From The Austrians and the Swan: Birds of a Different Feather by Mark Spitznagel: To the Austrians, the [economic] process is decidedly non-random, but operates (though in a non-deterministic way, of course) under the incentives of entrepreneurial “error-correction” in the economy. In a never ending series of steps, entrepreneurs homeostatically correct natural market “maladjustments” (as… Continue reading The Austrians and the Swan: Birds of a Different Feather by Mark Spitznagel
The Big Short book reads like a behind the scenes telling of the movie (Steve Carroll was awesome). It still seems too fantastic to be true. Lewis captured a kind of “fantastical” element in his retelling of… a financial story. So that’s pretty impressive. Below are my Kindle notes and highlights, exported with Bookcision.
When I was a kid, my dad told me the parable of the first physician to realize you should maybe mothers would not suffer quite so many horrifying deaths if doctors washed their hands between autopsies and childbirth. Unfortunately this doctor was an asshole, so everyone ignored him. He eventually went crazy from the stress of knowing so many women were being killed by their doctors, and died in a mental hospital. And that is why we don’t dismiss ideas just because they come from crazy assholes, no matter how much we want to.
But there was another part of the story I knew but hadn’t considered; the autopsies that were contaminating doctors were being done in pursuit of curing childbed fever. The infection was spread by examinations meant to teach students. The very things doctors were doing to cure women were hurting them. Over the medium term, everyone would have been better of if they’d stopped trying. I find this terrifying.
Ignac Semmelweiss, via Aceso Under Glass
The incorrect assumption here is that humans and technology were ever separate to begin with. Tech is an extension of human cognition and intelligence, not some external reality that is independent of humans. The only thing changing is the mode in which we interface with the tech.