Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Sunday, June 30, 2013

Consider the Hydra

The hydra (ὕδρα) is a polycephalic reptile native to Lake Lerna in Greece. The number of heads common to this species has been variously reported as five, seven, nine, or a hundred (the last known sighting of a hydra occurred more than three milennia ago, by a certain Heracles (a notable wildlife enthusiast of the day) so any knowledge we have of this creature has suffered from the Chinese whispers of time). Nonetheless, all accounts agree that the hydra regrows two heads for each one cut off, and has poisonous breath and blood.

Due to the overcompensatory nature of its response to trauma, Nassim Taleb has elected the hydra as the symbolic beast of antifragility. It roams the sands of Extremistan indifferent to danger, impervious to harm. The one known Black Swan for the hydra is cauterisation, so it seems the hydra has no natural predators. Yet it is not even sure that the hydra will survive the Blank Swan of my writing.

Sunday, October 31, 2010

Green Leopards and Purple Wages

I recently read an article about the future of the economy. The writer believes we are headed towards/already in a post-scarcity society, in which money loses its value because almost everything is available for free. Although the state of affairs predicted is contingent on material surplus of the kind granted by mythical cornucopias, it could occur within this century.

A similar scenario is envisaged in the Hugo Award winning novella Riders of the Purple Wage, which was prompted by the 1964 "Triple Revolution" memo. Citizens are entitled by birth to salaries from the government, so work is unnecessary. This leads to the elevation of art in society, presumably because otherwise-unemployed people partake in creative activities.