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“The purpose of a system is what it does”

Summary:
Backgrounder at wiki here.This is good to keep in mind when you are tempted to attribute non-optimal outcomes to a "neo-liberal conspiracy!" theory.From Systems Theory: The purpose of a system is what it does (POSIWID) is a systems thinking heuristic coined by Stafford Beer.  This is a basic dictum. It stands for bald fact, which makes a better starting point in seeking understanding than the familiar attributions of good intention, prejudices about expectations, moral judgment, or sheer ignorance of circumstances.  The term is widely used by systems theorists. It is generally invoked to counter the notion that the purpose of a system can be read from the intentions of those who design, operate, or promote it.

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Backgrounder at wiki here.

This is good to keep in mind when you are tempted to attribute non-optimal outcomes to a "neo-liberal conspiracy!" theory.

From Systems Theory:

The purpose of a system is what it does (POSIWID) is a systems thinking heuristic coined by Stafford Beer. 
This is a basic dictum. It stands for bald fact, which makes a better starting point in seeking understanding than the familiar attributions of good intention, prejudices about expectations, moral judgment, or sheer ignorance of circumstances. 
The term is widely used by systems theorists. It is generally invoked to counter the notion that the purpose of a system can be read from the intentions of those who design, operate, or promote it.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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