About jukka aakula

Interested in web services, evolution, antropology, evolutionary psychology, economics, religion, history

Public Notes


Recent Activity

  • jukka shared from European Spring: Why Our Economies and Politics are in a Mess - and How to Put Them Right by Philippe Legrain
    Many others took a moralistic view that debt contracts were sacrosanct. But they aren’t. Money is lent in the expectation of it being returned with interest, but with the risk that it won’t. That is why lenders charge a risk premium. Sometimes people default on their mortgages. Sometimes companies go bankrupt. And sometimes governments don’t pay their debts in full. (In fact, governments do this all the time: they erode their debts through inflation and, in the case of foreign creditors, currency depreciation – as anyone who holds a US Treasury bond knows all too well.) It is perfectly...
    Note: pointti Kreikasta ja sille rahaa lainanneista pankeista jotka ovat halunneet riskien sosialisointia
  • jukka shared from War: What is it good for?: The role of conflict in civilisation, from primates to robots by Ian Morris
    “It is not from the benevolence of the butcher, the brewer or the baker that we expect our dinner,” Smith observed, “but from their regard to their own interest.” “By directing [his] industry in such a manner as its produce may be of the greatest value,” Smith explained, a man “intends only his own gain; [but] he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention … By pursuing his own interest, he frequently promotes that of the society more effectually than when he really intends to promote it.” The implication was...
    Note: kiitos hallitukselle etta saamme tod.nak. enemman mrkkinataloutta. Turvatakuut kun viela saisi.
  • jukka shared from Antifragile: Things that Gain from Disorder by Nassim Nicholas Taleb
    After more than twenty years as a transactional trader and businessman in what I called the “strange profession,” I tried what one calls an academic career. And I have something to report—actually that was the driver behind this idea of antifragility in life and the dichotomy between the natural and the alienation of the unnatural. Commerce is fun, thrilling, lively, and natural; academia as currently professionalized is none of these. And for those who think that academia is “quieter” and an emotionally relaxing transition after the volatile and risk-taking business life, a surprise:...
    Note: raha tekee ihmiset paremmiksi ainakin kuin yliopisto
  • jukka shared from Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy by Francis Fukuyama
    while variation in biological evolution is random, human beings exercise some degree of agency over the design of their institutions. It is true, as authors like Friedrich A. Hayek have argued, that human beings are never knowledgeable or wise enough to be able to predict the outcomes of their efforts to design institutions or plan policies with full ex ante knowledge of the results.1 But the exercise of human agency is not a one-shot affair: human beings learn from their mistakes and take actions to correct them in an iterative process. The constitution adopted by the Federal Republic of Germany...
    Note: Heavy book but five stars
  • jukka shared from Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy by Francis Fukuyama
    While Sweden and Denmark fought large numbers of wars in the early modern period, their neighbors Norway, Finland, and Iceland did not, and yet all have very similar clean governments today.
    Note: check the details e.g. about Finland @FukuyamaFrancis
(Helsinki, Finland)
jukka aakula