Friday, February 1, 2013

Good questions about electronic money

A long-time reader named Meyers sent me this link yesterday.  It is of a Brit comedian who asks a perfectly reasonable question which is: Why should we wreck the economy simply because a bunch of drunken bankers typed in some foolish bets into their computers?  Instead of bailouts and austerity measures, why don't we just have these wankers type some new instructions into their computers?

Actually, I have been saying this for years.  In the early 1990s I wrote in Chapter Six of Elegant Technology “Are we really going to let a bunch of preindustrial, techno-illiterate, computer-chip idolators march this country down the road to ruin? Really?”

Mitchell is funnier.

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