Archive for May, 2011

The space age

May 19, 2011

The trends in technology seem to conspire towards space travel.  Video games to beguile the long time travelling.  Living in small spaces to simulate a space ship.  Social network software to facilitate non smelly, non touchy interaction with a large set of anonymous people.  It is almost as if science fiction (skiffy) were come alive. 

Why would this happen?  Who will inherit the Earth?

At the end of 2001: A Space Odyssey, there is a scene with an old man dining solitarily in a large empty room.  The table is set by a servant.  A wine glass breaks.  Space odyssey, get it?

The Household sector

May 11, 2011

There is in fact only one sector. And that is the Household sector. This was the first lesson Dr. S.L.Shetty taught me when I joined EPWRF in Kandivli. All other sectors are subsidiary. They are not real. Think of the world at night (“There’s a kind of hush…”). Every little household in its bed, and all those ghostly dark assets, all belonging to someone. Or all that some household has control of or disposal over. You might cite the Government assets, but as I’ve explained before, we can see certain households controlling government assets.

So what I want to really see are the household accounts in real time.

A household is a set of people who share the same kitchen or cooking facility.

What I meant

May 10, 2011

Income is an ex post concept.  After a definite time period, what I have in fact consumed, is an assemblage, a bundle, a composite commodity.  Thus there can be no dispute over what constitutes income.  The appraisal of assets takes place at a point in time.  At two points in time.  A slice of time in a finite stretch of time.  My time.  My lifetime.  Measured in breaths, in coffee spoons. (In cigarettes.)  At any given point in time, there exists a set of  sentient beings.  They coexist.  Over a certain period in their lives, people join the labour force.

They work together. They jointly produce the goods we require. As Professor Jim Becker used to say, Man does not live by bread alone, but bread he must have. Or words to that effect. Now this inventory of goods (perishable, storable, long-lived, and so on) can be seen reflected in certain classificatory schema, The ISIC, CPC, all come to mind. Income is that part of the total wealth we consume, without impairing in any way our stock of wealth at the beginiing of the slice in time in which we are doing the accounting. For a definition of what wealth is see elsewhere on this blog.