Re: [OPE] The micro dimension of the Financial Crisis

Date: Tue Nov 11 2008 - 20:15:59 EST

Hi Michael W and Jurriaan:
Here's a couple of micro questions for you: 1. if one wanted to construct a *mathematical model of
industry-wide productivity growth*, how would one be able
to accurately specify the model where: a. changes in the intensity of labor can be affected by cultural beliefs, 'enterprise consciousness' and/or strong nationalist beliefs within the working class ? b. there are rapid qualitative changes taking place in means of production? Doesn't this mean that one has to estimate theprojected rate of moral depreciation of existing constant fixed capital? If so, how? Doesn't it mean that one would have to project how those new technologies - which haven't been developed yet - will potentially economize on the use of constant circulating capital? How is that estimation made? c. how exactly would one mathematically model working class resistance? How would one mathematically express
divisions within the working class?
2. How could one possibly have a reliable predictive model for a
micro topic which is *non-linear and chaotic*?
In solidarity, Jerry

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Received on Tue Nov 11 20:17:42 2008

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