Logic and Economics: Free Growth and Other Surprises

Simply put this book is about my personal ideas in economics. Its about lessons learned from my father J. Paul Getty as well as my own experiences. I love the free market and the chance to prove ideas and the fact that innovation is changing the world as we know it.While science tends to predict the rule from the data philosophy tends to reverse the direction. The bottom-up scientific method doesnt get far in economics because market data reveal little about human capital which is some two-thirds to four-fifths of all capital in most judgments including mine beyond its rental cost in pay. The best economics can do is feel its way in the dark from assumption to prediction as a rule and then look for ways to scrape together enough market data for a test.This book covers my personal theories about the following topics: Bank DevolutionDepreciation TheoryFree Growth TheoryInflation-Protected Dollars (DIPS)Market MoneyNext Generation TheoryDepreciation Recovery RuleRisk TheoryOutput RulePay RuleAs you read this book you may or may not agree with me and thats okay by me. But perhaps you will discover a new perspective on an old theory.About the Author: The music of the American composer Gordon Getty has been performed in such prestigious venues as New Yorks Carnegie Hall and Lincoln Center Londons Royal Festival Hall Viennas Brahmssaal and Moscows Tchaikovsky Hall and Bolshoi Theatre as well as at the Aspen Spoleto and Bad Kissingen Festivals. Getty was the subject of the 2016 documentary film There Will Be Music by director Peter Rosen. PBS broadcast the film around the country in 2017. His music is published by Rork Music. Learn more: www.GordonGetty.com.