💬 Play the markets

“I [suspect] that we are throwing more and more of our resources, including the cream of our youth, into financial activities remote from the production of goods and services, into activities that generate high private rewards disproportionate to their social productivity. I suspect that the immense power of the computer is being harnessed to this ‘paper economy’, not to do the same transactions more economically but to balloon the quantity and variety of financial exchanges.”

James Tobin, July 1984

🧠 TIL about AM/FM

AM/FM: Engineer’s term distinguishing the inevitable clunky real-world faultiness of “Actual Machines” from the power-fantasy techno-dreams of “Fucking Magic.”

http://mag.cm/am-fm

I learned about this wonderful term from DoNotEat01’s latest video which discusses the unrealistic promises of Elon Musk’s Hyperloop.

If you have even an ounce of interest in the subject of how humans design the cities we live in, I strongly recommend watching DoNotEat01’s video series titled “Power, Politics, & Planning” which uses the computer game Cities: Skylines to demonstrate real-world city planning history and conundrums.

Full playlist can be viewed here