I’m not even sure that the concept of economic growth is compatible with the notion of equilibrium.
Reply
Richard Murphy says:
November 12 2021 at 12:20 pm
Neo-classicists would disagree with youReply
No, not really. Equilibrium is a static state. Economic growth is driven by technological change. Tech change disrupts the equilibrium….
It’s hard to understand how even someone as thick as Spud could write something so obviously stupid
I just made the mistake of going to his blog. His acolytes are, if anything, of such a calibre that the single braincelled man is king. I wonder how these people manage to cope with the everyday problems of living, such as the order in which you put on undergarments and overgarments. I bet they sleep with their socks on
I’m not even sure that the concept of […] growth is compatible with the notion of equilibrium.
No knowledge of economics is necessary to get to grips with this which ought to be a bonus for Capt. Potato.
But no; where nothing more than an understanding of language would be enough he also comes up short and is reduced to running one of his tired hobby-horses around the tiny manège of his blog.
I’ve had to knit three sockpuppets so far, somehow I can’t stop myself insisting that reality exists and Lord Spuddy sees through me.
Equilibrium simply means that any forces present are balanced against each other, which means there’s no more accelleration. Still says nothing about the actual momentum…
Easy to prove in physics and chemistry given that you can reduce the problem ultimately to vector math.
Not so sure it’s as easy to do in economics with it’s inherent inertia and huge and complex feedback loops, but the principle remains the same.
@ Diogenes “His acolytes are, if anything, of such a calibre that the single braincelled man is king”
The loathsome “Pilgrim Slight Return” had a rare moment of clarity when he wrote “I can only agree”. And that’s all he ever does, no matter what bat shit crazy stuff Spud writes, PSR agrees.
It’s obvious that PSR is a sour bitter failure in life, constantly whining about other people’s success. The perfect acolyte to Spud.
I once tried to post as Pilgrim Slight Retard which I thought had the benefit of being honest though you might quibble about the “slight”. Didn’t get through, sadly, so an outing for Markus Wolf instead.
@AndrewC: I’ve always assumed that PSR is actually Spud in a sock. I find it difficult to believe that any individual can be that brain destroyingly sycophantic and still be capable of typing (or breathing).