“It has become increasingly evident, at least among those who aren't currency traders or true believers in the optimality of free markets, that it would be nice if this system could calm down a touch. One option is the Tobin tax, which would impose a tax of around 0.1 percent on currency trades, and act as a kind of damper on speculation.”
“Advanced technology is great at tasks such as keeping an airliner flying several thousand feet in the air, but is easily crippled by social complications.”
David Orrell
“The invisible hand is an emergent property of this system, which never reaches an optimal equilibrium, but instead is fundamentally dynamic and unstable, with complex effects on society.”
David Orrell
“Mathematics was not just about keeping track of were the moon was going, but also where the money was going.”
David Orrell
“There is something intrinsically upside down and counter-intuitive in the relationship between money and happiness.”
David Orrell
“A society in which each person is hell bent on maximizing his or her own utility, may therefore have declining overall utility.”
David Orrell