Galileo is part of the Venetian "dead hand" faction of science.
thus quoth:
And, of course, it doesn't work. The whole idea of Thorp, Black,
Merton, et al., is to create "risk-free" betting, by coming up with
mathematical formulas which will always guarantee a profit. This
insane idea, which is derived from a very old gambling method known as
Dutch Book, is why you hear people say that derivatives have made the
financial markets safer and more stable. It's the blind leading the
blind. First off, as Mr. LaRouche pointed out in his June 21 address,
use of the Black-Scholes and related methods is now universal. They're
all using the same formulas. Picture what would happen if every
blackjack player in a Las Vegas casino was part of the MIT blackjack
team, and you should understand what is wrong with that picture.
Second, they demand to set their own rules. As even Black and Scholes
point out in their 1973 paper, the success of their formula depends on
very specific criteria, e.g., a constant flow of cash at a risk-free
interest rate (provided in the real world of 2007 by the yen carry
trade), no transaction costs or taxes, the possibility to always sell
a stock short, etc. In other words, they have constructed an
artificial game, supposedly rigged to always win. A fantasy!
We have seen this before: Galileo Galilei (Concerning an Investigation
on Dice, 1630), Giralamo Cardano (Book on Games of Chance, 1633), and
Abraham de Moivre (Doctrine of Chances, 1718 [dedicated to Isaac
Newton]), all examined the idea of using mathematical formulas to win
at gambling. Their methods came into widespread use in 17th-Century
Amsterdam, with the creation of speculative options trading. The
result was the Tulip craze, and the South Sea and John Law bubbles.
http://www.larouchepub.com/other/2007/3429it_is_gambling.html
thus:
Universe is about half of antimatter
in the Alfven cosmology,
which is based upon plasma physics from the lab;
their is no "light & antilight," though;
antimatter looks like matter!
thus:
speaking of Young's anhialation of Newton's photons,
here is the earlier elaboration on light by Fermat:
http://www.wlym.com/~seattle/dynamis/issues/august08-fermat.pdf
> as we know from Newton's iron-poor corpuscles.