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  • Re: Tutu calls for wealth tax on whites

    I've got to agree with HR here. For someone who seems to think they're are on the side of the anti-racists, CA sure does come off as a racist. Grouping the rich variety of peoples in Africa into "the blacks" is about as ignorant as it gets. Not to mention remaining completely oblvious of the historical conquest of the Khoisan/Bushmen
    Posted to Current Events (Forum) by edward_1313 on Sat, Aug 27 2011
  • Re: Hayek

    [quote user="Danny Sanchez"] (although I don't agree with all of it, like for example the adoption of the Ricardo effect) [/quote] Yeah I not only thought his adoption was an error, but his interpretation of it's meaning as well (Ricardo effect). In fact, I'm very fond of the Ricardo effect, and as I understand it, it's essential
    Posted to Economics Questions (Forum) by edward_1313 on Thu, Jan 13 2011
  • Re: Why do mainstreamers care about monotonic transformations?

    [quote]But really, unless the individual wants to blow all their money on goods X and Y, shouldn't it be u(x,y,w)? So the individual could transition from some state (0,0,w) to (x*,y*,w*)?[/quote] I was just stating the most basic type of problem. Usually the problem is given as follows. There is an individual with a utility function u. This individual
    Posted to Economics Questions (Forum) by edward_1313 on Thu, Jan 6 2011
  • Re: Why do mainstreamers care about monotonic transformations?

    The error is not a simple one. The point of the positive monotonic transform argument is that the optimal choice of the individual is invariant to any such transform. That is, given some utility function u, the individual chooses an optimal bundle (x*,y*) (for the 2 good case). The choice (x*,y*) will not change given any positive montone transform
    Posted to Economics Questions (Forum) by edward_1313 on Wed, Jan 5 2011
  • Re: how state funding corrupts math and science

    I edited my response; there were some errors initially.
    Posted to Political Theory (Forum) by edward_1313 on Wed, Dec 29 2010
  • Re: how state funding corrupts math and science

    [quote user="Zangelbert"]Mathis is claiming that the "+" symbol is misleading in the z = x + yi definition, because normal addition has no allowance for adding a real number to an ordered pair. how does one add a real number x to an ordered pair (0,y)? the obvious answer is that the real number was not actually a real number all
    Posted to Political Theory (Forum) by edward_1313 on Wed, Dec 29 2010
  • Re: Mises and Economic Science 1936–50

    [quote user="abskebabs"]When one tries to do analysis via a pricing model including several variables like the one Patinkin did above, one necessarily must make certain partial variables(and this is similar to the error of assuming that certain variables must hold constant or be independent because there is no other way in which to construct
    Posted to Economics Questions (Forum) by edward_1313 on Fri, Dec 24 2010
  • Re: Critique of Rational Expectations

    [quote user="StrangeLoop"]I read your analogy (repeatedly, actually), but I was unsure of what point you were making; thank you for clarifying. However, I'm not sure anyone is suggesting that profit and loss are the only signals being used to form expectations.[/quote] There are certainly other means by which individuals form expectations
    Posted to Economics Questions (Forum) by edward_1313 on Thu, Oct 7 2010
  • Re: Critique of Rational Expectations

    [quote]Yes, it does. That's what rational expectations is built on. Your example of rational expecatations and actual rational expectations are two different things.[/quote] I really don't have time for amateur drivel. One component (or one assumption) of RE is the assumption of maximizing behavior. I fully assume this in my example. RE is mathematically
    Posted to Economics Questions (Forum) by edward_1313 on Wed, Oct 6 2010
  • Re: Critique of Rational Expectations

    justin, your comment is irrelevant to the discussion. Whether or not we model individuals as maximizing the present value of their expected utility has no bearing on the argument that's being made. Your thinking on a different plane. IF you had been reading the thread carefully you'd also note that I specifically take care to point out that
    Posted to Economics Questions (Forum) by edward_1313 on Tue, Oct 5 2010
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