Lars P. Syll

What is a good model? Whereas increasing the difference between a model and its target system may have the advantage that the model becomes easier to study, studying a model is ultimately aimed at learning something about the target system. Therefore, additional approximations come with the cost of making the correspondence between model and target system less straight- forward. Ultimately, this makes the interpretation of results on the model in terms of...

Stjärnorna kvittar det lika .[embedded content] Till minnet av Bengt Nilsson. En vän av den sort som Gud inte gjorde någon kopia av — och som glömskan aldrig kommer att rå på.

MMT — the key insights As has become abundantly clear during the last couple of years, it is obvious that most mainstream economists seem to think that Modern Monetary Theory is something new that some wild heterodox economic cranks have come up with. That is actually very telling about the total lack of knowledge of their own discipline’s history these modern mainstream guys like Summers, Rogoff and Krugman have. New? Cranks? Reading one of the founders of...

The day we will never forget Les sanglots longsDes violonsDe l’automneBlessent mon coeurD’une langueurMonotone. [embedded content]

The greatest of them all [embedded content]

The Beta distribution (student stuff) .[embedded content] Added: And here’s a little Python code yours truly has put together so you can play around and plot Beta distributions: import numpy as np import matplotlib.pyplot as plt from scipy.stats import beta # Given data total_flips = 100 observed_heads = 60 observed_tails = 40 # Adjusted to match 100 flips # Calculating the probability of heads and tails prob_heads = observed_heads / total_flips...

In modern times legal currencies are totally based on fiat. Currencies no longer have intrinsic value (such as gold and silver). What gives them value is basically the simple fact that you have to pay your taxes with them. That also enables governments to run a kind of monopoly business where they never can run out of money. A fortiori, spending becomes the prime mover, and taxing and borrowing are degraded to following acts. If we have a depression, the solution, then, is not...

Why economics is such an impossible science In a word, Economics is an Impossible Science because by its own definition the determining conditions of the economy are not economic: they are “exogenous.” Supposedly a science of things, it is by definition without substance, being rather a mode of behavior: the application of scarce means to alternative ends so as to achieve the greatest possible satisfaction—neither means, ends, nor satisfaction substantially...

Normative multiculturalism and the paradox of tolerance Culture, identity, ethnicity, gender, and religiosity should never be accepted as a basis for intolerance in political and civic aspects. In a modern democratic society, people belonging to these different groups must be able to rely on society to protect them against the abuses of intolerance. All citizens must have the freedom and right to question and leave their own group. Against those who do not...

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