"System change is now inevitable. Either because we do something about it, or because we will be hit by climate change. '...

"We need to develop economic models that are fit for purpose. The current economic frameworks, the ones that dominate our governments, these frameworks... the current economic frameworks, the neoclassical, the market frameworks, can deal with small changes. It can tell you the difference, if a sock company puts up the price of socks, what the demand for socks will be. It cannot tell you about the sorts of system level changes we are talking about here. We would not use an understanding of laminar flow in fluid dynamics to understand turbulent flow. So why is it we are using marginal economics, small incremental change economics, to understand system level changes?"

Thursday, September 6, 2007

Encounter with a Texan

Had a brief conversation this evening with an acquaintance who is a fellow devotee of Warren Hood and the Hoodlums. The topic got round to my work, and soon enough he brought up Michael Crichton.

I allowed as Crichton was alleging that I was only in it for the easy money.

He looked me up and down, my shirt, my shoes, and said "I hope you don't take this wrong, buddy, but y'all don't look like someone who's in it for the money."

1 comment:

Nils Simon said...

You should extend your brief story about that lady and you as a starving grad student on top of your blog with this!