{"id":23025,"date":"2017-02-27T21:05:37","date_gmt":"2017-02-28T02:05:37","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23025"},"modified":"2017-02-27T21:05:37","modified_gmt":"2017-02-28T02:05:37","slug":"must-read-of-the-day-energy-money-and-the-destruction-of-equilibrium","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23025","title":{"rendered":"Must Read of the Day \u2013 Energy, Money, and the Destruction of Equilibrium"},"content":{"rendered":"
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Must Read of the Day \u2013 Energy, Money, and the Destruction of Equilibrium<\/a><\/h3>\n
Michael Krieger<\/a><\/span>\u00a0|<\/span>\u00a0Posted\u00a0
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I see many economists and entrepreneurs as opponents even if that is not the intention of the economists. Academic economists are most needed by those who have power and want to keep it. Multinational corporations, banks, and governments. The last thing those entities want is disruption, their principal and interlocking goals are stabilization and optimization of the existing order. They have an incentive to \u201coptimize\u201d the current system and extract rents.<\/em><\/strong><\/p>\n

I would argue that hyper focus on optimization is the enemy of creative beings such as ourselves and makes us very unhappy and leads to blow-back from human beings. And rightfully so. But that blow back can get ugly.<\/strong><\/em><\/p>\n

\u2013 From the piece:\u00a0Energy, Money, and the Destruction of Equilibrium<\/a><\/p>\n

Earlier today, a reader named\u00a0Brett Maverick Musser, who works in Operations at Airbitz sent me an article he published\u00a0on\u00a0Medium<\/em><\/a>, which\u00a0I thought was excellent.<\/p>\n

With permission, I have reposted the entire piece below:<\/p>\n

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Energy flux is the driver of change in our galaxy. Nothing happens without a flow of energy. And what is energy? Energy is the ability to perform useful work. And in physics, what is useful work?\u00a0Work<\/span>\u00a0is useful if it overcomes inertia or resistance in order to generate motion.<\/em><\/p>\n

Energy not money makes the world go round. Energy is destiny.<\/em><\/p>\n

A Failed Paradigm and Fake Prices<\/em><\/strong><\/p>\n

To paraphrase Paul Romer author of the scathing paper\u00a0\u201cThe Trouble With Macro\u201d<\/a>, economics has had a \u2018considerable observed regression since the 1970s\u2019 yet hides behind mathematical elegance and authority that the public at large is not sophisticated enough to rebuke nor powerful enough to eschew. Never ending zero interest rate policies, negative interest rates and other forms of financial alchemy perpetuated by central banks all over the world are intellectual concessions that the existing paradigm of economic thought and authority is just flat wrong.\u00a0<\/em><\/p>\n<\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Must Read of the Day \u2013 Energy, Money, and the Destruction of Equilibrium Michael Krieger\u00a0|\u00a0Posted\u00a0Monday Feb 27, 2017\u00a0at 4:56 pm I see many economists and entrepreneurs as opponents even if that is not the intention of the economists. Academic economists are most needed by those who have power and want to keep it. Multinational corporations, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[11008,4285,6174,536],"class_list":["post-23025","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-equilibrium","tag-liberty-blitzkrieg","tag-michael-krieger","tag-money"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23025"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23025\/revisions"}],"predecessor-version":[{"id":23026,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23025\/revisions\/23026"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}