COUNTER-SIGNALING NEO-LIBERALISM 😉 (contra free trade)(from econlog) (COMMENT R

COUNTER-SIGNALING NEO-LIBERALISM 😉

(contra free trade)(from econlog)

(COMMENT REJECTED BY ECONLOG – WOW_

Gentlemen (and the economic academy as a whole)

1) it is fairly evident that the value of lower prices declined with completion of the transition from agrarianism. In fact, investors, inventors, entrepreneurs, manufacturers, and distributors, and merchants, have a very hard time selling anything but marketing and status signal deltas. (See research on phones, phone plans, and software for them). What pent up demand for consumption exists? Other than for signals? In fact, it is quite possible to make an argument that status signal consumption is evidence of hyperconsumption and a misallocation of all forms of capital.(See virtue signaling in Austrialia, Canada, and the UK, and among progressives in the USA. What is the cost of virtue signal spirals? How are they made possible? The answer is non-trivial.)

2) Cherry-picking consumption without measuring offsetting costs, and declines in intra-generational, inter-generational capital( capital in toto), is not practicing science. It’s practicing pseudoscience.

3) When was the last time you saw a balance sheet rather than an income statement, and what is the difference in the aggregates illustrated by each?

4) Why does the myth persist that there is a difference in personal, familial, local, regional, and national economics without stating that difference is limited to monetary not capital in toto constraints?

So no. There is a limit to comparative advantage (capital consumption). Free trade, like investment in literacy, is a transitional good not a persistent one. Cities create a false efficiency under all but the German postwar model. They are transitional not absolute goods. Measurement of consumption is a transitional good, not a persistent one. Democracy is a transitional good in the presence of windfalls from technology or resources, republicanism superior during status quo, and fascism superior during periods of war.

A necessary test of pseudoscience is whether limits have been articulated, so that we do not make the error of confusing temporal utility with ‘ideal’ good.

There are no theories without limit except the theory that there are no theories without limit.

20th century economics consists of the study of transition from agrarianism, to industrialism, to informational economies.

What measures are missing? How do we know when the model we used for transition is no longer transitional but purely consumptive of longer term capital?

(Signals)

Curt Doolittle

The Propertarian Institute

Kiev, Ukraine