[ExI] AIG Bail out

[Max More]

Damien--the stock exchanges DO have such mechanisms in place, 
precisely to constrain dangerous feedback loops. (They were put in 
place, however, not by "elected deputies" but by stock exchange 
executives.) I think a very interesting, important, and difficult 
question is how those constraints might be improved in some systematic way.

Eric Bonabeau has some interesting thoughts on this issue in his 
article, "The Perils of the Imitation Age" (from the business 
person's perspective). My review is here:
http://www.manyworlds.com/exploreco.aspx?coid=CO61041235546

Max

At 03:01 AM 9/21/2008, Damien wrote:
>At 05:32 PM 9/21/2008 +1000, Stathis wrote:
>
>This need not mean, I'd have thought, that in a representative 
>democracy the elected deputies might not, for example, place severe 
>constraints on mindless computerized trading than is easily trapped 
>into positive feedback disaster, not to mention placing equally 
>savage constraints on corporate monoliths that specifically block 
>the action of those many agents whose distributed crowd/cloud wisdom 
>is supposed to be tapped by the market.


Max More, Ph.D.
Strategic Philosopher
www.maxmore.com
max at maxmore.com