The Hermeneutical Invasion

In recent years, economists have invaded other intellectual disciplines and, in the dubious name of “science,” have employed staggeringly oversimplified assumptions in order to make sweeping and provocative conclusions about fields they know very little about. This is a modern form of “economic imperialism” in the realm of the intellect.

Strip Searching the Inmates

WorldNetDaily.com is reporting that the House has passed a bill that appears to allow strip searches of public school students in order to “ensure that classrooms, school buildings, school property and students remain free from the threat of all weapons, dangerous materials, or illegal narcotics.” I guess one shouldn’t be shocked that the inmates might end up subjected to unconstitutional searches.

Economics and the Technological Singularity

Let an ultraintelligent machine be defined as a machine that can far surpass all the intellectual activities of any man however clever. Since the design of machines is one of these intellectual activities, an ultraintelligent machine could design even better machines; there would then unquestionably be an ‘intelligence explosion,’ and the intelligence of man would be left far behind. Thus the first ultraintelligent machine is the last invention that man need ever make.

The Antifederalists Were Right

The Antifederalists were opponents of ratifying the US Constitution. Gary Galles writes that they feared that it would create an overbearing central government, while the Constitution’s proponents promised that this would not happen. As the losers in that debate, they are largely overlooked today. But that does not mean they were wrong or that we are not indebted to them.

Flow of Funds Report Show U.S. Imbalances Worse Than Ever

A few days ago, the Federal Reserve released the latest flow of funds report. It shows in short that the imbalances of the U.S. economy are getting worse than before and that the imbalances were worse before than was previously thought.Household debt for the first quarter were upwardly revised from the $11840.1 billion assumed in the previous release to $12099.3 billion. Moreover the report show that debt rose a further 2.27% to $12373.5 billion.