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  • Re: The Myth of Economic Bubbles

    Is this supposed to be a refutation? If the creator of an artificial signal is exogenous does this disagree with your own notion of a fluctuation? Would it change if rather than a human interverner it were some other species that had spontaneously evolved the ability to mimic the scent? There are countless examples of this among different species. The
    Posted to Economics Questions (Forum) by edward_1313 on Mon, Aug 16 2010
  • Re: The Myth of Economic Bubbles

    It looks like this thread isn't going anymore but I can't help but chime in. This is primarily to neoclassical. It's a bit long but I think it's worth reading for anyone interested in these issues. Since you seem to regard yourself as purely scientific (which is contrasted with the supposedly "barbaric" theories of the Austrians
    Posted to Economics Questions (Forum) by edward_1313 on Mon, Aug 16 2010
  • Re: Best Fiction (Books or Movies) With a Theme of Freedom

    Well "A Fire Upon the Deep" and "A Deepness in the Sky" are the best stories; and both have libertarian over-tones. "True Names" is what put Vinge on the map as one of the better Sci-fi writers (he was way ahead of his time with regard to the internet, virtual world, and cryptography)--it also has a very libertarian theme
    Posted to General (Forum) by edward_1313 on Sat, Jun 26 2010
  • Re: Best Fiction (Books or Movies) With a Theme of Freedom

    Vernor Vinge books and essays: "The Ungoverned", "True Names", "The Peddler and the Apprentice", "A Fire Upon the Deep", and more!
    Posted to General (Forum) by edward_1313 on Sat, Jun 26 2010
  • Re: George Selgin, champion of 'free banking' believes....

    The problem with Selgin and Co. is their obsession with nominal rigidities that arise from fluctuations in money demand, the classification of which depend on arbirtrary time intervals. Like much of the mainstream they seem to think that anything that doesn't adjust instantaneously is ipso facto detrimental to the economy and therefore in need of
    Posted to Economics Questions (Forum) by edward_1313 on Wed, Sep 9 2009
  • Re: Computer simulations

    Look up Cellular Automata and Agent-Based Modeling. They are essentially the same thing under different headings and they consist of something similar to what you are talking about. You can't really simulate "individuals" though. Rather, CA and ABM simulate individual elements which evolve over time according to a predefined set of finite
    Posted to Economics Questions (Forum) by edward_1313 on Mon, Aug 31 2009
  • Re: My take on the ABCT

    [quote user="Daniel J. Sanchez"] [quote user="krazy kaju"] In Austrian terms, durable consumer goods and capital goods are called "higher order goods."[/quote] Consumer goods are, by definition, not higher order, at least not according to Rothbard in MES... The means to satisfy man’s wants are called goods. These
    Posted to Economics Questions (Forum) by edward_1313 on Mon, May 18 2009
  • Re: How do Selgin/White defend FRB?

    So you're assuming that the banknotes or check money received in exchange for the deposited gold units will not circulate without being redeemed? And you seem to further presuppose that the transfer of check money will not remain in the same bank. Because if these things were not assumed then 100 deposited units with 98 loaned out would effectively
    Posted to Economics Questions (Forum) by edward_1313 on Fri, May 1 2009
  • Re: How do Selgin/White defend FRB?

    [quote user="Selgin"]The claim that free banks don't lend more than is saved is perfectly consistent with their holding only fractional reserves. Suppose I save $100 (letting $ stand for a gold unit), and deposit it with a free bank that can get by on 2% reserves. Then the bank will lend $98, and no more, based on my savings. The lending
    Posted to Economics Questions (Forum) by edward_1313 on Fri, May 1 2009
  • Re: How do Selgin/White defend FRB?

    The car lot example really hits at the basic problem (I think Walter Block often uses it). If someone rents out a parking slot to a buyer by giving the impression that he will be able to use that slot whenever he pleases and then, upon finding out the routine of this buyer, gives another person who has a different schedule the same deal, does this constitute
    Posted to Economics Questions (Forum) by edward_1313 on Thu, Apr 30 2009
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