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walterbell 17 hours ago

Need a City quant PhD to invent a mathematical analog of Black-Scholes [1] for pricing and trading the irreplaceable value of culturally significant physical spaces to future generations. Then City-like [2] institutions can compete financially for ongoing preservation rights, rather than a one-time chop shop auction.

[1] https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model

[2] https://en.wikipedia.org/wiki/City_of_London

sdwr 16 hours ago | parent | next [-]

"Preserving the irreplaceable value of ..." works great as a personal motivation or a mission statement, but terribly as an explicit rule. It's the same problem as carbon offsets - if there's a formula for converting intangible values into cold hard cash, people will exploit the definition of the intangibles to make money.

roughly 15 hours ago | parent | next [-]

This is largely because we’ve built a philosophy that eschews any concept of a collective or a people or a culture or a future.

lobsterthief an hour ago | parent [-]

Not every country is like this

yyuugg 30 minutes ago | parent [-]

[dead]

walterbell 14 hours ago | parent | prev [-]

Which legal and financial instruments have defended the City of London itself from being auctioned for parts?

Subsets of culture are preserved, packetized & traded daily. Even StubHub has a "food festival" category.

metaphor 12 hours ago | parent [-]

Before learning that this[1] was a thing, I honestly would have interpreted your remark in passing as figurative rhetoric.

[1] https://en.wikipedia.org/wiki/London_Bridge_(Lake_Havasu_Cit...

cactusfrog 10 hours ago | parent | prev [-]

This is a gamblers ruin problem action.