RE: [OPE] Jim Devine's model of the recent economic collapse.

Date: Wed Oct 14 2009 - 09:43:36 EDT

> It's an interesting and useful paper as a summary mathematical description,
> but from my perspective I would say that the whole paper could be rewritten
> without any reference to "equilibrium" at all, simply by referring to the
> transition from one economic configuration to another configuration. Since
> there is never any balance between supply and demand, the best we can say is
> that at a certain point the imbalances became sufficiently large to be
> unsustainable, meaning the economy as a whole cannot adjust to them without
> a drop in employment, investment and output. To sustain the monetary and
> price regime then involves half the growth rate and double the unemployment
> rate, assuming no significant change in social behaviour.


Hi Jurriaan:


How did you come up with the specific required proportions in the last sentence?


In solidarity, Jerry

ope mailing list
Received on Wed Oct 14 09:48:59 2009

This archive was generated by hypermail 2.1.8 : Sat Oct 31 2009 - 00:00:02 EDT