“Having a rational discussion with these guys is something like having afternoon tea with a couple of hyperactive ferrets.”
Actually, something fun — and remarkable — is happening. Macroeconomists are doing some hard thinking about how a math construct might differ from an actual money-using market process. Or at least, they are trying to do such thinking. No surprise, they aren’t very good at it.
But it’s entertaining, none the less. Catch the action and follow the links here. The whole thing was basically set in motion by this and this.
But that’s not all! (as they say on TV) . It’s also Back to Wicksell week. (Just don’t be so gauche as to mention disaggregated and changing production processes or the influence of changing money supplies and interest rates on any of that … ).
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To paraphrase Dr. Johnson:
“An economist thinking about the inadequacies of a math construct is like a dog’s walking on his hind legs. It is not done well; but you are surprised to find it done at all.”
Micro and Macro Economic mutuality is one and the same as that between the
human Individual and Society Mutuality.
While the math-construct can be a tool to arrive at the efficiency count at the macro level economics… It is the ethic-construct that is the needed tool to arrive at the ‘efficacy’ count of
economics at the micro-level,
So we have to seek the relation between maths and ethics .. conceptually speaking that is – in order to grasp the real meaning of macro and micro contexts.
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