Archives for posts with tag: Eureka

Science is, above all, a state of mind.
One that posits the world can be understood, one fact at a time.
Science also says that The (complete) Truth will never be fully acquired, only people tend to forget that part.

Some history, first.
Science, as an attitude, had appeared on the shores of the Medieval Mediterranean Sea. The Arabs had just discovered Ancient Greek writings about the ‘natural order of things’ while the Catholics were trying to figure out what God had in mind for the future of the mankind.

We have seen that the laws of nature depend on other laws of nature, which ultimately depend on God’s will.

Put all these together – the wish to understand God’s will, the belief that God’s will is expressed through the natural order of things and the systematic observation of nature, and, Eureka, you have ‘science’.

Which attitude had made Europe what it is today. Both the good and the bad of it.

Europeans have initiated the orderly study of everything around them.
As I said before, the initial intent wasn’t any technological improvement. Technicians and scientists were two completely different breed of people. As in ‘tinkerers’ and ‘philosophers’. Tinkering was sometimes confused with witchcraft while ‘philosophy’ was almost synonym with theology.
Well, both ‘professions’ could lead those to practiced them to a ‘funeral pyre’… whenever either of them ‘trespassed’… Many of those who are able to read are familiar with what ultimately happened to Giordano Bruno but very few of us know the fact that the ‘un-certified healers’ were seen with ‘suspicion’.

“Questioned whether she heals sick persons, answered yes Sir.
Questioned with what kind of medicines, answered by picking betony up and washing it like salad and crushing it into a mortar to get its juice and to give it to her patients for 3, 4 and 5 days, telling them that the more they drunk it, the better it was.
With these words the healer Gostanza da Libbiano, tried for witchcraft in 1594,….”
“The difference between them (healers) and physicians was the specific kind of tasks assigned to doctors: physicians, who rarely touched impurities and who regularly graduated from the university, were believed to be able to make the pain cease, whereas the healer, due to the fact that she actually touched her patients, was able both to make pain cease and to cause it”

Donatella Lippi, Witchcraft, Medicine and Society in Early Modern Europe, 2012

On the face of it, ‘science’ was, and continues to be, declared to depend exclusively on facts. Regardless of those facts being the expression of God’s will or, ultimately, of a serendipitous nature.
In fact, science is about what we, ‘scientists’, have been taught to accept as facts by our teachers and peers.

Another interesting thing.
When most scientists were still believing in God, their natural arrogance was kept in check by their belief that there was somebody who knew more than them. He.
As soon as God was declared dead, all hell broke loose.

‘Practical’ sciences continue to be kept in check by … well… practice! For any engineer, biologist, chemist, physician and all other related scientists and practitioners of science  it is obvious that Karl Popper and Werner Heisenberg were, and continue to be, right. No matter how much we will ever learn, we’ll never be able to know everything. Hence, we should proceed with utmost care.
Those who practice ‘secondary degree’ sciences – sci-Po being the most obvious example, share the belief that the world can be learned but are enjoying a far longer ‘leash’. Simply because the consequences of their actions come a lot later than those experienced by the ‘practical sciences’ practitioners. Add the fact that the ‘effects’ are harder  pinpoint to one specific cause/action…
And since God has become, at most, a personal matter… he no longer exerts the taming influence it used to…
Science has become independent. It is practiced for/in its own right, not as the only available manner of ‘divining’ God’s Will.
In fact, we use science as a manner to design our future. Independently. As each of us see fit and as allowed by those around us.
Which is good. Attempting to learn before proceeding is commendable, of course.
But proceeding with the unshakeable belief that we already know everything about what lies ahead of us is… foolish. Even more so when we speed up…  with total disregard about what other people, our colleagues/peers/fellow human beings, have to say and/or feel about the whole thing. Because we momentarily can.

 

This rule of thumb is also known as ‘Gresham’s Law’

At the core of Gresham’s law is the concept of good money versus bad money. The law holds that bad money drives out good money in circulation. Bad money is then the currency that is considered to have equal or less value compared to its face value. Meanwhile, good money is currency that is believed to have greater value or more potential for greater value than its face value. One basic assumption for the concept is that both currencies are equally liquid and available for use simultaneously. Logically, consumers will choose to use bad money over good money because good money has the potential to be worth more than its face value.”

‘Concept’, ‘the law holds’, ‘is considered’, ‘value’, ‘compared’, ‘is believed’, ‘assumption’, ‘logically’…
So. The way I see it, ‘Gresham’s Law’ is about people interacting according to their own ‘impressions’, ‘drives’ and ‘internal logic’.

But wait. Things are far more interesting than ‘commoners’ hoarding the potentially more valuable coins, when having the ‘opportunity’ to choose between good and bad money.

“The minting of coins provides the most basic example of Gresham’s law applied. In fact, Gresham’s law itself was built around the minting of coins and Gresham’s service to Queen Elizabeth I of England. Sir Thomas Gresham lived from 1519 to 1579, working as a financier serving the Queen and later founding the Royal Exchange of the City of London. Henry VIII had changed the composition of the English shilling, replacing a substantial portion of the silver with base metals. Gresham’s consultations with the Queen explained that consumers were aware of the change and began separating the English shilling coins based on their production dates to hoard the coins with more silver which, when melted down, were worth more than their face value.”

In fact, Gresham’s Law is about ‘commoners’ reacting in a logical manner whenever the powerful had tried to ‘trick’ the less powerful into accepting less valuable coinage.

Let’s examine the situation from another angle.

Gold and silver had been used to make coins for a number of reasons.
Both were rare enough to maintain their perceived value no matter how much of them might have been ‘suddenly’ discovered. For example, the Spaniards had brought shiploads of precious metals into Europe from South America without creating much ‘inflation’.
They, individually and or alloyed, were soft enough to be minted using primitive technology. The oldest coins made of precious metals go back almost 3000 years
Both gold and silver are impervious to the passage of time. That being the motive for those coins having survived for so long.

For these three reasons gold and silver had been the obvious choices when people had realized they needed a ‘technology’ for making payments and for preserving and transporting value.

In reality, this is the intrinsic logic for which gold and silver had been valuable for us. They had represented the most convenient manner of making payments and for transporting/preserving value. As metals, gold was basically useless until the advent of microelectronics while silver had become really useful only after Daguerre started using it to make primitive photographs.

So. Ancient people had discovered that by using gold and silver coins they could vastly accelerate their economies. The most interested being, of course, the powerful of the day.
The rulers. Those who had the means and the authority to mint.
Some of whom also had the gumption to mess with the whole process. For their own profit, of course. Why do you think Hieron, the King of Syracuse, had hired Archimedes to determine whether a piece of metal – a crown, but the shape had no real meaning, was made of pure gold – as the goldsmiths pretended, or not?

Instead of a conclusion.
Since the start of time, some people have tried to swindle the others. No matter how high their position on the social ladder. And the rest have tried to protect themselves. Or, sometimes, even to emulate the ‘bad’ behavior.

This being the beauty of the free market.
Whenever a market is truly free, the reasonable people naturally weed out the swindlers.
Whenever the swindlers happen to have the upper hand, the rest have no other option but to follow suit. To hoard the ‘good’ money.
The consequence being the slowing down of the economic cycle. To the ultimate ‘bad’ of everybody. The swindlers included. And their children/suitors!

 

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