Reply To: Measuring Economic Equilibrium


Hi Bob,

I don’t think of people as mindless, but I do think they tend to follow particular incentives that they are biologically biased toward. Akin to the seven deadly sins that Catholics talk about, there are certain common themes that all humans tend move to.

Human populations are too complex to be modeled in simple equations, and economies are probably almost as complex. But we so is the weather, and no one will say we will ever totally model our ecosystem so as to be able to predict weather with 100% certainly…but it can be very helpful to “try” because we do get something out of it.

Sliding into even further into an off-topic point, I believe strongly in God, and I think of God as a creator of great order. Even the disorder of the weather has a purpose, as does the disorder of humans. This is a crazy thought, but I think God created a system of wonderful laws, rules and equations. As we discover the laws of science and nature (and humans) we slowly lift the veil on those equations…..but I think they are so complex that we probably don’t fully appreciate the “truths” that we think we currently have mastered.