tag:blogger.com,1999:blog-4900303239154048192.post1798632440667619779..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: MAXimizing Utility?Unknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4900303239154048192.post-51939876765456429772014-09-19T18:25:41.212-04:002014-09-19T18:25:41.212-04:00Nope. I let Hutchison and Cardinal Newman, Nassau ...Nope. I let Hutchison and Cardinal Newman, Nassau Senior, John Cairnes and William Thornton, A.C. Pigou and Maurice Dobb, Maynard Keynes and Frank Knight do the hard slogging. I'm just skimming the surface. <br /><br />If you read what I actually wrote instead of assuming I said something I didn't say, you'll notice that I specifically pointed out that "quite a bit of useful work to be done" is <i>not untrue</i>. Just that it is empirically vacuous. Bud Myers's expectation of human labor becoming obsolete is ALSO empirically vacuous, by the way. <br /><br />My point may be subtle with regard to the trivial "work to be done" claim but there are much bigger methodological fish at stake -- such as utility maximization, equilibrium, perfect expectations and uncertainty.Sandwichmanhttps://www.blogger.com/profile/11159060882083015637noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-59344049050235831982014-09-19T17:31:30.803-04:002014-09-19T17:31:30.803-04:00Oy. I'd say you're over-thinking this. We ...Oy. I'd say you're over-thinking this. We observe continuous advance of technology and creation and destruction of jobs. There is no reason of which I am aware it will stop.MaxSpeakhttps://www.blogger.com/profile/08594964334301228571noreply@blogger.com