On owning things

Since the Killer Micro Revolutioni, value has drastically shifted away from material items towards ideal items, exactly in the manner the Industrial Revolution shifted value away from agricultural products towards industrial products.

One way to phrase the problem would be that "prices are sticky". More generally - that for a good while the last time this happened people overvalued the old stuff, misrepresenting or outright failing to even represent the change undermining the old value equation. Your average feudal lord was surprised to discover the burgher richer than himself, much for the same reasons Mises would have been surprised had he lived to see me take girls to the river. Much like people today tend to not understand the importance of intangibles.

A fine example of this is the general failure to grasp the overpowering importance of the WoT, as displayed by say Swanson, or Locklin, or the list goes on. Endlessly, on. Another fine example however came to light in chat recently. Like so :

funkenstein_ This guy wrote a couple papers over a year ago, claiming vulns in mining. Totally bogus. If any of you care I can write it up.

mircea_popescu I'd read it.ii

funkenstein_ vixra.org/abs/1504.0072

Friday, 10 April, Year 7 d.Tr.