The Chimera of Macroeconomics

  <Problems and Applications>          *Note: “T” for time period, “L” for length, “M” for mass and “U” for value of utility                          There are indefinitely many scales per T, L, L 2 , L 3 , M or U.                  1.      The time taken in the 100m dash: T= L/ (L ∙ T -1 ) - El Condor: 8 milli-sec = 100m/ (12.5m/ milli-sec) - The winner: 8 sec = 100m/ (12.5m/ sec) - The laggard: 8 min= 100m/ 12.5m/ min) - The Snail: 8 hours= 100m (12.5m/ hour) *Notwithstanding the Solow model, n o “marathoner” has ever won in a public event of 100m dash .      2.      The travel distance of the sunlight: L= T ∙ (L ∙ T -1 ) - In two seconds: 600,000 km= 2 sec ∙ (300,000 km/ ...

  Differently from algebra in general, dimension algebra is mostly of multiplication and division; the latter for the purpose of performance accounting. Additions when applicable do not add up, which is not much meaningful anyway.   Dimension Denotation In physical sciences: “T” for time period, “L” for length in space and “M” for mass Additionally in economy: “U” for value of utility ① Homogeneity “T” and “L” homogeneous; “M” heterogeneous “U” heterogeneous in private, yet homogenous in public             T+ T= T             Line: L+ L= L . area: L 2 + L 2 = L 2 , volume: L 3 + L 3 = L 3             M: un-addible but in legal tender; U∙m + U∙m = U∙m   Dimensions of Key Terms             Utility, benefit, cost, worth and price: M...

  There are two factions of Three R’s , conservative and progressive: the former are Reading, Writing and Arithmetic; the latter Recycle, Reuse and Reduce. We call as Algebra the plain or plane (L 2 ) extension of Arithmetic of the former .    .                 In measurement of performance to be accounted for, we need before anything else a clearly defined metric of dimensions and scales. Virtually no one, a macroeconomist or otherwise, has difficulty recognizing such different scales, for instance, of length (L in dimension): millimeter, meter, inch, yard, mile, and all the way to light-year . Unfortunately, we except for physical scientists have difficulty figuring out the dimensions and as a result conveniently choose to neglect them.             Traditionally, we have three dimensions, viz., space, time (T for time duration) and mass (“M”...