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Monthly Archives: July 2012
Mathematics Versus Economics – Part 2
In a previous post, I briefly outlined how the nature and use of proofs differ in mathematics and economics. In this post, I want to explore this notion further by showing how mistakes resulting from first order, simplistic, thinking, seduce … Continue reading
Posted in Mathematics, Political_Economy
Tagged austrian_school_economics, proofs
Proof of the Week for 20120730
Monotonic Sequence Convergence Theorem, Part 1: A bounded, monotonic increasing sequence is convergent. Proof: Let be a monotonic increasing sequence, . is a bounded set of real numbers , thus, via the completeness axiom of real numbers, it must have … Continue reading
Posted in Mathematics
Tagged proof_of_the_week
The Municipal Bond Fiasco – Who Are The Lenders?
Robert Wenzel of EconomicPolicy.com linked to an interesting article about an underfunded city worker pension program in Oakland, California. While there has been much about the ongoing pension problems of various municipalities, what struck me about this situation was how … Continue reading
Posted in Political_Economy
Tagged municipal_bonds
Mathematics Versus Economics
This brief post is in response to my exasperation upon reading this blog post from Mark Perry, “In a Letter to Congress, Some Economists Refute the Law of Demand and Propose a 35% Increase in the Minimum Wage to Stimulate … Continue reading
Posted in Mathematics, Political_Economy
Tagged proofs
A Scenario for Ending the War on Drugs in the US
The insanity of the official war on drugs was begun by president Nixon in 1971. Why Nixon and why 1971? The most likely answer is politics. Let us consider what was happening in the US when Nixon first used the … Continue reading
Posted in Political_Economy
Tagged prohibition, war_on_drugs
Proof of the Week for 20120723
Theorem: The roots of a polynomial of degree two or higher, with real coefficients occur in complex conjugate pairs. Proof: Let be a solution of , where , , s are real, and . Let so that . Now we … Continue reading
Posted in Mathematics
Tagged proof_of_the_week
Professor Craig Kennedy Mysteries
Craig Kennedy was a fictional professor of chemistry and amateur detective created by Arthur Reeve in 1910. Kennedy was known for using the latest scientific and technological advances to solve baffling mysteries set in New York City. He also had … Continue reading
Posted in Reading
Tagged craig_kennedy, mystery