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I'd say that it is less than "terrifying" to plot the national debt on a log scale. Most numbers in economics (and in nature) vary in an exponential manner. Con
by cduan 18y ago
I'd say that it is less than "terrifying" to plot the national debt on a log scale. Most numbers in economics (and in nature) vary in an exponential manner. Consider, for example, inflation, interest rates, and population growth. Nature deals in ratios; it is only human afterthought that adds units to measurements.
One incidental result of the fact that numbers tend to vary exponentially is that the first digit of a measured number is most likely 1 and least likely 9. See http://en.wikipedia.org/wiki/Benford%27s_law http://en.wikipedia.org/wiki/Benford%27s_law .
- nostrademons 18y agoMost are actually sigmoidal. Exponential growth is unbounded, but most growth functions in nature have some upper bound set by the environment. Debt's a curious one though. It grows exponentially, but it tends to "reset" at times through various currency crises, at which point the currency is replaced entirely.