Is there something called swiss banking association as the article mentions though I know that something like swiss bankers association report exists.
If indeed what this report is saying is true and the figures are correct, I feel vindicated.
Monday, December 22, 2008
Friday, December 12, 2008
Idiot Savants
Our education system seems to create more Idiot savants than intelligent people. By this I mean people who are ' taught' to think inside a frame. Ideology is another one such idiot savant creating mechanism. Look at how leaders and followers of some of the ' successful' ideologies live ' comfortably' dumb with a series of ' in frame' assertions, its external validity notwithstanding. More worrying is the fact that even mainstream subjets like economics, management etc is falling it into the trap where mathematics as the mechanism.
Debate on AE
http://www.gmu.edu/departments/economics/bcaplan/whyaust.htm - a critique
http://www.gmu.edu/departments/economics/pboettke/pubs/articles/wrong.htm - supporter
more follows
Neo classical economics core building blocks
1. Utility functions
2. Indifference analysis
3. Pareto analysis ( Kaider-Hicks approach)
The point of investigation is how Austrian Economics critique this formulation and offers alternate explanation or alternate philisophical grounding.
2. Indifference analysis
3. Pareto analysis ( Kaider-Hicks approach)
The point of investigation is how Austrian Economics critique this formulation and offers alternate explanation or alternate philisophical grounding.
Wednesday, December 10, 2008
Methodoly Debate
In his book on The Scope and Method of Political Economy, John Neville Keynes distinguishes among "a positive science . . . a body of systematized knowledge concerning what is; a normative or regulative science ... a body of systematized knowledge discussing criteria of what ought to be . . . ; an art ... a system of rules for the attainment of a given end" and later comments that "confusion between them is common and has been the source of many mischievous errors". I could not agree more. when I say this, i refer more to the debate inside subject's ( researcher) mind than the larger debate or methodological wars.
Positive economics is in principle independent of any particular ethical position or normative judgments. As Keynes says, it deals with "what is," not with "what ought to be." Its task is to provide a system of generalizations that can be used to make correct predictions about
the consequences of any change in circumstances. Its performance is to be judged by the precision, scope, and conformity with experience of the predictions it yields.
Formal logic and mathematics, which are both tautologies, are essential aids in checking the correctness of reasoning in this case. And the usefulness of the tautologies themselves ultimately depends on the acceptability of the substantive hypotheses that suggest the particular categories into which they organize the refractory empirical phenomena
More Later..
Positive economics is in principle independent of any particular ethical position or normative judgments. As Keynes says, it deals with "what is," not with "what ought to be." Its task is to provide a system of generalizations that can be used to make correct predictions about
the consequences of any change in circumstances. Its performance is to be judged by the precision, scope, and conformity with experience of the predictions it yields.
Formal logic and mathematics, which are both tautologies, are essential aids in checking the correctness of reasoning in this case. And the usefulness of the tautologies themselves ultimately depends on the acceptability of the substantive hypotheses that suggest the particular categories into which they organize the refractory empirical phenomena
More Later..
Tuesday, December 9, 2008
Austrian economics
This paradigm in economics/ philosophy has caught my imagination in a very positive sense. A feeling of having reached a philosophical shore. I look forward to visit Von Mises institute to interact with some of the worthies there. I would try to summarise the core philosophy of austrian economics here. later i would want to write on why I am attracted and why it would go along with my own sense of ' hindu way of living'.
1. Its emphasis on praxeology vis-a -vis phychology. Praxeology can be understood as the science of human action. The essential difference , it seems to me as of now, is in accepting the core motivation of human action. Human action is conceived as those which are done to reduce dissatisfactions one after the other. Actions are executed in the order of priority of the dissatisfactions. In this sense, praxeology negates the cardinal utility principle of psychology and the the derived mathematical economics. Need to understand more here.
2. Austrian economics support market economy in its true form. It even argues in favour of no tax on profits.
3. There is the presence of ' subjectivism' in its logic and in that sense it is a critique of the formal methods in economics. More on this later as I need more rigorous reading to undeestand the subtelities in the critique.
4. The subjectivism logic explains the difference in understanding ' value ' between the classical economics and Austrian economics.
More later....
1. Its emphasis on praxeology vis-a -vis phychology. Praxeology can be understood as the science of human action. The essential difference , it seems to me as of now, is in accepting the core motivation of human action. Human action is conceived as those which are done to reduce dissatisfactions one after the other. Actions are executed in the order of priority of the dissatisfactions. In this sense, praxeology negates the cardinal utility principle of psychology and the the derived mathematical economics. Need to understand more here.
2. Austrian economics support market economy in its true form. It even argues in favour of no tax on profits.
3. There is the presence of ' subjectivism' in its logic and in that sense it is a critique of the formal methods in economics. More on this later as I need more rigorous reading to undeestand the subtelities in the critique.
4. The subjectivism logic explains the difference in understanding ' value ' between the classical economics and Austrian economics.
More later....
Seduction and Sedulousness
My starting point here is in understanding the relationship between Seduction and Sedulousness. The etymological connections are unknown, atleast to me at this point in time. And i am guided by an intuitic sense of some close connection. I tried to deconstruct the feeling and here is the result.
Both seems to mean pursuit of a preferred or desired goal. while seduction requires presevereness and attention to detail, sedulousness mean preseverance.
Can seduction and sedulousness be paralleled to eros and logos? I feel so and to a good extent.
Both seems to mean pursuit of a preferred or desired goal. while seduction requires presevereness and attention to detail, sedulousness mean preseverance.
Can seduction and sedulousness be paralleled to eros and logos? I feel so and to a good extent.
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