Ep. 87: Terence Kealey - Decentralized Science, Neo-Medieval Universities & Longevity Moonshots

William Gilbert's "On the Loadstone and Magnetic Bodies" is a foundational text in the history of science, published in 1600. It meticulously details Gilbert's experiments on magnetism, challenging existing theories and establishing the Earth as a giant magnet. The book's rigorous methodology and experimental approach significantly influenced the development of scientific inquiry. Gilbert's work laid the groundwork for future discoveries in electricity and magnetism, solidifying his place as a pioneer of experimental science. His detailed observations and systematic approach to understanding natural phenomena set a new standard for scientific investigation.

In this book, Paul Feyerabend challenges traditional views of scientific methodology by arguing that science should be an anarchic enterprise. He contends that the imposition of methodological rules can hinder scientific progress and that 'anything goes' is a necessary stance to encourage innovation and pluralism in science. The book includes detailed case studies, such as Galileo's hypothesis that the Earth rotates on its axis, to illustrate how scientists have profitably violated established rules. Feyerabend rejects the distinction between the context of discovery and the context of justification, arguing that such distinctions are not reflected in scientific practice and could have disastrous consequences if enforced.

In 'The Structure of Scientific Revolutions', Thomas S. Kuhn argues that scientific progress does not occur through a gradual accumulation of facts, but rather through periodic revolutions that disrupt existing paradigms. Kuhn introduces the concept of 'normal science' and 'revolutionary science', where normal science involves puzzle-solving within an established paradigm, and revolutionary science involves a paradigm shift that fundamentally changes the way scientists view the world. He explains that these revolutions are driven by the accumulation of anomalies that cannot be explained by the current paradigm, leading to a crisis and eventually a new paradigm that offers a different perspective and new ways of conducting research.

Published in February 1936, 'The General Theory of Employment, Interest and Money' by John Maynard Keynes revolutionized economic thought by challenging the classical economic theories of his time. Keynes argued that total spending in an economy can fail to generate full employment if total savings exceed total investment. He introduced key concepts such as the 'Principle of Effective Demand,' liquidity preference, and the marginal efficiency of capital. The book emphasizes the importance of aggregate demand, the role of government in stabilizing the economy, and the interaction between monetary and real economic factors. Keynes's theories have had a profound impact on economic policy and continue to influence macroeconomic thought and policy to this day.

Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics. The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit. It emphasizes the division of labor, the accumulation of capital, and the importance of free markets. Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces. The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.