Tuesday , November 5 2024
Home / Mike Norman Economics / “The purpose of a system is what it does”

“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.

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Jodi Beggs writes Economists Do It With Models 1970-01-01 00:00:00

John Quiggin writes Monday Message Board

Mike Norman writes 24 per cent annual interest on time deposits: St Petersburg Travel Notes, installment three — Gilbert Doctorow

Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten


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.

Leave a Reply

Your email address will not be published. Required fields are marked *