The error you make is humanist. That man could defeat the inviolable Invisible Hand is the impossible goal of all humanist religions that have names such as Communism, Socialism, Fascism, Totalitarianism, etc.. Enjoy the futility (and mega-death of the deviation error from fitness due to top-down control).

This has already been refuted (by Lindsey Lamport and other Byzantine fault tolerance researchers) because the speed-of-life is not infinite, thus no perspective can be a total ordering. Or stated another way, due to the delay of propagation of information there will exist a plurality of arbitrary perspectives none of which are a total ordering.

Sorry. It is impossible to argue with that truth.

But my pragmatism is, damn the torpedoes and cover thy eyes, ears, and logic. Buy the dips with your student lunch allowance!

thaanos now you are articulating why the Invisible Hand never dies, that is the entropy of the Universe is unbounded because otherwise the speed-of-light would be infinite (and then we could not exist in the first place because the past and future would collapse into an infinitesimal point).

Everyone is a top-down controller of something, but nothing is in control of everything.

Folks don't limit your thought process to one perspective of an artifact of the Invisible Hand. It is never standing still and if it has moved on, you need to move on too in order to see the new economic opportunities.

The Invisible Hand by definition exists outside any perception of it. It is the universal trend of entropy to maximum (unbounded) in the Second Law of Thermodynamics, which even Einstein stated was the most fundamental law.

By observing we alter the results.  Thing is the FED thinks it can manipulate the economy successfully and so change natural events but I believe they are ultimately merely going to observe a return to the mean despite their best efforts.      I think we follow highly predictable patterns even after all our changes through the years we remain basically the same in human activity though it might be as complex as a fractal the economy does still follow the same principals laid down hundreds of years ago which wasnt our invention really just conclusions on the natural flow of business etc.
Apologies if I misunderstood the point and I understand humans can defy gravity but they dont stop it being a consistent force and I think economies follow similar practise

If AI progresses to the point where it can model and predict human economics it would rapidly replace humans as primary economic decision makers. However, rather then a single central AI I suspect you would see multiple AI's managing the economics of corporations and even households. The artificial intelligences would presumably not be able to fully model the behavior of other AI's due to processing power limitations. Thus equilibrium would again be obtained by a multitude of actors (this time artificial) working towards their individual goals and walking towards  equilibrium as if guided by an invisible hand.

This has already been refuted (by Lindsey Lamport and other Byzantine fault tolerance researchers) because the speed-of-life is not infinite, thus no perspective can be a total ordering. Or stated another way, due to the delay of propagation of information there will exist a plurality of arbitrary perspectives none of which are a total ordering.

Sorry. It is impossible to argue with that truth.

But my pragmatism is, damn the torpedoes and cover thy eyes, ears, and logic. Buy the dips with your student lunch allowance!

Yes

So asymptotically this process will ultimately lead to actors that reach equilibrium in a single step, ergo Central Planner, and no more walking by Invisible hand. If you don't accept this then you accept that the model can't work as in case 1

This is a path that will most likely be taken before AI models human economics starting from shop bots, or trading agents. But there is an inflexion point. Up to this point AI will be simple following the wishes of the actor and understood by it but still susceptible to gaming it, so the hand may have its bot helpers for faster convergence, but will not be "Invisible". However after the inflection point where we cant understand AI but they us, the strategy AI will choose cannot be determined, Agents may choose to disregard a local search for equilibrium and opt to distributedly compute an optimum equilibrium.

If we reach that inflection point however is open to debate.

This is the essence of the debate I was having with professor JorgeStolfi (which I had to put on temporary hold).

this really needs to wait for when I might have the time to write an essay or series of essays or more formally develop some mathematical arguments.

Life prioritizes entropy because entropy is the antithesis of a uniform (i.e. static) distribution and non-existence. This can not be refuted. But it is sufficiently abstract that you and most others can't see that concretely unless it is spelled out very carefully. I don't have spare time to do it justice right now.

Energy is conserved. It is dead. It only is useful because entropy is created along the way. Period. With only energy and no friction, everything would collapse into a completely static environment. Friction and entropy are intimately related and I need to develop that argument more formally.

I can't imagine that Europe is face such a situation. Also these days most people from European countries started adopting bitcoin.
Coincube has done a good work of creating such a topic even before the crisis has started. He has predicted and observed much
about the market scenarios. Anyhow my prediction is bitcoin also grows only along with the growth of the world countries which
are facing a great distraction in economy.

I will be the first to admit I needed a week to fully absorb the following works of AnonyMint.

The Rise of Knowledge
Understand Everything Fundamentally

Europe will not disintegrate
Goldman Sachs conquers Europe

(source: independent.co.uk)

Coase’s theorem says that an inefficient internal order will continue for as long as there remains an unavoidable frictional barrier insulating it from the more efficient external possibilities. The fundamental reason the EU crisis will not result in a disintegration of the union, at least not until its people significantly abandon collectivism, is that organisms which are unable to comprehend the mechanism by which they are consuming resources faster than their ecosystem can replenish, thus are unable to stop the mechanism before they perish. So the implosion of the friction and thus the order only occurs when they perish, because they will continue to repeat the mechanism which they do not understand to be a cause of their suffering. This can be verified in a petri dish, as an organism will reproduce until it consumes all of its food or oxygen. Due to the lack of a pre-frontal cortex, it is unable to comprehend the connection of reproduction to unsustainability. Unfortunately, even though humans have a pre-frontal cortex, they do not comprehend that debt, insurance, bonds, fractional reserve money, and centralized governance, cause the demand (and thus production) of resources to be overconcentrated in sectors of the ecosystem that create a less productive future. In the next section, I will explain that these financialization mechanisms cause collective failure and thus demand ever increasing centralization (i.e. “too big to fail”), because from their inception they all pool capital. Thus they are always collectivism.

    “It amazes that otherwise bright people can’t understand the simple concept that economic collapse doesn’t convert collectivists into anarchists.”

Thus the people are blind to the mechanism which is enslaving them and reducing their prosperity. Thus, since they will not change the mechanism, centralization of governance will grow stronger from the current financial crisis, and will diminish only when the involved organisms perish. Entropy is continuously culling the center of the bell curve so that knowledge can advance. I make no political judgment when I state factually that these mega-death cullings take many forms, e.g. abortions kill 42 million annually, it is reasonable to assume birth control probably more than that, some statistics claim that governments and wars have killed a couple 100 million in the past century, totalitarianism (the political end of pooling resources) kills millions, drugs and medications probably kill millions, cancer rates are double in the ‘developed’ world (the countries with financialization), and arguably GMO food may add to that. I am not making a political judgment on reproduction, rather to state the fact that actuarial economics are constrained and politically intractable without a sufficient population of youth. And as will be explained with the entropic force, it is the antithesis of knowledge formation, to a have uniform (replicated) social action.

    “Currency wars are like [...] slap wars, trade wars is where the knives come out.”

        “Currency wars > trade wars > hot wars.”

Europe is predominantly retirees (low or negative birth rates exacerbate this), that own various european country bonds via their retirement plans. If interest rates go up, the bond values decline, and their retirement is toast. The politics is to appease subconscious denial, which is why you see Merkel talking tough and simultaneously making gradual steps towards centralized printing and fiscal controls. The savers want to penalize the non-savers, under some illusion that they can convert the non-savers, but they don’t accept culpability for causing the problem with a collectivist form of saving. If the collectivist non-savers were converted to collectivist savers, then who would borrow? Illogical.

Thus, the savers are blind to the fact they too are collectivists. Productive europeans (e.g. Germans) want to have a fixed interest rate return by loaning money to less productive sectors who can buy their exports. Now they want to deny they are subconsciously in support of money printing, because they also don’t want their fixed income to disintegrate (even though it will be debased either way). Due to the psychological phenomenon of ‘false attribution error’ (i.e. blaming the stone that one tripped on, a form of cognitive dissonance), they want to be the victim who will spank and control the bad PIIGS, via increased centralized control. Neither the savers nor the borrowers are the victim, they all are collectivists and being culled by the entropic force. Note, Germany’s debt ratio is as bad as the USA and Canada.

Fiscal centralization to come next (link explains how), with copious money printing and centralized rationing (i.e. austerity and/or price controls). The recent health care legislation in the USA, is price controls and rationing. The only prosperous fix for health care, was to eliminate insurance a priori so that individuals could maximize and individualize their preparations for aging. I will explain that pooled savings, i.e. insurance, is collectivism and thus automatically wasted.

My outlook is optimistic, in that those who understand how to avoid collectivism, facilitate maximum knowledge formation and efficiency of market fitness, will prosper and (they and their offspring will) survive entropic culling.