The world’s complexity is a symptom of economic success, but it can pose serious risksThe Financial Times Magazine
So many numbers, so little time
Tim Harford
Also here if you have trouble with FT's paywall.
The world’s complexity is a symptom of economic success, but it can pose serious risksThe Financial Times Magazine
3 comments:
Most of the complexity affecting the current economy is manufactured complexity, in the form of financial engineering that is systematically extracting wealth from all but a very few of the citizens.
The fundamental "machine" underlying the economy is quite simple and requires no special understanding.
None of these complex financial Rube-Goldbergs moves NET funds to the pockets of consumers. It's a one-way street.
As such we can expect a result similar to a simple hourglass or the proverbial bucket with a hole in it.
If we don't fix this nothing else we try will be able to get traction.
What good is all of the discussion about accounting and stock-flow consistency if it can't be used to demonstrate this simple reality?
We have become obsessed with semantics and definitions and abandoned any pretense of trying to actually solve real problems.
Is it possible to enable an edit function on this blog?
Is it possible to enable an edit function on this blog?
As far as I can see, the only edit function is through preview. After you hit publish, you have to delete and re-do to edit. Which happens to me fairly often :(
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