jd
From The New York Times:
BP Loses Trading-Floor Swagger in Energy Markets
The future of BP's trading unit is uncertain as oil spill costs mount and rival firms try to lure away traders.
Sent from my iPad
Dialectics, interconnection, networks, complexity, etc., with special emphasis on social, economic, political and environmental implications. Contributions and suggestions welcome.
jd
From The New York Times:
BP Loses Trading-Floor Swagger in Energy Markets
The future of BP's trading unit is uncertain as oil spill costs mount and rival firms try to lure away traders.
Sent from my iPad
THE GENOME AT 10: Awaiting the Genome Payoff
The Human Genome Project has not produced the promised cornucopia of new drugs.
A couple of observations:
1. A revolution in the instruments of production is at the same time a revolution in the instruments of science.
2. Perhaps one of the problems is reducing the human being to a chemical machine.
jd
The heavy use of computer analysis has pushed the game itself in new directions. The machine doesn't care about style or patterns or hundreds of years of established theory. It counts up the values of the chess pieces, analyzes a few billion moves, and counts them up again. (A computer translates each piece and each positional factor into a value in order to reduce the game to numbers it can crunch.) It is entirely free of prejudice and doctrine and this has contributed to the development of players who are almost as free of dogma as the machines with which they train. Increasingly, a move isn't good or bad because it looks that way or because it hasn't been done that way before. It's simply good if it works and bad if it doesn't. Although we still require a strong measure of intuition and logic to play well, humans today are starting to play more like computers.And related to that, the dark shadow of the market across innovation and even chess (the article is reviewing a book called Chess Metaphors, by Diego Rasskin-Gutman, hence the beginning phrase):
This is our last chess metaphor, then—a metaphor for how we have discarded innovation and creativity in exchange for a steady supply of marketable products.... Like so much else in our technology-rich and innovation-poor modern world, chess computing has fallen prey to incrementalism and the demands of the market. Brute-force programs play the best chess, so why bother with anything else? Why waste time and money experimenting with new and innovative ideas when we already know what works? Such thinking should horrify anyone worthy of the name of scientist, but it seems, tragically, to be the norm. Our best minds have gone into financial engineering instead of real engineering, with catastrophic results for both sectors.
14. Frontline: Inside the MeltdownI suppose I should have something to say about this. While the details of how it is playing out are specific, is there anything new in the general schema of all of it that hasn't been written already?
http://www.pbs.org/wgbh/pages/frontline/meltdown/
The economic situation in the United States is on everyone's minds right
now, and this provocative and thoughtful look into how it all transpired is
offered as part of Frontline's regular programming. As with most Frontline
programs, visitors can watch the full program, and then go back to sections
like "Interviews", "Timeline", and "Analysis". The "Analysis" section is
particularly shrewd, and it contains interviews with key economic players
and policy types including Barney Frank, Sheila Blair, and Chris Dodd.
Visitors can also view an interactive timeline of events related to the
meltdown and even chime in with their own thoughts via the "Join the
Discussion" area. [KMG]