Paul CL Emberton (@pcl_embert1649) 's Twitter Profile
Paul CL Emberton

@pcl_embert1649

ID: 1675947540783460353

calendar_today03-07-2023 19:20:41

2,2K Tweet

29 Followers

94 Following

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From the new book "Confiscated World" by Orain. Liberalism vs statism is outdated dichotomy. Now we deal with notions of limits to growth, viewing global economy as a zero sum game vs positive sum games. Neomercantilism.

From the new book "Confiscated World" by Orain. Liberalism vs statism is outdated dichotomy.  Now we deal with notions of limits to growth,  viewing global economy as a zero sum game vs positive sum games.
Neomercantilism.
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GDP is fading as metric for gauging economic wellbeing. We need to be looking at Amartya Sen's concepts of development as freedom. And that's just taking a narrow human perspective. We share a planet with myriad other life forms

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. Van Jackson crystallizes that weird yet familiar vibe in today's us where normal middle class white stuff coexists with nonwhites facing fascist threats from regime kidnap squads. Drinking mint juleps on the veranda while the slaves scream from the whipping

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There's a lot of macro and finance "analysis" and most of it is nugatory. That's the point of Keynes 1937 QJE article "we simply do not know" So what do we do ? We pretend.

There's a lot of macro and finance "analysis"  and most of it is nugatory. That's the point of Keynes 1937 QJE article  "we simply do not know"
So what do we do ? We pretend.
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“Humans think they are free, conscious beings, when in truth they are deluded animals. At the same time they never cease trying to escape from what they imagine themselves to be." John Gray, English philosopher U of Bath

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Nothing in biology, including human systems, makes sense except in the light of the maximum power principle. (Extract below is about Carey King's book on Economic Superorganism)

Nothing in biology, including human systems, makes sense except in the light of the maximum power principle. (Extract below is about Carey King's book on Economic Superorganism)
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Growth of knowledge is key to economic growth, and growth of knowledge about energy the most important element of that. 1750 - 1900 revolution in understanding concept of energy, formulation of laws of thermodynamics.

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Biophysical approach to economics, looks at economy as a system of material and energy flows, not monetary. In such a realization, the waste products and pollution are clearly integral part of the economy, whereas standard focus on money and exchange renders it invisible.

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The growth of knowledge is the obverse of increased energy throughput. Therefore the idea that "technology" eg Artificial Intelligence can help to reduce energy usage is chimerical

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There are different and complementary "modalities" of growth. Growth can manifest as increase in population, increased health or robustness of the population, increase in command of material resources ("per capita" growth).

There are different and complementary "modalities" of growth. Growth can manifest as increase in population, increased health or robustness of the population, increase in command of material resources ("per capita" growth).
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Lotka's principle of maximum energy flux depends on Boltzmann's idea that in the competitive world in which evolutionary processes take place, organisms can in many cases gain an advantage if they can gather more energy than the competition . (Hall 2023)

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Most know something about Darwin's concept of natural selection and how it causes species to evolve over time; but many people do not know that Ludwig Boltzmann and Alfred Lotka proposed that natural selection be viewed from a thermodynamic perspective.

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Three key energy revolutions in human history: Paleolithic use of fire, neolithic agricultural revolution and the fossil fueled industrial revolution.

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China's rise is well explained by neoclassical growth model. So we are told "without a smile on the face" to quote Keynes in a different context sas.upenn.edu/~jesusfv/Neocl…