1.3.3. Economically Meaningful.

D.1. Economically Meaningful: All meaningful in economics is only description of relations based on variations.

E.1. A logical derivation is as follows:

i. Economically Meaningful implies it has Market Interpretation. Since economics began, and remains concerned with study of market.

ii. Market Interpretation implies it can establish, or explain an Economic Relation.

iii. Economic Relation implies agents have their Relative Valuations of means given their ends in mind. (Formally, relative degree of scarcity of means affects rate of substitution of means, given the ends)

iv. Relative Valuation implies Substitution of endowments/means can now take place.

v. Substitution implies: Exchange at the given time, or Exchange over time.

Examples: Exchanging apples with Oranges now (Buying/Selling), or sowing seeds of apples in a garden with expectation of its fruits (Saving/Investment).

vi. Economic Relation also implies non-uniformity of preferences and/or endowments of/between agent(s) who transact. (Already established in preceding observation)

vii. Therefore, Economically Meaningful implies: Relation between non-uniform distribution of means, and ends of different agents based on Relative Valuations of their own means given their own ends.

viii. Or simply, Economically Meaningful implies Relations Among Agents Based on Variations of Their Means and Ends,

ix. Or: Economically Meaningful is Relations Based on Variations.

Remark: This is but only implicit in his writings, and attempt here has been made to make it explicit.

Reference: Chapter 03 of Robbins, L. (2007). An essay on the nature and significance of economic science.

Brainstorming: What is Importance of Attention Direction?

Brainstorming: What is Importance of Attention Direction? Notes: It is useful for every apprentice to brainstorm and organize their ideas on important topics. This helps recall, and also discover logical gaps, or other weaknesses. I have attempted to do the same here. You may use it to develop your own diagram to organize and refine your own thoughts around the question in the title. See Project Concept Maps (Slide on Concept Maps) for understanding how these diagrams were made. You may download the picture to see it full size (Left Click on the picture, and select Save As.)

2.1.0. Primacy of the Need Satiation.

D.1. Primacy of the Need Satiation: All humans strive for satiation of their Needs, and this forms the primary cause of all the variations in an Economy. Axiomatic Derivation: 1. All Humans have Needs (See Need for concept details). 2. All self aware organisms are aware of their Needs, and consequences of thwarting these Needs. 3. All self aware organisms are also organisms who wish to secure their existence . 4. All self aware organisms, following 2 and 3, strive for satiation of their Needs. 5. Humans are self aware organisms. 6. Humans being self aware strive for satiation of their Needs. 7. The sum of all such strives by various individuals form an Economy, or Market. 8. Alternatively, strive for satiation of the human needs forms the principle cause of all the variations in an Economy. 9. NOTE: For an elaboration of this, an explanation below shall be appended soon.

Brainstorming: What is Economics?

Brainstorming: What is Economics? Notes: It is useful for every apprentice to brainstorm and organize their ideas on important topics. This helps recall, and also discover logical gaps, or other weaknesses. I have attempted to do the same here. You may use it to develop your own diagram to organize and refine your own thoughts around the question in the title. See Project Concept Maps (Slide on Concept Maps) for understanding how these diagrams were made. You may download the picture to see it full size (Left Click on the picture, and select Save As.)

Log Schemata

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