3 ms·
That's a good point and I accept your suggestion. But if we are never likely to even see the beginning of the asymptote, we can just treat it as infinite. And p
by erispoe 10y ago
That's a good point and I accept your suggestion. But if we are never likely to even see the beginning of the asymptote, we can just treat it as infinite. And people understand "virtually infinite" more than "potentially asymptotically endless" even though you're correct.
> Until the economy is majority fad/fashion-driven and ascribes value literally upon human whimsy, it must derive ground truth value out of those laws.
I would disagree with that, but I'm happy to reconsider if you care to explain more. Economy is based on our preferences, as economic agents. The rationality of our preferences is irrelevant to the economic system. In this way, there is no "ground truth". That's supply and demand, not a cost-driven economy. There is no economy outside of interacting economic agents performing transactions, this is what an economy is.