There should be a name for this syndrome of believing "if we built it, we must be the center of it." "Built" does a lot of work in the conceited relationship of humans to the "built" environment they merely had a small role in catalyzing the emergence of.
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Financialization would actually be a good thing if it included almost everybody in its logic, and encoded what everybody knows about the system. It’s currently terrible because it reflects a tiny minority view of how the world works. A bunch of 0.1% idiots trading green lumber.
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Definitely agree with this idea (although how to stop the black market exchange rate?). How do we decouple the information processing and resource allocation apparatus of markets and prices from the currency of survival?
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Furthermore, if the market is implementing Darwinian search for good capital allocation, perhaps we should increase the rate of selection (and even the noise/variation) by refreshing the fitness signal (capital allocation) of a broader swath of population through a UBI-like thing
End of conversation
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Proliferation of local currencies and community currencies that settle into larger more institutional currencies is part of where crypto currencies take us soon I think
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Splitting the money supply (along a different axis, but) has been a thing in Cuba for quite a while. It's a corruption machine.
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