Economics Questions

Re: a question on how to use the means-ends framework

fakename — Mon, 11 Jan 2010 06:02:05 GMT

filc:

Sometimes economics is very non-intuitive. But when you read all the different points of information the dots will start connecting in your head and it all makes sense!

Oh, hells yes! Especially when you apply econ to history.

Re: a question on how to use the means-ends framework

filc — Mon, 11 Jan 2010 05:37:34 GMT

Sometimes economics is very non-intuitive. But when you read all the different points of information the dots will start connecting in your head and it all makes sense!

Re: a question on how to use the means-ends framework

fakename — Mon, 11 Jan 2010 05:20:38 GMT

Ah, ha! So the value of a means can be connected to an end of equal value based on the discovery of a new satisfaction on the part of the mind or acting man.

and the more means you have to exchange, the more likely you are to exchange a means of lower value first so the more means you have the less expensive life becomes!

This has been a duh moment courtesy of Lilburne.

Re: a question on how to use the means-ends framework

filc — Mon, 11 Jan 2010 02:38:13 GMT

See Lilburne's Marginal Theory of Value comic.

http://picasaweb.google.com/Lilburne2/HumanActionComics3#

Re: a question on how to use the means-ends framework

fakename — Mon, 11 Jan 2010 02:30:03 GMT

thanks for the answers!

I guess then that prices are not really the essential point of an economy but is rather an unspecific symptom of many different actions?

For instance, the economic actor just wants 2 tomatos and purchases it with 1 dollar. But the fact that the prices is $1 for 2T doesn't really matter, what really matters is that the actor gained his end whatever rank it had.

Re: a question on how to use the means-ends framework

DanielMuff — Sun, 10 Jan 2010 21:34:37 GMT

fakename:

one last question. How can you have a loaf of bread that isn't valued towards it's highest end? And then later bid up its value to that end?

Stuff changes and you are now in a different instance.

Re: a question on how to use the means-ends framework

fakename — Sun, 10 Jan 2010 21:19:05 GMT

one last question. How can you have a loaf of bread that isn't valued towards it's highest end? And then later bid up its value to that end?

Re: a question on how to use the means-ends framework

DanielMuff — Sat, 09 Jan 2010 20:18:19 GMT

fakename:

A really simple question but one I don't have the answer to: what happens when you have more means than ends?

If you have 5 loaves of bread but realize that there is no 5th desire?

I think that, by definition, whatever you do with it is considered the 5th desire. Say you throw it away; that was you 5th desire. Say you donate it to charity; that was your 5th desire.

Re: a question on how to use the means-ends framework

fakename — Sat, 09 Jan 2010 20:04:18 GMT

thanks for the answers so far, I know you've got more interesting things to do probably.

One more question: how are prices set exactly using this framework.

So person A makes good 1 and person B makes good 2. The units of good 1 are 10 and the units of good 2 are 5. So if person A has 10 ends (which may or may not involve person B) and each unit of good 1 is sufficient for those ends, then person A may sometimes affect market prices since he only sometimes has to trade with person B? And if person A has 10 needs but person B has only 5 goods what happens then? How are person A's 5 remaining means that are undervalued get bid up to their corresponding ends?

Re: a question on how to use the means-ends framework

sthomper — Sat, 09 Jan 2010 07:17:11 GMT

or it could be considered surplus for emergencies.

i guess similar to daming up rivers to make lakes and surplus water.

Re: a question on how to use the means-ends framework

fakename — Sat, 09 Jan 2010 05:14:22 GMT

Smiling Dave:

You'll think of something. Or else leave it around till it rots, or throw it away or give it away.

An instance of entrepreneurial error? Is it still using something (taking a means and applying to ends) when you determine to not use it?

Re: a question on how to use the means-ends framework

Hairnet — Sat, 09 Jan 2010 05:14:05 GMT

Several answers entered into my brain. I am not sure, but this may help your thoughts.

1. A given person who has more means than ends is satisfied for the time being, until he has different ends.

2. Once another desire arises, that person may attempt to trade that means for another. If the means is something that can be stored, it may be stored.

Re: a question on how to use the means-ends framework

Smiling Dave — Sat, 09 Jan 2010 05:08:22 GMT

You'll think of something. Or else leave it around till it rots, or throw it away or give it away.

a question on how to use the means-ends framework

fakename — Sat, 09 Jan 2010 04:53:08 GMT

A really simple question but one I don't have the answer to: what happens when you have more means than ends?

If you have 5 loaves of bread but realize that there is no 5th desire?