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Again I've been debating and I've come across the accretion argument. It goes as follows. Larger companies always have a competitive advantage over small companies due to economies of scale and a dominant market position. The inevitable result is that large companies become larger, and small...
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This is probably the only site on the Web that I have found concerning economics that might be able to answer my question. Kenyan Multiplier= 1/1 {1-MPC} or 1/MPS basically I need help finding statistical information that can help me find MPC and MPS. I am thinking that MPS is disposable income-personal...
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[quote user="Warren Raftshol"]Math is useful for lots of stuff. take some calculus and differential equations and you'll agree.[/quote] So you would say that making something unquantifiable, like utility, into an equation serves a useful purpose? For a critique of mathematical economics...
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Well, here are my thoughts: it doesn't really seem to me like the neoclassical school needs mathematics. After all, the founders of neoclassical economics, one of whom was also the founder of the Austrian school, did not use merely as much math as is found today in the "dismal science."...
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I've only just started learning about the Austrian School of economics, after reading an article claiming that it successfully predicted both the Great Depression and the current crisis. I'm currently a few chapters into von Mises' book "The Theory of Money and Credit". In fact...
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The Austrian reservation would apply, although this does not mean that your correlations are invalid or useless. What they can’t do is tell us about cause and effect. One of the first lessons in any statistics class is that correlation does not imply causation. Correlation can mean either that a) A causes...
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i have recently designed the following course for my own use: rigourous introductory study centers around rothbard's 'man, economy, and state', via robert murphy's accompanying study guide as an auxillary map, and with mises' 'human action', 'theory of money and credit'...
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[quote user="Mrhuh"] I know that Murray N. Rothbard tackled chaos theory once (the article itself can be found in his book, "Making Economic Sense". Basically, chaos theory he argued helped to really destroy the credibility of mathematical economics, since even if a mathematical economist...