On 2/14/11 8:14 AM February 14, 2011, Anand Manikutty wrote:
I see. So you don't know what elasticity of substitution is. Well
then, we have a bigger problem than you not following this particular
argument.
The issue : there is a structure to the arguments here that you are
not following, and I could see that you weren't seeing it from the
beginning.
The concern : the elasticity of substitution is a rather precise
concept and until one understands the calculus and the mathematical
derivation of this concept, there is no point in proceeding further.
~
http://en.wikipedia.org/wiki/Elasticity_of_substitution
It's a pretty basic concept, actually, straight out of Economics 2. How
easy/useful is it to substitute one input for another in production? It
would take about 2 minutes to explain this concept to another person,
and even less to point them to a site where they could read about it.
The technological singularity seems like pure science fiction to me,
with a lot of wishful thinking standing in for evidence.
--
Heather Madrone ([email protected]) http://www.madrone.com
http://www.sunsplinter.blogspot.com
I'd love to change the world, but they won't give me access to the source code.
