Friday, March 24, 2006

Three Quotes of the Day

Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist. ~Kenneth Boulding (1980)

We need an energy bill that encourages consumption. ~George W. Bush (2002)

George Bush is not an economist.
~Dada (just now)


Anonymous said...

Dada, your economist quote reminds of what I hate most about economists. They pretend it's a "science" and go to elaborate lengths to construct graphs & charts & statistics to "prove" whatever scenario they are portending. When reality fails to match their model (the usual case), they scramble to explain why it did not, with yet more statistics that somehow were not included in their original model. So, I don't call that "science". I think "voodoo economics" comes closest to whatever it is they are trying to foist on the public. (but YOU studied economics, perhaps you can explain WHY it is a science ... use Econ 101 words only please).

And why am I not suprised to find out that GWB thinks an energy bill should encourage consumption? How could an big-oil-man think otherwise? I wonder what the last drop will sell for? D.K.

dada said...

Hi DK: I can't. I can't explain it. Economics isn't a science, is it? (Were you testing me? [grin]) (Er, did I pass?)

As I said here sometime last summer, "I recall a college semester spent in Statistics. I suspect statisticians are angry because its reputation as "The Dismal Science" was stolen by the Economics Department in the 1800's. As a result, Stat instructors nationwide have been punishing students ever since."

And yet, statistics lost that rightfully, as economics demonstrates week in and week out in the punishments meted out to the residents of capitalism unplugged! As many of this world know, economics is a form of terrorism. They live its utter & unrelenting peril of exploitation and impoverishment daily.

So much of current theory is based on the glut of the Oil Age Bubble, hence, the very bases for many of its assumptions were developed in this fishbowl of over-expanded production and population which is given as sustainable! Of course, this is bullshit.

So as global mega-enterprise attains its inevitable end in the declining living standards of the masses scrambling to feed themselves working as enslaved laborers and more and more wars are waged for the few remaining crumbs of resources to sustain everyone, I think we should kick back and observe history unfolding "in interesting times." To try, in our shrinking wealths, to consider each next purchase, each procurement of material with the goal of maximizing our (to coin an old Econ. l0l theory) "marginal propensity to consume and utility maximization" (or some such stuff, ugh).

I can think of no greater homage we can pay Adam Smith and J.M.Keynes as we struggle to catch each breath under the shower of M.Friedman's and Ron Reagan's trickle down economics (i.e., or the "piss on you economics" Bush bastardization of such.)

By the way, did I tell you, "George Bush is not an economist"?

(It takes one who's not to know this. Was that a double negative, Maineiac?)

some_maineiac said...

hahaha, yup, a double negative, but you are well qualified as both a "madman" and an economist to identify either...

there are lies, damned lies and statistics
- author unknown

i could not fathom either economics or statistics in my short-lived attempt at getting a college education, but i know i can prove or disprove any guess anyone might have about a program that doesn't give the desired results by collecting enough data and skewing it towards whatever theory i happen to favor...

and i also think that the various big banks across the country should merge into one uber-bank and adopt truth in advertising to call themselves "united consumer f***ers" (thanks, g.carlin)...consider the case of that attractive single-digit rate you can get for a balance transfer on a credit card...which immediately jumps to the base rate if you are late on 1 payment and leaps to usury for a year if you're late on 2 payments...citibank had me for 30%(!!!) because of poor payment history by my inattentive ex (and i accept my share of blame for allowing that to happen)

enigma4ever said...

New quote " Dada is a genius..."
MENSA application on the way....

Anonymous said...

e4e, good to see you!. Yeah, Dada outdid himself explaining economics. And I fell asleep in econ 101. Only know how it feels to be screwed over by trickle-down (mixed metaphor?). now engima ... scroll down to the provocative impeachment poster & help defend (please).

and maineiac I finally caught that Fidelity inna-gadda-davida TV ad you were talking about before. outrageous appeal to 60's children! even though I felt manipulated, I was still compelled to watch all the peter maxx art. I could practically feel my generation all turning their heads at once to see/hear/reminisce. D.K.

dada said...

Thanks e4e and DK--for the big head you gave me. The swelling's gone down this morning. As for the Mensa app e4e, I fear I'm grossly unqualified. And, besides, isn't that Jeopardy host, Alec Trebec a Mensa, or Mensa wannabe? (Either way, that would be sufficient reason to opt out.)

And Maineiac, by saying, "i know i can prove or disprove any guess anyone might have collecting enough data and skewing it towards whatever theory i happen to favor" testament you've probably forgone a brilliant career with the Bush administration? (grin)

I think your unfortunate experience with the banking industry proves my statement that many "leaders of industry should be in prison." QED!