Quoting Gilder's book preview "Average American households incomes and net worth..."
Gilder's ignorance of the importance of median (or even mode) as opposed to average of these variables might be written off as a mere mental typo were it not for the fact that choosing average over median (or even mode) favors the further centralization of wealth that he was a party to under supply side economics -- a policy that not only contributed to the destruction of the middle class but also to the demographic collapse of the Nation of Settlers in the US. That demographic collapse is prosecutable as genocide. On Wed, Aug 5, 2015 at 10:12 AM, James Bowery <jabow...@gmail.com> wrote: > Quoting Gilder's book preview "Wealth is created by learning curves that > result from millions of falsifiable experiments in entrepreneurship..." > > Gilder's attempt to impress us with his ability to pedantically parrot > Popperian dogma confuses "experiment" with "hypothesis". > > On Wed, Aug 5, 2015 at 9:57 AM, James Bowery <jabow...@gmail.com> wrote: > >> Quoting Gilder's book preview "In economist Milton Friedman’s famous >> equation MV=PT..." >> >> Gilder should learn to use Wikipedia: >> >> https://en.wikipedia.org/wiki/Irving_Fisher#Monetary_economics >> >> On Wed, Aug 5, 2015 at 7:53 AM, James Bowery <jabow...@gmail.com> wrote: >> >>> Gilder's ideas in this latest book may be fresh, but his career is far >>> from it -- including some very stale ideas such as "supply side economics" >>> (which even some of its major proponents eventually admitted was >>> destructive to the middle class that Gilder supposedly championed from his >>> early days as an author) and being a major participant in the DotCon era >>> bubble. >>> >>> On Wed, Aug 5, 2015 at 3:20 AM, Mats Lewan <m...@matslewan.se> wrote: >>> >>>> I’ve always had doubts about economists understanding of how technology >>>> influences and changes the world and the society over time, and >>>> consequently also its financial and monetary realities. >>>> >>>> >>>> >>>> Renowned economist and author, George Gilde, has written the book *‘A >>>> 21st Century Case for Gold: A New Information Theory of Money’*, which >>>> is discussed by Ray Kurzweil in this piece: >>>> >>>> >>>> >>>> >>>> http://www.kurzweilai.net/ask-ray-renowned-economist-and-author-george-gilders-new-information-theory-of-money >>>> >>>> >>>> >>>> I think it brings out some fresh ideas on the failure of established >>>> economic theory. >>>> >>>> >>>> >>>> Personally I’m particularly interested in the aspect of Bitcoin with a >>>> fixed amount of money supply, making it similar to gold. Potentially this >>>> could be an important feature if the value of human work drops to zero >>>> through automation and the value of products and services falls drastically >>>> for the same reason. It could be what makes Bitcoin or some similarly >>>> designed crypto currency a winner. >>>> >>>> >>>> >>>> Note that Kurzweil points out to Gilde that supply of gold is not >>>> guaranteed to remain fixed, in the prospect of efficient transmutation >>>> technology. A refined algorithmic crypto currency might be more >>>> future-proof, although, as Kurzweil writes: *“I have concerns about >>>> the validity of bitcoin’s mining algorithm, and the extent to which this >>>> can ultimately be algorithmically subverted.”* >>>> >>>> >>>> >>>> >>>> >>>> Mats >>>> >>>> www.animpossibleinvention.com >>>> >>>> >>>> >>>> >>>> >>> >>> >> >
