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The entire field of Law (A) and Economics (B) must have a topos structure f: BxA -> Ω, etc, with the efficiency criteria being the terminal object S->B; S->1; B->Ω. Since market mechanisms may not apply here, we can use the theory of Firm (e.g transaction costs) to establish a different criteria. Actually, such a topos would work with any mechanism for establishing an efficiency criteria. For now, we can assume that it's exogenous.

upd. I wonder whether it's even theoretically possible to have market-efficient healthcare laws. Singapore would probably make an interesting test case.
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Source: https://doi.org/10.1093/gerona/glt162

Heterogeneity in Healthy Aging
David J. Lowsky, S. Jay Olshansky, Jay Bhattacharya, Dana P. Goldman, 2013
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По-хорошему, надо переписывать всю теорию институтов в терминах теории категорий. Может, получится просто объяснить/предсказать успешность азиатской модели капитализма без выборной демократии.

... biz entrepreneur rights vs consumer rights vs civil rights.
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It appears that as a result of the 2016 elections American social anthropologists discovered a major human tribe in the middle of a highly industrialized country. http://thenewpress.com/books/strangers-their-own-land
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."

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After working on Subjobject Classifier diagrams, I think I understand the meaning of Make America Great Again. Essentially, it calls for the reestablishment of the old set of Social Norms as the terminal object.

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.
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Влад был прав; с функторами все гораздо лучше получается.





p.s. все-таки теория категорий это гениальное изобретение.
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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.
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...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.
http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1993/north-lecture.html
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... short Norwegian men aged 40-59 at risk between 1963 and 1979 were much more likely to die than tall men. Indeed, the risk of mortality for men with heights of 165 cm (65.0 inches) was on average 71 percent greater than that of men who measure 182.5 cm (71.9 inches).

-- Robert W. Fogel. Nobel Prize Lecture. 1993.




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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/10.1080/13688804.2014.955840

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.

Oops!

Mar. 2nd, 2017 01:42 pm
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In a statement on Thursday, Amazon said an employee on its S3 team was working on an issue with the billing system and meant to take a small number of servers offline -- but they incorrectly entered the command and removed a much larger set of servers.
...
According to Synergy Research Group, AWS owns 40% of the cloud services market, meaning it's responsible for the operability of large swaths of popular websites.

http://money.cnn.com/2017/03/02/technology/amazon-s3-outage-human-error/
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Top five gasoline consuming states, 2015

StateMillion barrels/dayMillion gallons/dayShare of total U.S. consumption
California0.9339.1411%
Texas0.9037.7910%
Florida0.4920.526%
New York0.3615.034%
Illinois0.3113.054%

Source: U.S. Energy Information Administration, Petroleum and Other Liquids—Prime Supplier Sales Volumes, as of November 17, 2016



Texas is a net producer of petroleum products; California (as well as China) is a net consumer of petroleum products. My bet would be that California and China will come up with a way to reduce petroleum consumption. The self-driving car technology is one of them.
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Another good graphic from "A history of commerce, 1907" - before and after the age of explorers (mid-15th century).



Geographic discoveries of the 15th century provided another incentive for the Northern Europeans to break away from Catholicism:
The non-Christian world was divided between these two powers by a papal decree which gave to Portugal Africa and Asia except the Philippines and to Spain the Americas except Brazil. So long as other European states obeyed papal authority and feared the might of Spain and Portugal, they were bound to respect this division and the first period of discoveries was followed by a series of voyages carried on especially by English and Dutch seeking a passage northeast or northwest through Arctic seas that would enable them to evade the monopoly granted by the Pope.

Major inventions of the 17th and 18th centuries: log and chronometer:
The simple means of the later Middle Ages could give some idea of a vessel's latitude but very little of its longitude. The introduction of the log in the seventeenth century enabled a sailor to measure distance traversed more accurately and the invention of the chronometer in the eighteenth century gave at last a reliable and practical means of determining longitude at sea.
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Over the last 60 years, Asia absorbed an enormous amount of technology transfer from the US. Moreover, they are now capable of technology development themselves. By contrast, Germany does very little technology transfer to the rest of the world. Their education system is geared toward internal absorption, rather than export.
When it gets down to it — talking trade balances here — once we've brain-drained all our technology into other countries, once things have evened out, they're making cars in Bolivia and microwave ovens in Tadzhikistan and selling them here — once our edge in natural resources has been made irrelevant by giant Hong Kong ships and dirigibles that can ship North Dakota all the way to New Zealand for a nickel — once the Invisible Hand has taken away all those historical inequities and smeared them out into a broad global layer of what a Pakistani brickmaker would consider to be prosperity — y'know what? There's only four things we do better than anyone else:
music
movies
microcode (software)
high-speed pizza delivery

― Neal Stephenson, Snow Crash. 1992.

TIL

Feb. 19th, 2017 05:26 pm
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During the times of Augustus and Tiberius, the Romans paid 1% sales tax to support the empire's military expenditures.
When the people of Rome asked for a remission of the one per cent. tax on all saleable commodities, Tiberius declared by edict "that the military exchequer depended on that branch of revenue, and, further, that the State was unequal to the burden, unless the twentieth year of service were to be that of the veteran's discharge.

http://classics.mit.edu/Tacitus/annals.mb.txt
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Here's what Robert Shiller wrote a month ago about the recent stock market gains:
In the US, two illusions have been important recently in financial markets. One is the carefully nurtured perception that President-elect Donald Trump is a business genius who can apply his deal-making skills to make America great again.

The other is a naturally occurring illusion: the proximity of Dow 20,000. The Dow Jones Industrial Average has been above 19,000 since November, and countless news stories have focused on its flirtation with the 20,000 barrier – which might be crossed by the time this commentary is published. Whatever happens, Dow 20,000 will still have a psychological impact on markets.
....
But these numbers are illusory. The US has a policy of overall inflation. The US Federal Reserve has set an inflation “objective” of 2% in terms of the personal consumption expenditure deflator. This means all prices should tend to go up by about 2% per year, or 22% per decade.

The Dow is up only 19% in real (inflation-adjusted) terms since 2000. A 19% increase in 17 years is underwhelming, and the national home price index that Case and I created is still 16% below its 2006 peak in real terms. But hardly anyone focuses on these inflation-corrected numbers.

https://www.theguardian.com/business/2017/jan/19/trump-us-markets-illusion-dow-jones

Real productivity is growing slowly and the problem is masked by financial markets. For example, building a $20B wall on the Mexican border will add to the GDP and increase commodity prices, but it will not contribute to long-term productivity growth.
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I advance the hypothesis here that technical change in general can be ascribed to experience, that it is the very activity of production which gives rise to problems for which favorable responses are selected over time.
...
I therefore take instead cumulative gross investment (cumulative production of capital goods) as an index of experience. Each new machine produced and put into use is capable of changing the environment in which production takes place, so that learning is taking p!ace with continually new stimuli. This at least makes plausible the possibility of continued learning in the sense, here, of a steady rate of growth in productivity.

The Economic Implications of Learning by Doing
Author(s): Kenneth J. Arrow
Source: The Review of Economic Studies, Vol. 29, No. 3 (Jun., 1962), pp. 155-173
http://www.jstor.org/stable/2295952


Also see ENDOCENOUS TECHNOLOGICAL CHANGE, by Paul M. Romer.
The distinguishing feature of the technology as an input is that it is neither a conventional good nor a public good; it is a non-rival, partially excludable good.

The main conclusions are that the stock of human capital determines the rate of growth, that too little human capital is devoted to research in equilibrium, that integration into world markets will increase growth rates, and that having a large population is not sufficient to generate growth.
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Studies suggest financial decision-making ability tends to reach its peak in a person’s mid-50s, after when deterioration sets in.
...
The older brain seems more susceptible to “too good to be true” scams, from lotteries to dating schemes. According to the “Scams Team” at Britain’s National Trading Standards, a consumer-protection body, the average age of victims of mass-marketing scams is 75.

http://www.economist.com/news/business-and-finance/21716598-banks-need-strategies-helping-vulnerable-elderly-customers-elderly

I wonder how the world is going to deal with aging decision-makers.

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