Maldacena discovered that the boundary and the bulk are completely equivalent.... the relatively simple, gravity-free equations that prevail on the boundary contain the same information and describe the same physics as the more complex equations that rule the bulk.
“It’s kind of a miraculous thing,” says Van Raamsdonk. Suddenly, he says, Maldacena’s duality gave physicists a way to think about quantum gravity in the bulk without thinking about gravity at all: they just had to look at the equivalent quantum state on the boundary.
== link thanks to lxe
As a side note, I never thought about the equivalence of information and energy wrt entropy. There's a vague analogy here with Hayek's idea that prices convey information. Moreover, we can think about Arrow's technical change hypothesis as two stage process: productive absorption of information (learning curve) and productive absorption of capital (cumulative investment).
The merchant ventures into a different world, obtains a valuable object and sells it to the few who can afford to buy. People hate him for that and tax his unfair profits.
upd. the nature of the goods obtained is different wrt their rival and excludable properties.
D and D-op are linear orders.
Production possibility frontiers
An opportunity cost will usually arise whenever an economic agent chooses between alternative ways of allocating scarce resources. The opportunity cost of such a decision is the value of the next best alternative use of scarce resources. Opportunity cost can be illustrated by using production possibility frontiers (PPFs) which provide a simple, yet powerful tool to illustrate the effects of making an economic choice.
A PPF shows all the possible combinations of two goods, or two options available at one point in time.
Mythica, which is a hypothetical economy, produces only two goods - textbooks and computers. When it uses all of its resources, it can produce five million computers and fifty five million textbooks. In fact, it can produce all the following combinations of computers and books.
|COMPUTERS (m)||TEXTBOOKS (m)|
He suggests that hiring additional female sw engineers and executives hurts Google business performance, but offers no empirical evidence to support the thesis. That is, he shows no effort whatsoever to correlate, e.g. the number of female hires with any kind of business performance indicators, either at a unit or corporate level. Putting forward a thesis without relevant evidence to support it is bad form.
B. On substance.
He claims that on average, women exhibit certain psychological traits, which in his opinion make women less suitable for sw engineering and executive jobs. He doesn't show that Google employee population is representative of the population in general. Even a cursory look at Google employee demographics shows that it is significantly different from the US population at large wrt to sex, age, education attainment, ethnicity, race, etc. In short, he doesn't demonstrate that evidence he cites applies to Google and its employment policies.
Overall, it's a dumb paper, although I'm not sure whether he should've been fired for being out of his depth on business and demographics issues. One can argue that firing him was justified because it prevented resignations of multiple qualified Google employees.
*The original paper can be found here. https://assets.documentcloud.org/
In the context of governance of human–environment interactions, a panacea refers to a blueprint for a single type of governance system (e.g., government ownership, privatization, community property) that is applied to all environmental problems.
Practitioners and scholars who fall into panacea traps falsely assume that all problems of resource governance can be represented by a small set of simple models, because they falsely perceive that the preferences and perceptions of most resource users are the same.
The study of the governance of SESs[social-ecological systems], and of sustainability science more generally (50), is an applied science like medicine and engineering, which aim to find solutions for diverse and complex problems. In diagnosing problems, the applied scientist examines attributes of a problem, layer by layer, and focuses on traits that are thought to be essential in a particular context. When an initial solution is adopted, considerable effort is made to dig deeply into the structure of the problem and to monitor various indicators of the system. On the basis of this information, applied scientists change their actions and learn from failures.
Ostrom, et. al. 2007
Also related http://www.phil.upenn.edu/~weisberg/
...it is now clear that the elaborate organizations that human beings have constructed in the modern world to carry out the work of production and government can only be understood as machinery for coping with the limits of man’s abilities to comprehend and compute in the face of complexity and uncertainty.
Herbert A. Simon. Nobel Prize lecture, Dec 8, 1978.
upd. I wonder whether it's even theoretically possible to have market-efficient healthcare laws. Singapore would probably make an interesting test case.
Strangers in Their Own Land goes beyond the commonplace liberal idea that many on the political right have been duped into voting against their interests. In the right-wing world she explores, Hochschild discovers powerful forces—fear of cultural eclipse, economic decline, perceived government betrayal—which override self-interest, as progressives see it, and help explain the emotional appeal of a candidate like Donald Trump. Hochschild draws on her expert knowledge of the sociology of emotion to help us understand what it feels like to live in “red” America.
As an illustration, a figure from Bostrom's book on Superintelligence. BTW, Bostrom is right that he doesn't use the term "artificial intelligence."
Under the new terminal object created by the Elites, a typical Trump voter finds himself at a disadvantage, both culturally and economically. Furthermore, he can't transfer his values to his children because the values won't work under the new terminal object regime.
The same goes for the more traditional extractive American companies who struggle to cope with globalization and technological change. The steep drop in energy prices in 2014 hit them and their workers really hard. Obama's climate change rhetorics added insult to the injury. It's "us vs the world's elites" now.
Rationality works best, that is, we generally get the kind of results that we want, in a world where the choices are very limited. Now, the reason for that is very simple. When you structure the environment by rules, laws, and tools and techniques, the players are constrained in certain directions. It is the constraints on the actors that help the decision-maker. The more unconstrained the environment, through lack of an effective artifactual structure, the more difficult it is for people to make choices or to implement their choices in effective ways.
--- Douglas C. North. DEALING WITH A NON-ERGODIC WORLD: INSTITUTIONAL ECONOMICS, PROPERTY RIGHTS, AND THE GLOBAL ENVIRONMENT.
...the beliefs that individuals, groups, and societies hold which determine choices are a consequence of learning through time - not just the span of an individual's life or of a generation of a society but the learning embodied in individuals, groups, and societies that is cumulative through time and passed on intergenerationally by the culture of a society.
--- Douglas C. North, Nobel Prize Lecture, 1993.
-- Robert W. Fogel. Nobel Prize Lecture. 1993.
The high prices limited the market to persons of means. However, princes and nobles at first scorned the books produced in quantities and continued to purchase only manuscript copies. The clergy and the lawyers were less reluctant to accept substitute for manuscripts.
But the rapidity with which books came off the presses soon caused a glut on the market, because the reading public was not yet used to the idea that it could afford to buy more books. After eight years of hard, steady work, Sweynheym and Pannartz were caught in the first depression of the book trade with no cash and with all their funds tied up in a large stock of unbound copies. They implored Pope Sixtus IV to aid them, listing their inventory of 12,475 books. They complained that this accumulation crowded their quarters, so that they could scarcely move and even had to beg for their daily bread.
Florence Edler de Roover, New Facets on the Financing and Marketing of Early Printed Books. Bulletin of the Business Historical Society, Vol. 27, No. 4 (Dec., 1953), pp. 222-230. http://www.jstor.org/stable/3110897
Also see http://dx.doi.org/10.1080/13688804.
In the 1960s, there was a similar event in Silicon Valley during the microwave boom and bust cycle when the military suddenly reduced its purchases of radar-related equipment.
In the 1920s, the first bread slicing machines had a similar problem.