Archived posting to the Leica Users Group, 2011/03/12
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]On Mar 12, 2011, at 1:23 PM, Rei Shinozuka wrote: > the get out of jail card is the total factor productivity term (TFP) which > is associated with innovation, technology and so on. there are no > limitations to the growth of TFP unlike the other inputs. > > the formulation of TFP within cobb-douglas is an illustration that > economics is not the shuffling of resources from one person to > another--value really does get created along the way. Do any of those formulas factor in: 1) depletion of resources 2) real cost to eco-systems 3) climate change 4) depletion of top soil by de-forestation poor agricultural practices 5) effects and costs of heavy metals, pesticides, herbicides on health and environment 6) nuclear power plant melt downs 7) earth quakes and costs of reconstruction 8) depletion of oceanic food supplies 9) over population - regionally or globally 10) cost of health care locally, regionally or globally 11) infant mortality 12) effects and costs of war 13) effects and costs of famine 14) disease control (the list is endless - and they're real costs which must be factored in sooner or later) I doubt the formulas consider the plunder of resources from the Indigenous populations. They're economists' formulas and have little to do with sustainable, healthy cultures or social justice. They're attempts to figure out how to profit from exploitation of capital and labor; and assume that resources do not belong to the common good of the population; but rather to "capitalists." Regards, George Lottermoser george at imagist.com http://www.imagist.com http://www.imagist.com/blog http://www.linkedin.com/in/imagist