Ergodicity economics — a history
If you’re wondering where ergodicity economics comes from, where it sits in the world of science, then this blog post if for you. I won’t go into detail about any […]
History
Economics 101: Bertrand Russell is the Pope
If we assume that a false proposition is true, we can prove anything (ex falso quodlibet). Bertrand Russell, so the story goes, once mentioned this in class. A student raised
The trouble with Bernoulli 1738
Not all academic fields have a clear starting point, a seminal paper that constitutes the foundation of the entire discipline. But economics does. The paper that defines modern formal economics
Max Planck’s scheinproblems
In June 1946 Max Planck spoke in the Göttingen physics colloquium. Planck was 88 years old, had received the highest honors of his community, including a Nobel Prize in 1918
Doing a Laplace
This is a bit of LML jargon that we felt is worth promoting, even though it’s terribly unfair to a great mathematician. So please, you admirers of Laplace, don’t take
Gas in a box or nuclear explosion?
This post is about mindset, culture, implicit assumptions. The big assumption in neoclassical economics is ergodicity, or equilibrium, or stationarity, or stability — basically the idea that nothing ever changes