1:22:50 it’s because human consciousness or another way of stating this is human choice is another force in addition to life itself that resists entropy
One of my favorite YT videos is of a young woman who has inherited a painting and takes it to antique roadshow where she finds out it is worth a lot of money. She says something like, "i can't just hang it up again.". The information she obtained is life changing, and kind of sad. She literally does not have the resources to keep the painting, which has emotional value to her
Fascinating idea of price as universal language as it allows expression of alleotropic and noise uncertainty. Points also that waste, as heat, is immeasurable and a form of externality. Some of it is unavoidable increased knowledge through measurement allows price efficiency.
Somehow, though, wealth creation that arises from a new product like iPhone seems inherently anti-entropic. Of course, the generation of energy always leads to some remnant of entropy. Very curious.
Yes entropy is a concept heavily ingrained in economics. For example, getting natural resources out of the ground. In ecological economics, there is an idea called Energy Return On Investment (EROI) which shows you the amount of energy you need to put in so that you can acquire let’s say 100 barrels of oil for example. As we continue to dig, it becomes a more complex operation to extract oil deeper underground and you need new rigging technology. Entropy is also related to transactions in terms of the number of steps it takes to exchange. The more complex it is to trade as such, it means only those with the Information in the market, the know-how, can process that transaction. To see how information and entropy are linked in fundamental ways, watch Chris Fields’ lecture on Physics as Information Processing.
Consider entropy as information. Information only occurs as a counterfactual. For example, a lamp is not a signal if it is only ON. Information, like a lamp, only exists as a counterfactual. Price as an opportunity cost is also a counterfactual. Therefore price has an equivalence with entropy.
From a human perspective you might see counterfactuals as alternatives. From a thermodynamic perspective as degrees of freedom. Interesting, system control perspective is degrees of freedom as choice.
Wittgenstein and Popper agreed that philosophising about things like subjectivity is pointless. What matters is problem solving. Therefore generalizing about value outside of problem context may be aimless.
While watching Graham Hancock's documentary on Netflix, "Ancient Apocalypse, " it will occur in your mind the question of whether the human groups spread across distinct regions around the earth, became a "global human population," by gaining awareness of each other through telepathy or collective consciousness. Do you know what I mean? Now we associate global identity for humans to be the product of increasing communication and connectivity, but what if the very 1st time humans became global was because of connectivity in their minds alone? Both global and collective consciousness arose and they all decided to build pyramids or buildings out of stone, for some reason. They learned the necessary skills from collective consciousness or this form of communication.
Awesome collaboration
1:22:50 it’s because human consciousness or another way of stating this is human choice is another force in addition to life itself that resists entropy
One of my favorite YT videos is of a young woman who has inherited a painting and takes it to antique roadshow where she finds out it is worth a lot of money. She says something like, "i can't just hang it up again.". The information she obtained is life changing, and kind of sad. She literally does not have the resources to keep the painting, which has emotional value to her
Marcus!
Nate! (or shari or Luke or whoever it is)
@@marcusshera1232 It was Nate.
59:00
Value is purely subjective only if you are willing to scale that all the way up to the value of human life
Fascinating idea of price as universal language as it allows expression of alleotropic and noise uncertainty. Points also that waste, as heat, is immeasurable and a form of externality. Some of it is unavoidable increased knowledge through measurement allows price efficiency.
I wonder if entropy is related to transaction costs.
@@chrishoward8473 Super interesting idea. I’m going to think about it. Entropy is related to cost, for sure.
Somehow, though, wealth creation that arises from a new product like iPhone seems inherently anti-entropic. Of course, the generation of energy always leads to some remnant of entropy. Very curious.
Yes entropy is a concept heavily ingrained in economics. For example, getting natural resources out of the ground. In ecological economics, there is an idea called Energy Return On Investment (EROI) which shows you the amount of energy you need to put in so that you can acquire let’s say 100 barrels of oil for example. As we continue to dig, it becomes a more complex operation to extract oil deeper underground and you need new rigging technology.
Entropy is also related to transactions in terms of the number of steps it takes to exchange. The more complex it is to trade as such, it means only those with the Information in the market, the know-how, can process that transaction.
To see how information and entropy are linked in fundamental ways, watch Chris Fields’ lecture on Physics as Information Processing.
@@Alex-ht1oq Yes, I watched his lectures last year. Thanks for the info on EROI.
Consider entropy as information. Information only occurs as a counterfactual. For example, a lamp is not a signal if it is only ON. Information, like a lamp, only exists as a counterfactual. Price as an opportunity cost is also a counterfactual. Therefore price
has an equivalence with entropy.
@@ragnarherron7742 Would you say then that “choice” is required to establish something as a counterfactual?
From a human perspective you might see counterfactuals as alternatives. From a thermodynamic perspective as degrees of freedom. Interesting, system control perspective is degrees of freedom as choice.
@@ragnarherron7742 Glen, my physicist/computer science collaborator, sees computation as a symphony of choices over time.
Wittgenstein and Popper agreed that philosophising about things like subjectivity is pointless. What matters is
problem solving. Therefore generalizing about value outside of problem context may be aimless.
If entropy is gravity that would be informative to Penrose solution to quantum superposition, since he claims gravity is the reason for wave collapse.
While watching Graham Hancock's documentary on Netflix, "Ancient Apocalypse, " it will occur in your mind the question of whether the human groups spread across distinct regions around the earth, became a "global human population," by gaining awareness of each other through telepathy or collective consciousness. Do you know what I mean? Now we associate global identity for humans to be the product of increasing communication and connectivity, but what if the very 1st time humans became global was because of connectivity in their minds alone? Both global and collective consciousness arose and they all decided to build pyramids or buildings out of stone, for some reason. They learned the necessary skills from collective consciousness or this form of communication.