Meh. The current isn't broken because it has gone down an enormous amount. In fact, it may have broken because it was so high! BC was heavily influenced by the speculators and investors. I think that a much lower price much more accurately reflects the number of people who believe they are likely to use it.
Interesting macro-economic insight and thesis. Very interesting design of a publication (almost certainly the most beautiful economic text I've ever read). I'll bet complexity is really just a proxy for a bunch of other things, but I doubt the authors would really disagree.
"Benkler attributes their success to ways they have found to assure contributors that when you produce you will be able to control what you produce. Cash doesn’t change hands. The challenge is to learn about human collaboration in general from these web-based examples. In Benkler’s words “replacing Leviathan with a collaborative system.â€"
Word. I knew how to get around the NYT paywall and happily bought a subscription. As the author suggests, I like being treated as an adult.
I find something a bit problematic about this experiment.
A parody book review? A parody book?
"Credit is a sacred trust, it’s what our free society is founded on. Do you think they give a damn about their bills in Russia? I said, do you think they give a damn about their bills in Russia?"
Check out the Reducing Inequality post which were recently featured on Crooked Timber. Recommended reading.
Oliver is in my cohort at MIT! Congrats on the profile!
Assembling a phone in the US is not much more expensive because labor costs are a small part of phones.
Nice orgtheory argument about what makes for a good theory about how to tell/test.
