Economic Paradox

HAVE WE BEEN HERE BEFORE?



 

Economic Paradox

History does not repeat itself, but does?

Musings of history, logic, mathematics and such

In actuality, it is impossible for history to repeat itself, although predominant attributes may give it an appearance of such.

So accepting this as a truth, suggests that we are looking to identify similar historical circumstances to determine what devices were applied to remedy the concerns of the time. However both the algebra of the historical circumstances and devices to be applied would never completely match those of the current situation. Moreover, the algebraic relationship that exists between the circumstances and devices to be applied are rarely the same.

As the mathematics is elusive or indefinable, then a great deal of judgement enters into the process of analysing, evaluating and acting upon the current state of affairs. Judgement is thus required, as to the historic and present nature of the functions and weights of all factors; within the presiding algebras.

As a result, the indefinable mathematics encourages infinite debates, discussions and arguments that are often won by persuasive powers that transform it into an absolute truth. Yet, by the time the decreed truth is held as universal for the circumstances, all factors within the algebras have changed.

Then so again, history repeats itself.

T A McNeil

First Financial Insights Inc.

Toronto, ON

@FirstFinInsight

Now I am Confused