But it's certainly an education to watch a gigantic financial panic in real time. I look outside, and the sun is shining. The world still has all the same people and buildings and cars and factories—i.e., it's not like we've just suffered from a virulent plague or half the planet's been destroyed by bombs. And yet we really may all become much poorer for the next ten years.
-Jonathan Schwarz
The phrase to be chiseled on the grave of our current economic order is "too big to fail." Did it not strike you as odd, back when it was first being tossed around, that scale was taken as the analogue of necessity? There's a basic human bias that equates largeness with importance, and by extension with endurance. I see no reason at all to believe this is universally, or even generally, true. Wouldn't the better phrase be "too unwieldy to succeed"? We live in the Cenozoic era, after all, and the natural truth of our current world is that big, lumbering things tend toward extinction at the slightest change in the weather.
15 comments:
I have a plastic megatherium on my desk that I've had since I was 7 or so.
GET OUT OF MY HEAD!!!!
But it's so warm.
There's a basic human bias that equates largeness with importance, and by extension with endurance. I see no reason at all to believe this is universally, or even generally, true.
Obviously, you have never experienced the marvel that is my wang.
there never was any money. the old man gave me an empty briefcase, man, take it up with him!
Take that, subspace.
idiots. ginormity ain't got much ta do with redundancy.
To be fair to big lumbering things, many of them made it through the last ice age just fine until they ran into us over-evolved monkeymen.
The hypothesis that overhunting killed off large North American mammals is pretty thoroughly discredited at this point. Humans may have contributed, but weren't the proximate cause.
IOZ, we're supposed to take your word for that over wikipedia?
http://en.wikipedia.org/wiki/Quaternary_extinction_event
Did it not strike you as odd, back when it was first being tossed around, that scale was taken as the analogue of necessity?
Odd? No. Remember that we're talking about democracy here. "Too big to fail" is thus translated as "Too popular to vote against", which is practically an oxymoron.
The hypothesis that overhunting killed off large North American mammals is pretty thoroughly discredited at this point.
Discredited by whom? Plenty of North American megafauna survived long after the ice age was over on various neighboring islands, only to go extinct a couple thousand years later once humans settled there, including species of ground sloth.
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