Skip to main content

Markets in the wild



There exist relations of "supply" and "demand" in a rain forest, or in a desert, without human presence much less currency as we recognize it. Let us take a look at how they exist and what that should mean to us.  

The creatures of a rainforest are not in need of water. It is all around them.  It is, so to speak, cheap. Indeed, they devote time and energy NOT to the task of finding it but to that of warding it off.  Of getting and staying dry!  Water has a negative market value in such a situation. 

The creatures of a desert are very much in need of water. They devote a good deal of time and energy to finding it and to storing it away.  Water has a positive market value and a high one. 

Once, while arguing with someone in an internet forum (I was in my 'fierce anarcho-capitalist warrior' mode), someone of a different persuasion told me, "markets aren't natural -- they are social constructs -- otherwise they would exist in the rain forest!" I cooked up the above riposte. 

Now I'm post-anarcho-cap and I'm not anyone's warrior.  But I am reminded of my analogy by climate related controversies.  So, as you see, I'm revisiting it.

The implicit 'currencies' of the natural world as I described it then are energy and time.  Could we state this as a single 'price' or would the further development of such thoughts require two distinct prices.  As if one could only buy water with one payment in yen and another payment in dollars?  That seems conceptually awkward. If I were trying to build on those thoughts in a systemic way I would probably use a portmanteau like "timergy" for what our creatures are expending, to get water or to get dry. 

But this raises the further question: why do humans need dollars and yen? If markets can work, in an ecological setting, with timenergy as currency, why can't we? 

In a sense we also do use timenergy as currency. 

So, let me run through some numbered propositions:

1) It should be possible to restate much of ethology, the branch of biology devoted to animal behavior, in terms drawn from classical microeconomics -- I strongly suspect somebody is working on it. 

2) That reworking, working from the proposition that healthy organisms act so as to maximize their timergy capital through the progenitive phase of life, should yield substantive hypotheses open to empirical testing.

3) In the meantime, it is for economists to work from the opposite side of this merger. What are the consequences for our understanding of the world's various policy currencies (the dollar, the yen, etc.) of our recognition of timenergy as a sort of protocurrency?  

Comments

Popular posts from this blog

A Story About Coleridge

This is a quote from a memoir by Dorothy Wordsworth, reflecting on a trip she took with two famous poets, her brother, William Wordsworth, and their similarly gifted companion, Samuel Taylor Coleridge.   We sat upon a bench, placed for the sake of one of these views, whence we looked down upon the waterfall, and over the open country ... A lady and gentleman, more expeditious tourists than ourselves, came to the spot; they left us at the seat, and we found them again at another station above the Falls. Coleridge, who is always good-natured enough to enter into conversation with anybody whom he meets in his way, began to talk with the gentleman, who observed that it was a majestic waterfall. Coleridge was delighted with the accuracy of the epithet, particularly as he had been settling in his own mind the precise meaning of the words grand, majestic, sublime, etc., and had discussed the subject with William at some length the day before. “Yes, sir,” says Coleridge, “it is a maj...

The Lyrics of "Live Like You Were Dying"

Back in 2004 Tim McGraw recorded the song "Live Like You were Dying." As a way of marking the one-decade anniversary of this song, I'd like to admit that a couple of the lines have confused me for years. I could use your help understanding them. In the first couple of verses, the song seems easy to follow. Two men are talking, and one tells the other about his diagnosis. The doctors have (recently? or a long time ago and mistakenly? that isn't clear) given him the news that he would die soon. "I spent most of the next days/Looking at the X-rays." Then we get a couple of lines about a man crossing items off of his bucket list. "I went sky diving, I went rocky mountain climbing, I went two point seven seconds on a bull named Fu Man Chu." Then the speaker -- presumably still the old man -- shifts to the more characterological consequences of the news. As he was doing those things, he found he was loving deeper and speaking sweeter, and givin...

Searle: The Chinese Room

John Searle has become the object of accusations of improper conduct. These accusations even have some people in the world of academic philosophy saying that instructors in that world should try to avoid teaching Searle's views. That is an odd contention, and has given rise to heated exchanges in certain corners of the blogosphere.  At Leiter Reports, I encountered a comment from someone describing himself as "grad student drop out." GSDO said: " This is a side question (and not at all an attempt to answer the question BL posed): How important is John Searle's work? Are people still working on speech act theory or is that just another dead end in the history of 20th century philosophy? My impression is that his reputation is somewhat inflated from all of his speaking engagements and NYRoB reviews. The Chinese room argument is a classic, but is there much more to his work than that?" I took it upon myself to answer that on LR. But here I'll tak...