Procrustean Art of Backtracking: “Dimensions in Economics”
The most basic dimension on earth (L 3 ) is the period of time (T) because the time duration in Here is limited for each and every creature, as opposed to in Eternity across the River (L -1 ) where the time stops lapsing (T 0 ). The second most critical dimension in Economics is the currency unit defined by the Sovereignty as metric across the commonwealth for the value of utilities (U) of all types and kinds. The sources of utilities are not limited to the apple, the orange, the housing, taking a nap, playing with grandchildren and “leisure,” but way beyond our imagination. Please do not account for anything in terms of mass (“M”) only, be it called “real quantity.” After all, “real” in macroeconomics may in reality mean “surreal,” if not “nominal.” As Adam Smith pinpoints, “It’s the consumption utility!” ...