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Quote from: hamdani yusuf on 08/05/2021 22:59:14The problem of optimizing resources distribution is not restricted to individual level. It also applies to the subsystems as well as superorganism level.In any level, optimizing resources distribution requires some methods of information exchange or signalling among parts of the system.In early human societies, redistributing resources were done in several ways. Preys caught by a hunter gatherer group could be simply shared to its members. If they had no record keeping mechanism to track how much resources produced and consumed by each member, the group is vulnerable from being a victim of freeloaders. The most primitive form of that record keeping is by memorizing resource exchanges, productions or acquisitions, and consumptions by each member, which is done collectively by other members.
The problem of optimizing resources distribution is not restricted to individual level. It also applies to the subsystems as well as superorganism level.In any level, optimizing resources distribution requires some methods of information exchange or signalling among parts of the system.
In the case of parents giving foods to their offsprings, there's no need for record keeping, since the relationship is not equally reciprocal. The offsprings only have to provide service for the parents in the form of carrying their genes into the future.
Unlike before, we are starting to realize that discontinuity of identities and experiences are no longer seen as inevitable necessities for going forward with our lives.
Let's get back to resources distribution. Simpler organisms have been practicing resources distribution long before humans even existed.
Tit for tat is an English saying meaning "equivalent retaliation". It developed from "tip for tap", first recorded in 1558. It is also a highly effective strategy in game theory. An agent using this strategy will first cooperate, then subsequently replicate an opponent's previous action. https://en.m.wikipedia.org/wiki/Tit_for_tat
For the scheme to work sustainably, it is necessary that the average resources production can keep up with consumption.
It's important to note that some kind of resources have expiry time. Excess of production will be wasted when they are expired. The resource sharing strategy can be helpful here.
In recent weeks America’s national debt has remerged as a major talking point. With Biden set to spend trillions on new initiatives, many in the Republican party are growing concerned by the scale of the debt. So in this video we explain the state of the US national debt & debate whether Biden’s spending is a good idea or not.
Additional costs in transporting, storing, and protecting it from environmental factors as well as theft and robbery may outweigh the value of resources it supposed to save. This situation called for the invention of fiat currency.
the civil force of a national or local government, responsible for the prevention and detection of crime and the maintenance of public order.
Early in the Covid-19 pandemic, many of the world’s richest countries poured money into the race for a vaccine. Billions of dollars, from programs like the US’s Operation Warp Speed, funded development that brought us multiple Covid-19 vaccines in record time. But it also determined where those vaccines would go. Before vaccine doses had even hit the market, places like the US and the UK had bought up nearly the entire supply.This turns out to be an old story. In nearly every modern global health crisis, from smallpox to malaria to H1N1, rich countries have bought up vital medical supplies, making poor countries wait sometimes decades for life-saving support. It’s effectively a system in which where you live determines whether you live or die of a preventable disease. Leaving a disease like Covid-19 to spread unchecked in some places also gives it a chance to mutate -- and variants of the virus are already raising alarms. So: how do we get vaccines to countries that can’t afford them?One solution underway is called Covax. It’s a program co-led by the World Health Organization; Gavi, The Vaccine Alliance; and the Coalition of Epidemic Preparedness Innovations (CEPI). Its goal is to get vaccines to lower- and middle-income countries at the same time as rich countries. So how is it supposed to do that? And will it be enough?
This situation called for the invention of fiat currency.
Experienced economist and not so experienced economist are walking down the road. They get across sh1t lying on the asphalt.Experienced economist: “If you eat it I’ll give you $20,000!”Not so experienced economist runs his optimization problem and figures out he’s better off eating it so he does and collects money.Continuing along the same road they almost step into yet another sh1t. Not so experienced economist: “Now, if YOU eat this sh1t I’ll give YOU $20,000.”After evaluating the proposal experienced economist eats sh1t getting the money.They go on. Not so experienced economist starts thinking: “Listen, we both have the same amount of money we had before, but we both ate sh1t. I don’t see us being better off.”Experienced economist: “Well, that’s true, but you overlooked the fact that we’ve been just involved in $40,000 of trade.”
A common practice to enforce the law is by inventing the police institution.Meanwhile, to protect from theft and robbery by rival societies, they created military forces.
Quote from: hamdani yusuf on 17/05/2021 22:47:55This situation called for the invention of fiat currency.Earlier versions of fiat currency are likely used bilaterally between participants of a transaction. Instead of receiving commodity money in exchange for real resources, which is not urgently needed anyway, the resource supplier received bond certificate or some form of contract, that the resource consumer will return in the future. There are times when the creditor can not collect the debt for various reasons, like they migrate to other places, or dead. There are also times when the creditor (resource producer) need to use the resources before the payment deadline, hence the debtors (resource consumer) haven't ready to pay the debts. In these cases, the creditor can exchange the contract or bond certificate to a third party with other resources.
A banknote (often known as a bill (in the US and Canada), paper money, or simply a note) is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities.