How The Dollar Became Fiat: An Oversimplified History

Fifty years ago today, one of the most momentous events of the 20th century unfolded. But unlike the well-known events frequently told in schools - fall of Berlin wall, Deng Xiaoping opening China, NASA moon landing, the pill, Hiroshima, the Great Depression, Bolshevik revolution, Ferdinand assassination, Wright brothers flight etc - what happened on 15th [...]

Ergodicity: the Most Over-Looked Assumption

Consider two ways of making purple. Method 1: Alternate red and blue squares. With enough squares, purple emerges. Method 2: Make square alternate between red and blue. With short enough time intervals, purple emerges. First method made changes in the space (ensemble) dimension. Second method made changes in the time (temporal) dimension. Both converged to [...]