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on 14-Nov-2014 (Fri)

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Flashcard 149632079

Tags
#odersky-programming-in-scala-2ed #scala
Question
What does it mean that whereas in classes, super calls are statically bound, in traits, they are dynamically bound?
Answer
If you write “super.toString” in a class, you know exactly which method implementation will be invoked. When you write the same thing in a trait, however, the method implementation to invoke for the super call is undefined when you define the trait. Rather, the implementation to invoke will be determined anew each time the trait is mixed into a concrete class.


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pdf

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Flashcard 149649276

Tags
#common-lisp #variable-binding
Question
Is dynamic binding global or local? (the question is about naming convention, no need to explain actual scope)
Answer
local (because it is created by LET)


statusnot learnedmeasured difficulty37% [default]last interval [days]               
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global vs local variables
AMETER make global bindings, everything else local DEFVAR/DEFPPARAMETER just globally declaim that symbol to name a special (= dynamic) variable other bindings of same name create a local binding that shadows the global binding <span>any binding created by LET is local, including dynamic binding<span><body><html>







#economics #money
"If money is a “measure of indebtedness”, who is indebted to who when gold coins are used as money?"

If you swap gold coins for goods and services, those coins aren't money in the modern sense. They are just valuable assets, just like the goods you can exchange them for. So post-transaction, nobody is indebted to anybody.

"The answer is “no one”. And the same goes for all commodity monies."

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Mark Wadsworth: Glad to have cleared that up.
*/ body#layout #header { margin-left: 0px; margin-right: 0px; } skip to main | skip to sidebar Friday, 14 November 2014 Glad to have cleared that up. Ralph Musgrave in the comments to an earlier post: <span>"If money is a “measure of indebtedness”, who is indebted to who when gold coins are used as money?" If you swap gold coins for goods and services, those coins aren't money in the modern sense. They are just valuable assets, just like the goods you can exchange them for. So post-transaction, nobody is indebted to anybody. "The answer is “no one”. And the same goes for all commodity monies." Even back in the day when we used gold coins, the split second that any of the following occur, you have a debt-based money system: a) You obtain (or supply) goods and services on credi




example of (private) money creation under gold standard
#economics #money
You obtain (or supply) goods and services on credit, i.e. payment at a later date. The fact that the indebtedness is measured in terms of of how many gold coins will change hands in future is by the by. You can measure it in gold coins, pounds, dollars, payment in kind or bags of salt.

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is indebted to anybody. "The answer is “no one”. And the same goes for all commodity monies." Even back in the day when we used gold coins, the split second that any of the following occur, you have a debt-based money system: a) <span>You obtain (or supply) goods and services on credit, i.e. payment at a later date. The fact that the indebtedness is measured in terms of of how many gold coins will change hands in future is by the by. You can measure it in gold coins, pounds, dollars, payment in kind or bags of salt. b) Somebody borrows gold coins from a money lender. The gold coins still very much exist, but the money lender no longer owns those gold coins, what he owns is a promise by the borrower




example of (private) money creation under gold standard
#economics #money
Somebody borrows gold coins from a money lender. The gold coins still very much exist, but the money lender no longer owns those gold coins, what he owns is a promise by the borrower that the borrower will repay x gold coins at a future date (an asset). The borrower now has whatever he spent the coins on and a liability. The money lender's new asset and the borrower's liability are equal and opposite and have been created out of thin air.

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Mark Wadsworth: Glad to have cleared that up.
it, i.e. payment at a later date. The fact that the indebtedness is measured in terms of of how many gold coins will change hands in future is by the by. You can measure it in gold coins, pounds, dollars, payment in kind or bags of salt. b) <span>Somebody borrows gold coins from a money lender. The gold coins still very much exist, but the money lender no longer owns those gold coins, what he owns is a promise by the borrower that the borrower will repay x gold coins at a future date (an asset). The borrower now has whatever he spent the coins on and a liability. The money lender's new asset and the borrower's liability are equal and opposite and have been created out of thin air. c) The money lender himself accepts "deposits" which is a polite way of saying "borrows gold coins from people". The gold coins he accepts from depositors are of cour




example of (private) money creation under gold standard
#economics #money
The money lender himself accepts "deposits" which is a polite way of saying "borrows gold coins from people". The gold coins he accepts from depositors are of course the gold coins from the previous transaction of lending gold coins out by the same lender. Each time they are lent out to borrowers and taken back in from lenders, the money lender's balance sheet grows. He splits the zero into assets and liabilties.

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Mark Wadsworth: Glad to have cleared that up.
l repay x gold coins at a future date (an asset). The borrower now has whatever he spent the coins on and a liability. The money lender's new asset and the borrower's liability are equal and opposite and have been created out of thin air. c) <span>The money lender himself accepts "deposits" which is a polite way of saying "borrows gold coins from people". The gold coins he accepts from depositors are of course the gold coins from transaction (b). Each time they are lent out to borrowers and taken back in from lenders, the money lender's balance sheet grows. He splits the zero into assets and liabilties. "Debt of course CAN BE USED as money, but it’s not the only form of money. Also the extent to which base money is form of debt is very debatable. E.g. £10 notes claim that the Bank




#economics #money
Where it gets dangerous is when banks capitalise land rents (that's eighty per cent of private money creation),

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Mark Wadsworth: Glad to have cleared that up.
eates think it’s possible. All right, you try banning transactions a), b) and c) above, see how far you get. For the umpteenth time, a bit of private money/debt/credit creation to oil the wheels and smooth the system is vitally important. <span>Where it gets dangerous is when banks capitalise land rents (that's eighty per cent of private money creation), which can only be sorted out by decapitalising land values i.e. with Domestic Rates, rent controls, mortgage restrictions caps etc. This is not hypothetical, it's what the UK did until t




#economics #money
There are at least 2 kinds of money - "money as debt" and "commodity money". They are completely different thing in this context, but confusingly named the same.

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Parent (intermediate) annotation

Open it
"If money is a “measure of indebtedness”, who is indebted to who when gold coins are used as money?" If you swap gold coins for goods and services, those coins aren't money in the modern sense. They are just valuable assets, just like the goods you can exchange them for. So post-transaction, nobody is indebted to anybody. "The answer is “no one”. And the same goes for all

Original toplevel document

Mark Wadsworth: Glad to have cleared that up.
*/ body#layout #header { margin-left: 0px; margin-right: 0px; } skip to main | skip to sidebar Friday, 14 November 2014 Glad to have cleared that up. Ralph Musgrave in the comments to an earlier post: <span>"If money is a “measure of indebtedness”, who is indebted to who when gold coins are used as money?" If you swap gold coins for goods and services, those coins aren't money in the modern sense. They are just valuable assets, just like the goods you can exchange them for. So post-transaction, nobody is indebted to anybody. "The answer is “no one”. And the same goes for all commodity monies." Even back in the day when we used gold coins, the split second that any of the following occur, you have a debt-based money system: a) You obtain (or supply) goods and services on credi




#economics #money
"money as debt" is not a thing, like a flower or refrigerator. it is a unit, like kilogram or joule.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
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Parent (intermediate) annotation

Open it
There are at least 2 kinds of money - "money as debt" and "commodity money". They are completely different thing in this context, but confusingly named the same.

Original toplevel document

Mark Wadsworth: Glad to have cleared that up.
*/ body#layout #header { margin-left: 0px; margin-right: 0px; } skip to main | skip to sidebar Friday, 14 November 2014 Glad to have cleared that up. Ralph Musgrave in the comments to an earlier post: <span>"If money is a “measure of indebtedness”, who is indebted to who when gold coins are used as money?" If you swap gold coins for goods and services, those coins aren't money in the modern sense. They are just valuable assets, just like the goods you can exchange them for. So post-transaction, nobody is indebted to anybody. "The answer is “no one”. And the same goes for all commodity monies." Even back in the day when we used gold coins, the split second that any of the following occur, you have a debt-based money system: a) You obtain (or supply) goods and services on credi