"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?"

Wednesday, November 4, 2015

Some thoughts

I should be at the coffee shop writing my book, a far less ambitious book than these grandiose tweets imply.

But whatever - this needs to be said. Somebody more famous than me ought to say it, but the only way I can figure for that to happen is for me to get more famous.

They seem to make sense in whatever order, but they were written bottom to top.


Tom said...

These three tweets are very good. Better than your post supporting me, actually.

Michael Tobis said...

Which is the fourth one you didn't like?