04:13:31
##forth
<nmz>
my answer is russia
04:30:25
##forth
<nmz>
nobody knows how the economy works, if anybody did, they'd be rich
04:30:47
##forth
<nmz>
hell, warren buffets company cheats as well
04:31:04
##forth
<nmz>
berkshire hathaway pulls insider trading
12:09:44
##forth
<xentrac>
veltas: probably around the 01950s, yes
12:10:20
##forth
<xentrac>
KipIngram: "cheap is good" vs. "durable is good" largely depends on your discount rate
12:11:02
##forth
<xentrac>
aluminum wiring needs aluminum-wiring-safe connectors
12:12:29
##forth
<xentrac>
Zarutian_iPad: aluminum is the only conductor in basically all electrical transmission and distribution lines (because it's not just cheaper but also lighter)
12:26:42
##forth
<veltas>
nmz: This "nobody knows how the economy works" thing is interesting given even the current system is an approximation of what we did in the 1600's and it's not changed in all that time
12:26:57
##forth
<veltas>
And that's an approximation/variation of how it worked 4000+ years ago, maybe longer
12:27:50
##forth
<veltas>
My mates in the Gobekli Tepe Stock Exchange said so
12:28:45
##forth
<xentrac>
:-D
15:57:20
##forth
<zelgomer>
nmz: there are a lot of people who understand economics. just because you don't does not mean nobody does.
16:45:19
##forth
<KipIngram>
I think the banking industry works quite a lot differently from the way it did then.
16:45:34
##forth
<KipIngram>
There was probably just as much abuse back then as now, but I suspect it operated in a different way.
16:45:56
##forth
<KipIngram>
Today we have reserve banking, and that wasn't a thing back then.
16:46:31
##forth
<KipIngram>
But yeah, "the market" as an idea is the same kind of thing.
18:02:23
##forth
<veltas>
KipIngram: There's more flexibility today, and more ways we've allowed 'debt' to exist, but fundamentally I don't think it's changed
18:02:55
##forth
<veltas>
There's a surprising amount of continuity
18:13:30
##forth
<thrig>
the Rosetta Stone, among other things, is about debt relief
18:16:18
##forth
<Zarutian_iPad>
to a cult iirc
21:26:47
##forth
<nmz>
zelgomer: Oh I clearly don't understand economics, but I also know that other people don't