lee wrote on Dec 12
th, 2021 at 9:44pm:
You have admitted such a system hasn't been designed, much less tested.
The testing will occur when Snowy is completed.
Quote:And still you believe. That is the realm of religion.
No, rather empiricism, because the monetarist status quo isn't working.
You are the ISIS theologian in this debate.
Note: resource development and allocation, not money, is the true concern of economics.
Quote:From your reference - "The team developed the advanced GIS algorithms to locate prospective sites for off-river pumped hydro across a large land area such as a state or a country."
Wow and algorithm that can identify not just rivers but fall. They don't discuss soil types for these storage ponds in the underlying paper. What could possibly go wrong?
You have a low estimation of research and engineering, and technology development.
Quote:Is that why he ended in tears? Did he tell you that? Assumption based on naive belief. Another clue to religious fervour.
The ink was only just dry on "
phase out coal", when India forced a change of text to "
phase down coal", hence Sharma's tears. He didn't understand India would require massive assistance to 'phase out' coal. Assistance which the first world is not interested in giving, owing to the 'debt' delusion of orthodox economics.
Note: resource development and allocation, not money, is the true concern of economics.
Quote:And you can't show otherwise. Why is that?
Common sense ie
backup.....never mind; common sense isn't all that common.
Quote:Oh dear a computer study that didn't even look at soil types.
The point is half a million sites are available for further study.
I am just about ready to cease dragging you - kicking and screaming - into the new renwables-based, circular economy of the 21st century.
(It's likely to be as fruitless as dragging an ISIS theologian toward a non-fundamentalist reading of the Koran...)
Quote:Yes. Experiment not make a huge assumption before doing the experiment.
What assumption? The massive global debt is real after covid, and has to be dealt with. It's time to write-off much of it. Experiment.
Quote:Remember that other one? "Science is the belief in the ignorance of experts." That means no appeal to authority. Make sure any experiment can be replicated. That is a big problem in science at the moment.
AGW science maybe, though the largest tornado in history in the US is convincing more and more even among the non-experts.
Meanwhile the biggest government debts in history, as a result of a global pandemic, are REAL.
Quote:It is textbook.
....the obsolete mainstream textbook, that is.
Quote:"First, the source of useful, well-compensated work is unclear. While MMT suggests taxes can be used to direct production, government influence over businesses that create jobs is limited. The impact of labour-reducing technology and competitive global supply chains is glossed over. Getting one person to dig a hole and another to fill it in creates employment, but it is of doubtful economic and social value. The woeful record of postwar centrally planned economies, where people pretended to work and the government pretended to pay them, highlights the issues."
Hats off to you for reading the article, I wondered if you would read it.
Next step: educate yourself, so that you don't make the same mistakes as Das who prefers to stick with his classical orthodox education, in the face of its obvious shortcomings.
eg "Getting one person to dig a hole and another to fill it in creates employment, but it is of doubtful economic and social value".. No understaning at all
eg, local council-organised-assistance for home maintenance for the elderly, when spare labor is available (ie always, because some people always have difficulty finding a regular job) has definite social and economic value.
Anyway here's a start:
http://www.politicalforum.com/index.php?threads/mmt-overcoming-the-political-div...Everything You Thought You Knew About Economics May Be Wrong.and Bill Mitchell's blog:
http://bilbo.economicoutlook.net/blog/The latest article:
"Central banks are resisting the inflation panic hype from the financial markets – and we are better off as a result"