Suddenly it's robots everywhere. Sandwichman got the jump on this trend back in July with the New Robot Economist Pop-up Theatre. Nick Rowe at Worthwhile Canadian Initiative has joined the fray with a post on the Production of Robots by Means of Robots.
In his post, Nick presents a "model" of how a robot economy might work, ignoring land, which he expresses as C + I/a = L + K and Kdot = I. He later modifies his model to include land: C + I/a = (L + K)b.N1-b.
The Sandwichman's youtube clip also contains a model. It is a physical model constructed of cardboard (pasteboard) and string rather than a mathematical model but it wouldn't be difficult -- just unnecessary and pedantic -- to express mathematically how the arms, legs and jaw will move in response to a pull on the string.
Which brings me to a question. In what way is Nick's mathematical model of a robot economy any improvement over Sandwichman's pasteboard jumping-jack model of Nick Rowe?
Pages
- Jobs, Liberty and the Bottom Line
- Time on the Ledger: Social Accounting for the “Goo...
- Intermediate Goods and Duplication
- The Long Term Problem of Full Employment
- The Source and Remedy of the National Difficulties...
- Grundrisse: "Capital (like property) rests on prod...
- Economic and Philosophical Manuscripts of 1844: "W...
- McCulloch on Combination Laws
- Submission to the White House Task Force on Middle...
- Thinking Along the Right Lines
- The Problem with "The Problem of Social Cost"
- State and Prospects of Manufactures
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