We are enjoying the colors of fall. After days of chilly grey skies and a steady wet drizzle. today's weather has been a welcome change. Oct. 4, 2016
The thin blue line at the Westminster Vol. Fire Dept. Wed. Aug. 24, 2016
Of course today, the term “augur” is also used in
decentralized economic game theory. The etiology of the concept of mathematical
modeling in conflict analysis between rational political actors dates back to Friedrich
Hayek's “The Use of Knowledge in Society,” first published in September 1945
and later included in the compilation, “Individualism and Economic Order.”
Although Hayek’s concepts are now well-accepted in the analytical world, they
were highly controversial in the early 1970s when the acting church secretary
was in the business of trying college professors who found it highly annoying
to be challenged. I had always argued that tulipmania, which peaked in March
1637, was a great example of a randomized commodity economic bubble which resulted
from government interference in economic markets. Read the 1641 book by British
journalist Charles Mackay, “Extraordinary Popular Delusions and the Madness of
Crowds.”