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Sat Nov 15 07:36:50 UTC 2014  <decimation>   it seems to come down to a question of economics, it's generally cheaper to pay a master craftsman to labor over one item, but if one is building thousands it is worth the start-up cost of the robots

Sat Nov 15 03:44:29 UTC 2014  <thestringpuller>   Which effects the entire MPOE economy.

Fri Nov 14 08:49:04 UTC 2014  <dgeats>   in real estate not by accident, it’s still a major part of the economy

Fri Nov 14 04:41:27 UTC 2014  <mircea_popescu>   desperately needs more "expert" economists and whatnot.

Thu Nov 13 22:59:04 UTC 2014  <*>   asciilifeform not an expert on the economics of this, but wonders how the cost relates to the 'unit cost' - that is, what it costs to house and feed a typical vendor.

Wed Nov 12 23:07:55 UTC 2014  <mircea_popescu>   so in a sense, i'm the one thing supporting this here bitcoin economy.

Wed Nov 12 17:28:52 UTC 2014  <mircea_popescu>   that's a third of the us economy, and about 30% of the eu.

Wed Nov 12 17:28:31 UTC 2014  <mircea_popescu>   people that derp about "bitcoin changing the world" have very little idea of the changes incumbent. it's things like these. mp will never permit the pharma "economic growth engine", as a for instance.

Tue Nov 11 05:30:06 UTC 2014  <pete_dushenski>   credit is widely used in alberta: hot economy, bezzlemania

Tue Nov 11 05:11:52 UTC 2014  <Vexual>   you planning to inject some bc into the australian economy pete_dushenski?

Tue Nov 11 00:48:57 UTC 2014  <mircea_popescu>   undata: you want economic security; that's it. <<< could a visiting merchant buy a nice ham off of one of your families when passing through ?

Mon Nov 10 19:18:41 UTC 2014  <saifedean>   undata but then... who will raise the aggregate demand?! How selfish would it be of all families to think of their own survival and leave the national economy to flounder.

Mon Nov 10 19:17:50 UTC 2014  <undata>   you want economic security; that's it.

Mon Nov 10 05:21:20 UTC 2014  <cazalla>   "If bitcoin were allowed to co-­?exist as “legal tender” it could also create a situation where under Gresham’s Law “Bad money drives out good”. In such a scenario, bad currency (bitcoin) would be used and good currency (US Dollar) would be hoarded, creating greater economic instability."

Sun Nov 09 17:37:13 UTC 2014  <mircea_popescu>   at some point in the cold war, the united states president was a totally inept ninkompoop, principally remembered for having taken his shoes off in the un council. this guy had an oversized military and inept economic policies that stalled the country. his fellow americans didn't think much of him, kept making little mistakes.

Fri Nov 07 23:07:31 UTC 2014  <saifedean>   kakobrekla well, in my day job i teach textbook macro and micro economics to undergrads... pays the bills and passes the time while i live in gorgeous lebanon, and also allows me to innoculate them against the textbook garbage

Fri Nov 07 17:03:26 UTC 2014  <mircea_popescu>   the economy needs it, privet.

Fri Nov 07 16:41:07 UTC 2014  <mircea_popescu>   bounce nah, economy of scale. same process involved in being a god anyway.

Fri Nov 07 05:29:18 UTC 2014  <mircea_popescu>   which is why the economy can't really function "on its own"

Fri Nov 07 01:47:29 UTC 2014  <*>   Adlai has read "GPG Contracts" and "Complete Theory of Economics" already, although may be fuzzy on the details

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