timelets: (Default)
This is a good way to make a visual comparison between two different transportation systems: the familiar and unfamiliar side by side.

Source: A History of Commerce, by Clive Day. 1907.
The right to a wrecked ship which had once been the prerogative of the king could be distorted so that the whole cargo of a Regensburg ship was confiscated in 1396 because a single little cask had fallen off into the Danube It was an accepted rule in Germany that if a wagon broke down so that the axle touched the ground it became a part of the land and belonged to the lord of the territory break downs must have been frequent in view of the wrecked condition of the roads and it has been suggested that lords sought to cause them by traps and pitfalls.

upd: another great quote showing how people perceived their time before movies, radio, TV, internet, mobile, social, etc... (the book was written in beginning of the 20th century):
The fairs always attracted people for social as well as business purposes life in the Middle Ages would be regarded as insufferably dull at the present time and both townspeople and country people enjoyed the excitement which the fair brought with it There were side shows in plenty then.
timelets: (Default)
He [the Prime Minister of Singapore] added that both countries were also discussing new areas of cooperation, such a how Singapore can support China's One Belt One Road initiative.

Mr Lee said both governments met regularly through the Joint Council for Bilateral Cooperation (JCBC) meeting, the highest-level forum between China and Singapore, "in order to review our projects and discuss what more we can do together".
China is Singapore's biggest trading partner, and Singapore is China's biggest source of foreign investments.
Noting that the US had been a good partner for Singapore for many years, he said that Singaporean would have to watch carefully what policies the new US administration pursues domestically and internationally.

timelets: (Default)
Осмысленным вопросом про важные изменения в мире может быть, например, такой: Какая новая инфраструктура возникла в мире в течение жизни поколений людей, которых мы лично знали и знаем.

- Электросети
- Телефонные сети
- Банковские платежи
– Global investment banking, including venture funds
- Интернет
- Скоростные шоссе (freeways, autobans)
- Радио
- Телевидение
- Спутниковая связь
- Спутниковая навигация (GPS)
- Контейнеровые морские перевозки
- Газо- и нефтепроводы
- Система авиационных перевозок
- Мобильная связь

Что еще?
timelets: (Default)
Most information is not generally available; it is endogenous to some particular individual. The implication is that social coordination benefits rom InstItutional structures that encourage the use of endogenous informitIon; that is, those structures that 'provide inducements which will make individuals do the desirable things without anyone having to tell them what to do' (Hayek [1945] 1949: 88); a second implication is that endogenous knowledge makes any ex post appraisal of past decisions difficult, because only the decision-maker is ever in a position to know what he knew.

ibid. p. 45

Prosperity derives from profits earned by those who 'discover ew ways of doing things better than they have been done before' (Hayek [1946J 1949: 101), Bankruptcies are important to processes of discovery in which efficiency and ingenuity are tested in open competition.

p. 45-46


timelets: (Default)

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