Monday, November 23, 2015

Race to the bottom


10 comments:

  1. Hi Vincent! Where's the link to your simulation? I was discussing with Jason possible interactive tools for blogs, and I wanted to point him to yours, but now I can't find it.
    http://informationtransfereconomics.blogspot.com/2015/11/dsge-form-of-it-model-active-but-not.html?showComment=1448654065910#c4772271189198690592

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    1. Here it is http://howfiatdies.blogspot.com/2013/03/simulating-hyperinflation.html?m=1

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    2. Thanks! Is there a link to it on your home page?

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    3. Hey Vincent, Jason Smith recently wrote a response to Steve Roth elucidating his views on what noney is.

      The statement in the title:

      "Money is that which is conserved via a symmetry principle"

      he added a modifier to in a comment to me on a subsequent post:

      "I probably should have said "when economics obeys the symmetry principle" because it doesn't always and therefore money can lose its value."

      This is an addition to a view he's expressed in an earlier post:

      "Money is a thing that mediates transactions and has high information entropy"

      What do you think? Does gold have too high an intrinsic value to have a high enough "information entropy?"

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  2. Vincent, have you ever looked into Roger Farmer's "belief function?" Here's an older post:
    http://rogerfarmerblog.blogspot.com/2015/07/why-belief-function-matters.html

    This newer one touches on it:
    http://rogerfarmerblog.blogspot.com/2016/01/please-lets-agree-to-speak-same-language.html

    On that second one I like the "self fulfilling prophecy" phrase. I thought you'd like this too since perhaps it could provide a path to hyperinflation (even out of a clear blue sky?).

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  3. Thanks! I commented on the second one.

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    1. BTW, that commentator John Handley you interacted with on Jason's blog (concerning hyperinflation in Japan) is somebody to keep your eye on: I didn't realize he's only 15... ... there's a lot of good stuff on his blog.

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  4. Vincent, Jason is exploring the possibility of a new "information equilibrium" relationship, this time between the civilian labor force and CPI. He looks at results for both the US and Japan.
    http://informationtransfereconomics.blogspot.com/2016/01/is-cpi-information-theoretic-measure-of.html

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  5. Vincent, check out the news from Japan:
    http://www.nytimes.com/2016/01/30/business/international/japan-interest-rate.html?_r=0

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Looking for polite debate on ideas. Never attack a person. Be nice.