Sunday, April 2, 2017

Knowledge and price

From Wood to Coal: Directed Technical Change and the British Industrial Revolution

The authors discuss the industrial transition in England. Why did we get the team engine in 1712. The Newcomen steam engine is a good start, it was used in actual mining, like coal.  How did that happen hen and not sooner?   Well trees are easier to cut but less efficient in burning. Coal is just beneath the surface and require uncertainty and prep work. AT some point, the English occasionally dug coal instead of wood,and bit by bit created coal burning utensils, like a steam pump that uses steam to suck water.  The accumulation of coal technologies creates economies of scale and soon you have the Newcomen engine helping to drain coal mines.
is the ratio of knowledge in the Malthus sector (actually varieties of machines) to knowledge in the Solow sector.

But, in research like this we like to match semantics to the sandbox

In the sandbox, pricing precision is knowledge. In canonical two color  balanced tree, the rank is the complexity, or the dimensionality of the price sequences. NlogN is the number of machines. The machines connected up generate the typical sequence implied by the knowledge.

My theory

The woodcutter, on his daily rounds, catches the coal digger, yet again.  So, in the deja vu,. the woodcutter alters his routine so as to 'two color' the coal digger.  He schedules his deliveries just before the coal digger.  Soon, they have segmented the population into wood burners and coal burners.  If the  children survive, they become carpenters and steam engine inventors.

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