Re:We’re Measuring the Economy All Wrong
by umanwizard on Friday September 14, 2018 @01:34PM
(#17989161)
The person you're responding to wasn't arguing against this 2-dimensional currency idea. They were explaining that it would make no sense to model as complex numbers.
A lot of the confusion in this thread seems to come from people believing that the main idea of complex numbers is that they are just pairs of real numbers.
That is wrong -- pairs of real numbers are just pairs of real numbers. Complex numbers are pairs of real numbers with a particular multiplicative structure.
I made it clear I agreed.
I should have added that it only becomes circular if you add the point at infinity. Otherwise it’s more similar to a plane. But yes, it’s not simply x,y numbers when you assume y^2=-1. The geometric interpretation of the complex numbers matters, and you have to do it correctly. Gets very hard to imagine quickly.
But there is definitely something lacking from reducing everything down to a one dimensional measure. For instance, there are many pieces of real estate improvements that ought to be torn down and replaced with new improvements (homes, commercial buildings, etc). But the economy rarely offers incentives or even the abilities to tear down and rebuild - despite the huge benefit construction is to an economy. For things like this, I conclude the economic system is not closed. It’s not creating a self sustaining relationship between all participants.