So, this can apply to engineering in a manner that would remind us that the supply-chain model has many assumptions about which we need to be careful. To the managers of any project: you cannot get anything better (assuming that you can - another adage deals with the greener grass syndrome) without paying (that is, your AAHs (NoooPs) are not free, and, as we see, you pay in many ways other than money and time - remember that reputation and good can also in the list of payables). But, let's defer this discussion to a later date.
There is too much on the financial plate to cover yet. Airplanes and other physical products can be tested in the real world; progress there comes with sweat that is measurable. In the market, we have all sorts of uses of 'free' which is very problematic.
Like, free market (start with the criticisms) or free trade or ... It's rather ironic to hear a market type (for example, those who are CBOE-ing) say that there's no free lunch, yet arguing at the same time for a free market. Sometimes one wonders if 'free' in this context means to be unburdened by any type of constraint that would enhance transparency.
Sheesh, nothing is 'free' ought to be the adage.
Except we see this: some one thing may be 'free' to some party, yet a proper accounting will show that someone, somewhere pays. In the market, we see the greased slide of monies from the pockets of the hapless to the pockets of those who are 'free' to exploit the situation. Even that 'greased slide' is not free; by the way, the hapless pay more for it than do others.
As a reminder, this blog deals with how 'oops and loops lead to oops. Well, how many oops have we seen in the financial realm of late? And, proper analysis will show a steady movement toward instability through decisions of the past few decades.
We can go back all the way to 1973 and CBOE's introduction of the option market; yet, we can go back further. But, that may be immaterial, as understanding what the basic issue is so as to know how to cope can take a message from Markov. In short, it doesn't matter how we got to where we are, future states and decisions are based on what we know and do now.
Remarks:
10/26/2010 -- Adam knew the failings of 'free markets' quite well.
11/20/2009 -- It's near-zero.
11/06/2009 -- There ain't no train, just like there ain't no free lunch (TANSTAAFL).
09/09/2009 -- To look at some issues addressed here, we'll need to consider Alan's reign.
08/10/2009 -- As promised, FEDaerated is here.
12/18/2008 -- Fairy dusting continues with made-off results. But, we can construct with robust methods, including leveraging.
Modified: 10/26/2010
11/06/2009 -- There ain't no train, just like there ain't no free lunch (TANSTAAFL).
09/09/2009 -- To look at some issues addressed here, we'll need to consider Alan's reign.
08/10/2009 -- As promised, FEDaerated is here.
12/18/2008 -- Fairy dusting continues with made-off results. But, we can construct with robust methods, including leveraging.
Modified: 10/26/2010
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