"First World Macroeconomics in less than 2,500 words, part 1"

Time question...

it's:

* daytime [you did say "Coy" and "Bubba"]
* nighttime [ditto]
* it's late both places and thus bed time
* time expressed in GMT
* it's at least after 5PM both places so it's "Miller time" [mega dittos]
* could be "dinner time" both places

But the classic answer is... one lives in eastern Oregon [mountain time] and the other in the [western] Florida panhandle [central time]. Normally, they are an hour apart, but... when changing from daylight time [from whence you sprung ahead] to standard time when you spring back, then at 2AM CDT the time in the Florida panhandle reverts to 1AM CST while it is also 1AM MDT in eastern Oregon.

And you should ask... "and what day is it and what time is it" [but that may give away the answer].

Tommy in Panama City should get this...

Larry Wells
Atlanta, Georgia
USA

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This week's riddle: Coy is in an East Coast state. He calls Bubba, in a West Coast state, and asks what time it is there. After hearing Bubba's response, Coy (correctly) replies, "That’s funny it's the same time here." Explain.

Answer: Its Miller time!

Alt answer: Its Beer-thirty!

BTW. I missed the article on graft in the industry. Is there any way to obtain back issues of Nip Impressions?

Thanks

Jim Ruzicka
Neenah, Wisconsin
USA

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Hmmm--papermakers and beer. For any back articles, you can always go to www.nipimpressions.com and click on "search" in the top navigation bar.

Jim

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Dear Jim,

Always a pleasure to read your pieces. thanks

One edit suggestion I have re Wright bros and innovation "They are out of work." RH edit is "their innovation 'moves on'" [or should]...I also see entertainment as a need for society and innovation [invention and exploitation] as a motive force [motive or perhaps even motif is an interesting word ...macroeconomic motifs?...can be used algebraically to extend your maths analogy/ allegory? http://en.wikipedia.org/wiki/Motive_(algebraic_geometry) http://en.wikipedia.org/wiki/Motive]

I used to do RnD in paper industry [albeit ultimately tied up more in almost service related stuff] and even had a new idea for a new process [time, money, risk all way to high for my limited pool of industry profit making friends] ...ultimately I decided to move my innovation activities on to textiles for a variety of reasons including the excitement around 'electronic textiles/flexible electronics'. If you can be bothered perhaps google 'Richard Helmer' and 'air guitar' ...a little bit of innovative/creative whim from me [I do other more serious stuff as well] as I moved on.

Perhaps one day I will return to papermaking and like the Wright bros 'have a go' because I reckon it can be done ...personally cant afford it at present

my approach to research and innovation is try to do things 'people are interested in' [yes that's it]...my limited experience of RnD tied to closely to current business models is it suffers stagnation diversions and lack of funding tho ironically that's where most funding is in terms of the wider pool... I reckon you need to make fun of things and speak plainly [and obviously know (and sometimes not know) what you're talking about...not that I necessarily do in this instance!?...a nice bit of contra-diction]

be Safe

Richard Helmer
CSIRO
Australia

PS: the paper industry also has its own exciting characters and stories of innovation worthy of recitation [aka Fourdrinier [spelling?] bros etc] ...in general the need/want/new capability/vision needs to b fairly clearly articulated at some point ...not always easy

Pps: we wont broach the philosophical of where one's talents are best utilized ...I definitely don't know the answer to that

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I enjoy your e-mail newsletter every week. The last one had good thoughts about growing industries being necessary to support underlying industries, and to provide more jobs down the chain. It reminds me of what Horace Dodge said about the car industry in its early years. At one time, about 75% of all cars worldwide were Ford Model T's. The Dodge Brothers were early stockholders and backers of Ford, but they started their own company. They wanted to build better automobiles than the Model T. Horace Dodge made the statement, "Think of all those Ford owners who will some day want to own a car." I see this theme in your writings often. Ford created the mass automobile industry, enabling millions to own cars and giving the impetus for the creation of many supporting industries and jobs. Others built successful car brands that served this base. As you know, Ford foundered in the late 20's because it didn't change its product, and struggled through the 30's catching up. I was quite gratified, as you probably were, that Ford turned down the bailout and will probably be far better for it in the future.

Thanks,

Donnie Coody, P.E.
AMEC Power & Process
Greenville, South Carolina
USA

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Excellent! Way to go! Macroeconomics has become horribly politicized and dreadfully inadequate at universities. The audacity you have shown to list the general public's demand for travel as the first order vs the government's latest regulation has probably made you a marked man by the intelligentsia. Keep up the good work, I am certain that many of your readers have never looked at macro the way you presented it. The Cellulose Community could have an economic theory perspective as there is no where for the little guy in the industry to go to discover and advance his economic perspective - free of politics. What a valuable and life changing service that would be!

Glad to hear that you see it from the perspective multiple of nth order derivatives and not from the Keynes General Theory of an all first-order equation world. Like it or not, you just expressed the Austrian School's core concept that innovation occurs at the nth derivative while the first order tends towards stasis.

Mike Ryan
Process Laboratories Corporation
Chillicothe, Ohio
USA

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Jim,

Coy is on the East coast of Florida and Bubba is on the West coast of Florida.

Gerry Craig
Carthage, New York
USA

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