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If you're familiar with the notion of a greedy algorithm, that is capitalism in practice -- easy to find local optima, but in the case of humanity, very unlikel
by ken47 11y ago
If you're familiar with the notion of a greedy algorithm, that is capitalism in practice -- easy to find local optima, but in the case of humanity, very unlikely to find the global optimum.
- ken47 11y agoI'm getting a strong mix of upvotes and downvotes. I understand that achieving a true global optimum is likely intractable, so I thought I'd clarify my statement, and hopefully solicit some real responses. The most influential players in capitalism, not in theory, but as it is practiced in the real world today, are measured by their performance during financial quarters, or political terms. Such an incentive structure is not going to encourage long-term optimization.