Optimal control of systems with capacity: Related noises

In the ordinary theory of optimal control (LQR and Kalman filter), the variances of the actuators and the sensors are assumed to be known (not related to the capacities of the devices). This assumption is not true in practice. Generally, a device with greater capacity to exert actuating forces and a sensor capable of sensing greater sensing range will generate noise of greater power spectral density. When the ordinary theory of optimal control is used to estimate the errors of the outputs in such cases it will lead to faulty results, because the capacities of such devices are unknown before the system is designed. The performance of the system designed by the ordinary theory will not be optimal as the variances of the sensors and the actuators are neither known nor constant. The interaction between the control system and structure could be serious because the ordinary method will lead to greater feedback (Kalman gain) matrices. Methods which can optimize the performance of systems when noises of the actuators and the sensors are related to their capacities are developed. These methods will result in smaller feedback (Kalman gain) matrix

"The Social Wage, Welfare Policy, and the Phases of Capital Accumulation"

This paper addresses two broad questions. The first one relates to the economic rationale for the existence of the welfare state. To address this question, we review the marginalist arguments and then counterpose a historical and institutional analysis of the rise of the U.S. welfare state. The second question concerns the macroeconomic impacts of welfare spending. We examine the standard neoclassical macroeconomic arguments for and against welfare cutbacks and then propose an alternative growth framework, rooted in the classical and Harrodian traditions, to evaluate social policy. We argue that the alternative framework provides both demand-side and supply-side mechanisms whereby social spending can be supported without harmful long-run macroeconomic effects. Our analysis suggests that, in general, because growth and crises are endogenous, there may be no tension between social policy and economic performance. Specifically, the recent cutbacks in the U.S. are hard to justify on purely economic grounds.

Finance in a Classical and Harrodian Cyclical Growth Model

This paper addresses two broad questions. The first one relates to the economic rationale for the existence of the welfare state. To address this question, we review the marginalist arguments and then counterpose a historical and institutional analysis of the rise of the U.S. welfare state. The second question concerns the macroeconomic impacts of welfare spending. We examine the standard neoclassical macroeconomic arguments for and against welfare cutbacks and then propose an alternative growth framework, rooted in the classical and Harrodian traditions, to evaluate social policy. We argue that the alternative framework provides both demand-side and supply-side mechanisms whereby social spending can be supported without harmful long-run macroeconomic effects. Our analysis suggests that, in general, because growth and crises are endogenous, there may be no tension between social policy and economic performance. Specifically, the recent cutbacks in the U.S. are hard to justify on purely economic grounds.