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Author Topic: The Future of Bitcoin—by a famous economist  (Read 5026 times)
marcus_of_augustus
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May 30, 2011, 06:55:50 AM
 #21


Resource scarcity is a myth so the rest of what he is proposing is based on that faulty premise that resources need to be managed.

http://en.wikipedia.org/wiki/The_Ultimate_Resource_%28book%29

Julian Simon's got it figured 30 years ago ...

It is just more communist clap-trap masquerading as eco-economics.

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Keyur @ Camp BX
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May 31, 2011, 06:51:08 AM
 #22

It's funny that nobody thought to ask who this mystery "famous" economist is yet...

He is a famous and mysterious economist, whose fame is only exceeded by his mysteriousness.  Tongue


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benjamindees
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May 31, 2011, 08:43:16 AM
 #23


Resource scarcity is a myth so the rest of what he is proposing is based on that faulty premise that resources need to be managed.

http://en.wikipedia.org/wiki/The_Ultimate_Resource_%28book%29

Julian Simon's got it figured 30 years ago ...

It is just more communist clap-trap masquerading as eco-economics.

Lol wut?  Julian Simon was a clinically-depressed psychologist who liked to publicly engage in a rather sociopathic form of self-delusion -- convincing himself that everything really was getting better all the time and that unrestrained capitalism wasn't what everyone could plainly see, a flaming, pesticide-infused shit sandwich.

This was America's response to the 70's oil shocks and the environmental movement -- Ronald Ray-gun consulting astrologers as to how many trillions of dollars worth of debt to saddle future generations with in order to build space weapons to fight communist nazis, and economists declaring that debt and environmental degradation isn't a problem because everything is infinite if only you believe.


"I have created a new economic system.  It's called trickle-down economics!"

Simon didn't figure out anything.  He just correctly realized that a billion Chinese could be easily deluded by their government into signing up for work camps and that Americans would tolerate exchanging steak for salt-and-tallow-infused pre-formed hamburger patties... at least for a while.  That arrangement won't last another five years.  You think commodity prices are high now?  Just wait until average Asian workers get tired of building disposable crap they can't even afford and average Westerners get really fed up with eating $12 hot dogs at every meal.  A few students rioting in Europe over tuition prices will be a cake-walk compared to that.

"Re-sources" are infinite, because they are cynically defined so as to include human labor.  Of course you can easily make anything "infinite" if you just include the infinite labor of infinite future generations in the equation.  And inter-generational debt-slavery can go on pretty much forever, or at least until the last human born into a desert wasteland lacks the physical ability to manually desalinate the last drop of water and has failed to evolve a chlorophyll-powered reverse-osmosis organ.

Actual sources of wealth, on the other hand, are finite.  A psychologist-turned-business-administration-professor may try to convince you otherwise, but anyone with the most basic education in physics or chemistry can see it's true.

Let's just agree that sandwiches are an unlimited resource too, as long as I can come to your house and beat you with a rubber hose every time I want you to make me one.

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May 31, 2011, 08:53:59 AM
 #24

2 cups of espresso before breakfast? .... phew, i think you forgot the \rant at the end though.


Edit: First, successfully define "resource" ... and we'll begin an adult conversation.

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May 31, 2011, 09:54:16 PM
 #25

There is no such thing as a finite resource.

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benjamindees
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May 31, 2011, 10:29:56 PM
 #26


Exergy.

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marcus_of_augustus
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May 31, 2011, 10:36:43 PM
 #27


Clearly the resource of creative imaginative thought in some people is finite.

Thankfully, that is not true in the wider population.

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May 31, 2011, 10:54:13 PM
 #28

Let's start from a mission statement of the purpose of an economy, but not using the traditional idea, but what most people, intuitively, know it has to be:

The intelligent, and sustainable management of earth's resource for the benefit of the world population.

An economy exists to enable the division of labor so I can get what I want without having to be entirely self-sufficient i.e. making my own clothes, food, tools, etc. If I had to do any of these things, they would be of lower quality and take longer to produce.
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