Category: econocaste

economics .. the short version, since the long is wasted on the young

stock doom> AI bloom

Posted on Posted in big bits, econocaste, Koch Sucker, lost horizon, The Biz, Valley Hi

2025 healthcare dropping .. investment anticipating AI’s influence in the office world.. The office is not diagnostics. the office is dance. automated intelligence, even robotic transport isn’t interactive enough ,accurate enough ,responsible enough to dance in the organizational hive.. it will be introduced; it will work in those places which are most like a machine, and it will fail  the organizations which are most flexible, most humane… AI is touted as being perfect for the unstructured data, but structure is data… organization means data.

until AI is human, you will have to be AI; it’s still a dog that bites and shits more than anything else …

 wealth alone always sucks air out of the life of an economy, out of distribution… it’s just another form of market farces … AI’s bubble is air for the top, for the top of the moneyed. They know this. The bigger the boat, the better at riding a  tide. They also know that tides are essential for their ship.

The buildout of infrastructure will not benefit those on the side.. they will be displaced further. Ever been to the trailer parks among the switchbacks. Hows that internet cable doing. Maybe the satellite brings you a FOX report about what others are buying — sorry, not available at the corner store one town over.

next: The middle wall fall, the bottom will stall

[ AI transcription couldn’t get that phrase even though it will replace 60 to 80% of all entry level white color positions by 2027]

Morning Arrow

Posted on Posted in econocaste, K Street Y, said, stranger land, twits

… finding acolytes… deriving this question: why is it that we denigrate those who question our knowledge? Particularly found amongst innovation experts, teachers of business development laying claim to complete, rigorous knowledge of economics, certainly with regard superior to those amateur economist participating in an economy without PhD skills. War games without basic training.

It is best to avoid calling out: “people who denigrate modern economics – the neo-Marxists, the back-of-the-room scribblers, the wannabe-contrarian-dilletantes” from an endowed hot-tub.

does John and Jean Doe, who were mere Smithies in their daily job, stand a chance — have any luck. Their starting point is never the same. Choice is chuck and duck. Which grid do they play> Giffen, Marshall, Veblen <

The market is no place for economists — Sonnenschein-Mantel-Debreu “Anything Goes”

The invisible hand is taken at faith value ..[ AI TRANS took it at cliche value] https://books.google.ca/books?id=HAiMDU4qv0IC&pg=RA1-PA208&lpg=RA1-PA208#v=onepage&q&f=false

Flower Pot economics — works in small examples

Blackboard Jungle — lots of squiggles, easily erased.

Point out a market that achieved equilibrium, please. 

The main results of this paper are two theorems stating very general conditions under
which a competitive equilibrium will exist. Loosely speaking, the first theorem
asserts that if every individual has initially some positive quantity of every com-
modity available for sale, then a competitive equilibrium will exist. The second
 theorem asserts the existence of competitive equilibrium if there are some types
of labor with the following two properties: (1) each individual can supply some
positive amount of at least one such type of labor; and (2) each such type of
labor has a positive usefulness in the production of desired commodities. The
conditions of the second theorem, particularly, may be expected to be satisfied
in a wide variety of actual situations, though not, for example, if there is insuf-
ficient substitutability in the structure of production. -- Existence of an Equilibrium for a Competitive Economy. Kenneth J. Arrow; Gerard Debreu, 1954