This Varafoukis Lecture on The Nature of Money was brought to mind today after watching a more recent interview he gave to a French interview channel in February 2019, recommended to me by a French friend today.
In the second one He is asked to explain the Exponential Function. @ 24.08 income was around 55 trillion just say
55 there are too many zeros to worry
about 55 the total size of financial
derivatives was 70 okay so total income
another world 55
total derivatives 70 2007 exponential
growth okay this is this global income
had risen because of globalization from
55 to 70 from in six years as a lot from
55 to 70 growth in the size magnitude
volume of the river
others from 70 to 780 sooo nice so to
put it bluntly planet Earth was not big
enough for this bubble say burst in 2008
Steve Keen A good friend of Varafoukis has published and been linked to here on the Physiocrats and the Energy aspects of the Economic System.
The point is though that it’s not only about Energy qua energy.
Which brings me to Dominic Cummings?
I actually read all of the linked-to papers and blogs,
After the whole exercise I have more doubts about Dominic Cummings before I started, The Un-necessary, “I will bin you”, machismo is rather off-putting.
This Talk on the Edge web site is very good, Cummings would do well to watch it and internalise the ideas.
This is a very good video on Di-Electric Magnetism, now this guy is a proper misfit. What’s more, he is I think very close to scientific truth as we would get to, absent vested interests.
Smolin really is onto something as is this man.
MR CUMMINGS’ BOLD ENDEAVOUR
As we’ve been discussing here, Dominic Cummings, senior policy advisor to British premier Boris Johnson, has issued a clarion call for “data scientists, project managers, policy experts, assorted weirdos” and others to join an effort to transform the workings of government.
Here is how Mr Cummings defines his objectives:
“We want to improve performance and make me much less important — and within a year largely redundant. At the moment I have to make decisions well outside what Charlie Munger calls my ‘circle of competence’ and we do not have the sort of expertise supporting the PM and ministers that is needed. This must change fast so we can properly serve the public”.
Let me start by making two points about this initiative. The first is to commend Mr Cummings for taking it. New thinking is needed as never before in government, not just in…
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