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Reinventing the Bazaar: A Natural History of Markets by John McMillan
accounting loophole / creative accounting, Albert Einstein, Alvin Roth, Andrei Shleifer, Anton Chekhov, Asian financial crisis, congestion charging, corporate governance, corporate raider, crony capitalism, Dava Sobel, Deng Xiaoping, experimental economics, experimental subject, fear of failure, first-price auction, frictionless, frictionless market, George Akerlof, George Gilder, global village, Hernando de Soto, I think there is a world market for maybe five computers, income inequality, income per capita, informal economy, information asymmetry, invisible hand, Isaac Newton, job-hopping, John Harrison: Longitude, John von Neumann, Kenneth Arrow, land reform, lone genius, manufacturing employment, market clearing, market design, market friction, market microstructure, means of production, Network effects, new economy, offshore financial centre, ought to be enough for anybody, pez dispenser, pre–internet, price mechanism, profit maximization, profit motive, proxy bid, purchasing power parity, Ronald Coase, Ronald Reagan, sealed-bid auction, second-price auction, Silicon Valley, spectrum auction, Stewart Brand, The Market for Lemons, The Nature of the Firm, The Wealth of Nations by Adam Smith, trade liberalization, transaction costs, War on Poverty, Xiaogang Anhui farmers, yield management
In 1954, John von Neumann, the mathematical genius who helped invent the computer, said, “I think there is a world market for maybe five computers.” In 1977, Ken Olson, president of Digital Equipment Corp., said, “There is no reason anyone would want a computer in their home.” In 1981, Bill Gates, founder of Microsoft, is reported to have said, “640K ought to be enough for anybody.” Businesspeople are as prone to forecasting error as anyone else. In a market economy, though, many such forecasts, some right, some wrong, are being acted on simultaneously. Monopolizing economic decision-making in a planning agency, by contrast, means restricting the number of paths that get explored.
Ada Lovelace, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, Albert Einstein, Any sufficiently advanced technology is indistinguishable from magic, Buckminster Fuller, call centre, cellular automata, combinatorial explosion, complexity theory, computer age, computer vision, cosmological constant, cosmological principle, Danny Hillis, double helix, Douglas Hofstadter, Everything should be made as simple as possible, first square of the chessboard / second half of the chessboard, fudge factor, George Gilder, Gödel, Escher, Bach, I think there is a world market for maybe five computers, information retrieval, invention of movable type, Isaac Newton, iterative process, Jacquard loom, Jacquard loom, John Markoff, John von Neumann, Lao Tzu, Law of Accelerating Returns, mandelbrot fractal, Marshall McLuhan, Menlo Park, natural language processing, Norbert Wiener, optical character recognition, ought to be enough for anybody, pattern recognition, phenotype, Ralph Waldo Emerson, Ray Kurzweil, Richard Feynman, Richard Feynman, Robert Metcalfe, Schrödinger's Cat, Search for Extraterrestrial Intelligence, self-driving car, Silicon Valley, speech recognition, Steven Pinker, Stewart Brand, stochastic process, technological singularity, Ted Kaczynski, telepresence, the medium is the message, There's no reason for any individual to have a computer in his home - Ken Olsen, traveling salesman, Turing machine, Turing test, Whole Earth Review, Y2K
—Popular Mechanics, 1949 “It would appear that we have reached the limits of what is possible to achieve with computer technology, although one should be careful with such statements, as they tend to sound pretty silly in five years.” —John von Neumann, 1949 “There’s no reason for individuals to have a computer in their home.” —Ken Olson, 1977 “640,000 bytes of memory ought to be enough for anybody.” —Bill Gates, 1981 “Long before the year 2000, the entire antiquated structure of college degrees, majors and credits will be a shambles.” —Alvin Toffler “The Internet will catastrophically collapse in 1996.” —Robert Metcalfe (inventor of Ethernet), who, in 1997, ate his words (literally) in front of an audience Now I get to toot my own horn, and can share with you those predictions of mine that worked out particularly well.
Gravity's Rainbow by Thomas Pynchon
But this time Crutchfield only turns back to watching the distant mountains. Whappo sulks. His top hat reflects the coming holocaust. What the white man does not have to utter, however casually, is anything like "Toro Rojo's gonna be riding in tonight." Both pardners know about that. The wind, bringing them down that raw Injun smell, ought to be enough for anybody. Oh God it's gonna be a shootout and bloody as hell. The wind will be blowing so hard blood will glaze on the north sides of the trees. The redskin'll have a dog with him, the only Indian dog in these whole ashen plains—the cur will mix it up with little Whappo and end hung on the meathook of an open meat stall in the dirt plaza back in Los Madrés, eyes wide open, mangy coat still intact, black fleas hopping against the sunlit mortar and stone of the church wall across the square, blood darkened and crusting at the lesion in his neck where Whappo's teeth severed his jugular (and maybe some tendons, for the head dangles to one side).