Re:The Parable of the Two Programmers (1985)
by pm90 on Sunday January 25, 2015 @03:25AM
(#8942409)
It doesn't have to be amount of effort, even. In your example, the locksmith has so much experience, its easy for him to fix locks, so not much effort it required by him. But we do make this correlation between effort and time; so more time spent == more effort to our brain. That needs to change.
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Re:The Parable of the Two Programmers (1985)
by gwern on Sunday January 25, 2015 @01:41PM
(#8943747)
Nick Szabo has some writings on the economic shift to hourly wages and proof of work; because of the local knowledge problem (nobody can be an expert on everything, lots of information is hidden or inaccessible or tacit, and it's extremely difficult to determine value), looking at the labor or work which went into a product or service can be a simple fast heuristic for estimating the value of something - since if it was not at least that valuable, the actors who produced it and have more local or tacit knowledge would stop producing it.