European Tribune - Comments - UK - World's Top Financial Centre?

UK - World's Top Financial Centre? | 70 comments (70 topical, 0 editorial, 0 hidden)

The relationship between some poor people gaining wealth due to the housing bubble and others losing it due to losing jobs later is a probabilistic relationship, not a deterministic one, so thinking about the two together would require discounting the cost of job loss due to the bubble by some amount.

By that reasoning we can't use the kinetic theory of gases to derive fluid mechanics from the statistical mechanics of particles.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Wed Oct 14th, 2009 at 11:06:05 AM EST
[ Parent ]

Re: Bad for whom? (none / 0)

No, it just means that you have to explicitly account for probabilities of less than 1 when trying make an argument about causality.

by santiago on Wed Oct 14th, 2009 at 11:14:53 AM EST
[ Parent ]

UK - World's Top Financial Centre? | 70 comments (70 topical, 0 editorial, 0 hidden)

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