=================  HES POSTING ======================= 
 
[log in to unmask] wrote: 
 
> Consider statistical mechanics, the approach whereby physicists like 
> Maxwell and Bolzmann were able to predict the gas laws by analysing 
> the statistics of the motions of molecules. This is a crude and 
> over-simplified starting-point, but if you take the firm as being the 
> molecule analogue, and the techno-economic model of the firm as being 
> the analogue of the Newtonian dynamics of the gas molecule, then it 
> should be feasible to generate a valid macro-economic model by 
> considering the statistical interactions of an ensemble of firms, and 
> this model ought to generate recognisable 'gas laws', like, maybe, 
> Pareto distributions of firm size. 
>  
> There ought to emerge an entropy analogue (generalised measure of 
> disorder) and a temperature-analogue (generalised measure of 
> management knowhow, in its role as pump to keep down the rising tide 
> of entropy). 
>  
> What I would like to know from you assorted gurus is this: is there 
> anyone in the economic fraternity interested in taking up this 
> approach to macro-economic modelling, which I think is innovative, 
> and if so, please feel free to get in touch, and perhaps we can 
> exchange papers. 
>  
>  
 
>From this humble non-fraternity guru comes the following puff of mist: I 
think that the ideal place to pose your inquiry is an econometrics 
discussion group. My own response is simply that molecules cannot think, 
choose, plan, and have expectations. Thus, whatever the results of adopting 
your suggestion, they would not be applicable to interaction among 
distinctly human actors. But this is a minority position in the economics 
profession. When you change modes, perhaps you would be interested in 
Ludwig von Mises's THE ULTIMATE FOUNDATION OF ECONOMIC SCIENCE. 
 
Pat Gunning 
 
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