1,417 karma · joined October 21, 2010
http://web.archive.org/web/20070609085706/http://www.sm.luth...
I do not know if it is modified. Neither of them are confirmed. (I converted my Starbucks card balance to a meager fraction of a Bitcoin. Since then my $7.21 has plummeted to $5.69.)
[1] A double entendre. A mine field is a set with the standard field operations, which belongs only to the educator.
I'll believe that HFT adds liquidity to the market when the typical retirement horizon is 15 milliseconds. HFT proponents seem not to (or pretend not to) understand diminishing returns where "adding liquidity to the market" is concerned.
Whether the characterization holds is an empirical question. Whether one ought to condone the systematic winning of asymmetric zero-sum games is a further question. It is in my view rhetorically important not to cede the "value neutral" conceit of (many practitioners of) economics to conservatives. Unfortunately many non-conservatives seem to lack the economic and mathematical background (not to mention imagination--pardon the paralipsis) to turn the "value neutral" conceit on its head. The term "economic injustice" could stand further refinement by explicit mention of its positive, game-theoretic aspects. That involves characterizing, in game-theoretic terms, economic phenomena that game theorists and economists have chosen, for various reasons, not to study.
A philosophical attitude isn't particularly helpful here, if this means the unfortunate Anglophone tendency to limit philosophy to "patrolling the border between sense and nonsense." But the historical fact that game theorists have tended to study empirical questions on terms that can be addressed in game theoretic terms is not a reason to dismiss what might appear to a philosopher concerned with "conceptual analysis" as some kind of private, special language.
No, I make no such assumption. The assertion that I do is not warranted. Since philosophers like to find inferences their interlocutors believe they have not made: locate this assumption. Rousseau's vocabulary of "rights" has not been particularly helpful.
I do not "infer" injustice. The attempt is to characterize positive aspects of it. It seems to be characterized by the systematic winning of certain games by one group against another, especially when the utility obtained by winning is population dependent for one group (the "winners") and not for the other group (the "losers").
A general prohibition against allowing one group to systematically win asymmetric zero-sum games against another group would be a normative principle. So would some elaboration of special exceptions.
incidentally, you use the term 'meaningless' too loosely. Under what philosophical theory does a formalization becomes meaningful depending on who agrees with its "underlying philosophy"?
In the Preface to Game Theory Evolving, economist Herbert Gintis suggested that the mathematical methods of non-cooperative (and cooperative) game theory developed by von Neumann and Morgenstern, Nash and their successors–Gintis among them–have the potential to elevate social and political discourse above ideological debate.
Gintis does not take the step of applying game theory to the topics under discussion--but neither have most of the comments here, with the expected result.
[1] http://publicsphere.org/2014/02/02/the-asymmetric-zero-sum-g...