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Chris' blog entry Getting the Story Right
Chris inferrs that ecomomists got it wrong basing analysis and projections on closed economy models. I'm here and registered on this website because I litterally resonated with what I saw in CC. I am a life long musician and have lived outside the matrix all of my life since highshcool. So I know little about economics. It took me about two minutes to find information that seems to dispute Chris' and the author's [ Origin of Wealth ] conclusions that there are economists working from a closed system model. I am seeking clarification on this subject. Here is a quote from one of the first things I found with a google search. It's from enotes.com and quotes something called the encyclopedia of business for whatever it's worth.
"In the real world, the comparatively closed economies are associated with authoritarian political regimes or with low levels of economic development by capitalist standards. Overall, the global trend for several decades has been toward greater openness, as world capitalist production, distribution, and exchange have become increasingly integrated along international and interregional lines. Some notable phenomena include
- the growing participation of the former Eastern bloc nations and developing countries in world markets;
- expansion of trade zones in the Americas such as the North American Free Trade Agreement (NAFTA) and Mercosur;
- the economic integration of Western Europe under a single-currency; and
- the implementation of the General Agreement on Tariffs and Trade, which gradually reduces trade barriers among participating nations." I hope there aren't a lot of examples of this kind of thing. Maybe there's a good reason for the seeming dicotomy. I'd love to hear it.
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Thank you. Sorry I missed the subscribe button. What if I just a notice in my email? That option is x'd in the page but I don't use news readers and am on a mac.
Ron
Hi Ron, and welcome!
Please also note than in future, if you want to discuss one of Chris Martenson's blog entries, you can post a comment directly in response to the blog post, rather than creating a separate new forum topic as you did here. You still have the same options to be notified of replies that the webmaster described above.
Best,
Erik
Thank you. Sorry I missed the subscribe button. What if I just a notice in my email? That option is x'd in the page but I don't use news readers and am on a mac.
Ron
The subscriptions are by email. You're talking about RSS feeds, which are found by clicking the orange RSS icon next to any page title.
Chris wasn't referring to a closed system, in purely economic terms, he was referring to the economists notion that the real world doesn't impinge on the economic world. As such, economists think that there are no real limits to economic activity.
Chris wasn't referring to a closed system, in purely economic terms, he was referring to the economists notion that the real world doesn't impinge on the economic world. As such, economists think that there are no real limits to economic activity.
I couldn't find the actual quote, but Dmitry Orlov an engineer who lived the collapse in Russia said something to the effect of; the global issues we are experiencing right now are obvious to engineers and scientists who have to deal with real world constraints and the consequences of bumping up against them. Modern economic theory was developed inside its own bubble of growth when the bubble was very small and resources seemed unlimited. It hasn't been revised to deal with the reality of the physical world, and it seems to be clueless in many cases when dealing with the reality of human psychology. Take substitution for instance. Are we really doing better if we have to substitute hotdogs for steak because the price of steak has gotten to high?
S
Also it seems goofy not to have the ability to be notified of replys to a thread one is participating in. If it's here I can't find it.
Ron
Please read our FAQs: http://www.chrismartenson.com/faq/conten...
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