tag:blogger.com,1999:blog-2761684730989137546.post8882900894313467897..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: "Can't See The Wisdom For The Cleverage."mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-78413745547416698392013-09-28T23:54:09.614-04:002013-09-28T23:54:09.614-04:00Thanks for the sane commnets, Ryan.
Goes straight...Thanks for the sane commnets, Ryan.<br /><br />Goes straight to the fact that a complex, evolving system can't be governed by a rules-based approach.<br /><br />Compare a economic market to a physiology. <br /><br />There are no rules in physiology, only constant, feedback-based tuning of all local alignment to group adaptation. Such tuning is based on probability, not rules.<br /><br />Closest we in a market economy can get is pursuit of intent and Desired Outcome, not rules?<br /><br />Roger Ericksonhttps://www.blogger.com/profile/17515506247888521516noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-25503216247458516782013-09-28T10:34:52.804-04:002013-09-28T10:34:52.804-04:00Measuring economic activity and productivity insid...Measuring economic activity and productivity inside and outside companies is very difficult. It isn't only Exxon Mobile or done merely for tax avoidance. Since there are no (credible) standard accounting practices to measure value created in a complex global process, the value attributed to millions of employees in one country and a few employees in another can be radically manipulated. The appearance of high productivity, high value workers and the top 10% being wildly productive can be explained only by accepting some pretty outlandish claims on the lack of productivity and low values for other workers working on the same value production chain. Until government, economists and accountants come to grips with the problem, most economic measurements derived from the various numbers reported to government are so completely and wildly inaccurate as to be useless. Everyone shrugs because they don't like to second guess government statistics for fear of being labelled a conspiracy theorist or a libertarian but this gets to the heart of the issue of why accountants and businessmen think that labor has little value.Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.com