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Ask BadEconomics: End of Weekend Discussion Thread, 13 September 2015 (self.badeconomics)

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Welcome to the End of the Weekend discussion thread

Dud you get so drunk this weekend you ended up telling friends we need to return to a gold standard? Come by and share your weekend tales and anything else on your mind.

And also chat about any bad (or good) economic events. Remember to use the NP posts and whatnot.

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トップ新着論争中古い順Q&A

[–]CatFortuneにゃんぱす! 4ポイント5ポイント  (17子コメント)

Does anyone consider themselves a social moderate? I have no idea what that means, so maybe someone can tell me. I’d ask /r/PoliticalDiscussion, but I’m banned.

Also, what gives? I see /r/PraxAcceptance and /r/economicscirclejerk on my feed more than /r/BadEconomics these days. Maybe one of those will be my economics spot instead.

[–]grevemoeskrHumans are horses! 5ポイント6ポイント  (3子コメント)

Well, obviously, that's because we've purged all bad economics on the internet, leaving only dank praxes. We did it, /r/badeconomics!

[–]EsoteriColaAll problems can be solved by more co-ops 2ポイント3ポイント  (0子コメント)

Mission accomplished!

[–]G_Fil_24The gold standard could cure cancer 1ポイント2ポイント  (0子コメント)

Fuck yeah!

[–]bdubs91Maestro Today and Maestro Forever 0ポイント1ポイント  (0子コメント)

The Fed has yet to be abolished.

[–]Baratheon_EconomistEverything is endogenous 4ポイント5ポイント  (1子コメント)

Does anyone consider themselves a social moderate?

I guess I do. I imagine it just refers to people who are socially permissive; as in, neither conservative nor liberal. I think gay marriage should've been legalised, but it's not really something I'd ever agitate for.

[–]CatFortuneにゃんぱす! 0ポイント1ポイント  (0子コメント)

Just going by that, it sounds more like moderate liberalism to me. You have a liberal viewpoint, but you won't do anything about it. That's pretty much how I feel, and I consider myself a liberal. Maybe you have some conservative social viewpoints though, which I don't think I have.

[–]Grenshen4pxTwirling towards freedum!! 3ポイント4ポイント  (1子コメント)

I have political positions all over the place so i don't fit a certain ideological brand.

Don't know why being all over the place is seen as "treason" by people who want to be only a strict Left vs Right spectrum.

[–]CatFortuneにゃんぱす! 0ポイント1ポイント  (0子コメント)

I don't think it's treason; I just don't see it very much at all. There's usually a narrative that strings together a person's social viewpoints, and in my experience it tends to make them one or the other, not in the middle. Economic moderate views make sense to me because it's more objective and the facts fall on the left or right more evenly than most partisans respect. I have a hard time seeing how, for example, someone could be for gay marriage but against legal abortion. Maybe you could tell me some of your views and why you have them.

[–]wumbotarianmodeled as if Noah Smith was a can opener 3ポイント4ポイント  (2子コメント)

How does one get banned for politicaldiscussion?

[–]CatFortuneにゃんぱす! 5ポイント6ポイント  (1子コメント)

Rapping.

[–]wumbotarianmodeled as if Noah Smith was a can opener 0ポイント1ポイント  (0子コメント)

Beautiful.

[–]_Rory_It's-a-me, Mario Draghi 2ポイント3ポイント  (0子コメント)

It's easier to circle jerk than to critique bad economics and then circle jerk.

[–]bdubs91Maestro Today and Maestro Forever 3ポイント4ポイント  (0子コメント)

MC of BE posts is higher due to satisfying wumbo. Wumbo's wrath as a commitment device drives this result. Shit posting memes is considerably easier.

[–]iamelbenIn the long run, we're all /u/Integralds anyway... 3ポイント4ポイント  (2子コメント)

The problem that I perceive with /r/badeconomics, and I invite input especially from /r/besttrousers and /r/wumbotarian on this (who I think of collectively as these lovable old cranks), is that what originally began as a circklejerky place to poke fun of bad economics has become this incredibly rich community of economics EDUCATION.

Note, for instance, the incredible popularity of the stickies. They have increased in both volume and frequency over the past few months, and I'm beginning to see new, vibrant users really play a big role in shaping conversation (/u/Baratheon_Economist is a good example.)

The issue is this: as we become increasingly discussion-centric, we generate less content. I invite you to look at your post history for as long as you've been a member of BE. If you are anything like me, you post here and almost exclusively here.

The joke has been made that BE is externality-generating in that it pulls people who SHOULD be on the front lines into the warm, welcoming world of education via prax and may-may. That'st not a bad thing, but perhaps we should all be a little better about generating content and being watchers on the wall.

For the night is dank and full of praxxes.

[–]urnbabyurnNeoPanglossian 2ポイント3ポイント  (0子コメント)

I for one wish there was a way us mods of BE could monetize and appropriate this positive externality.

[–]commentsrusBring maymayday back! 0ポイント1ポイント  (0子コメント)

Someone should make /r/truebadeconomics as a place that isn't for learns. Have a bot cross post everything posted here there and then users can add their own low effort posts all day. Just like in /r/badphilosophy

[–]Baratheon_EconomistEverything is endogenous 4ポイント5ポイント  (6子コメント)

Jesus Christ, my thread in r/economics went downhill quickly.

Fuck me.

[–]Grenshen4pxTwirling towards freedum!! 1ポイント2ポイント  (1子コメント)

No doubt, like you, I don't consider myself a feminist. I'm not a fan of the modern social justice movement. I don't think females face institutionalised or ubiquitous discrimination any more. But that's what I think the evidence tells me.

Wtf? Why did he bring something up that wasn't even mentioned?

[–]Baratheon_EconomistEverything is endogenous 0ポイント1ポイント  (0子コメント)

I said that, because I presumed he was the kind of person who constantly has to smack down anything remotely resembling feminism.

I was trying to make him see how he's assuming some kind of disagreement which doesn't really exist, and it's making him completely miss the focus of the article.

[–]iamelbenIn the long run, we're all /u/Integralds anyway... 1ポイント2ポイント  (0子コメント)

Good lord, it's a comment graveyard in there. I kinda want to see what was behind all that [deleted].

[–]MrDannyOcean 0ポイント1ポイント  (0子コメント)

Mix one part overly-politicized topic, and one part "can't help but respond to an idiot" (and believe me I understand the temptation) and voila! - Nice batch of thread-bola.

[–]bdubs91Maestro Today and Maestro Forever 0ポイント1ポイント  (0子コメント)

Everything is deleted. I assume someone went on a crazy tangent against feminism?

[–]G_Fil_24The gold standard could cure cancer -4ポイント-3ポイント  (0子コメント)

Christ, what a bigot.

[–]grevemoeskrHumans are horses! 2ポイント3ポイント  (1子コメント)

Guys! Guys! Guys!!!! Natural monopolies can not into real

[–]iamelbenIn the long run, we're all /u/Integralds anyway... 0ポイント1ポイント  (0子コメント)

Lol @ "end the government monopoly on roads."

MFW

[–]shunt31 3ポイント4ポイント  (2子コメント)

You people shouldn't joke about shills so much. They exist, big-time.

[–]CatFortuneにゃんぱす! 3ポイント4ポイント  (1子コメント)

I think I was called a shill the other day because I disagreed that the average user had ~1000 pictures on their iPhone and that therefore the 16 GB iPhone is useless. I couldn't tell though because the comment made no sense.

[–]shunt31 4ポイント5ポイント  (0子コメント)

Yeah, that makes no sense.

Did you read that article? It's pretty scary, coming as it is directly from GCHQ presentations.

[–]wumbotarianmodeled as if Noah Smith was a can opener 2ポイント3ポイント  (2子コメント)

Moved into my new place. I'm eating breakfast on my deck, watching the sun rise. It's nice.

[–]bdubs91Maestro Today and Maestro Forever 0ポイント1ポイント  (1子コメント)

Welcome to adult life! Much adulting is had here.

[–]wumbotarianmodeled as if Noah Smith was a can opener 0ポイント1ポイント  (0子コメント)

I'm not where I want to be, ideally, in life but this is pretty nice so far.

[–]shunt31 2ポイント3ポイント  (0子コメント)

First?

[–]MrDannyOcean 1ポイント2ポイント  (1子コメント)

I'd like to get a feeling for whether this question has a consensus:

With a rate hike on the horizon from the Fed, how important/not important is the timing? Maybe scale of 1-10. Is it important in the medium-to-long term to actually get the timing precisely right, or will anything in a 6 month window basically function the same way?

I see a lot of virtual ink spilled about how now is the time and waiting is bad, or now is too soon and wait until december, etc. Does that actually make a difference?

[–]iamelbenIn the long run, we're all /u/Integralds anyway... 2ポイント3ポイント  (0子コメント)

Well see, the tricky thing is that inflationary expectations are important for short-term monetary policy in that inflationary expectations affect real interest rates. If inflationary expectations adjust quickly and correctly to changes in monetary policy, real interest rates are not changed by monetary policy and the policy has no effect.

So timing is pretty important, especially if prolonged prognostication allows inflationary expectations to catch up with actual policy.

[–]_Rory_It's-a-me, Mario Draghi 1ポイント2ポイント  (2子コメント)

Today I have to read an Akerlof paper on cognitive dissonance, make notes on a Card (1990?) paper on Cuban immigration in Miami, learn a bit about Edgeworth boxes, review some statistics notes, and study for an exam I'm taking outside of college.

This is not going to be a good day.

[–]urnbabyurnNeoPanglossian 0ポイント1ポイント  (1子コメント)

It's a decent paper. https://www.iei.liu.se/nek/730A17/artiklar/1.284974/Akerlof-Dickens.pdf

[–]_Rory_It's-a-me, Mario Draghi 0ポイント1ポイント  (0子コメント)

I liked the Card one, but I have to actually write about that, it's sufficient that I understand the Akerlof one, so not so bad.

[–]prillin101Fiat currency has a 27 year lifespan 1ポイント2ポイント  (0子コメント)

I read a study published in AEA about how the Nords have a high workforce participation rate even with a high taxes, and one page talked about how worker compliments like free daycare boost workforce participation more than money transfers like the EITC. They also showed like 3-4 studies that affirmed this, are they right?

[–]bdubs91Maestro Today and Maestro Forever 1ポイント2ポイント  (0子コメント)

Been reading the paper on Prescott's nobel lecture. Dat moment when C7A1's criticism comes in. Prescott even notes that different groups have different labor elasticity! One just needs to connect the dots here!

Edit: it goes without saying that RBC was a methodological improvement over the system of equation models previous.

[–]commentsrusBring maymayday back! 1ポイント2ポイント  (4子コメント)

People are waking up and realizing that /r/PraxAcceptance is serious. /r/badsocialscience got mad about our mandatory petition.

Your days are numbered, /r/badstimulus. We have more posts than you. We have recruited top reddit economists like /u/besttrousers and /u/urnbabyurn. We are the Stanford of the reddit econosphere, beating gaynesians at the academic game, except we are not shills for silicon Valley.

[–]bdubs91Maestro Today and Maestro Forever 0ポイント1ポイント  (1子コメント)

Long have we waged war on eCONomists. Now we need to expand and begin a war with the Soci-LOL-gists and anthrop-LOL-ogists. Soon these statists will know that truth about reality cannot be learned by observing it.

[–]commentsrusBring maymayday back! 0ポイント1ポイント  (0子コメント)

I've sent expeditionary forces into /r/badsocialscience to keep watch for any opportunities for us to brigade strategic threads about marx or empirICKS. Considering what sub it is we shouldn't have to wait more than a day or so.

Occasionally the sociology and anthro subs get into fights about methodology or economics. Keep an eye out.

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 0ポイント1ポイント  (1子コメント)

That's not fair. After a long day of praxxing it out, I really enjoy coming to /r/bad economics to troll.

[–]commentsrusBring maymayday back! 0ポイント1ポイント  (0子コメント)

Oh really. How many BE posts have you made in the last week? No wait, you can't say because you were the staunchest opponent of using numbers, numerals, or any words denoting precise quantities on PraxAcceptance! You refute yourself, keynes