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Charlie Stross, Paul Krugman Discuss the Future
Peripatetic Entrepreneur writes "At the Science Fiction World Convention in Montreal, Hugo Award winning author Charlie Stross and Nobel Prize winning economist Paul Krugman opened the show with a 75-minute, wide-ranging conversation on stage. From flying cars to decoding the genome of the Pacific Ocean to vat-grown Long Pig, it's all there. Audio is also available — video soon."
neither did anyone investing in the market that lost any money. the ability to predict market crashes has little to do with predicting things over the long term. the market recovers and people move on. the real reason why predictions of the future are more often wrong than not is because people have a tendency to expect what they think is interesting [flying cars] rather than anything of practical use. if you want an accurate prediction make one that is the result of several small practical steps away from what exists now. for example; I predict that hybrid cars [or some offshoot of them] will make up a majority of cars within 50 years. not a very exciting prediction but it's probably more accurate than expecting flying cars any time soon.
Sigs are too short to say anything truly profound so read the above post instead.
actually, everyone who was in the market knew it was a bubble. the only thing they didn't know was when it would burst. everyone stays in hoping to cash out before it bursts. anyone who was predicting that housing wasn't a bubble was either lying or he is a charlatan.
Any guest worker system is indistinguishable from indentured servitude.
"I'll say this though: most libertarian economists warn about the dangers of governments using policy to direct economic matters."
But that's a political point of view right there. It's akin to saying that Sector X of the economy (where X in this case == banking) should be above the law. Why? Well... just because we say so! It's our axiom that GOVERNMENT == BAD and FINANCE == GOOD!
Both government and finance are means of social control - and neither come from Mars but both execute with the consent of the people, and as the means of implementing the people's will. It's also valid to say that finance should not control people's lives any more than government should.
Do libertarian economists warn against the dangers of financial speculation wasting resources and causing gross mismanagement? But they should, if they're going to be honest. Economists should be both apolitical and afinancial.
However, "libertarians" often seem to have a huge blind spot when it comes to money. They seem to think that money is a self-justifying power base which can do no wrong, unlike those evil Gubmint bureaucrats. But greed and power is greed and power no matter what the label on the suit.
You are not a brain: http://books.google.com/books?id=2oV61CeDx-YC