2 Matching Annotations
  1. Dec 2023
    1. Instead, he lauds the figure of themarket as a knowing entity, envisioning it as a kind of processor of socialinformation that, through the mechanism of price, continuously calcu-lates and communicates current economic conditions to individuals inthe market.

      Is it possible that in this paper we'll see the beginning of a shift from Adam Smith's "invisible hand" (of Divine Providence, or God) to a somewhat more scientifically based mechanism based on information theory?

      Could communication described here be similar to that of a fungal colony seeking out food across gradients? It's based in statistical mechanics of exploring a space, but looks like divine providence or even magic to those lacking the mechanism?

  2. Dec 2022
    1. Burdett (2020) - Technology's Invisible Hand - https://is.gd/klSPxO - urn:x-pdf:8f8574b2595fa7e5270c21a1d3ade6e6