Friday, June 20, 2014

A New Route

I have not been able to write that much on this blog for the past two years, but in the foreseeable future I'll have more time to develop a few areas of thought.  I originally intended this site to be experimental and then changed it into a cultural/educational approach.  Although I enjoyed these topics they can be developed only on a rare occasion, as with the experimental, or require timely execution, as with the cultural/educational approach.  Nonetheless, the topics that invoke the greatest interest in me are the philosophy questions that deal with the foundations of economics and property.  I wrote something earlier about changing the focus of this site, but even that now needs updating.  This site will investigate three areas:

  •  Property Theory

In this area, I will not be breaking new grounds, as there are volumes of work out there on this topic.  However, the topic is highly neglected among current philosophers.  For example, I find that current deontological and consequentialist ethical systems fail to recognize assumptions regarding property.  I argue that ethical dispositions can only be resolved if property presumptions are taken into account.

  • Epistemological Foundations of Economics and Finance

I may have goals here that I'll have to explain later.  Nevertheless, I have been influenced by Charles S. Peirce (1839 - 1914) into reconciling abductive/hypothetical forms of knowledge regarding human nature from behavioral economics, cognitive science, and neuroscience with deductive economic relationships and inductive relationships of financial theory.  The controversy here derives from lopsided understandings of practitioners and system-builders alike.  Typically, they fail to understand one of the areas and thus have a negative bias towards one of the types of argument, or they fail to recognize the overlapping of arguments in terms of knowledge.  System-builders may confirm only areas of knowledge that promote their system, etc...

Analytic tendencies in economics, called extreme aprioirism, have avocated that economists can only state modus ponens that price floors cause a good to be unavailable or not sold below a particular price. For example, we can't say minimum wage (a price floor) causes unemployment, but we can say that minimum wage causes those employed (or will be employed) to be unemployed (with a strict meaning of employed => a single good).  On the other hand, since the same data that exhibits aprioistsic or economic relationships is part of a composition, we can say how much or to what degree a price floor causes a good to be unavailable while preserving truth relations with fuzzy set-theoretics.  I believe Lugwig von Mises speculated about this. He mourned that statistics was inadequate for this, although he acknowledge statistics as being appropriate for time-series of prices, which exhibits class-relations [set theory/number theory terminology], as well as probability theory (his brother Richard von Mises was influential in creating the frequentist (also called class-probability by Ludwig von Mises) school of thought of probability theory, which is the standard today).  I foresee fuzzy set-theoretics increasing the precision of descriptive knowledge about economics events in the same way the risk theory, which is built on statistical relationship, has expanded in precision.  In addition, I like to pursue possibly theory, game theory and what I would call a turn from an analytic blockhead mentality towards a fuzzy, synthetic or stochastic mentality in economics and finance.

  • Property-base Ethical Justification

On this topic, I will argue that property-based ethical systems are stronger than competing non-property-based systems.  Ignoring some limited distributional theories (the more extreme versions no longer being taken seriously), advocates of non-property-based systems have acknowledged (at least rhetorically) that property-based systems, although they may have a better foundation, do not explain how their theory would work. An explanation can be found in property relevant presuppositions, Adam Smith's invisible hand, Ludwig von Mises' Social Co-operation, and some supplemental relationships based on spacial/geographical distance, production and supply of goods with David Ricardo's comparative advantage.  Human nature will be a topic of concern here, since human behavior is relevant to the question of how property-based ethical systems provide social order.  If a property-based ethical system can demonstrate this, then I suggest it could pull the rug from under competing systems.

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