A Quote by David Brin
In contrast, markets - oft mythologized as "natural" are the most unnatural things going. Libertarians will tell you "market laws are laws of nature", what baloney. Markets - and the other great modernist cornucopian tools - are magnificent wealth generating machines, built ad-hoc, through trial and error, constantly fine-tuned and refined, tinkered, adjusted.
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There are markets extending from Mali, Indonesia, way outside the purview of any one government which operated under civil laws, so contracts weren't, except on trust. So they have this free market ideology the moment they have markets operating outside the purview of the states, as prior to that markets had really mainly existed as a side effect of military operations.
Laws, in their most general signification, are the necessary relations arising from the nature of things. In this sense all beings have their laws: the Deity His laws, the material world its laws, the intelligences superior to man their laws, the beasts their laws, man his laws.
In the 40 years I've been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality... Asset markets are in the sky, and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up.
In my understanding of God I start with certain firm beliefs. One is that the laws of nature are not broken. We do not, of course, know all these laws yet, but I believe that such laws exist. I do not, therefore, believe in the literal truth of some miracles which are featured in the Christian Scriptures, such as the Virgin Birth or water into wine. ... God works, I believe, within natural laws, and, according to natural laws, these things happen.
Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.
Does man's freedom consist in revolting against all laws? We say no, in so far as laws are natural, economic, and social laws, not authoritatively imposed but inherent in things, in relations, in situations, the natural development of which is expressed by those laws. We say YES if they are political and juridical laws, imposed upon men by men.
I think when markets go up and there is no manipulation in markets and people question the market going up and it keeps going up, that is a true bull market.
Positivism eliminates any kind of natural law principle - for example, that there are economic laws which can be transgressed only at your peril. With positivism, there is a tendency to leap into ad hoc economic theory.
For the religious, passivism [i.e., objects are obedient to the laws of nature] provides a clear role of God as the author of the laws of nature. If the laws of nature are God's commands for an essentially passive world ..., God also has the power to suspend the laws of nature, and so perform miracles.
We know the laws of trial and error, of large numbers and probabilities. We know that these laws are part of the mathematical and mechanical fabric of the universe, and that they are also at play in biological processes. But, in the name of the experimental method and out of our poor knowledge, are we really entitled to claim that everything happens by chance, to the exclusion of all other possibilities?
People make the mistake of talking about 'natural laws.' There are no natural laws. There are only temporary habits of nature.
The nature of the economic system should be a matter for public choice, and free market capitalism should not be accepted without any discussion of the rich variety of alternatives ... Unlike civil laws, economic laws are imposed on people with all the authority of immutable laws of nature. But the economy is created by people, supported by government intervention, regulation, statute and subsidy, and implemented in such a way that it gives substantial wealth and power to a privileged few, while the majority face a life of relentless work, stress and periodic financial insecurity.
[The] first postulate of the Principle of Uniformity, namely, that the laws of nature are invariant with time, is not peculiar to that principle or to geology, but is a common denominator of all science. In fact, instead of being an assumption or an ad hoc hypothesis, it is simply a succinct summation of the totality of all experimental and observational evidence.
The exercise of magical power is the exercise of natural powers, but superior to the ordinary functions of Nature. A miracle is not a violation of the laws of Nature, except for ignorant people. Magic is but a science, a profound knowledge of the Occult forces in Nature, and of the laws governing the visible or the invisible world. Spiritualism in the hands of an adept becomes Magic, for he is learned in the art of blending together the laws of the Universe, without breaking any of them and thereby violating Nature.
As an engineer, I understood that the natural world operated according to fixed laws. Through my studies, I came to realize that there were, likewise, laws that govern human wellbeing. It seemed to me that these laws are fundamental not only to the wellbeing of societies, but also to the miniature societies of organizations. Indeed, that is what we found when we began to apply these principles systematically at Koch Industries. Through our observation of how they could create prosperity in an organization, I began to systematize my beliefs into Market-Based Management.
Laws, it is said, are for the protection of the people. It's unfortunate that there are no statistics on the number of lives that are clobbered yearly as a result of laws: outmoded laws; laws that found their way onto the books as a result of ignorance, hysteria or political haymaking; antilife laws; biased laws; laws that pretend that reality is fixed and nature is definable; laws that deny people the right to refuse protection. A survey such as that could keep a dozen dull sociologists out of mischief for months.
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