Weinstein: "You guys are the most Jewish department I've been to, you keep interrupting me." Chicago: "We'll let you talk for five minutes without interrupting you."
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Weinstein: "We have a circle with circumference 2*pi, we all know how that works." Now I'm very confused.
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Weinstein: "Rise over run is a derivative. That's differential calculus. But there is a linguistic encoding here. It's rise over reference level." "If you think inc and sub effects, sub effects provide you with a horizontal reference level." "This is economically meaningful."
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"Nominal constancy uses the ordinary derivative you're taught. There is another constancy you're not taught, that is constant purchasing power." Now he's showing a graph and saying that he did a gauge transformation where constant purchasing power is the notion of constancy.
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Weinstein: "You don't really know the divisia index." Chicago: "You keep telling us we don't know things, why don't you just explain it without saying we don't know?"
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Weinstein: "I'm going to make a claim which is a bit offensive, I'm sorry, I don't mean it." "You're looking at a very flat plain..." "That's called a flat-lifting problem." "This curve is in some sense horizontal." "This is constant relative to the blue plains."
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Weinstein: "Have you seen this picture? That's the problem, I read so much of your literature and you don't seem to understand."
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Chicago: "We all want to know how this can be useful. I've read your paper, and you seem to have a specific proposal. What we all want to understand is how your function is defined and what your assumptions mean economically." "If we don't understand the math, we'll tell you."
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Weinstein is explaining how you can mimic ordinality under a cardinal space. "Finding a version of ordinality within cardinality"
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Weinstein: "If the bottom space were 12 dimensional and the top space were 38 dimensional, I would have a fibre plain with 12 dimensions."
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this is the most important intellectual performance of a generation
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