/sci/ - Science & Math

what does /sci/ think about econometrics ?

>>3917049

Monetary calculation to compare factors of production and opportunity costs is a necessity for any rational economic calculation, substitution of it by calculation in kind has been impossible in theory and in practice. Even theoretical systems of alternative economies with no money only work when you create a unit of accounting that pretty much IS money with another name.

Tl;dr: Money is important as fuck for civilization, and if you think you can "just abolish it", go read a book on economics.

For the exact reason that there is no such thing as a metric to measure subjective desires or an agreement on what "well being means", Laissez-Faire is the best possible policy.

>>3384964

Psychological and sociological inquiry may discover what makes a specific society happier in general at a specific point in time. But no "scientific government" can ever discover what makes the individual happy, specially when dealing with economic policy, given the stablished fact that the marginal utility/satisfaction given from goods and services is ordinal and cannot be cardinally measured in an empirical way by a 3rd party. The best is to let individuals free to make their own choices in happiness with out State coercive policies to promote what they think will cause happiness.

A resource based economy would abolish the market economy and de facto abolish private property over capital goods, being thus an environmentalist version of Socialism.

Just like Socialism, such a society would end up abolishing the market price mechanism over Capital Goods, and with out a price mechanism, economic agents/central planners would be left blindfolded. With out a price mechanism, there would be no way to know the supply and demand for goods, no way to know the efficiency of production/value of certain resources over others, it would be impossible to compare factors of production and make several kinds of calculations and predictions. The Public nature of services added to absence of price mechanism would also mess up the Marginal Utility of the masses and cause Tragedies of the Commons in all types of services.

Ironically, a "Resource-Based Economy" would waste resources very often. There is no such thing as "Post-Scarcity" (or at least no such thing as Post-Scarcity in the way RBE supporters define it), and even if there was, a Resource Based Economy would not be able to achieve this.

>>3237516

Don't mind me, just being better than you and your silly LTV.

>>3237532

>He actually thinks Neoliberalism was "Liberal" at all, rather than just more Interventionist-Corporatism rebranded as being "Laissez-Faire".

>>3136591

>http://en.wikipedia.org/wiki/Economic_calculation_problem

NOPE.jpg

>>3101650
>>3101639

Sup