The Chimera of Macroeconomics

  There is existence (1) and inexistence (0). As opposed to the latter, the former always and everywhere has two hands. A line (L 1 in dimension) has two ends, an area (L 2 ) two opposing lines and a space (L 3 ) two opposite sides. There in the nature are masses of all different types, kinds and sorts. The mass has a mass (M) and occupies a space (L 3 ). Masses physically and chemically  interact   among themselves on the basis of physical and chemical forces . Apparently there are pros (+) and cons (-) particularly in between two masses: some two-some’s are inter-attractive and others are inter-rejecting.   Effectiveness vs efficiency . In life of us as human, we have so many fields of judgement after imaginary, nominal and virtual thinking on one side and actual, practical and real measurement on the other. Afterwards, we classify matters into two categories in one way or another: for instance, good or bad ( 好 恶 , hàowù ), right or wrong ( 正 误 , zhèngwù ), vi...

  One of the reasons for the macroscopic blunder of macroeconomics is richness in misnomers and misconceptions. As a natural consequence, many models are stillborn. The IS-LM is one   and the AS-AD another.              The one out of so many misnomers is “stock variable.” To be true, the “stock” is the quantity as of a certain moment and by definition cannot “vary.” Basically, macroeconomists take mathematical variations without the time dimension (T 0 , or as at the moment) for economic changes over time (T -1 , or per period). For them, time flied across space (L -1 but T 0 ) in the first place.              “Money supply” and “money demand” are two others. To be true, money is to the market what time is to life. Both time and money as currencies are beyond our control and anything but demanded; for instance, time is to Robinson Crusoe what “money” i...

  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!”  ...

  A Joke of Everyone’s Favorite: Dependent on the answer, we can tell you who you are; What is the answer to 1+1 , the easiest arithmetic on earth? 1)      2, period : A schoolchild. 2)      Please Do Not Kid Me : A driver of the Mini 3)      2? : A neurotic, who knows he must say “2” but is in person not really sure why. 4)      5, period : A psychotic   5)      Wishfully 1 : A wedding master 6)      Possibly 1 : A chemist 7)      Possibly anything : A physicist 8)      Explosion or implosion : A nuclear physicist 9)      11 with no question asked : A computer scientist 10) Probably 11 : A “supplier to the market” of the chopstick 11) King sidelined : A Chinese ( 王 , the king) 12) …. 13) > 2 : A synergist to whom, “The total is bigger than the sum of its parts” ...

  Suppose Mom ready for the weekly grocery shopping. Setting off, she has the “Irish potato” among other products in mind.             Question: No. 1. Would she purchase potatoes in a “fixed quantity,” no matter what? ② How close a substitute is “Irish meat” to the potato? ③ How many “substitutes” are there in the market, for that matter? ④ How often does she measure the utility value of potatoes in the quantity of “meat” or any other product? ⑤ Does she have loyalty to any of the sellers in town?             The respective answer in order: ① No, not quite. It depends; ② Very remote if ever; ③ Definitely indefinite; ④ Never, if ever; ⑤ Usually not, but we don’t know for sure about her whim. No matter which, “unsure” is everywhere identical to a “no” if in a theoretical proposition.                Now we ch...