The Burning

Thomas Legendre

The novel was sent to me by a person in UK who read my works. He attached a note in the book, "An interesting concept of promoting economic ideas by writing a novel". I like the novel a lot.

One perception from the book is that a theory a person advocates is very much related to his or her own personal experience and personality. Those who advocate mainstream theory are very smart and are very capable to assess environment to take greatest advantage from it. They are always the winners in society. Those who advocate the theory which is fundamental over the long term but does not appeal to the general public are those whose social abilities are limited and are often the losers in the society.

The question remains. Why there are still losers in the world, albeit in small numbers, given the evolutionary forces? I think this is because these losers are winners in the long run. These losers, despite their failure in their own life, are very inspiring:

"Logan read the book twice, filled a legal pad with notes. He tried to contact Nicholas Georgescu but discovered he was dead. No surprise. The book had been written thirty years ago by someone who understood physics, philosophy, calculus, econometrics, history, and at least three languages. A lifetime's worth of knowledge. And the following week Logan tried not to let the contrast between Georgescu's accomplishments and lack of recognition depress him. So what if a great mind has arisen, produced insights worthy of a Nobel Prize, and died in obscurity." (p. 94)

But I do believe the tide is turning.

The following represents the current state of ecological economics:

"I haven't drafted any specific equations to quantify such a theory. In fact, I'm not even sure it's possible to quantify it at all. All I know is that we, as economists, are on the wrong track. I'm proposing a move in what I believe is the right direction. And I need your help. This isn't something one person can do alone." (p. 352)

I think a theory built on a sounder physical foundation will yield better quantitative results. One characteristics of my work is that the theory is analytical, which enable the results to be applied to daily business and economic activities. This is how the new theory distinguishes from earlier theories of ecological economics.