I started out today wanting to discuss economic assimilation, and found that the World considered it to be something other than what I do; after a short period studying Search results. I started to gird myself to take on the entire World over the definition of the Term; then reconsidered in the face of possibly losing the Contest. I decided to get sneaky, and act somewhat more temperate in manner. I felt an impulse to simply ask what economists call the process where the reaction Starts and Ends when one economic force blends into another. I ask this to understand the length and duration of economic pressures, something which I feel is very important before you can even discuss Stimulus or financial liquidity. How long does a Materials Shortage actually last, and Who calls the Safe on Base? My intention was perfectly innocent in all this, as I was simply trying to establish some boundaries for economic policy other than a Time scale. The excellent Post by Menzie Chinn inspired my quest for understanding about economic assimilation of economic forces; this does not mean, kiddies, that your can avoid reading the Menzie Chinn message which has a vitality which must be read.
One of the basic hazards of economics come from the lack of clinical conditions for studying the economic effects of Change. It is here that economists fail of the precision of Science, as We can never produce Results which can be replicated across two separate spectrums. Close counts in Horseshoes and Grenades, but the outcomes are still very imprecise even there. So it is with economics. I still believe that there is Beauty within the Beast, and it is not simply and solely the fancy Graphs. We are basically in search of that diamond cut perfectly, which contains no flaws.
I know that there are Those out there who would suggest that beauty appeared more rapidly, if one has subjected himself to a uniform, structured education in the study of economics. There are some of us, though, who cannot withstand the rigidity and Cost of such advanced education; to say nothing of the Time expenditure. Economics should have a relevance among All, not just to a specialized Ph.D. A rather greater concentration upon the Endpoints of economic forces could be in order to understand the flows of economics. One should think of the Populations data of mathematics, with all those interacting circles of differing conjunction. One needs this type of theory, after which one can determine what part of the economy any action, policy, or force might affect. The largesse of the circle circumferences could outline the power and impact of the condition within the greater economic circle. Here I started out writing on economics for the specific purpose of avoiding the Graphs! Life leads one down strange paths. lgl