Sunday , March 29 2020
Home / EconoSpeak / Standing on the shoulders of cranks

Standing on the shoulders of cranks

Summary:
I use the term "crank" affectionately. The figure below is a valiant effort by Arthur O. Dahlberg to depict the "socio-economic process" as a network of troughs, pipes and valves. Even this elaborate contraption is confined to "the movement of the major social variables." Dahlberg believed that his chart technique communicated his analysis more effectively than words could. What the chart communicates to me, besides Dahlberg's intense commitment is "it's complicated" and "everything is connected to everything else." That's not nothing.

Topics:
Sandwichman considers the following as important:

This could be interesting, too:

Mike Norman writes Links — 28 Mar 2020

Mike Norman writes Congress Goes Big, States Play a Vital Part in Recovery, and a Dollar Crunch Takes Hold — Carl R. Tannenbaum, Ryan James Boyle, Vaibhav Tandon

Mike Norman writes The helicopters are coming — Willem H. Buiter

Mike Norman writes Stephanie Kelton — Ben Walsh

I use the term "crank" affectionately. The figure below is a valiant effort by Arthur O. Dahlberg to depict the "socio-economic process" as a network of troughs, pipes and valves. Even this elaborate contraption is confined to "the movement of the major social variables."

Dahlberg believed that his chart technique communicated his analysis more effectively than words could. What the chart communicates to me, besides Dahlberg's intense commitment is "it's complicated" and "everything is connected to everything else." That's not nothing.

Standing on the shoulders of cranks

Leave a Reply

Your email address will not be published. Required fields are marked *