320 Years of History
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- #61
Unless you work in or otherwise are heavily invested in the oil industry lower oil prices are better. The problem with most economics in the past 30 years is the legacy use of continuous function shortcuts even though it is more reliable and increasingly less costly to use brute strength in the form of computer power to get the right answer the first time.
??? I think you need to explain that one. Are you saying that economists use of, say, a continuous function such as f(x) = x^3 − 6x^2 − x + 30 rather than a discontinuous one such as f(x)= 2/(x^2 − x) is problematic? Also, how is it that using a continuous function is the mutually exclusive alternative to using brute force. Please clarify what you are saying.
http://antonbekkerman.com/classes/ecns309/MathOverviewKeat.pdf
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