Industrialization as a proliferation of organizations Historians of the Industrial Revolution have often focused on technological change. As the centuries have passed, details of how technology was invented and commercialized have eroded away, leaving behind a lapidary, stylized story of the triumph of a heroic inventor. Technological change may even
Patent professionals are not infrequently asked to analyze a portfolio of patents and provide an estimate of its quality and valuation. Since there are no standards for patent quality and valuations are idiosyncratic to the details of the needs of particular buyers and sellers, determining patent quality and valuation is
Here's an example of what you'd get if you asked GPT-4 "Please draft a three paragraph argument in favor of open borders": Paragraph 1: Open borders have long been a subject of contentious debate; however, there are compelling reasons to consider the merits of such a policy. The concept of
The Problem of Synchronization argued that: The synchronization of buying and selling is a basic function of markets. Recent events call for an explanation of how synchronization works in banking. In the space of less than three days from March 8 to March 10, Silicon Valley Bank went from a
Would-be inventors are now more likely than ever to spend their time and attention on building new products and services for startups and open source projects rather than filing for patents.
Sometimes you hear people say about a person, they’re “doing God’s work” — an important task ... so complex, that only God himself could hope to ever see it accomplished, a task that anybody else would find too daunting to even dare an attempt. Robert Caro is doing God’s work here.
An advantage of understanding markets as mechanisms for synchronizing production with consumption is that market price signals are not sacrosanct. Other theories of market price signals, such as the efficient market hypothesis, suggest that market price signals reflect perfect information about available supply and demand, leaving little room for the
Markets play an important role in synchronizing the cycles of production of goods and services with the cycles of their consumption.
What brings order to the structure of the universe?