Tuesday, October 6, 2015

Economic Rates of Change

Not that I'm advocating mathematical economics, but as a mental exercise, why don't more economists make reference to rates of change in economic well-being?  Why aren't there extensive studies in everyday conversation that show, not just how policy affects change, but how policy affects rates of change over time.

A specific policy will affect prices, employment, capital accumulation or consuption, land/material use, etc. and all its "lengthening" or "shortening" the capital structure relative to those changes, over time.  Point being, i.e., employment could be on the rise, while the 2nd order derivative (acceleration, or momentum, or whatever physics corollary you choose) could have a negative impact.

Friday, October 2, 2015

dreamers of all sorts.

I can't help noticing that it never matters what one person's view of utopia is; in the end the only thing that matters to everyone is satisfaction of want, and disutility of labor.  In this, libertarians and specifically austro-libertarians have the only complete, consistent plan for maximizing satisfaction of want, while requiring less labor over time.