Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
IMHO we need Keynesianism updated for the Internet Age.

Agreed.  Funny you should mention it.  We were discussing just this issue in Socratic Economics XI National Accounts a week or so ago.  I inquired as to the financial prospects for a from scratch recreation of the General Theory that adapted it to the global economy.  Mig thought it would be a cult classic and said:


What you're looking for is a Feynman Lectures on Economics, so to speak,...

which I found apt.

Why do I suspect that if you were to write such a work you would find yourself practicing economics from Finnigan's Cave?  Or are there still more sinister methods of enforcing "market discipline" on the recalcitrant?

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jun 13th, 2008 at 01:32:03 AM EST
[ Parent ]
Well, actually I think before anyone can write anything meningful about Economics they must have a good look at their assumptions.

As has been discussed on ET ad nauseam, all too often these assumptions bear no relation to the reality of the world in which we live.

ARGeezer:

Why do I suspect that if you were to write such a work you would find yourself practicing economics from Finnigan's Cave?

Me, I'm from the "Zen and the Art of Economics" school.

In particular the

Metaphysics of Value

with which I commenced that rather rambling paper on Knowledge and Value.

I'm summoning up a book which will have a section, probably on "Coarse Economics" (as with "Coarse Fishing")

In fact the book's probably already written out there and I could probably assemble it from the stuff I've posted on ET and elsewhere.

Not easy for an idle bastard like me.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Fri Jun 13th, 2008 at 09:05:04 AM EST
[ Parent ]
I certainly agree about the importance of assumptions.  Those and the level of personal, or, if you will, "ego" development normative in the discipline today are, I suspect, what has given rise to the "Post-Autistic Economics" movement.  If the discipline can be kept close to the level of male adolescent competitiveness it is likely easier for elites to manipulate to their advantage.  God forbid compassion or concern for anything beyond the next quarter or year's profits should concern. Much better to banish such untoward impulses to the realm of "externalities" and deal with them through voluntary efforts.

Thanks for The Metaphysics of Value.  It has been bookmarked for further perusal.  I will await your pending book.  If you, or anyone could make a from scratch update of the General Theory half as accessible as Heilbronner's "The Worldly Philosophers" it would be at once a great public service and probably never out of print.

Meanwhile, deadlines prevent me from being the idle bastard which I so prefer.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jun 13th, 2008 at 10:51:03 AM EST
[ Parent ]

Display:

Top Diaries

Occasional Series