An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Friday, November 13, 2015
David Glasner — Thinking about Interest and Irving Fisher
Economic history and the theory of interest. There's a lot packed into this post.
These sort of discussions always come across as arguing about angels on a pinhead.
- Still stuck within the idea of 'solving' a set of mathematical formula. - Still stuck in the idea that there is some sort of equilibrium to aim for. - Still stuck in the idea that there is some magic curve to be discovered.
None of that is true. All this discussion is merely curve fitting aggregated data.
The pre-condition to being allowed to discuss this stuff should be that they have worked in the financial markets and magically 'curve-fitted' enough aggregate data to gain a persistent advantage. Once they have retired with millions in their bank account, then I'll believe they can determine a useful 'curve'.
These sort of discussions always come across as arguing about angels on a pinhead.
ReplyDelete- Still stuck within the idea of 'solving' a set of mathematical formula.
- Still stuck in the idea that there is some sort of equilibrium to aim for.
- Still stuck in the idea that there is some magic curve to be discovered.
None of that is true. All this discussion is merely curve fitting aggregated data.
The pre-condition to being allowed to discuss this stuff should be that they have worked in the financial markets and magically 'curve-fitted' enough aggregate data to gain a persistent advantage. Once they have retired with millions in their bank account, then I'll believe they can determine a useful 'curve'.