I always need these laws but they are not very mnemonic, y’know?
In economics, the Jevons Paradox (/ˈdʒɛvənz/; sometimes Jevons effect) occurs when technological progress or government policy increases the efficiency with which a resource is used (reducing the amount necessary for any one use), but the rate of consumption of that resource rises due to increasing demand. The Jevons paradox is perhaps the most widely known paradox in environmental economics.
See also induced demand.
Goodhart’s law is an adage named after economist Charles Goodhart, which has been phrased by Marilyn Strathern as “When a measure becomes a target, it ceases to be a good measure.”
Goodhart first advanced the idea in a 1975 article, which later became used popularly to criticize the United Kingdom government of Margaret Thatcher for trying to conduct monetary policy on the basis of targets for broad and narrow money. His original formulation was:
Any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes.
I occasionally embarrasingly confuse Goodhart’s law with the next one:
is an Internet adage asserting that “As an online discussion grows longer, the probability of a comparison involving Nazis or Hitler approaches 1”
The law was however named after Sir Thomas Gresham, a sixteenth-century financial agent of the English Crown in the city of Antwerp, to explain to Queen Elizabeth I what was happening to the English shilling. Her father, Henry VIII, had replaced 40 percent of the silver in the coin with base metals, to increase the government’s income without raising taxes. Astute English merchants and even ordinary subjects would save the good shillings from pure silver and circulate the bad ones; hence, the bad money would be used whenever possible, and the good coinage would be saved and disappear from circulation.
This one is surprisingly rich for metaphor despite sounding boring. Consider it applied to Bitcoin, where we might argue that illicit uses of bitcoin will drive out licit uses.
is the observation that the number of transistors in a dense integrated circuit doubles about every two years. The observation is named after Gordon Moore, the co-founder of Fairchild Semiconductor and CEO of Intel…
The doubling period is often misquoted as 18 months because of a prediction by Moore’s colleague, Intel executive David House. In 1975, House noted that Moore’s revised law of doubling transistor count every 2 years in turn implied that computer chip performance would roughly double every 18 months
Moore’s Law of Mad Science
Every eighteen months, the minimum IQ necessary to destroy the world drops by one point.