Capitalism

... is an economic system with some wonderful properties. Too bad it's so rarely tried.

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Capitalism

I'm still gagging on the punch line to Tyler Cowen's love letter to Ayn Rand : The true take-away message is a reaffirmation of how the enormous productive powers of capitalism -- the greatest force for human good ever achieved -- rely on the driving human desire to be excellent. Now it happens that I think that capitalism (or at any rate, a mixed economy with a significant dose of capitalism) is the best economic system for an industrial economy. It did manage to keep chugging on when various variations on socialism ran aground in the twentieth century. How, though, can a not always idiotic guy like Cowen come up with such preposterous load of crap? I think I understand the logic. Capitalism has been the dominant economic system for the past two hundred years. Those two hundred years have seen a vast burst of technological progress and improvement of the standard of living for a large fraction of the people. Post hoc, ergo propter hoc is the usual name of this logical fa...
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Anti-Libertarian: re-post

The most pointed critique of social security and liberalism in general is the libertarian critique. The problem with libertarians, for a liberal, is that we have too much in common. We both believe in individual rights, tolerance of individual differences, and dislike government prescription of religion. The basic difference, it seems to me, is the different answers we give to Cain's (with thanks to the Captain - my original version had the corpse asking the question!) famous question: "Am I my brother's keeper?" That's not really my basic bitch against the libertarians though. My real complaint is the same as my complaint against most religion - its premise is a fraud. For those who can't stand to wait for the punchline, I believe that trying to implement libertarian principles leads to tyranny or social disintegration. Demonstrating that takes some historical (and pre-historical) context. For all but the last 15,000 or so of the 100,000 years the human spec...
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Objects in Your Phase Space May Be Smaller Than They Appear

Lubos Motl has a very interesting post on a new ArXiv paper (0807.4556) by Jan de Boer, Sheer El-Showk, Ilies Messamah, Dieter Van den Bleeken. Because I don’t understand the technical details, let me just quote Lumo on what seem to me the most interesting parts: What is the general lesson? The general lesson is that in quantum gravity, the number of degrees of freedom is often much lower than what you would need to realize all of your fantasies based on classical physics. The entropy bounds and the holographic principle were the old moral examples why it is so. The new Benelux paper gives you a new and, in some optics, more concrete picture why not all of your classical fantasies are allowed. Why is it so? Simply because you often don't have enough quantum phase space (not even one Planck volume, up to powers of (2 pi), necessary for one quantum microstate) to realize them. A priori, this comment could sound crazy to you. If you have large objects, the corresponding phase spaces...
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