[Quinny]

So Incorrect - do you even read the links you post - first page of your first link clearly states that there has been a lack of consideration of resource constraint in 20th century economic thinking.

Sometimes you really do seem short on sense.

$this->bbcode_second_pass_quote('Xenophobe', '')$this->bbcode_second_pass_quote('Quinny', 'I')gnoring resource constraints is a problem of all economic schools of thought. Having said that Marx did actually attempt to analyse resource constraints to it to a certain extent, something that I missed initially.

[Xenophobe]

$this->bbcode_second_pass_quote('Quinny', 'S')o what significant schools of economics were started in the last quarter of the 20th century?

[Quinny]

For starters - never heard of that?

[Xenophobe]

$this->bbcode_second_pass_quote('Quinny', 'F')or starters - never heard of that?

[Quinny]

I asked a simple question. Can't you give a simple answer?


$this->bbcode_second_pass_quote('Xenophobe', '')$this->bbcode_second_pass_quote('Quinny', 'F')or starters - never heard of that?

[Xenophobe]

$this->bbcode_second_pass_quote('Quinny', 'I') asked a simple question. Can't you give a simple answer?

[Quinny]

There's a hell of a difference between "referencing resource depletion" or "recognising resource constraints" and it being an integrated part of an economic school/doctrine whatever you call it. Anyone can "recognise them" how they should be treated from an economic POV is a much more difficult question to answer.



$this->bbcode_second_pass_quote('Xenophobe', '')$this->bbcode_second_pass_quote('Quinny', 'I') asked a simple question. Can't you give a simple answer?

[Keith_McClary]

$this->bbcode_second_pass_quote('Quinny', 'I') asked a simple question. Can't you give a simple answer?

[Xenophobe]

$this->bbcode_second_pass_quote('Quinny', 'T')here's a hell of a difference between "referencing resource depletion" or "recognising resource constraints" and it being an integrated part of an economic school/doctrine whatever you call it.

[sparky]

@ lore
"they believe that open markets have always produced solutions to problems."

Yes indeed , but they never said that the solutions were good , they are a simple reactive adjustments

the market provided solution to the post WW2 devastation in Germany ,
the price of a woman affection was a pack of cigarettes
It was an improvement on concentration camp values ,
there the price of survival was robbing some worst off of his bowl of soup

Economics can be a pretty bleak science , a nobel prize economist studied the mechanics of famine
he concluded that famine was not caused by a lack of food but by a lack of purchasing power
since he was an Hindu who had lived through the great Bengal famine , one can give him credit for realism

http://en.wikipedia.org/wiki/Amartya_Sen

Mao tse tung said ( little red book page 25 )
" those who read the links will get wise , those who don't just like to heard themselves speak "

[Keith_McClary]

$this->bbcode_second_pass_quote('sparky', 'E')conomics can be a pretty bleak science

[sparky]

.
an economist joke
Economist are the guys who like Jessica Alba for her money

It's as much a science as psychology or meteorology

[Pops]

$this->bbcode_second_pass_quote('sparky', 'Y')es indeed , but they never said that the solutions were good...

[dissident]

I am personally hung up by the fact that a lot of economists (that have a media presence) are essentially resource constraint denialists. People talk about solutions, but the existence of the problem is being attacked by what amounts to a propaganda campaign where economists and other sorts of pundits are the foot soldiers. It is hard to get the masses to change their behaviour when there is an overwhelming media-created consensus to maintain the status quo.

It is clear that "peak oilers" are not the zealots defending a faith. The zealots are many economists who produce truly inane drivel to smear any that would question the BAU dogma. For example Prof. Mark J. Perry's pearl of wisdom

[sparky]

.
It's a common problem with any group
I was hunting once with others , there was a large pack of dogs baying like mad
an old guy told me they were useless , following each others tails and making a loud racket
on the side there was this lone one which was following his nose , he got the right track

There is always a large majority who upheld a convenient mainstream ,
they get juicy scraps throw at them for their conformity to "consensus "
then there is free spirits who keep their brains still working post graduation
they often enough are mad or right .

[shortonoil]

Keith McClary quotes:

$this->bbcode_second_pass_quote('', 'A') lot of peak oil analysis leaves economists cold. After all, production levels are in part a result of production choices, and in markets production is driven in part by costs and prices. The popular Hubbert’s Curve approach to modeling peak oil ignores all of this. Here is a quote from a recent analysis by James L. Smith:

$this->bbcode_second_pass_quote('', '[')Hubbert's model] is problematic for economists since the volume (and timing) of ultimate recovery presumably depends upon price — which in turn depends upon demand, interest rates, and the cost of production — none of which are incorporated here. There is no assurance in Hubbert’s model that the projected rates of future production will actually clear the market. Although the prediction is simple, it is not credible due to neglect of these fundamental economic factors.