TED Conversations

Mitch SMith


This conversation is closed.

Should we trust the invisible hand?

James B Glattfelder outlines an emergent entity in his study of transnational company data.

Is this entity trustworthy?

Please state your reasons for trust or otherwise on the assumption that this emergent entity exists.

I'd also be interested in your opinion of whether the entity outlined in the math is essentially separate from the people who created it?


Showing single comment thread. View the full conversation.

  • thumb
    Feb 20 2013: Indeed. But "intangible" is not yet providing a "choice"!

    "Credibility" creates, indeed, the Debt based on future unknown expectations. It is a projection of what one side would like the other side to be. Where lies the accountability? On the side who would like to deserve the credit or on the side who would like to extend the credit in order to enslave the other side?

    Rationality is the projection of a Past into a Future: shrinking the GDP should shrink the Debt but in reality it increases the Debt on expectations of a better GDP after the shrinking. No one can correct the Past and this is true for any FcP.

    Comparing the Housekeeper budget to the National one reduces the capacities of the latter while its isolate the country. Isolation means no exchange and no exchange means no communication: the dynasaur is dying for eating its own tail.

    We are in agreement.
    • thumb
      Feb 20 2013: I can only speak about corporate project budgets.
      Intangibles will not be recognised - nor will contingency.
      One has to hide contingency in false project modules which get folded after the budget is approved - very tricky. Another place to hide such modules is in the risk mittigation section - but if it looks too large the tangible cost benefit may be affected. This makes it very hard to carry forward benefits to future projects and prevents continuous improvement strategies.
      Credibility falls into the category of arse-covering - it is the risk deferal method used by CEO's and board members. Most corporate projects spend 1000% of true project cost on credibility in the form of consultancy fees. Both corporations and goverments indulge in this practice.

Showing single comment thread. View the full conversation.