A conversation between Fred Meinberg and Stephen Wolfram at the Wolfram Summer School 2021

Stephen Wolfram plays the role of Salonnière in this new, on-going series of intellectual explorations with special guests. Watch all of the conversations here: wolfr.am/youtube-sw-conversat...
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[@newenglandbarbell4647]

These are phenomenal 👏
Thank you to all involved and please continue with these conversations.

[@ryderbrooks1783]

And how exactly do you know an exchange is “miss priced” and not leading?🤔..

[@tarkajedi3331]

I want a video dealing with waves in space and the density concept. I think we are in the darkages when it comes to Space and there is so much that the Wolfrm Model is hinting at !!!!

[@user-dp5nx8wo5d]

Hello, Professor, can you help me, please?

[@yardrock]

to understand how value emerges out of simple axioms and rules governing economic activities, you may read "theory of value" by Gerard Debreu.

[@jwhite5478]

Nice slap in the face to Eric Weinstein

[@tarkajedi3331]

Very clever. To be honest I will have to listen twice!!!

[@Zayden.]

I am only 15 minutes in. But on the question of atom of economic activity, here's a helpful conceptual line of reasoning:
In the present day, 2021, there are billions of agents with commodities or what Wolfram called tokens. Commodities are, by definition, as an axiom, four things: labor power (an agent's ability to perform labor), goods, land and money. These commodities are exchanged with each other (bought and sold), always through the commodity that acts as the medium of exchange for all commodities: money. These 'atoms' and their logic of motion in the processes of exchange, were studied by Karl Marx. He wrote 2 small pamphlets as a popular outline: Wage Labor and Capital, and, Value, Price and Profit. And the more in-depth work is Capital, which is 3 large volumes. I recommend studying these works as it may not be the final and complete answer, but will prove fruitful in how much is already understood on these questions. Computational methods will take this analysis to a higher, more enriched level.
The other thing to look at here is human biological-technological-cultural evolution from human-ape to ape-human to human, and socioeconomic evolution from hunter gatherer to agricultural society to slave class society to feudal class society to capitalist mercantile class society to industrial capitalist class society to finance-information-industrial capitalist class society. In this regard the fundamental primitive atom of economic activity is humans (agents) and their relationship with nature and each other through human labor and the medium of tools and means of production i.e. the fundamental atoms are the forces and relations of production. This approach has been expounded upon by Marx, Engels and Lenin, it is called the materialist conception of history.

[@Zayden.]

As I continue watching, there is the question of value. Which Marx took up in connection with the agent having commodities; these commodities have value. Which can be of two types. Use-value and exchange value. When it comes to exchange of commodities, it is based on the exchange value. Exchange value of a commodity is determined by the average cost of production to produce that product, which at bottom is the average amount of labor power spent; labor power is measured in units of time. Labor power's value is determined the same way, i.e. by the average cost of production to sustain and reproduce labor power, which unlike other commodities has a historical and moral component as well, as far as what is considered the standard of living in a historical and regional place. Labor power has another unique property in that it can be applied in the process of production and create more value than it puts into it.
Again these ideas are taken up by Marx in Wage Labor and Capital, Value; Price and Profit; and Capital.

[@Zayden.]

1:20:10, he is on the right track. Value emerges and is objective, constantly updating, based on the many occurrences of transactions and interactions/exchanges in the market.

[@Zayden.]

1:23:50, this guy is on the right track

[@Zayden.]

1:31:25, this guy is correct in his line of thinking. Karl Marx studied the origin and development of money. It did not always exist, it did not just pop into existence through a brilliant idea of an individual, it evolved into existence, first requiring bartering to take place on a scale past a certain threshold. This is in his book Capital.

[@_ARCATEC_]

The Four P's of the Physics of Commerce .👋🙃
Authentic Operators.
A non-hierarchical spectre of category's of Agency read through a Semantic Toroidal Capsule of Vector Space ☕🤓👍 a holistic interpretation of the ecology and connectivity of humanity and the domains and dimensionality thereof .
Competition is overrated.
There is no determination outside of agency.

[@StephenPaulKing]

Look up Eric Weinstein's discussion of the gauge group and the Escher staircase! Maldecena borrowed the idea for an explanation of the gauge idea.