Mill and Marx are widely recognized as the last of the classical political economists. While Marxism has since gone its own way, the liberal utilitarianism of Mill (1846) was refashioned from the 1870s onwards as the ‘neo-classical’ paradigm, which still defines economics today. The core of this paradigm, the notion of diminishing marginal utility, was independently pioneered by William Jevons in Manchester, Carl Menger in Vienna and Léon Walras in Lausanne during 1871-1874. They each located economic value in individuals conceived of as maximizing their utility, thus making a revolutionary break with the macro-sociological concerns of the classical economists (Hutchinson 1978). The new school achieved a synthesis in Alfred Marshall’s Principles of Economics (1890), a name that rhymes with mathematics and physics (Mirowski 1989). Following Edgworth’s example in Mathematical Psychics (1881), economists began to rely more on numerate methods, but to nothing like the same degree as today. Marshall’s neo-classical economics was challenged by an Austrian version and, during the Great Depression, by the even more contrary paradigm of his student, J. M. Keynes. In the United States the institutional economists, led by Veblen (1904) and Commons (1934), promoted a more explicitly political version of economic science. They were more than a match for the neo-classical economists there in the interwar period (Yonay 1998). The modern notion of ‘the economy’, along with Franklin Roosevelt’s New Deal, was a product of this era of general crisis (Mitchell 1998).
Dr. Ulrich Wuermeling is a counsel in the London and Frankfurt offices of Latham & Watkins. His main area of expertise is privacy law and his clients predominantly operate in the finance, technology, marketing and media sectors. German and international legal directories consistently list Mr. Wuermeling as a leading individual in Data Protection, IT and Outsourcing (JUVE 2014/2015, Chambers Europe Germany 2014, Handelsblatt Best Lawyers 2016, The Legal 500 Germany 2016). He is ranked in Band 1 for Data Protection by Chambers Europe Germany 2016. He teaches privacy law as a Visiting Professor at Queen Mary University London and is co-editor of the Latham & Watkins’ Global Privacy & Security Compliance Law Blog, which discusses a wide range of legal developments and controversies involving data protection, privacy issues and practices, trans-border data transfers, data and system security terms as well as breaches across numerous industry sectors.
IRC is a great medium for communities to get together, answer users’ questions and collaborate. Although it may seem primitive, its low-bandwidth consumption and wide variety of ways to access it make it an ideal way for people to connect from any location or background.
There are virtually unlimited clients (programs) available to connect to IRC networks. Their UI does the work of presenting the protocol in a friendly format, tailored to the user’s needs.
Many popular FOSS projects are on IRC already, and it is likely that most of the open source software you use will have their own channel (or channels) for discussion.
Aside from chatting, IRC allows further features & extensions by 3rd party tools and services. For example, some individuals & companies run bouncers. Bouncers stay permanently online and connect to whichever IRC network and channels you wish. When you come back online, they replay your messages back to you. This allows you to maintain a constant connection to IRC without actually keeping your personal machine online all the time.
Also, most IRC networks have services, which are bots that appear as fellow users. They help you register nicknames and channels, and help with other network-related tasks—but more on that later.
Although IRC use in general has been declining, the use of IRC networks meant for project collaboration, like freenode, has increased consistently.