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Indigo Disproving the Lagrange Mathematics in Economics | Erin Mills Town Centre
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If the world is free, you can pursue maximum of your objective at will. But you live in a world of limited resources, so Lagrange mathematics helps you attain the constrained (rationed) maximum. This book reveals that you might have misunderstood the word “free”. It does not mean free of charge, but means that you are free to hire any optimal amount of input, as long as you pay the input price (including interest cost). So there is no constraint to hold you back from pursuing your objective. Without any constraint, the whole Lagrange kingdom collapses.
If the world is free, you can pursue maximum of your objective at will. But you live in a world of limited resources, so Lagrange mathematics helps you attain the constrained (rationed) maximum. This book reveals that you might have misunderstood the word “free”. It does not mean free of charge, but means that you are free to hire any optimal amount of input, as long as you pay the input price (including interest cost). So there is no constraint to hold you back from pursuing your objective. Without any constraint, the whole Lagrange kingdom collapses.
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