the sickness of k'ism

jf noonan jfn1 at
Wed Aug 16 22:38:49 PDT 2000

On Thu, 17 Aug 2000, Doug Henwood wrote:

> This paper solves numerically the intertemporal consumption and
> portfolio choice problem of an infinitely-lived investor who
> faces a time-varying equity premium. The solutions we obtain are
> very similar to the approximate analytical solutions of Campbell
> and Viceira (1999), except at the upper extreme of the state
> space where both the numerical consumption and portfolio
> rules
> flatten out.

They really believe this shit, don't they? Christ, what a nasty case of Physics Envy they have.

This stuff really makes the notion of 'political' economy sound quaint, doesn't it? I mean, we're just counting beans, nothing political about that, is there?

Fuck all, I'll take Adam Smith over this crap any day, if that's the choice.


Joseph Noonan Houston, TX jfn1 at

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