A Beginner’s Guide to Austrian Economics
From the article:
The “Austrian School” of economics grew out of the work of the late 19th and 20th century Vienna economists Carl Menger, Eugen von Bohm-Bawerk, Ludwig von Mises, and Friedrich Hayek (though of course Austrian School economists need not hail from Austria). Austrians focus strongly on the analysis of individual human action. This is known as praxeology, the study of the logical implications of the fact that individuals act with purpose, from which all economic theory can be deduced. Austrians also note the correlation between greater economic freedom and greater political and moral freedom. This in part explains why Austrian economics is the intellectual foundation for libertarianism. Austrians rightly attribute the repeated implosions of mainstream Keynesian economics to the latter’s focus on empirical observations, mathematical models, and statistical analysis.
The “Austrian School” of economics grew out of the work of the late 19th and 20th century Vienna economists Carl Menger, Eugen von Bohm-Bawerk, Ludwig von Mises, and Friedrich Hayek (though of course Austrian School economists need not hail from Austria). Austrians focus strongly on the analysis of individual human action. This is known as praxeology, the study of the logical implications of the fact that individuals act with purpose, from which all economic theory can be deduced. Austrians also note the correlation between greater economic freedom and greater political and moral freedom. This in part explains why Austrian economics is the intellectual foundation for libertarianism. Austrians rightly attribute the repeated implosions of mainstream Keynesian economics to the latter’s focus on empirical observations, mathematical models, and statistical analysis.
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1. That only one person at a time in the entire world can be thinking of the same solution to a problem at any given point in time.
2. That inventions happen instantaneously.
If you can’t agree with these two points then your point is nonsense. And quite honestly it would be pretty absurd to believe that these two would be true because history has shown that more than one person in the world can have the same solution to the same problem.
Here's a quick list of the more common ones (the XNOR and EOR are REALLY situational):
NOT - inverts input: 0 becomes 1, 1 becomes 0
OR - when either input is true, output is true: 0 + 1 = 1, 1 + 0 = 1, 0 + 0 = 0, 1 + 1 = 1
NOR (~OR) - when either input is false, output is false: 0 + 1 = 0, 1 + 0 = 0, 0 + 0 = 0, 1 + 1 = 1
XOR (eXclusive OR) - only when one of the two inputs is true is the output true: 1 + 0 = 1, 0 + 1 = 1, 1 + 1 = 0, 0 + 0 = 0
AND - when both inputs are true, output is true: 0 + 1 = 0, 1 + 0 = 0, 1 + 1 = 1, 0 + 0 = 0
NAND (~AND) - when both inputs are false, output is false: 0 + 1 = 1, 1 + 0 = 1, 1 + 1 = 1, 0 + 0 = 0
http://en.wikipedia.org/wiki/Logic_gate
Were they made at the exact time? That's hard to say but I would argue that if they can be made independently without knowing of its current existence in the first place then yes it would be possible.
With the acceleration of new innovations happening today and all of the information of world at everyone's finger tips, I would say it would be even more possible now than ever before.
Have you ever tried doing math in Base 8 (octal) or Base 16 (hex)? Talk about a complete mind shift. Same thing applies with binary/digital logic - it requires its own rules and computational constructs. Babbage's engine was really only a physical construct that used binary logic. The genius was in not only outlining the rules for the binary logic structure, but incorporating them into a physical manifestation/invention that proved the concept.
A degree establishes that the person has a verified level of competence in that topic that is of notable difference from the common man. Does this exclude other individuals from enlightening themselves? Of course not. But let's be realistic - that is the exception rather than the norm and should be treated as such.
For me, a computer must be a device able to take an input and generate an output autonomously. It can't be an "aid". That was why Babbage's engine was so revolutionary. The engine was set up (programmed) to accept an input, process it, and generate an output, but was not reliant on the person to provide the processing power. That's the differentiation I would make. If you set up Babbage's engine to a crankshaft powered by a diesel engine, it could operate without human interference consistently and without error while still churning out useful (and variable) results. Take a human out of the pairing with either abacus or slide rule and there is no similar utility.
And BTW - my dad showed me how to use a slide rule one time, and you're not missing out on anything - as long as we still have power. In the event of a global EMP, I may just have to ask him to break it out again for me...
This is exactly the sort of nonsense that suggests that no mechanical invention should obtain a patent because they are all made from the 8 simple machines.
Clearly logic is used to design slide rules and analog computers but does not use AND and OR statements.
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