Wan Wei Lin: Money in a fire proof safe at home is getting the same interest as the bank for the most part plus it’s available 24/7. Security and accessibility have more value than interest these days.
Kirk: Hmmmm… Lemme see: Interest rates have been damn near zero for how long, now? And, the benefit to saving is…? The wonder isn’t that these people aren’t saving money in the banks, the wonder is that anyone is saving money anywhere in the economy. I sometimes wonder if these genius types making these pronouncements have the brain power to get out of their own way, walking through doors. It sure doesn’t seem that way, listening to them pronounce “wisdom” on...
Rollory: “I think it is hard to tell a story that explains that in terms of rational behavior” I think it is far more likely that Mr. Kling has simply failed to grasp something very basic.
Alrenous: So, valuing status highly. See also: cognitive transaction costs.
Bruce: The vikings started overfishing the cod harvest in the Baltic a thousand years ago. As the cod moved to the Grand Banks,the cod fleets got huge and went from round ships to tall ships. Thousands of ships from Portugal to the Basque to the British Isles to the Basque and Dutch and Germans and Scandinavians. Western Europe is one long lee shore- ships that can sail there can sail anywhere in the world. Hundreds of thousands of skilled sailors, millions of disposable proles who could be trained by...
Nose Picker: Wasn’t this actually the basis of an entire episode of the series “The Ascent of Man”? Let me go look up the episode name… Episode 8, “The Drive to Power” which talks about the Lunar Society in England (and Ben Franklin’s association with that whole movement), and the practical, individualistic spirit of the Industrial Revolution. But anyway, isn’t this the premise of all the hard science fiction authors?
Gaikokumaniakku: Correction: Everyone is effectively REQUIRED to carry a CIA-rooted listening device in his or her pocket and be ready to answer it when it rings. (You have read the latest from Wikileaks regarding iPhones, of course…) High tech has empowered the elites. The masses just pay for it.
Grasspunk: This misses so much darts culture! The lack of mention of treble-20 is a bit triggering, too.
Wang Weilin: Candide, I agree. Teach a good process and you get good results. The basis of Demming’s SPC.
Candide III: So the takeaway is that, when teaching a non-trivial skill, it’s better to teach the skill’s mechanics than to expect the learners to figure it out by themselves. Who da thunk it!