Variance

28 ms·

61.
by Variance 14y ago
>What I've described above are "the basic economic laws" that override your "basic intuition". There are more subtleties, of course, but in aggregate and with market efficiency, reality tends toward the case described. It's a little sil
62.
by Variance 14y ago
>However, this is the basic intuition behind these types of laws that you need to understand, otherwise I fear none of this will make any sense to you. This is also exactly why those types of laws are wrong. They're done by politicians
63.
by Variance 14y ago
I'd say that the chances of us ever coming into contact with intelligent life are worryingly low until well (as in, billions of years) into the future. If we say that "ultimate maturity" of a civilization is to have a technological singular
64.
by Variance 14y ago
There's potential truth in what you're saying, but that doesn't mean that a tourism tax is far from ideal. The economics of governments and their agencies are very different from those of companies. Most importantly, while private compani
65.
by Variance 14y ago
I just took a trip out of the US down to Brazil and back a few weeks ago, and dear god, coming back into the country at the airport in Atlanta... The tourists probably had about 20-30 minutes before getting out of the terminal, which is bad
66.
by Variance 14y ago
I want to make an important note here: trading is not a zero-sum game. It generates value through the exact mechanisms that you noted, market making (liquidity) and inefficiency elimination (accuracy). Via the efficient market hypothesis, t