Quotes & Links #80

1) breakingsmart.com: A New Soft Technology

Software eating the world is a story of the seen and the unseen: small, measurable effects that seem underwhelming or even negative, and large invisible and positive effects that are easy to miss, unless you know where to look.

This has happened before of course: money and written language both transformed the world in similarly profound ways. Software, however, is more flexible and powerful than either.

Am looking forward to more.
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Quotes & Links #78

1) washingtonpost.com/wonkblog: One big myth about medicine: We know how drugs work

Knowing why a drug works has historically trailed the treatment, sometimes by decades. Some of the most recognizable drugs — acetaminophen for pain relief, penicillin for infections, and lithium for bipolar disorder, continue to be scientific mysteries today.

SOFT SCIENCE!
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Quotes & Links #77

1) enlightenmenteconomics.com: Not all economists are neoliberal, honest

My relationship with the concept of neoliberalism is an uneasy one, in that I don’t really know what it means. Often, radical writers use it to mean ‘most of economics’ […]

Noah Smith on a similar topic: “So most economists are supporters of a mixed economy.
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Quotes & Links #74

1) ehs.org.uk: Germany’s Obsession With Inflation – How post-war central bankers manipulated national memories to assert their power

He shows that there was no West German consensus for central banking independence when the Federal Republic of Germany was established in 1949. Far from it, the issue was a controversial one. This was because of the poor record of central banking independence during the inter-war period.

I always wondered how supported the “inflation trauma” is. It seems to be kept alive mainly by the madia because it makes the narrative easier. The article somewhat supports my hypothesis that the Bundesbank is usually “getting away with murder” (70s, reunification, early 00s) and can easily shift blame on to politicians or other institutions. Will have to read his thesis or papers when they are public.
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