- they only have to look in the mirror -- and, knowing this, they threw in the towel -- meanwhile, expecting (and receiving) their bonuses)?

11/04/2010 -- Oops. Does Big Ben consider possible negative effects that may ensue from his real-time experimentation with the systematics of what can be called 'the economy' as he ought? Or, does he know that he can have us bail out the situation, per usual?

11/03/2010 -- Fed's big gamble.

11/03/2010 -- The cost of safely moving products? Was this considered or did the model assume an ideal, and unrealistic, situation? Making it at home will become more feasible when the true costs are considered. Now, the goal? Define an economic model based upon all considerations required. Pure profit motives, and extreme cost cutting, has always been suspect and led to the current mode of colonialistic thinking. Ah, those CEO kings do want their unlimited kingdom and unfathomable bankrolls.

11/02/2010 -- One has to wonder how things would be now if Obama had just nationalized the banks when he took office. Why? It would have afforded a chance to look at the books, closely. Too, everyone would have paused. Those getting oodles of bucks would have screamed louder than they did (remember, bonuses?). The public has a short memory; just two years back it was the order of the day to rake in via trashy finance and then get a big reward. Yet, now the etiology of that expectation by the best-and-brightest has been lost sight of.

A related topic is the current state of the out-house'd, colonialistic framework of capitalism. That is, cargo coming into this country is wide-open, it seems, to mis-use. Wait! Was this not cost'd by the market as these methods were pushed out everywhere? No? Sheesh, is capitalism to always be short-sighted like this? That is, the pain is pushed to the hapless; and, pocket picking is not the only pain, folks.

What does that mean? Well, if you cannot guarantee safe delivery from across half of the world without expending money for security (which would then raise price, lower profit), then would not local development and delivery look more appealing? To think, the 'free' market people would evidently just let things run without security (how would the Libertarian handle security for other than themselves?).

Modified: 03/23/2012

Von Mises and friends

Moral: Wherein having mentioned, several times, the Vienna School (also, known as the Austrian School) which is continental, how could we avoid specific reference to Ludwig (and John and Friedrich)?

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As in Ludwig Von Mises and his prolific writings. Reading 'The Elite Under Capitalism' would be a good start (we looked at his money work earlier).

I like how he calls the elite to task; yet, one has to look at several things. For instance, what would be 'elite' (as in, best-and-brightest? -- they offer the masses a preferred moral code?). What are these ideals to which the elite would lead us (greed? massive accumulations -- $1B house (as in Mumbai) looming over a vast expanse of slums -- or, gigantic yacht of immense proportions that is for anything but show?)?

Wait! do I smell big T-issues looming? Perhaps not, as we can be reasonable for a little while, can we not?

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When we brought in the Vienna School, there was one main factor. They do know what lies behind the mathematical facade. Why facade? What we see now is a large system, built upon the quaking basis of computation (we'll get to Church-Turing, in a bit).

Then, upon this shaky framework, we want to built an automated economy (virtual money, to boot, printable ad infinitum) that is wide-spread in many, and disparate, directions using colonialistic mindsets without regard to the neighbors in ones' own locale?

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As an aside, Ron Paul is featured in The Atlantic as saying that he was epiphany'd by the writings of Hayek who was a disciple of von Mises. That epiphany was a while ago. Now, the tea party, and other perturbers, have taken ahold of the guy's ideas thanks to Glenn Beck's reference to Friedrich (see 'The Road to Serfdom', for one).

No one wants a top-down power structure to be there for all aspects of life. The military life is top-down, yet those who rise come through the ranks. And, no one at the top tries to run things in a micro-managed sense, as if driving robots. That was tried in the past a few time enough for us to know its failings.

Yet, how do you keep free agency from devolving into anarchy? That is, what is there that would keep things under civil limits? The big question for libertarians.

A parallel in project/program management has been mentioned in this blog, and in related blogs, namely middle-out. Business is top-down, as we see the King CEO. Too, though, what CEO actually does any real work?

Not!! Good companies try to elicit good work from happy employees. How many succeed?

Yes, these are not easy issues, folks, but we'll continue in our own vein and time to discuss the underlying factors with the idea to eventually fruit results.

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As you see, what is the middle-out for the economy? Not Adam's 'hand' and not Stalin's 'fist' and not Big Ben's chimera and ...

Do you think that the Tea Party really has resolved the issues in their pullback in abhorrence from anything Keynesian? Of course, John Maynard came from the Neville line; nice of him to think so fondly of the little people. At least, he wasn't greed'd out as we see with the modern capitalists (in name only).

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So, we'll look at Ludwig's thinking as we go along. And, we'll look at him with a kind eye, probably kinder than he would has cast'd at the viewpoint being developed here.

• von Mises in a letter to Ayn Rand (emphasis mine): You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the efforts of men who are better than you.
• You want to know the irony? Listen up, CEOs, et al. This is how your working class, especially those of highly advanced education, think of you and your infantilish idiocies.

Gosh, was that fun or what?

Remarks:

03/23/2012 -- Renewal of the idea (and related energies) via Cooper and CiE.

04/03/2011 -- Need to look at some background. Too, tranche and trash.

11/21/2010 -- Three years ago, it was said: Computational foci raise miraculous need. Still applies.

11/03/2010 -- A big oops is emerging from the decimation of proper economic thinking through appeal to the higher-order thinking of the elites.

Modified: 03/23/2012