Posts in Millennia Challenge
MC 23: The Tale of the Herd and the Dung Beetles

But surely you’re mistaken” smiled Hermes. 

With promethean hubris, the mischievous god announced that he, being smarter than their father, could do much better.

“I wager, I could squeeze out even more efficiency” he winked. “I’m the god of finance you know. Trust me. I know exactly what I’m doing.”

With that, and loving a good poo joke, he transformed the herd so that from then on the horses would eat the grass to produce the dung but the dung beetle would pay the horse with their delicious frass. The horse no longer getting their energy from the grass but by exchanging their dung for frass!

Hermes had cursed the horse to value frass as highly as the beetle valued dung.

Read More
MC22: The Great Collapse and its Antecedents or The Black Swan too Big to See
MC21 :Modern Value Theory. Part One. The Problem of Supply
MC20: How Useful is a Theory of Usefulness ?
MC19: Counter-Value or The One in Which the Invisible Hand Wears the Infinity Gauntlet
MC18 : More on Prime Movers
MC17: Natural Vs Unnatural Exchange
MC16 : Value in Use and the Magic of Entropy
MC15: Connecting the Capitals to Open Systems
MC14 : The Podcast with Valeria Maltoni
MC13: The Value Generation Formula
MC12: Recap - In Search of Phi?
MC11: The Forms of Capital
MC10: What Makes a Capital Useful
MC9 : The Capital Metaphor Problem
MC8 : The Two Types of Value in Use
MC7 : The Physics of Value in Use
MC6: Redrawing the Production Boundary
MC5: Value in Use is Not Use Value
MC4 - What is Value in Use ?