Economic Black Magic
Once upon a time I studied mathematics. I didn't know what I wanted to do with my life when I entered college (for the first time) so I decided to study a subject I had shown the most ability in.
When I later returned to college at the age of 23 I did not continue in my studies of mathematics as I found that I know longer remembered anything about calculus or linear algebra. The idea of trying to relearn all of that material in a short period of time while studying such advanced topics as differential equations and abstract algebra was just to daunting. I decided it would be easier and more practical to study English literature and Journalism. (Dropped journalism fairly quickly as the entire style of writing was almost painful to me).
As a student of the language I came to understand that mathematics is just a very precise language. It's symbols and formulas are sentences. Every proof is an essay. We use math to breakdown enormous concepts into workable, understandable concepts.
Economics is another monster altogether. We use numbers and formulas to obfuscate reality, to turn a loss into value, to create value out of nothing. When somebody gets on the television and starts predicting how the market will react I get a very strong feeling that the entire show would look more natural if some sort of animal sacrifice was taking place at the same time, or at the very least a crystal ball or tea leaves ought to be on hand.
Then there is the wonderful way the market reacts to events in the world. Layoffs are announced and the numbers go up. Factories are closed and the market is happy. Natural disasters occur and stocks fly. College kids get further into debt and credit card stocks soar. The President announces that Bernanke will replace Alan Greenspan as the head of the Federal Reserve and the market has a minor orgasm.
So why are these traders so happy with the new man? Could it be a clear sign that the business of multinational corporations will continue to be the primary concern of the Federal Reserve? Am I being too cynical? I think not. Today we see four giants of telecommunications on the doorstep of becoming two. The Godzilla Interface cannot be far off.
So close to Halloween, it is almost suitable to discuss this dark magic done in smokey rooms. Instead I wish everyone a wonderful holiday and much chocolate. (If you get any dark chocolate and don't want it, I know a guy who does). Next month I begin to get into my full anti hyper consumerism rants just in time for buy nothing day. My rants will come in direct proportion to the number of Christmas commercials I see. So far no one is telling me I'm a sleezebag for failing to shop for the perfect present for my loved ones, so we are cool. (This wont last).
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When I later returned to college at the age of 23 I did not continue in my studies of mathematics as I found that I know longer remembered anything about calculus or linear algebra. The idea of trying to relearn all of that material in a short period of time while studying such advanced topics as differential equations and abstract algebra was just to daunting. I decided it would be easier and more practical to study English literature and Journalism. (Dropped journalism fairly quickly as the entire style of writing was almost painful to me).
As a student of the language I came to understand that mathematics is just a very precise language. It's symbols and formulas are sentences. Every proof is an essay. We use math to breakdown enormous concepts into workable, understandable concepts.
Economics is another monster altogether. We use numbers and formulas to obfuscate reality, to turn a loss into value, to create value out of nothing. When somebody gets on the television and starts predicting how the market will react I get a very strong feeling that the entire show would look more natural if some sort of animal sacrifice was taking place at the same time, or at the very least a crystal ball or tea leaves ought to be on hand.
Then there is the wonderful way the market reacts to events in the world. Layoffs are announced and the numbers go up. Factories are closed and the market is happy. Natural disasters occur and stocks fly. College kids get further into debt and credit card stocks soar. The President announces that Bernanke will replace Alan Greenspan as the head of the Federal Reserve and the market has a minor orgasm.
So why are these traders so happy with the new man? Could it be a clear sign that the business of multinational corporations will continue to be the primary concern of the Federal Reserve? Am I being too cynical? I think not. Today we see four giants of telecommunications on the doorstep of becoming two. The Godzilla Interface cannot be far off.
So close to Halloween, it is almost suitable to discuss this dark magic done in smokey rooms. Instead I wish everyone a wonderful holiday and much chocolate. (If you get any dark chocolate and don't want it, I know a guy who does). Next month I begin to get into my full anti hyper consumerism rants just in time for buy nothing day. My rants will come in direct proportion to the number of Christmas commercials I see. So far no one is telling me I'm a sleezebag for failing to shop for the perfect present for my loved ones, so we are cool. (This wont last).
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posted by Rich Rosenthal II at 12:49 AM
4 Comments:
Sometimes math causes me brain freezes. I lose all ability to function and i begin to drool. It isn't good.
I shall join you in anti-shopping.
I can't believe that it's still impossible to buy a whole bag of nothing but Hershey's Special Dark. Too bad.
You know I read over this post and I have to say that I tried to do to much in a hurry and it came off badly. To do it justice it really ought to have been at least three times as long and there are a bunch of ideas I left out.
Also I'm woefully ignorant of economics. Every time I make a critique I feel like I'm just paroting ideology I've read in a book instead of making an informed argument.
This is one of those posts that is the kernel of an idea that, with development could be turned into a decent essay, but on its own, fails to do what I wanted it to do.
Oh and Diva they make dark chocolate hershies kisses.
math has always been that way for me. I finally grasp a concept and as soon as I move on I forget the foundation to base it all upon and have to re-learn it all over again. I think its just not for me.
I am studying economics for the first time and while I understand the textbook side of it, I am struggling due to my avoidance of all things political.
I havent read a newspaper or paid attention to current events in well over 5 years making it nearly impossible to partake in any class discussion.
sometimes I wonder if I should have majored in art..
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