tag:blogger.com,1999:blog-648884752216444797.post9127158720545263726..comments2024-03-28T09:59:13.754-07:00Comments on bionic mosquito: False Profitsbionic mosquitohttp://www.blogger.com/profile/12002548958078731031noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-648884752216444797.post-22858118051160248902016-01-17T13:06:25.715-08:002016-01-17T13:06:25.715-08:00The operation was a success! The patient died, but...The operation was a success! The patient died, but...Capn Mikehttps://www.blogger.com/profile/08133441332228302495noreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-34346264745801309912016-01-17T10:09:36.752-08:002016-01-17T10:09:36.752-08:00How can anyone ever think about using mathematics ...How can anyone ever think about using mathematics in the absence of a stable, uniform unit of measurement? Imagine if physicists had to make a rocket reach escape velocity when the meter kept changing in size. Economics is the study of human decision making in allocating scarce resources to maximize *satisfaction*. What is the unit of measure here? There isn't one!<br /><br />These people deal with money, and assume that a dollar spent is somehow guaranteed to produce satisfaction. Not surprisingly, then, they always call for more dollars to be spent! And since the government is the single biggest spender/waster of money in any economy, they always call for more gov't spending.<br /><br />Igor KarbinovskiyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-34127703176483363882016-01-17T00:28:19.079-08:002016-01-17T00:28:19.079-08:00What Shannon cared about was how to handle situati...What Shannon cared about was how to handle situations where we do not have sufficient information. With the aim to extract as much information as one can from what is known. So, in itself not a bad idea to try to apply it in economics. Ilja Schmelzerhttps://www.blogger.com/profile/05344206562643658764noreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-17959333941952281722016-01-15T10:07:28.312-08:002016-01-15T10:07:28.312-08:00"Human action cannot be measured in such a ma..."Human action cannot be measured in such a manner such that it can be modeled. "<br /><br />Provided an individual has, and is content with, a properly diversified, long term savings plan that makes modest profits in all broadly defined economic conditions [eg inflation, deflation, good times, recessions], there is no need for that individual to ever have to try to predict future economic events, nor for them to listen to or rely on the "expert investment/economic advice" of anyone who claims predictive powers.<br /><br />But, of course, most investors still do exactly that, simply because they mistakenly believe that the "experts"[ however defined, but including many "Austrians"], _can_ reliably predict our economic future.<br /><br />And so it goes :-) .<br /><br />http://onebornfreesfinancialsafetyreports.blogspot.com/2014/09/long-term-savings-plan-results-update.html<br /><br />Regards, onebornfree<br />Financial Safety ServicesOnebornfreehttps://www.blogger.com/profile/17865185718738348312noreply@blogger.com