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Entropy production delusion

It is common in knowledgeable circles to talk about the development of civilization in terms of entropy discussion. The term 'entropy...

Showing posts with label economic contraction. Show all posts
Showing posts with label economic contraction. Show all posts

Tuesday, November 10, 2015

Distorted perspective

The possibility of intelligent life on some of the multitude of planets in the universe appears to be quite a consideration of some cosmologists, probably because it aids their academic careers to publish seemingly knowledgeable arguments on the subject.
Of course, they are not required by society to put this issue in appropriate time perspective. After all, most people are only concerned with what has happened in recent times and what is likely in coming years here on Earth. Some have a mild interest in the speculation of cosmologists about what has happened over past eons in the vastness of the universe. The space efforts of NASA and other organizations are of wide interest largely because of the impact of satellites on what they can use and do. The increased knowledge of what it is like on Mars is an interesting abstraction that does not rate as highly in society as the doings of entertainment and sporting (human) stars.
The time reality does not, however, appear to be taken into account by those who speculate on possibility of intelligent life on other planets. The universe has developed for billions of years with galaxies coming and going. It is quite likely that intelligent life on Earth will last for only millennia. The demise of industrialized civilization is certain within centuries as the limited natural resources are used up, while the surviving human population will not have the tools to survey the stars. If any intelligent life has existed for millennia on other planets it is most unlikely that they are in existence now. Those who speculate on making contact with intelligent life on other planets do not take that time factor into account. The slight possibility that intelligent life will develop on some planets in the distant future is an issue that no doubt some people will speculate on!
No doubt most people will continue to strive to make do as global economies start to contract and the views of cosmologists will be only a very minor distraction among even the the most learned.

Monday, December 23, 2013

Fun and Games with Bitcoin

The ups and downs of the digital currency, Bitcoin, is generating a vast amount of speculation in financial circles. Most people will have been bewildered by this innovation. They have been used to dealing with real money and have a degree of understanding of how inflation and deflation affects their decisions. The volatility of Bitcoin is beyond their comprehension. Many of those who have tried this digital currency have had their fingers burnt while others are hoping that the price of the Bitcoin they have acquired will make them rich by growing exponentially.

Intangible money is a means of buying tangible goods and services. Speculation in dollars, euros and other real currencies by investors, banks, financial managers and governments does not hide the fundamental usage of money to pay for those goods and services that are available. These goods and services are produced by irreversibly using up the limited supply of natural material resources, including those providing the necessary energy to do the work. That is an unsustainable process. So potency of real money will decline as these resources become scarcer. Economic contraction will set in, despite the protestations of economists.

Bitcoin will inevitably share the fate of real money after causing a lot of confusion amongst those who fallaciously believe it can cope with reality.