Essays and Observation - The Vulgar Economist

I just came across this excellent summary of the DLMA framework by Managing Director of Better Boards Australasia, Raph Goldworthy.

“he DID say anus?”

If there’s a reality that defies economic sense it’s this: if profits are soaring, stock markets are hitting records and global GDP has doubled in the last two decades why is it that social welfare and genuine sustainability, when measured by the accessib…

As markets approach what I have described as a market crisis, the scenario in which the forces of supply and demand not only fail to reproduce the conditions necessary for human existence, but actively undermine them, the following quote is worth repeatin…

In 2001 Professor George Ackerlof received a Nobel Prize in Economic Science for “The Market for Lemons,” in which he explores asymmetric information.

2026 marks the 250th anniversary of The Wealth of Nations and Adam Smith’s water-diamond paradox.

In this myth of a Greek myth, Hermes, the mischievous god of finance, fates a herd of horses to value the frass of the dung beetle as highly as the beetle values the dung of the horse.

A director wouldn’t describe leading as managing.

Conceived in 2012, my first 2x2 matrix was designed to visualise the work of any board and management team based on two opposing decision criteria - value creation and value protection.

Mademoiselle X was dead, or so she thought.

Elon Musk is obsessed with the Kardashev Scale.

When it comes to usefulness, economics has a supply problem.

“the problem of value must always hold the pivotal position, as the chief tool of analysis in any pure theory that works with a rational schema” Schumpeter When theory of value, understood in terms of exchange, was first conceived the planet was degrees c…

In this part, with the help of Thanos, the evil villain of the Marvel universe, I consider the opposite of value in use - counter-value.

In this part of the series, I want to return to the concept of the prime mover or principia media introduced in part 10.

There are only two dimensions to my matrix- value and control.

In 1944, Erwin Schrödinger, the founders of quantum mechanics famously said “life feeds on negative entropy”.

So far I have connected the concept of change to energy in it’s social form - value in use, recognized that potential value in use is stored in various forms of capital and described how capitals are transformed to animate open social systems such as corp…

The systems symbol So far in the Millennia Challenge Series the focus has been on the foundational concepts of value in use, the capitals and the ways in which capitals are transformed to generate more or less value in use.

I use the Greek letter Phi ( Φ) to represent the idea of value in use.