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To: RightWhale
Can't we have even just a couple of simultaneous differential or integral equations?

Ricardo's economic logic is essentially a precursor to optimization theories such as linear programming and the simplex method.

Don't be misled by his use of nations in his examples. David Ricardo was basicly an investment banker/stock broker who had little concern for what benefited either nation. His theory can be summarized as: "Maximize profits (the objective function) by minimizing inputs (the constraints -- labor, capital, etc.)" He did so by pitting one nation against each other to drive all inputs down to the commodity level.

It's a great theory for corporations engaged in transnational trade.
But that doesn't make it the best policy for a nation to pursue for the benefit of it's own citizenry. Actually, it's quite a darwinian abomination.

221 posted on 03/22/2004 4:35:00 PM PST by Willie Green (Go Pat Go!!!)
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To: Willie Green
optimization theories such as linear programming and the simplex method.

That's what it looks like. A command economy might like it; something like that worked so well for the USSR.

225 posted on 03/22/2004 4:51:11 PM PST by RightWhale (Theorems link concepts; proofs establish links)
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To: Willie Green
Actually, it's quite a darwinian abomination

Ah, yes. Good insight.

We are PROGRESSING, Willie!!

Get rid of all those labor-type leeches who merely suck the Capital dry!!!

251 posted on 03/23/2004 5:19:56 AM PST by ninenot (Minister of Membership, TomasTorquemadaGentlemen'sClub)
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