although neither Mill nor Keynes used them
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I also test Mill’s idea on stock market data from the same nations and
…return and cash flow were equal. Growth is free whenever cash flow rate rises or holds steady. The Charts and Tables Mill lacked data to test whether growth tends to lead with output when it changes, or to lag with consumption, or something else. So did all economists until na...
…ermany, mass rapes took place in the occupied territory during the war and after. Some historians say that as many as 2 million German women might have been raped. #25 'Leap Into Freedom' Image source: TIME After post-war Berlin was divided into four occupation zones, the living...
…in (4.7a) can be constructed as consumption plus current change in market-valued capital. By (4.7), free growth theory (Mill’s idea) predicts a roughly constant consumption/capital ratio, even in accelerations and decelerations and reversals. Then capital acceleration would lag a...
and J. S. Mill and later by behavioral psychologists, like Pavlov and B. F. Skinner. On this view, the abstractness and hierarchical structure of representations is something of an illusion, or at least an epiphenomenon. All the work can be done by association and pattern detecti...
and J. S. Mill and later by behavioral psychologists, like Pavlov and B. F. Skinner. On this view, the abstractness and hierarchical structure of representations is something of an illusion, or at least an epiphenomenon. All the work can be done by association and pattern detecti...
…ee growth index + thrift index, (4.6a) where indexes are undefined if acceleration is zero. I think this gets at what Mill meant, and anyhow what I mean. We both describe acceleration as well as growth. One night think that his “whatever increases the productive power of labor”...
the mill wheel and the millstone. As Rumi said
…s positive or negative, is nearer one. The wonderful books of Einstein (with Enfeld) and Steven Hawking, not to mention Mill, show that even calculus can be put that way. My task has been to follow their tough act. But I will now start to infiltrate notation where | think that th...
but now it’s just “run-of-the-mill” terrible instead of “look-out-for-that-bank/countryit’s-about-to-default”
I would pretend to accept the Y = 1 + C equation as Mill and all
…which I call thrift, only asa mathematical possibility which doesn’t seem to happen. So my idea, taking account of data Mill didn’t have, is different from his. 1 must be careful not to put my ideas in his mouth. When I say “Mill’s idea”, from now on, | will mean some of both....
…assical wisdom had survived a hundred years of national chaos. Nan’s wandering education resembled the way in which, in millennia past, monks would make spiritual marathons around China, seeking an ever-sharper edge to their insights. Solitary monks would stride into packed monas...
…l argue that optimal investment at the national scale, strange as it sounds, is depreciation plowback and nothing more. Mill showed how that could be true. The same growth will arrive, say he and | and the charts and tables, with no consumption sacrificed. More consumption at no...