Oddbean new post about | logout
 Also, Austrian economists are not omnipotent. 
 ALL YOUR AUSTRIAN MODELS DESTROYED. 
 Fr, tho. 😂

My logistics professor reminded us that models aren't the real world. They're an abstraction of the world. Therefore, they will never align 100% with the world and their predictive power will waver, over time, as factors come into play that were unknown or inadequately accounted for. Like the Corona lockdowns and border controls destroying all logistics planning for years.

We are actually running into the issue of "informed stupidity", where the models become so stuffed full of information and so universally applied, that the benefit of contrary plays is increasing.

You can now have a massive impact upon society with small, simple acts, for instance. The power of individual people to change the course of history is going parabolic. 
 FR FR

My work GM pre covid: no WFH!

now: 2 days WFH

😆 
 oh god yes.  that prof is gold.
 
 Yes, he is. 
 intellectualization of reality is a disease.  people are not numbers a d neither is the world. 
 But don't you think that Bitcoin brings order to chaos, and closer to a higher, more absolute truth? Closer to Tlthe constraints of the laws of physics in the real world?  
 not really.  this isn't a slam against BTC or anything but BTC is a construct created by people.  humans make tools (so do some other animals).  tools are needed for us to make things and concepts are tools for understanding scientifically (not bad).

analogy: I whip out a jackknife to perform a task, when I am done do I leave the jackknife tools all hanging out and walk around with the knife  screwdriver, etc as an interface to reality or do I put the tools away and experience the world with the Mind that isn't tools, doesn't have or need words and just experiences reality?

(I'm responding from having done a ton of Zazen for context since I haven't interacted with you before, so we can keep on the same page.) 
 I think about markets is they aren't rational or efficient. George Soros came up with the idea of reflexivity, the idea that the hype becomes the reality and the reality becomes the hype 
 sure but I don't need George Soros to come up with a theory to know or understand that intuitively without the words.

i think that it's obvious and infers itself in the way things are.

that isn't to say the theory is bad or anything like that.  i personally just don't find theory interesting.

intellectualization and theory are exactly how to get ding a ling a ling from the roshi in the Dokusan (interview) room and fail your koan that time... then you sit again, let it be a question, don't try, you merge with it it and suddenly boom you can say it or do it without theory, intimately in your own way or words.

(i'm not bashing school either, it has its place.  theory is theory.  reality isn't theory because it's real.  and it doesn't stand still so theories fail as time goes along and things change.  imo)

😇 
 bitcoin as a tool is like gold or silver coins or vault deposit receipts or redemption certificates, or shells, or whiskey, or tobacco, a form of money

it is just a better tool than a central bank because it is completely automatic and does not enable privileged rewriting of the record

so it's mainly an error correction in addition to the construct of central bank accounts, and global rather than national

in that respect it is removing privilege from a group who have been using their power to slowly turn our society into Sodom and Gomorrah 
 Fair point.