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>> have already optimized for all these factors Factories and companies start and die all the time. The idea that some steady state equilibrium exists is only
by CraigJPerry 3y ago
>> have already optimized for all these factors
Factories and companies start and die all the time. The idea that some steady state equilibrium exists is only in these BS models.
>> production loss and therefore a loss on economic competitiveness
Apple is less competitive because it makes less iPhones than Samsung?
>> What's the better way?
Stop pretending models predict reality perfectly.
- FirmwareBurner 3y ago>Stop pretending models predict reality perfectly. But what it reality to you and how do you describe it if not by models?
- CraigJPerry 3y ago>> But what it reality to you Complicated. It’s rare for any interesting scenario not to be complicated. >> how do you describe it By aiming for honesty and accuracy but with enough humility to realise these absolutes are unachievable in most interesting cases. To make it more concrete in this particular case It means being careful to state assumptions is essential.
- FirmwareBurner 3y agoBut you haven't described anything, you just said it's complicated.