In any case, reading summaries (and occasionally following up by reading the full article) is more enjoyable and you learn more per unit of time. Most articles are mostly garbage. And even insightful and informative articles can often be compressed with minimal loss of conveyed insight and information. Typical example is some of Paul Graham essays (I say some because only some are worth reading).
It is also totally wrong. I got to the third block and quit, as this is just an LLM bullshit version of the 18th century bullshit fantasy of the origin of money (see David Graeber's Debt).
You can't describe how various forms of monetary value work in the modern monetary system as if it were a rural village with physical items, because it is fundamentally different.
I’m happy to hear criticism and to learn from that, but I wrote this myself. Took quite a while.
Re: why, I don’t think most people understand the very basics of the global economy in mechanical terms, and this was my attempt to explain those mechanics. I wanted the various pieces of the system to be motivated by understandable problems, hence the fable-like story.
I now see some folks were triggered by this stylized approach. Which is a pity. I think the simple setup is worth the payoff. My explanation of money creation, for example, matches the Bank of England’s whitepaper, and I am especially pleased with how the idea of a reserve currency both develops naturally and rhymes with earlier ideas lower in the hierarchy.
I'm sure Graeber is right about the ahistoricity of the orthodox just-so story of money, but I've always wondered if perhaps he misread the kind of claim that story is actually making.
What if economists don't really intend to make a factual historical claim? What if it's more like the principle of virtual work, if you take the analogy? What if it's saying, look, here are two possible configurations of the world: one with barter and one with monetary exchange. One of these configurations is "more stable" than the other. That's a reasonable explanation for "why" we use money, if you read "why" in a non-causal way.
Or maybe economists are straightforwardly careless historians. I don't know!
Your article was well worth the read. Thank you for that. It's merely a HN trend where lazy people who can't read an article bad-mouth it as AI. You'll find the lazy AI comment in every article's top first or second comment now. Don't bother justifying yourself, keep it up and keep writing.
I wouldn't say that it's the stylized approach tbh, but rather the lack of it?
Not to attack you, but it reads like a sudden unexpected glossary section. For which there is a place in the world, but only if it is expected (hence the opener).
If the goal was to have an explainer for people about stuff that most get wrong, then I think an opener alone would not be enough, though. For that, it's probably far too densely written. It could also use some illustrations for that (albeit that's optional. Engaging textbooks also do well without).
Truth be told, it does to me read more like an intellectual achievement you're proud of and not like a piece to in any way serve an audience.
Then again, if that was to be the goal, I agree that the fundamentals would be there; just waiting to be shuffled around a bit and be embedded into a context that pulls the reader's brain along the path you want them to follow.
Your attitude is why even short videos shared on social media today begin with a few seconds showing the "payoff" of the video.
The risk of having your time wasted is an inherent part of consuming creative works; it makes things more enjoyable when the gamble pays off (dopamine is triggered via reward prediction error). A life where you only consume media with accurately predicted positive utility would be devoid of joy.
So I'd say if you want to know the narrative, what it wants to tell you, and why, simply read it. Take the gamble that it may suck, you'll enjoy it more if it doesn't.
But also, to avoid being a jerk: it's a piece that attempts to explain the modern global economic system (and the implications of USD being the global reserve currency specifically) from first principles using simple prose, where each "chapter" introduces a new layer of complexity.
> Your attitude is why even short videos shared on social media today begin with a few seconds showing the "payoff" of the video.
Nah, you've missed my point and replaced it with some other gripe you have with the current world.
These attention deficit previews are something else entirely from what I said.
OP wrote an article that jumps in with a list, but it should've jumped in with "In the following paragraphs, I will explain this for that reason, because I think that XYZ". (Edit: Which, the LLM just reminded me, is simply an abstract)
It simply lacks an opener.
(And in addition, it lacks flow between these individual sections, but that could be okay if the opener handles that problem)
hypfer · · focus · HN ↗
There might be a point in there, but it might also just be paragraphs of text with little structure joined together.
What's the narrative? What does this want to tell me? And why?
Something like an opening header block with 2-5 sentences would go a long way.
RivieraKid · · focus · HN ↗
hypfer · · focus · HN ↗
Also, you can often derive the what if you know the why and just follow the thread and map it out.
pasquinelli · · focus · HN ↗
RivieraKid · · focus · HN ↗
In any case, reading summaries (and occasionally following up by reading the full article) is more enjoyable and you learn more per unit of time. Most articles are mostly garbage. And even insightful and informative articles can often be compressed with minimal loss of conveyed insight and information. Typical example is some of Paul Graham essays (I say some because only some are worth reading).
jubilanti · · focus · HN ↗
You can't describe how various forms of monetary value work in the modern monetary system as if it were a rural village with physical items, because it is fundamentally different.
hyperhello · · focus · HN ↗
gwgundersen · · focus · HN ↗
Re: why, I don’t think most people understand the very basics of the global economy in mechanical terms, and this was my attempt to explain those mechanics. I wanted the various pieces of the system to be motivated by understandable problems, hence the fable-like story.
I now see some folks were triggered by this stylized approach. Which is a pity. I think the simple setup is worth the payoff. My explanation of money creation, for example, matches the Bank of England’s whitepaper, and I am especially pleased with how the idea of a reserve currency both develops naturally and rhymes with earlier ideas lower in the hierarchy.
jasonwatkinspdx · · focus · HN ↗
throwaway_7274 · · focus · HN ↗
What if economists don't really intend to make a factual historical claim? What if it's more like the principle of virtual work, if you take the analogy? What if it's saying, look, here are two possible configurations of the world: one with barter and one with monetary exchange. One of these configurations is "more stable" than the other. That's a reasonable explanation for "why" we use money, if you read "why" in a non-causal way.
Or maybe economists are straightforwardly careless historians. I don't know!
rdsubhas · · focus · HN ↗
aorloff · · focus · HN ↗
Money is about trust, not about the problems of bartering
akoboldfrying · · focus · HN ↗
hypfer · · focus · HN ↗
Not to attack you, but it reads like a sudden unexpected glossary section. For which there is a place in the world, but only if it is expected (hence the opener).
If the goal was to have an explainer for people about stuff that most get wrong, then I think an opener alone would not be enough, though. For that, it's probably far too densely written. It could also use some illustrations for that (albeit that's optional. Engaging textbooks also do well without).
Truth be told, it does to me read more like an intellectual achievement you're proud of and not like a piece to in any way serve an audience.
Then again, if that was to be the goal, I agree that the fundamentals would be there; just waiting to be shuffled around a bit and be embedded into a context that pulls the reader's brain along the path you want them to follow.
JimTheMan · · focus · HN ↗
Aramgutang · · focus · HN ↗
The risk of having your time wasted is an inherent part of consuming creative works; it makes things more enjoyable when the gamble pays off (dopamine is triggered via reward prediction error). A life where you only consume media with accurately predicted positive utility would be devoid of joy.
So I'd say if you want to know the narrative, what it wants to tell you, and why, simply read it. Take the gamble that it may suck, you'll enjoy it more if it doesn't.
But also, to avoid being a jerk: it's a piece that attempts to explain the modern global economic system (and the implications of USD being the global reserve currency specifically) from first principles using simple prose, where each "chapter" introduces a new layer of complexity.
hypfer · · focus · HN ↗
Nah, you've missed my point and replaced it with some other gripe you have with the current world.
These attention deficit previews are something else entirely from what I said.
OP wrote an article that jumps in with a list, but it should've jumped in with "In the following paragraphs, I will explain this for that reason, because I think that XYZ". (Edit: Which, the LLM just reminded me, is simply an abstract)
It simply lacks an opener. (And in addition, it lacks flow between these individual sections, but that could be okay if the opener handles that problem)
rdsubhas · · focus · HN ↗
Edit: typo
wpm · · focus · HN ↗