Tuesday, September 5, 2017

A free version of the book



There was a great quote that I don't remember exactly about the Velvet Underground's first album. Paraphrasing, it said that very few people bought it, but everyone who did went on to start a band (looking it up, there are couple of versions). My greatest hope for my book would be something similar: only selling a few copies, but everyone who buys it goes on to help reform economic theory. The blueberry on the cover of my book is actually a reference to the album. It's definitely a bit of arrogance (hubris?) on my part.

Anyway, I think the ideas are more important than selling books so this represents something of a "free version" assembled from blog posts. It's really incomplete and the technical level varies wildly (however, nearly all are far more technical than the book). If these blog posts go over your head but seem interesting, then the book is for you!

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Introduction

This semi-autobiographical chapter was largely written from scratch and represents a lot of new material. However, some of the basics are covered in a few posts:

https://informationtransfereconomics.blogspot.com/2015/05/about-me.html
https://informationtransfereconomics.blogspot.com/2015/01/is-market-intelligent.html
https://informationtransfereconomics.blogspot.com/2015/10/corporate-prediction-markets-aggregate.html

The critique

I actually excerpted an early version of this chapter after I wrote the first draft:

https://informationtransfereconomics.blogspot.com/2016/09/a-random-physicist-takes-on-economics.html

Physicists

Another chapter that is largely new, but the basic idea was captured in my post on Paul Romer and "mathiness":

https://informationtransfereconomics.blogspot.com/2015/05/the-irony-of-paul-romers-mathiness.html

Random people

The title was a reference to Pulp's Common People, but is probably totally lost on anyone else due to being way too subtle. Yet another chapter that is largely new. However, it can be considered an expansion on this post:

https://informationtransfereconomics.blogspot.com/2015/11/monkeys-and-markets.html

Another dimension

The chapter title is a reference to the Beastie Boys' Intergalactic. Part of this chapter is new, most of the main idea is presented here:

https://informationtransfereconomics.blogspot.com/2015/09/the-emergent-representative-agent-1.html

Advantage: E. coli

The title here is a weird reference to tennis, comparative advantage, and the idea that E. coli bacteria are better at trading than humans. This is a more technical version of the chapter that appears in my book:

https://informationtransfereconomics.blogspot.com/2015/08/obviously-e-coli-is-rational-utility.html
https://informationtransfereconomics.blogspot.com/2016/04/comparative-advantage-from-maximum.html

Great expectations

An obvious reference to Dickens, this is a far more technical version than appears in the book:

https://informationtransfereconomics.blogspot.com/2016/04/neo-fisherism-and-causality.html

Rigid like elastic

Title reference is supposed to look like a paradox, but then is explained: nominal rigidity is an entropic force like elasticity. This was completely re-written for a general audience. These posts are more technical versions:

https://informationtransfereconomics.blogspot.com/2014/10/wage-stickiness-is-entropic-force.html
https://informationtransfereconomics.blogspot.com/2015/03/nominal-rigidity-is-entropic-force.html

[There are actually several posts "X is an entropic force" on my blog. These are the most relevant two.]

SMDH

SMD theorem + H. This chapter's main premise is captured in this post, but it misses out on the blueberry pie metaphor of the SMD theorem that I'm particularly proud of:

https://informationtransfereconomics.blogspot.com/2015/10/the-smd-theorem-and-oh-no-not-another.html

The economic problem

This was the very terse starting point for this chapter:

https://informationtransfereconomics.blogspot.com/2015/03/the-price-system-as-communication.html

Economics versus sociology

This is another example where a post was greatly expanded:

https://informationtransfereconomics.blogspot.com/2015/10/economics-as-and-versus-social-science.html

Are we not agents?

The title is a reference to Devo's first album. I discovered a paper while the book was being written, and so this chapter was added based on it:

https://informationtransfereconomics.blogspot.com/2016/09/causal-entropic-forces-as-economic.html

Conclusions

Another chapter that is largely new in the book. One of the ideas I talk about was first presented here:

https://informationtransfereconomics.blogspot.com/2015/04/thinking-positive-is-thinking-different.html

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But here's the whole thing in convenient Kindle form (and with less math):


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