by trod1234 | 2025-04-06 21:30:36+00:00
This opinion is hopelessly based in magical thinking not taking into account many things which have been well established since the early 1900s.

Its mindless garbage like this that fuels the waste, and other great delusions held by the public today.

Value is Subjective. That means it changes for each person, in each circumstance.

Ordinals != Math. They are inequalities at best. You can never prove X = Y with just X < Y.

Computation, absent a few niche areas require problems to be formulated deterministically. That means a unique set of inputs, and a unique set of outputs. If you get an input that has two hidden underlying states, this fails.

The environment of this problem domain is a stochastic environment, that means chaotic; mathematically.

It cannot be measured in any detail except in retrospect as a lagging indicator, and it neglects psychological aspects, and the resulting dynamics that prey on people when money printing is used (i.e. fiat currency).

> Of course this would require something like a rich country providing grants ....

There is no amount of grant money in the world that can do what you claim, it matters not that it is 1 year, 10, or even given over 1000 years. The underlying laws don't change.

The economic boom bust cycle causes are well known and documented in banking. People just don't want to listen to experts, and evil bankers have a vested interest in discrediting those that would speak out.

Being complacent, mistaking your average dunning kruger for an expert in an echo chamber, that's the level of thinking today for the vast majority of people, and I don't see this post as being any different. Three books is all you'd need to read to know about all of this.

The bust part of the cycle is the objective shortfall between productive labor and unproductive labor as losses get marked down. In other words if you loan out money to people whose intention and ability are not production, but instead fraud or other snake oil, then you have these happen. What goes up, must come down.

Inflating the currency with an exponential amount of money printed calling it liquidity, will stave off the issue for another 8-10 years or so, with diminishing returns each time and there is a hard limit based in the fundamental requirements for an economy to operate, going back to 1776 Wealth of Nations.

Producers must make a profit to continue operating. Labor providers must be paid sufficiently to support their needs, and the needs of a Wife, and 3 children; sufficient for 1 to live to have children themselves.

The latter is dependent on the former. The money spent by each party travels in a circle unless something breaks that balance. If that happens it stalls, money loses its fundamental properties (when its fiat), and with population above a certain scale you may get socio-economic collapse, which is a slow circling the drain chaotically.

Prior to the 1970s the gold and precious metals safeguarded society from going off the rails in giving money to people who instead of producing something just enriched themselves. Every time fiat was tried, by either fractional reserve with poor regulation, or no fractional reserve at all (as we have a/o 2020), it has failed. Coolidge walking back banking, and not bailing the banks out is what led to the Great Depression.

Productive activity fell because farmers couldn't plant their crops because loans weren't available; the rural banks overextended themselves and went bottom up. It contagioned all the way culiminating the the Wall Street crash, and the socialism that followed only made it worse.

Today the GSIBs are in the same situation, with no one to bail them out.

I'd highly suggest you actually do something about correcting the shortfall in education, much of this you should know by middle school if you received a proper education.