Will not time reveal the lasting importance of friends and mutual respect? Be kind to those who think well of you and those you know and try to add positive elements to your world. Promote peace in your heart and sunshine in the minds of those around you by your own good works. Elevate the level of discussion by thinking less of the issues and more of how you can reduce the tension of stress that arises with honest disagreement. Relax by breathing more deeply and consciously.
Scratches to Sketches
Tuesday 23 November 2010
The Market Economy and then there is the Trader Economy - Manachean Devil or Just Intelligent Opponent
Some activities are ideal for specific personalities. Human personality can define what you are good at based on how you have self selected your specialisation. The problem is that many money making activities require personality, energy, resilience, intelligence, adaptability, resourcefulness, endurance, canniness, and persistence. Markets that involve strategy are much too difficult for modelling as yet though the best brains have tried.
A World Without Work
Rick Bookstaber theorises about the influence of economies of scale in technology and the implications of falling costs on consumption.
Bookstaber's discussion is pretty close to what What we are seeing and not so far off the mark. It would be interesting to put his hypothesis in a more general economic model. He, nevertheless, has pulled out two of the more fascinating influences operating within our modern economies. Power to him:
http://www.businessinsider.com/secular-deflation-2010-11
A similar model results in the deflation of the housing market which receives the benefit of over expansion of the money supply, but this leads to deflation as there is insufficient consumption demand for the second cycle of demand that results from too much money. The inflation of too much money can offset the deflation of technology providing the money supply growth is in balance for long term consumption capacity, normally seen as the long term income or permanent income as per Milton Friedman. This can explain why a well designed combination Keynesian, Schumpeterian and Friedman's models will work together but leave one out and none will work. All three together provide a reasonable framework of analysis as first suggested in the 1930's bynthe economist and mathematician, Professor Moore.
Will not time reveal the lasting importance of friends and mutual respect? Be kind to those who think well of you and those you know and try to add positive elements to your world. Promote peace in your heart and sunshine in the minds of those around you by your own good works. Elevate the level of discussion by thinking less of the issues and more of how you can reduce the tension of stress that arises with honest disagreement. Relax by breathing more deeply and consciously.
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Sketches from scratches is a provocative blogspot that has grown out of the Wuh Lax experience. It is eclectic, which means that it might consider just about anything from the simple to the extremely difficult. A scratch can be something that is troubling me or a short line on paper. From a scratch comes a verbal sketch or image sketch of the issue or subject. Other sites have other stuff that should really be of interest to the broad reader. I try to develop themes, but variety often comes before depth.
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