Towards a leisure society

RSS
May 5

If there's increasing abundance and the emergence of a leisure society, I wonder what this means for the current (western) education system that is as intensely and insanely focused on competition as never before. Kids already learn 3 languages in kindergarten these days. Is this a bubble before the collapse? Any thoughts on how education would change/needs to change for a world with increasing abundance?

Anonymous

I think that fits the paradigm very well. The more leisure the more time to educate ourselves, and the more education needed to excel at the remaining jobs which still satisfy a great purpose.

May 2

Hi there, I just read your post on contango and backwardation and the gold market. I found it interesting and illuminating to consider storage costs/reburying as crucial to the dynamics of the gold market. Still several parts I wasn't able to completely wrap my head around. Can you recommend any good "advanced-intro" ( book to these issues, i.e. financial markets, fiscal policy instruments, currency. Would be much obliged. Thanks, Sandy, Berlin

Anonymous

Hi there, thanks for your note.
I’m afraid there is no definitive book. That is partly the problem. A good basis in contango/backwardation are the JM Keynes on the topic. The goldwatcher is a good base, but doesn’t really go into commodity curve trading.

May 2
Today’s instalment of Tweets that lack social skills, render me agog, or make me wonder what is this person actually trying to achieve?

NO!

Today’s instalment of Tweets that lack social skills, render me agog, or make me wonder what is this person actually trying to achieve?

NO!

2007/2008 deja vu?

In my inbox from an estate agent:

Hello all,

I have just taken on a beautiful house, 10 minute walk from Turnham Green tube.

I have attached some pictures, Please have a look. I have no other details and to be honest, the way the market is, it will be sold before I have them!

Excellent Condition Throughout  South Facing Garden  Period Property  Three Double Bedrooms  Two Bathrooms  Double Reception Room  Elegant Hallway  Cellar  Dining Room  Fitted Kitchen  10 Minutes Walk to Turnham Green Tube Station

I can possibly get some one off viewings.

Please let me know if you would like to view. My direct line is xxxx

Thank you 

Or will this time be different because we know the government will continue to backstop?

Is life digital?

Reading Richard Dawkins’ Selfish Gene. Absolutely fascinating.

This from the updated version had me absolutely gripped:

A computer is a real machine, hardware in a box. But at any particular time it is running a program that makes it look like another machine, a vitual machine. This has long been true of all computers, but modern ‘use-friendly’ computers bring home the point especially vividly. At the time of writing, the market leader in user-friendliness is widely agreed to be the Apple Macintosh. Its success is due to a wired-in suite of programs that make the real hardware machine - whose mechanisms are, as with any computer, forbiddingly complicated and not very compatible with human intuition - look like a different kind of machine: a virtual machine, specifically designed to mesh with the human brain and the human hand. The virtual machine known as the Macintosh User Interface is recognizably a machine. It has buttons to press, and slide controls like a hi-fi set. But it is a virtual machine. …..

I now turn to the other background idea that we need to import from computer science, the idea of serial and parallel processors. Today’s digital computers are mostly serial processors. They have one central calculating mill, a single electronic bottleneck through which all data have to pass when being manipulated. They can create an illusion of doing many things simultaneously because they are so fast. A serial computer is like a chess master playing twenty opponents but actually rotating around them. Unlike the chess master, the computer rotates so swiftly and quietly around its tasks that each human user has the illusion of enjoying the computer’s exclusive attention. Fundamentally, however, the computer is attending to its users serially. Recently, as part of the quest for ever dizzying speeds of performance, engineers have made genuinely parallel processing machines.

One such is the Edinburgh Supercomputer, which I was recently priviledged to visit. It consists of a parallel array of some hundreds of ‘transputers’, each one equivalent in power to a contemporary desk top computer. The supercomputer works by taking the problem it has been set, subdividing it into smaller tasks that can be tackled independently, and farming out the tasks to gangs of transputers. The transputers take the sub-problem away, solve it, hand in the answer and report for a new task. Meanwhile other gangs of transputers are reporting in with their solutions, so the whole supercomputer gets to the final answer orders of magnitude faster than a normal serial computer could. I said that an ordinary serial computer can create an illusion of being a parallel processor, by rotating its ‘attention’ sufficently fast around a number of tasks.

We could say that there is a virtual parallel processor sitting atop serial hardware. Dennett’s idea is that the human brain has done exactly the reverse. The hardware of the brain is fundamentally parallel, like the Edinburgh machine and it runs sofware designed to create an illusion of serial processing: a serially processing virtual machine riding on top of parallel architecture. The salient feature of the subjective experience of thinking, Dennett thinks, is the serial ‘one-thing-after-another’, ‘Joycean’ stream of consciousness.

He believes that most animals lack this serial experience, and use brains directly in their naive, parallel-processing mode. Doubtless the human brain, too, uses its parallel architecture directly for many of the routine tasks of keeping a complicated survival machine ticking over. But in addition, the human brain evolved a software virtual machine to simulate the illusion of a serial processor. The mind with its serial stream of consciousness, is a virtual machine, a ‘user-friendly’ way of experiencing the brain, just as ‘Macintosh User ‘Interface’ is a user-friendly way of esperiencing the physical computer inside its grey box. It is not obvious why we humans needed a serial virtual machine, when other species seem quite happy with their unadorned parallel machines…..

 

A renegotiated definition of productivity

David Graeber’s latest in The Baffler:
http://www.thebaffler.com/past/practical_utopians_guide


“Labor, similarly, should be renegotiated. Submitting oneself to labor discipline—supervision, control, even the self-control of the ambitious self-employed—does not make one a better person. In most really important ways, it probably makes one worse. To undergo it is a misfortune that at best is sometimes necessary. Yet it’s only when we reject the idea that such labor is virtuous in itself that we can start to ask what is virtuous about labor. To which the answer is obvious. Labor is virtuous if it helps others. A renegotiated definition of productivity should make it easier to reimagine the very nature of what work is, since, among other things, it will mean that technological development will be redirected less toward creating ever more consumer products and ever more disciplined labor, and more toward eliminating those forms of labor entirely.”

Corporate currencies are equity

New post, on new blog.

Corporate equity is a corporate currency. (Also why Weimar notgeld created a hyperinflation problem during times of scarcity, since this was effectively temporary corporate equity issued for immediate redemption against corporate stock/inventory).

RE: naming of the wordpress. Given the obscure reference to Thorstein Veblen in the name of this blog, maybe you could find another esoteric reference. William Stanley Jervons, for example, given how often you write about currency. In the introduction to Money and the Mechanism of Exchange (1876), he describes how his focus was on past and present systems of currency and how check & clearing systems have "perfected" the system. (the full text is available through Google Books)

That’s a nice idea. I was thinking of naming it Dizzynomics actually, much less sophisticated.

Time to Wordpress it…

I started this Tumblr with the intention of Tumblring short, concise leisure-related curios whilst travelling in Japan — a country that I believe is experiencing the leisure effect.

It has now mutated into a full-on blog (due to my clear inability to be concise).

So I think I will start a separate personal blog on Wordpress — not focused around any particular theme — for my more long-form thoughts.

I will dedicate this Tumblr to what it was originally intended to be, a catalogue of leisure society developments in the world. Quotes, photos, links. Not much more.

—— Not sure what i’m going to name it yet.

Currency doesn't give a right to vote. Vote is given based on citizenship or residence, so foreigners, convicts, and in some countries, blacks, women, and others viewed as less equal are denied voting rights period. If the idea here is offering risk-free deposits to the government, and no debt issuance by other financial intermediaries, it isn't going to work. Voters want yield plays and purported safety even if that is impossible.

It is still the equivalent of a national stock. We are all shareholders because currency is ultimately a national wealth allocation mechanism. Interest is the equivalent of a dividend in the event of growth.
Your votes are your democratic power brought to u by a collective agreement. Even in a command economy you have the chance to vote by means of rebellion or insurrection. A stockholders rebellion or the ousting of the board being the equivalent.
And even in an ordinary corporate not all shareholders have voting rights and there are different classes of stockholders as there are citizens in an economy.

You are missing the point about yields. Stocks don’t have yield they have dividend. No growth no dividend, and the same should apply to money. Money already is national stock. It’s just we are holding it through intermediaries rather than directly. Banknotes — the only form of national currency citizens can hold (because we are not banks with reserves ) is already zero yielding. When we keep our money in a bank we are actually waiving our right to owning the national stock directly and instead are issued with parallel units that track that stock akin to etfs. We receive interest because the parallel unit issuer pays us that interest to compensate for the fact that the fund is not fully collateralised. None of this is explicit, but it is exactly that.