Re: RE: energy entropy + capitalist crisis
Max. There s no doctrine of infinite resources for any specific resource, but since substitutes always exist there is an implict doctrine. Max Sawicky wrote: > I don't think this is true of neo-classical econ, namely > there is no doctrine of infinite resources that I recall > from the course in resources that I took. Nicholas Georgescu-Rogen was anti-marxist, but used quite a bit of Marx. His important contribution was to realize that production took place in time through using stocks. This allowed him to make strong statements about resources. He was probably the first economist to use the concepts of entropy and hysteresis. > I wonder if anyone is familiar with Nicholas Georgescu-Rogin (sp?). > He was brought to my dept to give a seminar way back in '81 or > so and seemed to have a similar take on all this, albeit at a > very high level of mathematical abstraction. He was of Romanian > extraction, I think, and flipped everyone out by talking about > constant, fixed, and variable capital. > > mbs -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Re: RE: energy entropy + capitalist crisis
Max, Undoubtedly baseball was the right choice. It was Samuelson who said something about 'the planet doesn't need resources; resources are infinite' (can't remember the exact quote, can't be bothered to look it up. He was talking about oil + substitutability at the time, the idiot). Morris Adelman, oil industry economist sans pareil, wittered on about 'oil is essentially infinite, a renewable resource' etc (can't be bothered, etc. I'm just listening to Bob Dylan: All the authorities, they stand around and boast' etc. That seems a better idea even than baseball. Next I'm gonna drink a bottle of non-renewable Gouts et Couleurs (vin de pays d'Oc. Oc as you know is a country which named itself after its favourite word, Oc, meaning Yes. This is the kind of place I want to live. The girls are great there, of course.) Georgescu-Roegen, Oc. I agree. This list should close down for a week while everyone goes away and reads him,Oc? Mark Jones http://www.egroups.com/group/CrashList - Original Message - From: "Max Sawicky" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Thursday, June 29, 2000 3:57 PM Subject: [PEN-L:20938] RE: energy entropy + capitalist crisis > Several quick comments . . . > > MJ: > . . . The argument that energy supply is 'infinite' derives from the > neo-classical economics concept of substitutability. . . . > > I don't think this is true of neo-classical econ, namely > there is no doctrine of infinite resources that I recall > from the course in resources that I took. (I was doing > well in it, until the finals, which coincided with the > baseball playoffs). There are theorems about the optimal > rate of exhaustion of (exhaustible) resources. Certainly > prices are held to inspire investment in substitutes, but > there is no guarantee that such substitutes will be found > or be feasible in the long run. There are technical and > natural limits in play. > > I suppose it is possible that in some professorial treatments, > simple optimism not unlike the sort I reflected is offered as > some kind of scientific certainty. > > I wonder if anyone is familiar with Nicholas Georgescu-Rogin (sp?). > He was brought to my dept to give a seminar way back in '81 or > so and seemed to have a similar take on all this, albeit at a > very high level of mathematical abstraction. He was of Romanian > extraction, I think, and flipped everyone out by talking about > constant, fixed, and variable capital. > > mbs > >
RE: energy entropy + capitalist crisis
Several quick comments . . . MJ: . . . The argument that energy supply is 'infinite' derives from the neo-classical economics concept of substitutability. . . . I don't think this is true of neo-classical econ, namely there is no doctrine of infinite resources that I recall from the course in resources that I took. (I was doing well in it, until the finals, which coincided with the baseball playoffs). There are theorems about the optimal rate of exhaustion of (exhaustible) resources. Certainly prices are held to inspire investment in substitutes, but there is no guarantee that such substitutes will be found or be feasible in the long run. There are technical and natural limits in play. I suppose it is possible that in some professorial treatments, simple optimism not unlike the sort I reflected is offered as some kind of scientific certainty. I wonder if anyone is familiar with Nicholas Georgescu-Rogin (sp?). He was brought to my dept to give a seminar way back in '81 or so and seemed to have a similar take on all this, albeit at a very high level of mathematical abstraction. He was of Romanian extraction, I think, and flipped everyone out by talking about constant, fixed, and variable capital. mbs
