George Giles

Taxation Explicit and Hidden

Governments separate citizens into different sets; those with and those without political power. It is necessary for any government to be such that the set of those without political power must be significantly larger than those that have political power...

Published Fri, Jun 18 2010 10:58 AM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory, Mathematical Analysis, Combinatorics

The Gentle Deflation

If we consider an economy based upon a commodity money like gold the combinatorics are such that price stability will occur first soon followed by a gentle deflation as the inevitable productivity increases are brough to bear via modern technology. This...

Published Wed, May 12 2010 3:46 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory, Mathematical Analysis, Combinatorics

Deceptive Simplicity

Path Integration is a complex yet deceptively simple concept. The mathematical nature of functional integration, aka path integration is rigorous. At the same time one can consider a single individual (actor) following a path. All humans must consume...

Published Wed, May 05 2010 5:19 PM by George Giles

Price of Human Action

Previously I elaborated a method for calculating the results of Human Action using graph theory and some simple combinatoric algorithms. The most important thing in

Published Thu, Apr 29 2010 11:27 PM by George Giles

The Intuitive Qualitative Model of Austrian Theory

This entry ties all the previous post on this subject together, it is rather long and wordy for a blog but the diligent reader will get sa feel for the argument I am making here. If this can be understood the exact mathematical representation will be...

Published Tue, Apr 20 2010 11:41 AM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory, Mathematical Analysis, Combinatorics

Extrema

Human beings use action to implement a perceived extremal solution for possible outcomes. At the heart all of us want to maximize our profit and minmize the costs required for the same. Entrepeneurs, corporation and politicians all apply the same logic...

Published Mon, Apr 05 2010 9:28 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory, Mathematical Analysis, Combinatorics

Definition of Private Property

Austrian Economics is all about property rights and individual liberty. While these concepts are clear in the mind of any devotee of Ludwig Von Mises work they have been more difficult quantify in a rigorous mathematical sense. The model being developed...

Published Tue, Mar 30 2010 5:42 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory

No Equations in Austrian Econometrics

Equality as a state of existence has been much sought after. We seek equal pay, equal protection before the law, equality of opportunity, equality between the races and equality among nations. Keynesian Economists use equations to justify under the facade...

Published Fri, Mar 26 2010 12:23 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory

The Covariant Density of Money

In a previous age market transactions were made by exchanging goods between producers. The cobbler gave the baker shoes and in return received bread. The division of labor allowed those to produce what they were best at, and in this division of labor...

Published Tue, Mar 23 2010 11:24 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory

The Actual Path

Albert Einstein is widely regarded as the twentieth centuries greatest genius. I would like to posit that this is not true but that title really belongs Richard Phillips Feynman. Dr. Feynman was certainly a curious character. He did not like quantum mechanics...

Published Sat, Mar 20 2010 9:48 AM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory

Actors Implement Human Action

Human Action is implemented by actors behaving as their desires drive them. As Ludwig Von Mises said human desire can never be the subject of quantitative mathematics. I propose to say that Human Action can be modeled quite accurately using a branch of...

Published Wed, Mar 17 2010 5:20 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory

The Subsistence Path

Man is an animal and can move around as he sees fit. Animals can follow their objects of desire whereas plants have to just sit and hope the environment supplies what is required. A man can follow whatever path he chooses in order to secure objects of...

Published Mon, Mar 15 2010 8:01 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory

Feedforward Transaction

In the previous posting I discussed the basic operations of the action of a subsistence human culture. Since we are considering the ramificiations of Human Action we will ignore other species. While it can be argued that other species show some of the...

Published Sun, Mar 14 2010 11:31 AM by George Giles

Filed under: Econometrics, Quantitative Austrian Economics, Graph Theory

Feedforward Control

Human Action is designed to alleviate that state of mental tension that exists when one is dissatisfied. Somewhere losts in the mists of time sat a human being cold, wet and hungry and tried to do something about it. This was the first Human Action and...

Published Fri, Mar 12 2010 11:17 AM by George Giles

Filed under: Quantitative Economics, Quantitative Austrian Economics, Graph Theory

The Gonzo School of Austrian Economics

I have written many postings on Lew Rockwell's excellent Pro-Freedom Pro-Market Anti-State web site. Most of these have dealt with items that I felt strongly enough to write about and that I felt were relevant to the current political debate. One...

Published Tue, Mar 09 2010 4:30 PM by George Giles

Filed under: Econometrics, Quantitative Economics, Austrian Economic Theory, Quantitative Austrian Economics, Graph Theory

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Taxation Explicit and Hidden

The Gentle Deflation

Deceptive Simplicity

Price of Human Action

The Intuitive Qualitative Model of Austrian Theory

Extrema

Definition of Private Property

No Equations in Austrian Econometrics

The Covariant Density of Money

The Actual Path

Actors Implement Human Action

The Subsistence Path

Feedforward Transaction

Feedforward Control

The Gonzo School of Austrian Economics