[LINK] Some scary stuff

[Chirgwin, Richard]

Brendan, 

Nonsense! This is clearly a case where neo-classical market economics break
down. Instead, we should return to Marxist theories for the explanation.

First, look at the unstable oligarchy known as the "ego". We're clearly
seeing what amounts to the first stirrings of a revolution. Bernard's ego
wishes, or believes to wish, to remember the phone number. However, that
desire is clearly running against the interests of the masses; they revolt,
and instead subvert the oligarchy by inserting irrelevant memories (for
example pop songs) into properties once held by the oligarchy.

The proleteriat is at the gates of St Petersburg, Bernard. I'm afraid your
descent into chaos is now a historical certainty; kick back and relax,
though, because after a period of a totalitarian forebrain, you will return
to a more democractic state.

Market solutions indeed!

rc

> -----Original Message-----
> From: bscott@gtlaw.com.au [mailto:bscott@gtlaw.com.au]
> Sent: Friday, 29 November 2002 12:20
> To: Ralph Seberry
> Cc: Link; link-bounces@anu.edu.au
> Subject: Re: [LINK] Some scary stuff
> 
> 
> 
> > On Friday, 29 Nov 2002 at 10:57, bscott@gtlaw.com.au
> <bscott@gtlaw.com.au> wrote:
> > >
> > The conclusion is wrong becuase you assumed that bernard's brain
> > is an efficient market. When he was young, his brain was an 
> efficient
> > market, and new memories and ideas were able to take root. Now his
> > brain has a high barrier to entry for new memories, Even a 
> vital phone
> > number.
> >
> > We can conclude that bernard['s brain] is inefficient and resistant
> > to new ideas.
> 
> I see you're setting the groundwork for advocating an interventionist
> policy.  My view would be that similar things have been tried 
> in the past
> and have done more harm than good.  I think you will find that any
> *apparent* inefficiencies have already been priced into the 
> market in a
> manner which is optimal for Bernard.  While it might appear that the
> importance of some memories have been ridiculously inflated 
> (particularly
> in the period 1998-2000) well beyond any that ought to be 
> given to them by
> any sane thinking individual, this is really just an illusion and the
> invisible hand of the market is moving them inexorably and 
> efficiently to a
> position where Bernard's utility is maximised (or maximized 
> if you're of
> the Chicago School).
> 
> It's time for the rest of us to get the hell out of Bernard's 
> head and to
> keep out.  God knows what sort of long term damage 
> intervention has already
> done.  When he's ready for it the market will remember his 
> wife's number
> for him, until then we shouldn't be going about picking winners and
> distorting the operation of that market - who knows what 
> other important
> stuff he'd forget (or unimportant stuff he'd remember) as a 
> consequence.
> 
> > > You will just have to tell your wife, that deep down in 
> your heart of
> > > hearts, you care more about old pop songs than about 
> getting in contact
> > > with her.
> >
> > But how will he contact her?
> 
> You don't get it do you?  Leave that to the market to sort out.
> 
> Brendan
> 
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