Posted by Ritch on February 13, 2002, at 23:56:24
In reply to Re: The economic model » Ritch, posted by sid on February 13, 2002, at 22:57:12
> > Hi Sid, What's your take on the concept of psychic income (positive and negative)? The first major I declared was Econ after my first Macro class. Micro was where they brought up this concept, but I liked long-term trends and cycles better. Oh, and of course that leads to this other idea-what about economic cycling as it relates to bipolar disorder? Is controlling the money supply something akin to managing a bipolar patient? :-)
>
> Can you remind me what psychic income is? I don't recall it. There's a lot I don't recall, basically anything I don't use every week!
>
> About economic cycles and bipolar people, that's a thing to think about... Monetary econ is not my forte though, so I'll have to let others reply to that one. I'm into applied micro and trade.
Oh, psychic income-let me see. *Actual* income equals the sum of material income (physical compensation-money), plus (*or* minus)the psychic income associated with the activities involved with earning the physical(material) rewards. The best analogy is this (and I have been on the butt end of experience here more than once):ASSUMPTION SCENARIOS:
1) You have "picked" a career that you have no significant complaints or stress about-and equally also don't find particularly enlightening or rewarding. You just get your paycheck and go home and you are good at what you do, but don't find much emotional or *psychic* investment or *dis*investment involved with the performance of the tasks required to get your paycheck. So, you have actual income=material reward.
2) You find yourself in a very high-paying career, but it is stressing the hell out of you and you have increased medical problems and you need to see a psychotherapist regularly to keep you from losing the high-paying job, just to keep you from breaking down. So actual income may still be the same as in (1), but the high Material Reward is reduced by all of the hassles associated with your job (I call it getting paid for "headaches").
3) You have a job that pays a relatively small Material Reward, BUT, has an unusually high amount of *fun factor*. YOU REALLY ENJOY THIS JOB. You get a great "kick" out of it despite its low pay. Good example: You teach, and love your job. You are creative and you paint, write, etc., but you get such a "buzz" from the process of working, it *compensates* for the lack of material reward. So you still *end up* with the SAME amount of ACTUAL INCOME as in #1 or #2.
I will have to think more about the macroeconomic cycling before I reply.
Mitch :0
poster:Ritch
thread:18064
URL: http://www.dr-bob.org/babble/social/20020202/msgs/18229.html