Say anything quotes9/1/2023 This game enables them to make audiences, charismas, levels of prestige and the market prices of images dance up and down with an intolerable facility. Unbeknownst to the experts who scrutinize them and the manipulators who believe they can influence them, they have grasped the fact that politics is virtually dead, and that they now have a new game to play, just as exciting as the ups and downs of the stock market. Where the masses once sported with their voluntary servitude, they now sport with their involuntary incertitude. Their abstention and their silence are no longer determining factors (that stage was still nihilistic) what counts now is their use of the cogs in the workings of uncertainty. Today, however, the masses act not by deflection but by infection, tainting opinion polls and forecasts with their multifarious phantasies. Their silence was the crucial fact for an earlier generation. “Once upon a time there was much talk of the apathy of the masses. Manias, Panics, and Crashes: A History of Financial Crises For those who yearn for numbers, standard series on bank reserves, foreign trade, commodity prices, money supply, security prices, rate of interest, and the like are fairly readily available in the historical statistics.” Econometricians among my friends tell me that rare events such as panics cannot be dealt with by the normal techniques of regression, but have to be introduced exogenously as "dummy variables." The real choice open to me was whether to follow relatively simple statistical procedures, with an abundance of charts and tables, or not. Catastrophe mathematics, dealing with such events as falling off a height, is a new branch of the discipline, I am told, which has yet to demonstrate its rigor or usefulness. It might be useful to some readers, but not to me. A colleague has offered to provide a mathematical model to decorate the work. “This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new economic history." A man does what he can, and in the more elegant - one is tempted to say "fancier" - techniques I am, as one who received his formation in the 1930s, untutored.
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