Economics story: To be continued

[From Rick Marken (2009.09.16.2315)]

Awesome. Thank you for sharing Rick. I look forward to your next episode!

Thanks, Shannon. I was starting the next episode but then I went to
play racquetball and managed to throw myself headfirst into the wall
to get a ball; I missed the ball but hit my face square above the eye,
opening a nice gash. I just got back from getting 10 stitches (I'm
with Kaiser, which is basically the same as the British system, and
everything went smoothly and they didn't ask me to take a second on
the house before giving me treatment). But I'll try to have the next
episode ready for you tomorrow.

Best

Rick (Frankenstein's Monster Double) Marken

···

On Tue, Sep 15, 2009 at 7:44 PM, Shannon Williams <verbingle@gmail.com> wrote:
--
Richard S. Marken PhD
rsmarken@gmail.com
www.mindreadings.com

LOL! Hope you are feeling better!

···

On Thu, Sep 17, 2009 at 1:15 AM, Richard Marken <rsmarken@gmail.com> wrote:

[From Rick Marken (2009.09.16.2315)]

On Tue, Sep 15, 2009 at 7:44 PM, Shannon Williams <verbingle@gmail.com> wrote:

Awesome. �Thank you for sharing Rick. �I look forward to your next episode!

Thanks, Shannon. I was starting the next episode but then I went to
play racquetball and managed to throw myself headfirst into the wall
to get a ball; I missed the ball but hit my face square above the eye,
opening a nice gash. I just got back from getting 10 stitches (I'm
with Kaiser, which is basically the same as the British system, and
everything went smoothly and they didn't ask me to take a second on
the house before giving me treatment). But I'll try to have the next
episode ready for you tomorrow.

Best

Rick (Frankenstein's Monster Double) Marken
--
Richard S. Marken PhD
rsmarken@gmail.com
www.mindreadings.com

[From Bill Powers (2009.09.19.1308 MDT)]

Rick Marken (2009.09.16.2315) --

As an adjunct to your economic series, I offer the attached diagram as a starter model. It's in a somewhat different form from the one in Econ005, and lacks a lot of cross-connections and other details, but I think it shows some of the basic control loops that are involved. Given these interacting control systems all operating at the same time, is there anyone here who can see what the consequences will be of setting values of wages, prices, productivity, and the various reference signals? I think we need a working model to do that.

I'm asking this because I have belatedly realized that Econ005, my own old model, doesn't behave correctly. Raising the wage-earner's use-rate of goods causes a rise in prices, which is opposite to what I am told, and probably believe, actually happens. I think the four control systems and their external connections in this attachment are labeled correctly as far as they go, but suggestions are welcome.

Best,

Bill P.

[From Rick Marken (2009.09.19.1345)]

[From Bill Powers (2009.09.19.1308 MDT)]

Rick Marken (2009.09.16.2315) –

As an adjunct to your economic series, I offer the attached diagram as a starter model.

I can wait to see it!! But you forgot to attach it. I was going to work on one myself this afternoon but maybe we can work on this together.

Best

Rick

···


Richard S. Marken PhD
rsmarken@gmail.com
www.mindreadings.com

[From Bill Powers (2009.09.19.1308 MDT)]

resending with attachment

Rick Marken (2009.09.16.2315) --

As an adjunct to your economic series, I offer the attached diagram
as a starter model. It's in a somewhat different form from the one in
Econ005, and lacks a lot of cross-connections and other details, but
I think it shows some of the basic control loops that are involved.
Given these interacting control systems all operating at the same
time, is there anyone here who can see what the consequences will be
of setting values of wages, prices, productivity, and the various
reference signals? I think we need a working model to do that.

I'm asking this because I have belatedly realized that Econ005, my
own old model, doesn't behave correctly. Raising the wage-earner's
use-rate of goods causes a rise in prices, which is opposite to what
I am told, and probably believe, actually happens. I think the four
control systems and their external connections in this attachment are
labeled correctly as far as they go, but suggestions are welcome.

Best,

Bill P.

ProdCons.bmp (1.89 MB)

[From Rick Marken (2009.09.19.1530)]

Rick Marken (2009.09.19.1345)]

Bill Powers (2009.09.19.1308 MDT)

Rick Marken (2009.09.16.2315) –

As an adjunct to your economic series, I offer the attached diagram as a starter model.

I can wait to see it!!

Oops. Just re-read this. Of course I meant I CAN’T wait to see it!

···


Richard S. Marken PhD
rsmarken@gmail.com
www.mindreadings.com

[From Rick Marken (2009.09.19.1805)]

[From Bill Powers (2009.09.19.1308 MDT)]

resending with attachment

Thanks, Bill. This look like a very good start. I’ll get back to you on this ASAP.

Best

Rick

···

On Sat, Sep 19, 2009 at 1:55 PM, Bill Powers powers_w@frontier.net wrote:

Rick Marken (2009.09.16.2315) –

As an adjunct to your economic series, I offer the attached diagram as a starter model. It’s in a somewhat different form from the one in Econ005, and lacks a lot of cross-connections and other details, but I think it shows some of the basic control loops that are involved. Given these interacting control systems all operating at the same time, is there anyone here who can see what the consequences will be of setting values of wages, prices, productivity, and the various reference signals? I think we need a working model to do that.

I’m asking this because I have belatedly realized that Econ005, my own old model, doesn’t behave correctly. Raising the wage-earner’s use-rate of goods causes a rise in prices, which is opposite to what I am told, and probably believe, actually happens. I think the four control systems and their external connections in this attachment are labeled correctly as far as they go, but suggestions are welcome.

Best,

Bill P.


Richard S. Marken PhD
rsmarken@gmail.com
www.mindreadings.com