Eric Weinstein

@EricRWeinstein ↗

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Last Checked Nov. 23, 2022

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Sun Nov 06 16:05:39 +0000 2022

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Eric Weinstein @EricRWeinstein

Q3: Why is inflation a field on Path Spaces of Looped Preferences/Prices? A3: Loosely, Index number theory really died w/ work of Ragnar Frisch (rightly) destroying Irving Fischer’s misguided work on axiomatic tests for bilateral (2 period) mechanical index numbers. Here’s why. — PolitiTweet.org

Posted Nov. 6, 2022

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Eric Weinstein @EricRWeinstein

A2 Continued: If you don’t make loops of tastes and prices, you will show meaningless regular inflation if prices, quantities and tastes Circle back to their initial Jan 1 values. This confuses economic experts (Like Diewert) when it comes to chain/path indices…which is up next. — PolitiTweet.org

Posted Nov. 6, 2022

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Eric Weinstein @EricRWeinstein

A3 Cont.: As Ken Arrow challenged us “Frisch showed we can’t solve the bilateral index problem because a single agent at multiple points in time is *exactly* dual to multiple agents at a single instant of time. Which is exactly my ‘Impossibility Theorem’ in Social Choice. QED.” — PolitiTweet.org

Posted Nov. 6, 2022