Friday, October 10, 2014

More Krugman on Limits to Growth

Contra Krugman's facetious claims, I suspect that Jay Forrester had some idea that Economists run their models on computers.

But the key difference is that Forrester ran Dynamic models, not Static Equilibrium models.

That's a very interesting and very different way of doing things.

In doing that, Jay Forrester was a pioneer far more significant to a real social science than any of the immoral philosophers following and including Adam Smith and mathematical scribblers.

Jay Forrester was actually looking at what economists claim to think about but never actually do--scarce resources.  You can't even think about Limits to Growth within a static model.

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