From: Jim Legg (income@ihug.co.nz)
Date: Sun Feb 02 1997 - 17:27:04 MST
> Guru George asks: What the fuck is "intrinsic value"? How is it to be estimated?
A system that relies on captive consumers who can't notice or question the nature of the non-local variables hidden in 'price' is similar to a classic backward propagation Artificial Neural Network. For example, in accepting that classic AI is not going to provide a direct interface to the mind, the modern AI trend looks like a constructionist model that uses graded (i.e. intrinsic) values for feed-forward unsupervised learning. The simplest form of intrinsic value is a unit of frequency. The result of using analog or hidden variables in systems is that they cannot be examined, backed-up and eventually can't be trusted.
The good news is that it is easy to prune any analog 'beanstalk-like' system into the bigger and more efficient (i.e. digital) constructionist mapping method with its independent components. There is a priceless inference engine called "The Ingrid Thought Processor" which I have been involved with for the last eighteen years. It's available as freeware from my website to further explain constructionism.
I don't know how many readers have seen the elaborate economic charts put out by the Millenium Institute, but I challenge anyone to show that these charts cannot be improved by reconstructing them without the red bits.
Best,
Jim Legg http://homepages.ihug.co.nz/~income
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