"System change is now inevitable. Either because we do something about it, or because we will be hit by climate change. '...

"We need to develop economic models that are fit for purpose. The current economic frameworks, the ones that dominate our governments, these frameworks... the current economic frameworks, the neoclassical, the market frameworks, can deal with small changes. It can tell you the difference, if a sock company puts up the price of socks, what the demand for socks will be. It cannot tell you about the sorts of system level changes we are talking about here. We would not use an understanding of laminar flow in fluid dynamics to understand turbulent flow. So why is it we are using marginal economics, small incremental change economics, to understand system level changes?"

Sunday, September 1, 2013

Paranoia

Most paranoia is misplaced.

Well, all of it, really, by definition.

There's paranoia cutting every which way these days.

It's my impression that excessive demonization cuts every which way here. We are all human, fallible, vulnerable and defensive about ourselves, and suspicious of others who may not deserve it or only partially deserve it.

Not to say there aren't real bad actors out there. Obviously there are. But there are costs to false positives and false negatives alike.

mt

(No place for this on P3, but I need it on the web somewhere.)

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