Niall Ferguson Applies Evolutionary Theory to Finance

[happinesson]

Good analogy! You are so smart!

[jefri53]

World peace will not happen until we hv peace in every country.

That will not happen until every human respect the freedom of a stranger.

That will not happen if you dont have same in your family.

Because of LOVE, you have started a family.

It is now your responsibility to ensure that yr procreation do not end up as a reject but a clone who also has the LOVE and respect for a stranger.

[Cyrus255]

@jefri53 World peace is neither obtainable nor desirable. World peace is a delusion only obtainable by forced equality. Equality is another delusion only achievable by squashing all freedom. Because with freedom, evolutionary superior beings naturally rise above others. Smart above the dumb, strong above the weak.

The economy SHOULD apply evolutionary theory, but the government often desires "equality" and forces themselves into the equation and gives corporate welfare and punishes small biz

[SuperAnimalDrummer]

@Cyrus255 Wow, this is really dumb...

[jefri53]

@Cyrus255 ,

Word peace is achievable if majority recognise the minority devils , especially those sitting in powerful chairs. Of course, todate the world is separated with pockets of peace and violence, but you can agree with me that there all more peaceful pockets.

Taking USA as an ex., a great country in the 50s and 60s can deteriorate till what is today is only because of the devils had gain the controlling chair.

[jefri53]

@Cyrus255 ,

@Cyrus255 , bro. your theory is debatable, but my main objection is that I would rather not consider negative aspects if positive options are available.

Economy being man-made, can only be pro-life if humanity acted in more positive ways rather than in the negative killing ways.

[DuhIdiot1]

@Cyrus255 Damn, social Darwinism (however muddled) in 2011? For real? The past couple of centuries get, what, a snort and a wave of the hand from you?

[jefri53]

There will always be the 2 extremes of humanity and all the other variations in between.

The result is disharmony, disputes, then wars and killing of innocents.

In this modern times, yr freedom and independence is not under yr control, but by pple who rule over yr living space.

USA used to be a comparatively good living space, until the present rulers screw it up. When is everybody going to stand up for their rights or die trying.

This WAR start in USA and the world is watching HOPEFULLY.

[dasmysteryman12]

I agree with stengevarsel. Anarchy is when you let loose a population of people who don't take the responsibility of disciplining themselves. Anarchy=chaos & chaos=fall of the state. What I recommend is the orderly version of anarchy; democracy. Democracy is a government FOR the people. The people can elect a representative or oust that representative. It may not be the best, albeit the most utopian, of governments, but it's the best option we have.

[acr08807]

He seriously acts like he's the first person ever to have this thought, when Spencer beat him to it by around 140 years. Some historian he is!

[davidmesaaz]

Sounds like Nall is a Hayek disciple...

[jamesholder13]

There is a problem with this- even if evolutionary theory could explain economics, literature, etc. (and I don't think it can) these systems are always being interfered with.

[chadp2004]

interesting analogy but that's about all really. he doesn't propose any methods on how to apple evolutionary theory to finance in a meaningful way to make benefit the financial world, or maybe he does in the longer version of the video. anyone watch it?

[KnightBiologist]

It's about time somebody brought this up. In deference to earlier comments made here; perhaps the AIG's & Goldman Sach's of this era have the lumbering power of a T.rex, yet their inflexibility and avarice will be their undoing just the same. In the meantime, the rest of us little rodents can scurry about and find new niches (read entrepeneurship) to fill.

This is fun!

[verstwo2]

that was very interesting....I'd like to hear more.

[mikezephyr]

Creative Destruction- Joseph Schumpeter

[eirefrance]

I really liked the idea of innovation as a mutation. It suggests that real innovation is accidental, which it probably is.

[stengevarsel]

The weaknesses of the American system have been revealed. Its system reached critical mass. Time for a sustainable model.

[Mastikator]

If you leave nature to itself then it will take care of itself, it will even progress in the process. But if you try to interfere then you will make a mess of things.

If you leave the market to itself then it will take care of itself, and it will progress in the process. But when you make government interferences then you just make a mess.

Deregulate the market, let unsistainable models die naturally. Let the market be truly free.

[stengevarsel]

The only problem is that weaker or unlucky individuals can't adapt and adjust to such a model. Are you saying that people without work, homes or health insurance should be left to their fate?

I live in a country where the government is the "overwatch", so to speak. And it has worked extremely well. It has worked well in all scandinavian nations.

[Mastikator]

No I am not saying that. If there is a market demand for "safety nets" for "weak individuals" then it will be supplied by the market to the extent that there is a demand.

There could also be charity organisations to hell the less fortunite too.

I live in Sweden, it's not all rosy. Let the sacred cow die.

[stengevarsel]

Yes, the market solves everything, doesn't it.

Take a look at the failure of the construction contractors in Iraq as an example. Poor construction for astronomical sums. The market only cares about maximum revenue at minimum cost.

I live in Norway. Rosy over here, but that may have something to do with the global financial breakdown which hit Sweden bad.

[Mastikator]

The market is just an abstraction that describes people freely interacting. If people freely interacting and cooperating doesn't solve a problem then that is still no excuse to support a mafia.

[stengevarsel]

Interaction as in trading money or goods.

So when the market fails to come up with solutions on its own, as in providing the poor with a minimum of health care, the government should stay out of it and let the weak suffer and die. Market mechanisms and health care for the unfortunate does not compute. It's all done pro bono by those who care.

Calling government "a mafia" is pretty harsh my friend. Are you Swedish? I doubt it.

[Mastikator]

Money, goods and services!

When "the market" a.k.a people give (poor) people free health care voluntarily, "the government" a.k.a people should take resources from "the market" (people) and give it to the poor (people).

Theft is not a "noble" response to selfishness.

What does it matter if I'm Swedish, I could be from Kongo for all you know and it makes no difference. The reasoning I use stands on its own merit independently of me.

[stengevarsel]

I use the words market, government and people to discern between the three, even though they are made up by people. That's beside the point.

Yes, taxes, albeit they are involuntary, it is not theft. It is the cost of civilization.

I could argue like you do and say that not sustaining the life of those who cannot pay for health care is involuntary manslaughter and should be punished accordingly.

[Mastikator]

That would be assuming that people have an obligation to take care of each other. Which is nothing but an ethical claim, an opinion.

The idea that we are entitled to free health care is the idea that we are entitled to other people's money for buying the service of health care.

What's even the point of having property theories if other people are defacto entitled to our stuff. If you're gonna be a communist then just go all the way and say "possession over property".

[stengevarsel]

So health care is not a human right, as it consumes the wealth of others. What about protection against crime, fire, or foreign aggression. Are these causes worthy enough for a capitalist to share his wealth? Or should all services be private. I have an idea. Let's descend from democracy to anarchy.

I'm not a communist, just like you're not a McCarthyist, well at least I hope you aren't.

[Mastikator]

Rights is an ethical construction, it's nothing but arbitrary opinion. I don't believe in morals. Or any other form of mysticism for that matter.

I share my wealth when I can. I give to charity, when a homeless man beggs for money I tend to give as much as I have.

But I respect other's choices if they don't want to do the same. Stealing resources from others, no matter how noble the goal, is barbaric.

I'm not a McCarthyist, I'm an anarchist. A voluneerist if you will. I believe in freedom

[stengevarsel]

I believe that freedom can be equally upheld in a democratically ordered society with a central government.

I also believe that humans are weak, and that anarchy, even though it works in theory, would either collapse into chaos or evolve to despotism.

[stengevarsel]

I aplogise for the false dichotomy.

[Mastikator]

Democracy is just mob rule, it's still tyranny.

If you think that humans are too weak to take care of themselves, then how could humans be strong enough to take care of others?

The argument from misanthropy is self refuting.

If people really are pathetic and stupid, but some special superhumans are strong enough to lead them, then why not let the weak ones voluntarily lean on the strong ones by demand, instead of imposing it as a policy top down?

[stengevarsel]

This is where evolution comes in. People are not too weak to take care of themselves or their close family. We've been doing that since our ancestors became a social species. Only in the last few thousand years did we develope societies. Why is it tyrrany? How have you been tyrranized by the Swedish government?

The weak are worthless in a free market model. They do not contribute, they do not consume, thus they are an unfortunate cost which needs to be eliminated.

[Mastikator]

We've been social animals who take care of each other since our ancestors became a social species, which is millions of years before we became humans.

And we did it without some government mandating it. Tyranny is making compulsory policies about how everyone must contribute to society in some way or they are evil traitors and will be shot, or whatever.

When I have I been tyrannized by the Swedish government? IPRED, FRA.

[stengevarsel]

That's my point. When we developed farming and learned how to keep livestock, society grew beyond family groups, enabling very few to have power over hundreds or even thousands. We are made to sustain family groups, not entire populations with people we have never met or heard of. That is why we are unable to create a perfect model.

IPRED and FRA, at first glance, looks like protection of rights to me. Did the rights of others conflict with your personal interests?

[Mastikator]

So.. because we are limited by Dunbar's number, we should have a mafia that rules over everyone, because politicians are exempt from the flaws that were used to call for them?

Look, I get that the world is not perfect and that humans are not angels, but creating a giant mafia to take care of everything is not a solution. It only leads to wars and tyranny.

IPRED and FRA are kind of like USA's Patriot Act. It gives the government the authority to spy on civilians internet traffic arbitrarily.

[stengevarsel]

Dunbars number.. good one, I never heard of that until now. thank you for expanding my knowledge.

No, politicians are humans, they make all the mistakes we do, etc. Transparency is key, a free media also, and so on and so forth. IPRED and FRA.. Sorry for not looking further into that, as I myself is an eager pirate with an upload rate three times as high as my download rate. God save the King. Good night and good luck my friend. Stengevarsel out.

[Scoforever]

Some very good points.

[sugarpuddin88]

European & American state aid is interlocked into the International Bank of Settlements, which is tied to World Bank, which is tied into the IMF, which is like all things: Tied into Goldman Sachs!

AIG is run by Edley of Goldman Sachs!

All roads lead to: Goldman Sachs!

Why don't sheeple want to be independent of Goldman Sachs & JP Morgan?

Instead their lives are dictated to by a bunch of arbitrage wielding sycophants & sociopathic criminals who profit by destroying the system!

[sugarpuddin88]

Paulson, former CEO of Goldman Sachs & Treasury Sec under Bush, "I never saw the banking industry so strong", is involved in Bear Stearns, Lehman Brothers, Geithner & Robert Rubens (also of Goldman Sachs & who was paid 150 million to run Citigroup into the ground) & the privately owned FED Res Bank & other banking oligarchs.

These oligarchs torpedoed pensions to create the new peasant class of indentured servants without medical, retirement or savings, (the FED tripling money supply in 6 mos)

[sugarpuddin88]

Currently, the world is forming ad-hoc currency baskets for trade in order to get away from the contamination, which is the US dollar, (google: Shanghai Organizational Coop); & setting up for a new World Order Currency

Meanwhile, the USA has Stockholm Syndrome, where the terrorized population through Obama actually supports their terrorist: Last week Obama is actually giving more power to their captors, the Federal Reserve Bank, rather than prosecuting them

[Mastikator]

Woo! Austrian economic models rule

[sugarpuddin88]

Bernanke, Geithner, Rubens, Summers, Goldman Sachs, JP Morgan & the Federal Reserve Bank know exactly what they are doing by collapsing the US Dollar:

The purpose of this financial crisis is to take down the U.S. dollar as the stable datum of planetary finance and, in the midst of the resulting confusion, put in its place a Global Monetary Authority [GMA - run directly by international bankers freed of any government control] -a planetary financial control organization" - Bruce Wiseman

[Mastikator]

I only wish all of humanity could be freed from government control.

[eirefrance]

Yes, they do rule, and we do suffer as a result.

[originaljonesdotinfo]

i expected much more from this clip. isn't it entirely commonplace to understand that all systems undergo evolution?

[luke2468013579]

what you say is true in terms of generality, but its the way they showed the specific similarities which impressed me.

[KraljevicPavle]

haha was just thinking that, it goes nowhere.