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  1. With human systems, some form of objective truth seems to matter much less than what a localised group of people agree is the truth.

    The stock market for instance seems to change direction fairly often, based upon those factors which the media consider to be relevant on that given day.

    Is this not an example of “information” controlling the direction of the system? Rather than an individual investor making a decision in isolation from the rest of the system.

    Certainly Google rankings seem to arise from some sort of a feedback loop which either raises or lowers page rankings based upon what the enquirer does with a given set of search results.

    As Jung said, “where you have a group, you have group lies.” If I tell you something is true and then you tell me it is true, pretty soon we have an agreed factoid; “it is a well known fact that…” or “it’s common sense that….”

    Provided our conclusions are not catastrophically unrealistic, common sense is as good a guide for the human group as any other form of truth.

    In a Darwinian sense, it is the catastrophes which bring these factoid systems back too reality. For a good recent example consider the GFC. Many people no longer agree with the proposition that you can live successfully on borrowed money. Although quite a few sovereign governments seem to be holding fast to this comforting illusion.

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