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View Diary: Morning Feature: Animal Spirits, Part IV - Conclusion and Critique (Non-Cynical Saturday) (91 comments)

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  •  Something that just is what it is and is valuable (2+ / 0-)
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    Orinoco, winterbanyan

    is an asset.  Its not thought to be valueless by economist, it just isn't counted by measure that measure production.

    Economics ISN'T interested in the management of the household, it is interested in how society organizes scarce resources.  
    The rest of your post I didn't really understand.

    •  Economy comes from the Greek for (4+ / 0-)
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      bink, Orinoco, DBunn, NCrissieB

      household management.  It may well be that the modern economist's disregard for the household accounts for most of economic predictions turning out to be wrong.

      Households deal with material quantities, so it should be possible to come up with accurate measures, even when they're translated into ones and zeros.  That they don't suggests that they're measuring the wrong stuff.

      Like measuring the unemployed as a sub-set of the formerly employed and leaving out the never employed.  

      How do you tell a predator from a protector? The predator will eat you sooner rather than later.

      by hannah on Sat Jul 11, 2009 at 06:22:39 AM PDT

      [ Parent ]

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