The Radford Free Press – Page 14 – All life is problem solving.

Uncategorized / Alan Greenspan, banking, cryptocurrency, finance, FTX, plutocracy, Summers /

FTX Exposed — Wall Street Not so Much

December 13, 2022

Let’s not dwell on this too long. It simply isn’t that important in itself. Cryptocurrencies have never been a serious solution to a problem in the real world. They were, and still are, strange outcomes of a paranoia born well back in time, but which burst forth in current from as a consequence of the […]

Economics, Politics, Uncategorized / Democrats, elections, inflation, minimum wage, unemployment /

Reflections on the Election results

December 8, 2022

Let the dust settle. Absorb the information embedded in the results. Take a deep breath and avoid partisan primping. First: this election was insanely expensive. Candidates seeking election to Federal office spent an estimated $8.9 billion. Their state level counterparts spent a further $7.8 billion. Second: all that expenditure had little effect. Sure, the […]

Economics / economic theory, Economics, General equilibrium, Hutton, Philip George, real world economics /

We Need Our Hutton

September 21, 2022

This caught my eye: “Debreu noted in his Nobel Prize lecture that the success of the mathematization of economic theory depended “on the fact that the commodity space has the structure of a real vector space”. We have shown that this is incorrect. The “price vector” is not a vector, and GET [General Equilibrium Theory] […]