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Source link: http://archive.mises.org/20984/epub-foundations-of-the-market-price-system/

ePub: Foundations of the Market Price System

February 10, 2012 by

Foundations of the Market Price System eBooks, Mises Institute

{ 6 comments }

Keb Radics February 10, 2012 at 8:17 am

You people kick ass. You know this right? Thanks for the epub format. Your making my efforts to educate others easier every day.

Mitch February 10, 2012 at 8:46 am

Well, this will be going on my Nook Simple Touch tonight. Thanks Mises.org

Chris Tylor February 10, 2012 at 9:49 am

Thanks for your support of the epub format and of free books. Amazing, we have will have an army of Ron Pauls in 25 years…

fractalist February 12, 2012 at 3:18 pm

Saturation Macroeconomics: Gobbledy-Gook or the Real Deal?

Time for a new mathematical model, a new paradigm, for macroeconomics?

Is there a patterned science representing the time dependent evolution of macroeconomics?

The last paragraph of the Economic Fractalist main page http://www.economicfractalist.com/ ….

The ideal growth fractal time sequence is X, 2.5X, 2X and 1.5-1.6X. The first two cycles include a saturation transitional point and decay process in the terminal portion of the cycles. A sudden nonlinear drop in the last 0.5x time period of the 2.5X is the hallmark of a second cycle and characterizes this most recognizable cycle. After the nonlinear gap drop, the third cycle begins. This means that the second cycle can last anywhere in length from 2x to 2.5x. The third cycle 2X is primarily a growth cycle with a lower saturation point and decay process followed by a higher saturation point. The last 1.5-1.6X cycle is primarily a decay cycle interrupted with a mid area growth period. Near ideal fractal cycles can be seen in the trading valuations of many commodities and individual stocks. Most of the cycles are caricatures of the ideal and conform to Gompertz mathematical type saturation and decay curves.

For the Wilshire, the US composite equity index March 09 to October 2011 was a 4 phased Lammert growth and decay fractal series..

x/2.5x/2x/1.5x :: 5/13/10/7 months. That’s an empirical real system observation – available to all – of the time dependent workings of the macroeconomic system.

2005 was the description, the hypothesis – March 2009 to October 2011 was the empirical asset valuation evolution…

The flash crash on 6 May 2010 ….. does that not meet second fractal criteria?

“A sudden nonlinear drop in the last 0.5x time period of the 2.5X is the hallmark of a second cycle and characterizes this most recognizable cycle.”

Maybe this is all occurring by chance alone …. Likely…. Very very very likely ….not.

Daniel February 12, 2012 at 8:54 pm

Get out of here, S.T.A.L.K.E.R.

Bruce Koerber February 14, 2012 at 9:34 pm

Here is my acknowledgement to Dr. Milton Shapiro that appeared in “The HUMAN ESSENCE of Economics” (2009)

Acknowledgement

In the interim between 2006 when I published DIVINE MICROECONOMY: A Tapestry of Human Virtues and the present I became aware of a book written by Milton Shapiro. It came to my attention when I was browsing on the Mises Institute website where it was very highly recommended as a book about microeconomics from an Austrian economics perspective.

Dr. Milton Shapiro considers himself a devoted student of Mises, who he says ‘humanized economics.’ Inspired by Human Action and other works of Ludwig von Mises Milton Shapiro wrote Foundations of the Market Price System.

I found myself greatly impressed with this book written by Dr. Shapiro, who taught economics at California State Polytechnic University, Pomona for 25 years. After corresponding and speaking with Dr. Shapiro he agreed to allow me to acknowledge my indebtedness to the clarity and precision of his insights put forth in his book.

Part of my indebtedness to Dr. Shapiro is due to the information conveyed in the diagrams found in Foundations of the Market Price System which I modified and used in Chapter Three to help me to describe the core economic concepts. These include Diagram III B, Diagram III C, Diagram III D, Diagram III E, Diagram III F, Diagram III G, Diagram III H, and Table III A.

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