Scot Wick Blog

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 9 The Real Economy in the Long Run Chapter 25 of 36 Production and Growth Section 7 of 23 … The productivity determinants are: -1- physical capital -2- human capital -3- natural resources -4- technological knowledge … -3- Natural resources Natural resources are production inputs provided by nature, including land, rivers, and mineral deposits. There are two forms of natural resources: renewable and nonrenewable. A forest is a renewable resource. When a tree is cut down a seedling can be planted to replace it for future harvest. Oil is a nonrenewable resource. Oil is produced by nature over many millions of years, once the supply of oil is depleted, we cannot create more. … Differences in natural resources result in some of the standards of living differences among countries. The economic success of the United States is partly a result of the large supply of land for agriculture. Some Middle East count...

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 9 The Real Economy in the Long Run Chapter 25 of 36 Production and Growth Section 6 of 23 … How is productivity determined? For Robinson Crusoe, fishing productivity factors include: -1- his amount and quality of fishing poles -2- any previous training in or experience with fishing techniques -3 - the size of the island’s fish supply -4- his ability to develop better fishing tools Each of these four are productivity determinants, and have counterparts in large economies. These determinants are called: -1- physical capital -2- human capital -3 - natural resources -4- technological advancement … -1- Physical Capital Workers are more productive if they have greater quantity and quality tools. The stock of equipment and structures used for production is called physical capital, or simply capital. For carpenters, the capital they use includes saws, lathes, and drill presses. More and better tools allow car...

“The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds.” - William James “All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.” - Thomas Jefferson “Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind.” - Leonardo da Vinci “Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life in complete harmony, contentment, and mutual love. But in that case all their talents would hav...

Newest edit of HAT Manifesto Part 2 of 2 - Hypothesis and Novel Story Summary Go through and edit parts 1 and 2 three times a year and every time add and change much. It’s All jest a brainstorming attempt at a concise science fiction novel. … Logical and spiritual, literal with liturgical. Current Old and church bells-broken mainstream religions might seem non-efficacious. But these fundamentally teach us philosophy needn’t be completely nor even nearly logical and reasonable, as HAT might at first light seem to be. They preach wHATever We believe to be true is true, assume often as good as or better than proof, wHATever reality We believe to be real is really real, our faith is the faith, our church is tHAT HATrack church. On own Deism realism is too true to be New, sterile not fertile, but in combination with HAT tHAT is God’s salvation. Music, art, love, faith, dreams, myths, and religion teach and preach ignited “unreasonable” passion, above reason, emboldens and enables action and...