I have got round to preparing my presentation for Friday 8th. The sacred text is from the co-founder of Wikipedia.
Wales: “The internet interprets any type of centralized planning as a malfunction and routes around it. The command-and-control model is doomed to failure here by the very nature of the network. This is inevitable”.
My question is whether ‘the secretive nature of regulation threatens, rather than supports, the stability of the financial system’.
You see the tension. If the command-and-control model really is doomed to failure, as though by a process of historical materialism, then we can sit around and watch while it eats itself.
But regulation is still with us, more than 20 years after Wales said that (in 1997). So is the command-and-control model really doomed to failure? Doom: from OE dōm ‘statute, judgement’, from a Germanic base meaning ‘to put in place’, figuratively speaking fate or destiny etc.
Find out. There will be quotations from Marx and Sartre, no less (but don’t let that put you off).