New Debt to GDP ratio ...ouch

[Spartacus]

Re: New Debt to GDP ratio ...ouch

Care to flesh this idea out a little?

I don't think there's an analogy to be made between money & wavicles.

You can measure money's velocity & position at the same time.

Even if you couldn't[*], that wouldn't change the nature of reality. nanomoney won't go through 2 slits at the same time.

And I also notice that it seems the "Curse of Heisenberg" is layed upon money as heavily as sub-atomic particles.

Just throwing some ideas out - since I don't know what you mean I'm taking wild stabs at it. I hope you don't pull a "the Secret" out on us.
[*] I lied - you can't. Since no 2 people define money identically you can't measure anything about money anyway.

[ASH]

Re: New Debt to GDP ratio ...ouch

ASH, try this before you read anything about quantitative modelling in economics and finance. It's not macro but very interesting philosophically. If I recall correctly, you have the appropriate background to get into the detail.

Taleb's books are also a good place to start on this particular topic.

Ash:

I am reading "Debt And Delusion" by Peter Warburton right now ... and I am finding it fascinating. It is geared to the "intelligent layman."

I would recommend "More Heat then Light" as a companion to any modern (neoclassical) text.

Thank you, all, for the reading list.

[ljaycox]

Re: New Debt to GDP ratio ...ouch

Earlier in the thread someone pointed out that Galbraith postulated that one could not measure the quantity and velocity of maney at the same time. This reminded me of the uncertainty principle, which Galbraith would have been very familair with since it was quite novel and shocking a the time. I have not a fraction of the econromic understanding to required to comment on the truth of the proposition, but i found it interesting to see it asserted by a respected economist.

Care to flesh this idea out a little?

I don't think there's an analogy to be made between money & wavicles.

You can measure money's velocity & position at the same time.

Even if you couldn't[*], that wouldn't change the nature of reality. nanomoney won't go through 2 slits at the same time.



Just throwing some ideas out - since I don't know what you mean I'm taking wild stabs at it. I hope you don't pull a "the Secret" out on us. [*] I lied - you can't. Since no 2 people define money identically you can't measure anything about money anyway.

[Jeff]

Re: New Debt to GDP ratio ...ouch

The classic Samuelson textbooks for Econ 101 and 301 back in the 70's gave me the basic foundation of non-Austrian stuff that had me retired at 36. I still think the entry Micro and Macroeconomic stuff in here is something every educated or at least literate person should read.