Didn't the 2003 documentary The Corporation
<http://www.thecorporation.com/> make the point that corporations are
psychopaths based on some WHO criteria?
Thanks
Robert C
On 10/22/11 10:33 PM, Patrick Reilly wrote:
Sole criterion. (embarrassed laugh)
---------- Forwarded message ----------
From: Patrick Reilly
Date: Saturday, October 22, 2011
Subject: [FRIAM] Next Dictator
To: The Friday Morning Applied Complexity Coffee Group
<[email protected] <mailto:[email protected]>>
Only psychopaths have the sole criteria of maximizing perceived
self-interest in making decisions.
On Saturday, October 22, 2011, Nicholas Thompson
<[email protected] <mailto:[email protected]>> wrote:
> The idea that people maximize their individual interests is one of
those crazy ideas that economists have to postulate in order to make
their crazy theories work. In fact, people sometimes maximize their
personal interests, sometimes their family interests, and sometimes,
with great ferocity, their group interests, at the expense both to
group and family. I have no general opinion which of these is
better. They all can be terrifying.
>
>
>
> N
>
>
>
> From: [email protected] <mailto:[email protected]>
[mailto:[email protected] <mailto:[email protected]>]
On Behalf Of joseph spinden
> Sent: Saturday, October 22, 2011 3:07 PM
> To: The Friday Morning Applied Complexity Coffee Group
> Subject: Re: [FRIAM] Next Dictator
>
>
>
> I think the problem is incentives -- not simply on Wall Street, but
in the broader world as well: In general, people act to maximize
their own individual rewards. As long as the system provides
individuals with opportunities for large rewards with little personal
risk, people will act to maximize their own individual rewards. If
they are right, they earn big rewards. If wrong, others pay.
>
> Joe
>
>
>
> On 10/22/11 9:55 AM, Owen Densmore wrote:
>
> On Sat, Oct 22, 2011 at 9:09 AM, Alfredo Covaleda
<[email protected] <mailto:[email protected]>> wrote:
>
> After Gadaffi's death a local newspaper wrote : "who is going to be
the next dictator to fall?". Well, my answer is: Wall Street.
>
> --
> Alfredo
>
>
>
> I certainly agree with the sentiment. And I do believe the core
signal in our noise is the lack of a robust middle class, thus I find
very troubling the divide between the wealthy and the "rest of us" and
our immense struggle just to get by nowadays.
>
>
>
> But I don't think the problem is wall street per se. After all,
wall street funds companies who build things that are useful.
>
>
>
> I think the problems are 1) in the financial sector 2) caused by
too-big-to-fail, including monopolies.
>
>
>
> The financial sector is "different". It makes money by manipulating
money. Sometimes that's fine, for example futures markets help
stabilize the price of components of products we buy. Hedge is not a
bad word here. Even lending is important when it too relates to real
things like houses and companies building products.
>
>
>
> I think the disconnect is when real products and people are
abstracted out of the financial world, when we're building bundles of
loans, slicing and dicing, and nothing real in sight. Or when we are
trading in currencies.
>
>
>
> Big is different too, distorting markets and dangerous if they fail.
>
>
>
> As much as we hate them, regulations are important. But they are
very hard to manage, and with the global economy, they need to be
balanced world wide. And we don't really know which ones will really
build the right incentives.
>
>
>
> We have, however, just learned by experiments gone wrong, that
letting banks also be insurers is a mistake. And that banks and
companies are too large, they distort the economy, and worse, need
rescuing when they err.
>
>
>
> So yes, let the financial dictator fail next. Now lets figure out how!
>
>
>
> -- Owen
>
>
> ============================================================
>
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>
> Meets Fridays 9a-11:30 at cafe at St. John's College
>
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>
> --
>
>
>
> "Sunlight is the best disinfectant."
>
>
>
> -- Supreme Court Justice Louis D. Brandeis, 1913.
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