[ExI] AIG Bail out
Max More
max at maxmore.com
Sun Sep 21 16:30:58 UTC 2008
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
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