Re: Time?

["John O'Donnell" <jackodonnell@xxxxxxx>]

No, Mason, you're not confused. Economists haven't an
inkling of the meaning of the calculus.

Have you ever seen an economist's proposal that identifies a
rational measure of an effect they claim to be had with the
control they propose to change? Feedback signals seems to be
a missing link of economic analyses.

Mason Clark wrote:
>
> Educate me, please.
>
> I seem forever to be seeing in economics theory the ignoring of time.
>
> Not taking sides or commenting on this particular quotation, but as an example
> that happened to catch my eye this moment:
>
> "familiar proposition that doubling everybody's nominal purchasing power
> overnight doubles the price level"
>
> Frequently I seem to see relationships -- formulas -- stated that assume an
> instant reaction.  But the economy is never in equilibrium (?); all states are
> transitory; and  **the transitions are the essence**.
>
> Am I confused?
>
>         Mason C

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