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Re: Economics 101
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Newsgroup: rec.crafts.metalworking
Posted by: F. George McDuffee
2008-07-13 03:21:52

On Sat, 12 Jul 2008 13:18:14 -0400, Cliff
wrote:

> Gramm said: “You’ve heard of mental depression - this is a mental recession.


Dr. Gramm is correct, but not in the way he means. The market is
a mental construct, as are corporations, money, and many other
things.

Thus in this, as in many other aspects, the problem is one of
general mental health and belief systems rather than some
specific regulation.

In economics as in astrology, the assumptions and calculations
are arcane and may even be [internally] correct, but as these
have no relationship to the way our actual society/market [or the
universe] functions these calculations generate a random series
of predictions, a few of which by the law of averages are
correct, thus "proving" the validity of their "science" or belief
system.

As a specific examples why do most people continue to believe in
perpetual motion machines when the output is money rather than
energy? Why do people belong to cargo cults and wait for the
delivery of all the good things in life "real soon now?" Why do
people believe that "things are different this time?" Why can no
government get inflation under control? Why do we drive on a
park way and park on a drive way?

This problem goes far beyond a few specific dick weeds or n- load
individuals in particular positions, but is imbedded in the
fabric and myth/lore of our society. Indeed, given the universal
world-wide nature of these interrelated problems, we may be
confronting some sort of hard-wired socio-biological species
problem.


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).

 

 

 

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