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Bitcoin is Venice: Difference between revisions
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==== On paradigms in crisis ==== | ==== On paradigms in crisis ==== | ||
{{Drop|T|his is not}} to say contrarians cannot be popular or correct — [[Gerd Gigerenzer|Gigerenzer]], [[Nassim Nicholas Taleb|Taleb]], [[Benoit Mandelbrot|Mandelbrot]], [[Kathleen Stock|Stock]], [[David Graeber|Graeber]], [[James C. Scott|Scott]], [[Jane Jacobs|Jacobs]], [[Rory Sutherland|Sutherland]] and others ply a healthy trade damning the absurdities of our institutions — but our institutions blithely carry on, regardless. | |||
Well, at least until real-world facts intrude: only when it becomes clear a paradigm not only ''should'' not work [[Paradigm failure|but, in practice, ''does'' not]], does it go into a crisis. In the worst case, it cannot recover and a wholesale redrawing of the landscape is on the cards: a new paradigm must be born, that accounts for the changed practical facts, with new rules, new elders and a new mandate. | Well, at least until real-world facts intrude: only when it becomes clear a paradigm not only ''should'' not work [[Paradigm failure|but, in practice, ''does'' not]], does it go into a crisis. In the worst case, it cannot recover and a wholesale redrawing of the landscape is on the cards: a new paradigm must be born, that accounts for the changed practical facts, with new rules, new elders and a new mandate. | ||
But before that, [[paradigm|paradigms]] have a habit of shapeshifting, reframing anomalies around their fringes and boxing on. You cannot defeat a paradigm with a purely theoretical argument: you must ''punch it in the mouth''. In this way Karl | But before that, [[paradigm|paradigms]] have a habit of shapeshifting, reframing anomalies around their fringes and boxing on. You cannot defeat a paradigm with a purely theoretical argument: you must ''punch it in the mouth''. In this way [[Karl Popper]]’s idea of [[falsification]] doesn’t really describe the way science progresses in practice. But — ironically — the [[falsification]] [[paradigm]] hangs on, not yet having been punched hard enough in the mouth. | ||
==== Outsiders to financial services ==== | ==== Outsiders to financial services ==== | ||