Pseudorandom Bits

A backwater in the vast ocean of thought

  • Pseudorandom?

    The Web is made of bits. Here are some of my bits, added to those other bits. Bits of information, bits of my thoughts, bits of others' thoughts. Maybe they seem a bit random, but, who knows?

    "There must be some bits here somewhere."

  • Recent Posts

  • Recent Comments

    Scruff on Multiplication with lines
    Mike on Closer to the record
    jeff on Closer to the record
    Mike on Multiplication with lines
    acook on Multiplication with lines
  • About blogging

    "If you have a computer and can fog a mirror, you can post anything on the Internet." - Lars Mahinske
  • "You can see by my outfit that I am a blogger. If you buy an outfit, you can be a blogger, too!" (With not many apologies to "The Cowboy's Lament" and The Smothers Brothers.)
  • "We've all heard that a million monkeys banging on a million typewriters will eventually reproduce the entire works of Shakespeare. Now, thanks to the Internet, we know this is not true." - Robert Silensky
  • Link-by date

    Links to sites were good at the time they were posted, but they may have gone stale. If a link is broken, you might try searching the appropriate web site or using a web search engine.
  • Viewer caution

    Since some links are to news, commentary, or other sites, some content may not be appropriate for younger audiences. Viewer discretion is advised.
  • You should know

    Jesus said to him, "I am the way, and the truth, and the life; no one comes to the Father but through Me." John 14:6 (NASB)
  • But God demonstrates His own love toward us, in that while we were yet sinners, Christ died for us. Romans 5:8 (NASB)
  • "For what shall it profit a man, if he shall gain the whole world, and lose his own soul?" Mark 8:36
  • Advertisements

Posts Tagged ‘consequences’

No one knows how to make a pencil

Posted by Mike on February 18, 2013

That is, no single person knows how to make the basic yellow pencil tipped with an eraser.

That’s one reason economics is a difficult area of research, and why it is hard for any group of people (i.e. governments) to control economies.

The next time you hear politicians talk about controlling an economy, or even part of one, realize that they can’t.  They can influence it, but they often miss the unintended consequences.  Carrots and sticks in an economy can do unforeseen and often undesirable damage.  Incentives work, just not always in the ways we intend or anticipate.

Read “I, Pencil” by Leonard Read, a classic article on economics.  Or read an enhanced page with commentary on the article

Also watch the movie.



Posted in Uncategorized | Tagged: , , , | Leave a Comment »