- The economy is not chiefly an incentive system, but an information system. It requires a reliable standard of value rooted in the irreversibility of time.
Post by twetch#22134
- You mention Thermodynamics, I like that, I also think fluid mechanics might be a good way to understand economics as well. I've been thinking for some time about how to put together the proper modeling to prove what you are eluding to.
What the chain says
- Block
- 631 747
- Time
- 2020-04-22T15:22:55Z
- Signer
- 1H22SNmXMN9fM6rj9TPquu6GTT1NdLUhnY
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#22134
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1H22SNmXMN9fM6rj9TPquu6GTT1NdLUhnY VerifiedReplies (6)
- Mainly that the government manipulating the currency is the root of most issues we all face as citizens. It distorts markets, pervert incentives, and misallocates resources. The net effect is to raise wealth and income among the least productive.
power cannot order wealth—new knowledge—into being
True, but power can reset the rules so that true wealth is not rewarded. Instead, the new game is collecting tokens they create, so new knowledge is swept into the machine because it provides leverage in the same way deposits create leverage in banking
Wealth is knowledge gained from falsifiable economic experiments. The outcome is measured by money.
- And does so at the expense of the average citizen. All of this is anecdotally obvious to anyone that cares to look. But to prove it with modeling that can duplicate actual results would show definitively that this process is real and destructive.