Sunday, March 24, 2013

meta static stablity or dynamic channel

existence uniqueness  efficiency

these preoccupations of market ideologians occured in reverse order


efficiency is an obvious criterion

uniqueness sugests best of all possible

existence well you do have to prove it exists

the progress toward these proofs
came at ever greater sacrifice

arrow debreu got existence by removing convexity and price setting
 and adding an infinite horizon of markets
plus no innovation or actual production or consumption...

leaping however from existence to uniqueness
that really got no where

and parallel work on efficiency

simply compounded the limitations from the other two projects

this is unsatisfactory
i'll get back to this