Delayed intervention in the market/politics control loop

I guess the name speaks for its self.

Delayed intervention in the market/politics control loop

Postby jim_lewis1 on Tue Aug 30, 2011 8:20 am

An interesting item highlighting the limited ability of political and social systems to respond to economic events:

MEPs on holiday while the Euro crisis demands immediate political action.

http://www.bbc.co.uk/news/business-14713678
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Re: Delayed intervention in the market/politics control loop

Postby Teiana on Tue Aug 30, 2011 10:09 am

unless we stop using real people, there will always be a time when everyone is on holiday.

option 1 - don't use real people. get some algorithms to figure it all out.
option 2 - use real people who all go on holiday at once - there will always be a time when something happens when they're not there.
option 3 - use real people who don't all go on holiday at once - you end up with an A squad and B squad mentality, whoever is the one who isn't there would be blamed/is there would be blamed..

it's just insane to think there would be a way for people to be in two places at once, so the situation of politics not being able to keep up with economics is unavoidable.

In the olden dayes of course, this is ( i expect) why they invented the idea of a bank holiday - if the banks closed supposedly that shut down the economics, everyone would be able to take a holiday. But in modern times that isn't practical, because of 24hr systems, international stuff, etc.

generally all over i think people in the world ought to change the way they think about things always happening 'on demand'. Some things are better if you wait for them. We do need some things to happen fast - if you call the fire brigade you don't want to be told 'we will email you when your engine is ready to be despatched'... you just want them to set off. But many things don't need to be fast, and we could have a better time of things overall if people were able to see when it mattered and when it didn't. I'm a bit tired of people trying to drive into the back of me because the idea of braking seems alien to them, yet often they're actually going somewhere only a few yards up the road. Or then again, what about laughing at the guy in a neat suit (always seems to be the same guy) who's Running up the escalators in shops....saving perhaps, 5 seconds on their day... i always want to run after them and ask 'what exactly were you planning on doing with the ten seconds you saved there' but i can't, since that would waste more time than they saved...

holidays are important. so is knowing the difference between rushing for a good reason and rushing out of habit or selfishness/me first attitude..
H.R.H. 8-)
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Re: Delayed intervention in the market/politics control loop

Postby jim_lewis1 on Tue Aug 30, 2011 10:41 am

well I posted this more as thought piece, as although one can understand the minister's frustration in some situations some dampening or delay is actully beneficial in the control loop. If politicians had rushed to implement a reaction would it have increased the system instability? These sorts of delays have had to be added to the algorithm approahc precisely becasue automated systems were responding too quickly. As it is, with the MEPs on holiday, the markets seem actually to have stabilised of their own accord anyway,.... for now at least!
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