I think this might be of interest for FISers too. ---P.
Original Message
Subject:Fw: [bisc-group] The Curse of Efficiency
Date: Wed, 3 Jul 2013 09:45:41 +0800
From: 赵川
To: Pedro C. Marijuan , Joseph Brenner
, Mihir-work
lets share this reflection idea of Zade
I think this might be of interest for FISers too. ---P.
Original Message
Subject:Fw: [bisc-group] The Curse of Efficiency
Date: Wed, 3 Jul 2013 09:45:41 +0800
From: 赵川
To: Pedro C. Marijuan , Joseph Brenner
, Mihir-work
lets share this reflection idea of Zade
Professor Zadeh's meaning of 'efficiency increase' is cost-cutting. It is
interesting to note that in one area this would be impossible -- the
construction of infrastructure like bridges, tunnels, etc. This is one
area where efficiency increases would largely be impossible, and so that
function n
Thank you, Stan. I think you are right, but there is also another aspect
that should be considered.
C. H. Waddington discussed it in his last book "Tools for Thought":
"*The financial system is such that people are compelled to discount (i.e.
neglect) future, at a rate, which is an inverse of an e
