Economic Theory

Aspects of STRIGIFORM SCIENTIFIC are a discussion of the primary components and forces of nature, of derived product, and also of language descriptive of functions capable of elucidating processes of substantive valuation. One descriptive Massachusetts story of resource economics postulates that the Magnusen Stevens Marine Fisheries Act accelerated the coastal Massachusetts fleet’s capacity to catch Cod, via subsidization of advanced fishing vessels which then proceeded to deplete the Cod fishery; thus, creating self destruction of the economic interests of Massachusetts fishermen. Two potential scenarios comprise the remainder of the story. Essentially, the intent of the understandings garnered is to convey that 1) in real terms where a physical commodity is the basis or standard of exchange, there are fundamental differences between renewable and finite natural resources. Renewability conveys potential for perpetual use, yet these resources are often subject to diurnal, seasonal or other temporal functions of rate and period over intervals of time. The term finite conveys a singular value to be harvested or extracted within any given timeframe, as with an ore lode. 2) Within the abstraction of economic theory, when no physical commodified basis or standard exists, it is then only ideations of value termed currency which exist as real physical nature is exceeded, depleted, wasted and destroyed; and more so when capital has no inter market restraints whatsoever. Therefore, according to this scenario; upon the “disappearance” of the advanced fishing craft responsible for depletion of the Cod fishery (Kennedy era), boat sale capital would have been expected to simply be transferred to local inland markets such as logging equipment finance of such machines as fellers, bunchers and loaders in place of the boats. That means that the Federal expenditure on fishing subsidy during the Kennedy administration’s Tonkin, Magnusen Stevens Marine Fisheries Act, and Missile Embargo era either confronted a different fate off St. George’s Banks and perhaps in Cuban Waters, or went elsewhere. The difference being in variabilities and relativities of species specific biometric valuation, including that of humans, fish and trees, and in pertaining applications of capital.