a wrote:
Linas Vepstas wrote:
...
The issue is that there's no safety net protecting against avalanches
of unbounded size. The other issue is that its not grains of sand, its
people. My bank-account and my brains can insulate me from small
shocks.
I'd like to have protection against the bigger forces that can wipe
me out.
I am skeptical that economies follow the self-organized criticality
behavior.
There aren't any examples. Some would cite the Great Depression, but
it was caused by the malinvestment created by Central Banks. e.g. The
Federal Reserve System. See the Austrian Business Cycle Theory for
details.
In conclusion, economics is a bad analogy with complex systems.
OK. I'm skeptical that a Free-Market economy has ever existed.
Possibly the agora of ancient Greece came close. The Persians though
so: "Who are these people who have special places where they go to cheat
each other?" However I suspect that a closer look would show that
these, also, were regulated to some degree by an external power. (E.g.,
threat of force from the government if the customers rioted.)
-----
This list is sponsored by AGIRI: http://www.agiri.org/email
To unsubscribe or change your options, please go to:
http://v2.listbox.com/member/?member_id=8660244&id_secret=51221478-ab187a
