Julio Huato wrote:
Michael Perelman wrote:
Mirowski is saying something else, which is important. Economists pretended
that
they were emulating physics. But they could not because there is no limiting
function to their Langrangians -- no conservation of energy or matter.
What are resource and technology constraints then?
Right. And moreover, in what context do you need conservation of energy
or matter?
In a long run growth model, I suppose you need to consider exhaustible
resources and
the ability to replace them, the carrying capacity of the planet, but
where else?
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