01 MAR 2016 by ideonexus

 Economic Principles for Students

Here are some examples of the principles that teachers can use to expand concepts presented in formal course material. These principles don't have to be taught in the context of any particular class. It's an empirical question. This is a comment that ought to terminate many more conversations than it does. For many of the questions and issues we discuss, there is an answer available. Look it up and see. There's no point in discussing the merits of taking multivitamins when there are several ...
  1  notes
 
13 MAR 2015 by ideonexus

 Phonetic Spelling Saves Time and Effort Through Fewer Let...

Simplified spelling means shorter spelling. Of the 32 Rules printed in Part 3 of this Handbook, 27 drop letters from words as now speld; 3 involv trans- positions of letters to reconcile conflicting analogies; and 2 involv substitutions of one letter for another, with the same object. In no instance has the Board recommended a change involving the addition of a let- ter to a word. Further simplifications wil result in fur- ther abbreviations. A completely fonetic sistem of notation, ...
  1  notes
 
08 MAR 2015 by ideonexus

 High Rates of Return on College Education Comes with High...

Attending college has been considered one of the most protable investments, annualized returns ranging from 8% to 13% (Card 1999). I utilize a simple approach, as in Mehra and Prescott (1985), to quantify how much of the excess return to college is explained by its risk. I also explore the role played by heterogeneous ability by developing a life-cycle model with endogenous enrollment and analyzing the dropout risk effect on college returns. Under the risk premium approach, the permanent inc...
  1  notes
 
30 JAN 2015 by ideonexus

 The Big and the Little

And Mallow laughed joyously, "You've missed, Sutt, missed as badly as the Commdor himself. You've missed everything, and understood nothing. Look, man, the Empire can replace nothing. The Empire has always been a realm of colossal resources. They've calculated everything in planets, in stellar systems, in whole sectors of the Galaxy. Their generators are gigantic because they thought in gigantic fashion. "But we, – we , our little Foundation, our single world almost with...
  1  notes
 
24 JAN 2015 by ideonexus

 The Soviet Union, Von Neuman Predictions, and Computers

I have a friend, a young American physicist, who spent a year doing theoretical physics in the Soviet Union. He likes to go to the Soviet Union, not because it is a good place to do physics, but because it is a good place to observe the human comedy. When he went back to Leningrad recently for a shorter visit, he received a proposal of marriage and was called in twice for questioning by the KGB, all within the first week. He speaks fluent Russian, and the KGB people find it difficult to belie...
  1  notes
 
24 JAN 2015 by ideonexus

 Economic Forecasting VS Science Fiction Predictions

There are two ways to predict the progress of technology. One way is economic forecasting, the other way is science fiction. Economic forecasting makes predictions by extrapolating curves of growth from the past into the future. Science fiction makes a wild guess and leaves the judgment of its plausibility to the reader. Economic forecasting is useful for predicting the future up to about ten years ahead. Beyond ten years it rapidly becomes meaningless. Beyond ten years the quantitative chang...
  1  notes
 
24 JAN 2015 by ideonexus

 The Unspecialized Will Inherit the Earth

Why is it that our whole economic and political system has tended recently to become so sluggish and inflexible? Why have we become resigned to the idea that nothing substantial can ever be done in less than ten years? Obviously there are many reasons. But I believe the principal reason for this sluggishness is that our whole society has fallen into the same trap as our nuclear industry. Not only in the nuclear industry but in many other industries and public institutions, we have pursued eco...
Folksonomies: economics adaptation
Folksonomies: economics adaptation
  1  notes
 
21 OCT 2014 by ideonexus

 Future Troubadour

The minister sighs abruptly. "You are very unusual. You earn no money, do you? But you are rich, because grateful people who have benefited from your work give you everything you need. You are like a medieval troubadour who has found favor with the aristocracy. Your labor is not alienated – it is given freely, and your means of production is with you always, inside your head." Manfred blinks; the jargon is weirdly technical-sounding but orthogonal to his experience, offering him a disquieti...
Folksonomies: futurism economics
Folksonomies: futurism economics
  1  notes
 
12 OCT 2014 by ideonexus

 Calories as Currency

When the world went on a single currency, they'd tried to coordinate it with the food rationing in some way, hoping to eventually eliminate the ration books, so they'd made the new currency K's, kilocalories, because that's the unit for measuring the energy equivalent of food. But a person who eats 2,000 kilocalories of steak a day obviously has to pay more than a person eating the same amount of bread. So they instituted a sliding "ration factor," so complicated that nobody could understand ...
  1  notes
 
24 JUN 2014 by ideonexus

 The Laffer Curve

The horizontal axis here is level of taxation, and the vertical axis represents the amount of revenue the government takes in from taxpayers. On the left edge of the graph, the tax rate is 0%; in that case, by definition, the government gets no tax revenue. On the right, the tax rate is 100%; whatever income you have, whether from a business you run or a salary you’re paid, goes straight into Uncle Sam’s bag. Which is empty. Because if the government vacuums up every cent of the wage you...
Folksonomies: economics taxation
Folksonomies: economics taxation
  1  notes