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Wednesday Sticky - 7/15/15. (self.badeconomics)

wumbotarianI want to be the Walrasian Auctioneer when I grow up[M] が 投稿 - stickied post

New sticky for wednesdays. I don't know how to program the automod to do M/W/F stickies. I'll figure that out eventually.

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トップ新着論争中古い順Q&A

[–]HealthcareEconomist3Krugman Triggers Me 8ポイント9ポイント  (20子コメント)

You are visited by an alien race who demand you must kill an entire occupational classification otherwise they will destroy the planet. Which one do you choose and why?

[–]haalidoodiOn second thought, let's not go to r/econ. It is a silly place. 13ポイント14ポイント  (4子コメント)

Just let them destroy the planet. The stimulative effect from having to rebuild literally everything should just about fix our economy forever.

EDIT: I ran the calculations through our system. Assuming that it took about 2 billion years for the Earth to fully form, approximately 3.5 billion years for humans to evolve and a further, say, 40,000 to create modern civilization, I estimate that we can guarantee full employment for about 5.50004 billion years. Now that's efficiency!

[–]commentsrusBring maymayday back! 5ポイント6ポイント  (1子コメント)

http://i.imgur.com/lXgCzwd.jpg

[–]basilect40% of economics is dental hygiene 2ポイント3ポイント  (1子コメント)

☐ not praxd

☑ praxd

[–]haalidoodiOn second thought, let's not go to r/econ. It is a silly place. 1ポイント2ポイント  (0子コメント)

☑ Praxasaurus Rex

☑PraxBox 360

☑Harry Potter: The Half-Praxed Prince

☑ Rock Paper Prax

☑ Cash4Prax.com

☑ 12 Years a Prax

☑ The Usual SusPrax

☑ Prax Fiction

☑ The Good, The Bad and the Prax'd

☑ Prax to the Future

[–]Fallline048 3ポイント4ポイント  (4子コメント)

53-6031 Gas Pump Attendants. Specifically in full-service states. I can pump my own gas and don't need my time wasted while you try to fill 3 cars at once and yell at me when I try to exit my vehicle, then expect a tip for the inconvenience.

[–]commentsrusBring maymayday back! 3ポイント4ポイント  (0子コメント)

You'll set yourself on fire, kid.

[–]haalidoodiOn second thought, let's not go to r/econ. It is a silly place. 1ポイント2ポイント  (2子コメント)

I've spent most of my life in Michigan. Is this still a think in some places? I can't say I've ever seen gas pump attendants outside of 40's noir films and possibly some Keaton comedies.

[–]wyman856People are horses 2ポイント3ポイント  (0子コメント)

As far as I know, New Jersey and Oregon are the only two states in the U.S. that continue full-service, mainly because their attendants unionized and successfully lobbied for making/keeping self service illegal back in the day.

[–]xorchidsExpert at economics I know what bitcoins are 2ポイント3ポイント  (0子コメント)

Yeah, I know it is in NJ. Like /u/fallline048 said you can't leave your car, and they usually wait like a dumbfounded idiot waiting for you to tip them.

I don't mind. Service is speedy and dirt cheap compared to my home state.

NJ is a really weird state. You can get a ticket for friggen breathing. Lots of weird laws.

[–]UltSomnia 3ポイント4ポイント  (0子コメント)

Obviously healthcare economists.

[–]alexhoyerhoard plywood now for our ANCAP overlords 2ポイント3ポイント  (1子コメント)

Art critics. Fuck them, if it's so easy they should do it.

[–]haalidoodiOn second thought, let's not go to r/econ. It is a silly place. 2ポイント3ポイント  (0子コメント)

I went with a friend to the DIA recently and they were loudly complaining about the quality of some colonial-era furniture on display in the American art section. Do they count?

[–]deathpigeonxPart of the 1% (who have actually read Piketty) 1ポイント2ポイント  (0子コメント)

People who's job is to kill an entire occupational classification.

[–]Meta-Cognition"Neoclassical Bernankean shill" 1ポイント2ポイント  (2子コメント)

Modern artists.

Fuck off. Friedrich's Wanderer Above the Sea of Fog and Raphael's School of Athens are all you need.

EDIT: I'd also get rid of the people like Euripides, who bastardised tragedy with their fucking Socratic rationalism. But unless they're time-travelling aliens. . .

[–]Babahoyo 2ポイント3ポイント  (1子コメント)

fucking neoclassicist.

[–]Meta-Cognition"Neoclassical Bernankean shill" 1ポイント2ポイント  (0子コメント)

It all went downhill with Van Gogh and his shitty impressionism.

[–]k4rter 1ポイント2ポイント  (0子コメント)

car dealers, let Tesla sell those cars directly.

[–]irondeepbicycleI got 99 problems but technological unemployment ain't one 1ポイント2ポイント  (0子コメント)

Bail bondsmen? Maybe it forces changes to our bail system?

[–]commentsrusBring maymayday back! 5ポイント6ポイント  (0子コメント)

Prediction: 120 comments in 6 hours

[–]k4rter 4ポイント5ポイント  (1子コメント)

will Krugman be happy?

[–]deathpigeonxPart of the 1% (who have actually read Piketty) 3ポイント4ポイント  (0子コメント)

I leave Krugman at the foot of the mountain. One always finds one's burden again. But Krugman teaches the higher fidelity that negates the gods and raises rocks. He too concludes that all is well. This universe henceforth without a master seems to him neither sterile nor futile. Each atom of that stone, each mineral flake of that night-filled mountain, in itself, forms a world. The struggle itself toward the heights is enough to fill a man's heart. One must imagine Krugman happy.

[–]IntegraldsI am the rep agent AMA 5ポイント6ポイント  (13子コメント)

We've done taxes and subsidies, what about expenditures?

  • An expenditure category or program that should receive more funding.
  • An expenditure category or program that should receive less funding.
  • An expenditure category or program that is receiving about the right amount of funding.
  • A new expenditure category or program.
  • An expenditure category or program that should be eliminated.

I'm using "expenditure category or program" to be as broad as possible. "NASA" counts. "Defense" counts, as do subsets like "CIA" or "the F-35" or "$3,000 screwdrivers." "Health spending" counts, as do subsets of health like "Medicare" or "Medicare Part D" or "Medicare prescription drugs."

You may not answer "waste, fraud, and abuse," because that's lame.

[–]commentsrusBring maymayday back! 4ポイント5ポイント  (0子コメント)

An expenditure category or program that should be eliminated.

The government. QED.

[–]Meta-Cognition"Neoclassical Bernankean shill" 1ポイント2ポイント  (9子コメント)

More funding: R&D. (I'm not sure about the budget for the likes of the NSA, but from what I hear there's quite a significant technological lag in the intelligence services at the moment, so I wouldn't mind increased funding their either to be honest. . . Will Wumbo kill me for that, being a libertarian and all?).

Less funding: The prison system.

Right amount of funding: Defence (although you could allocate the existing budget a bit better).

New expenditure: NGDP futures market ( ͡° ͜ʖ ͡°)

Eliminated: Social security.

Of course, all of these come with caveats of complimentary policies.

[–]Babahoyo 1ポイント2ポイント  (5子コメント)

funding prisons less will probably just make prison conditions worse, rather than make our country sentence fewer people for shorter sentences like we should.

[–]Meta-Cognition"Neoclassical Bernankean shill" 1ポイント2ポイント  (4子コメント)

I'd rather see drugs legalised/regulated and more effort placed into rehabilitation before we begin to cut prison funding. Prisons really ought to be holding pens for the ~50pc of violent criminals who can't be rehabilitated.

And maybe as a deterrent/punishment for shit like white collar crime, because I have no idea how you'd even begin to rehabilitate those people.

[–]Babahoyo 2ポイント3ポイント  (3子コメント)

I'd rather see we properly fund our public defense system, our mental health system, and use funds that go into over-militant policing to go to community outreach and reentry programs. Then I'd like to see sentencing guidelines overhauled entirely so programs like parole can actually be used as an alternative punishment instead of an extra year or two on a really long sentence. In fact, i'd like to cut all prison sentences down by at least half, considering the fact that people age out of crimes and that we are way past the point of where marginal costs intersect with marginal benefits. I'd also ban the death penalty and solitary confinement.

[–]Meta-Cognition"Neoclassical Bernankean shill" 1ポイント2ポイント  (2子コメント)

In fact, i'd like to cut all prison sentences down by at least half

Oh, I could definitely get behind that. I'd rather follow Norway's example and set the maximum limit at 21 years, subject to potential extension. Even the most psychopathic violent criminals "age out of crime", as you say.

I'd also ban the death penalty and solitary confinement.

I'm with you on solitary, not so sure about the death penalty. I tend to think it's an appropriate punishment for terrorists.

[–]Babahoyo 1ポイント2ポイント  (1子コメント)

turning them into martyrs?

Even beyond that, I just don't like it.

[–]Meta-Cognition"Neoclassical Bernankean shill" 1ポイント2ポイント  (0子コメント)

turning them into martyrs?

I really don't buy that argument. You can't not make martyrs for these people; al-Qaeda never forgave the West for not allowing Indonesia to commit a genocide in East Timor. If you can't get that past them, you can't address their grievances with anything short of capitulation to their toxic theo-cultural-moral vision.

I'm still waiting for the thousands of bin Ladens that were supposed to pop up too, once we'd killed the original.

[–]MildlyEoghanDon't Prax Me, Bro! 1ポイント2ポイント  (2子コメント)

No social security and a defunded prison system; that would be hilariously tragic to watch.

[–]Meta-Cognition"Neoclassical Bernankean shill" 1ポイント2ポイント  (1子コメント)

No social security and a defunded prison system

Ahem:

Of course, all of these come with caveats

I don't want to implement any of those things immediately. Although it would be mildly interesting to watch.

[–]MildlyEoghanDon't Prax Me, Bro! 2ポイント3ポイント  (0子コメント)

Although it would be mildly interesting to watch.

Reality television would be much more entertaining.

[–]MildlyEoghanDon't Prax Me, Bro! 1ポイント2ポイント  (0子コメント)

  1. Third level education
  2. Unemployment activation programs (excluding education)
  3. No idea, probably a lot of them
  4. Social welfare reform and monitoring program
  5. Child benefit, in its current form, various pension entitlements

[–]HealthcareEconomist3Krugman Triggers Me 2ポイント3ポイント  (0子コメント)

An expenditure category or program that should receive more funding.

ACF, particularly Head Start.

An expenditure category or program that should receive less funding.

Everything that's related to retirees, particularly healthcare. Its disappointing that so little of the inequality rhetoric focuses on the insanely regressive public retirement system.

An expenditure category or program that is receiving about the right amount of funding.

Other then congress constantly stealing funds from FAA's NextGen air transport in general receives the right amount of funding.

A new expenditure category or program.

NIT.

An expenditure category or program that should be eliminated.

NASA. Redirect all the funding to the NSF.

No funding for manned spaceflight out of earth orbit, extremely limited funding for manned spaceflight in earth orbit.

[–]wyman856People are horses 3ポイント4ポイント  (2子コメント)

I found this piece via Tyler Cowen on the relationship between Milton Friedman and Paul Samuelson, "The Rivals."

It has a great deal of meta-economics history and is a really well-done piece overall.

[–]IntegraldsI am the rep agent AMA 3ポイント4ポイント  (1子コメント)

I read that too quickly, as "I found this place via Tyler Cowen," and thought we'd hit the big leagues with a link from MR.

[–]wyman856People are horses 1ポイント2ポイント  (0子コメント)

If only. Maybe if we started collecting our best economics-related food recipes he will be forced to take notice and visit.

[–]Babahoyo 1ポイント2ポイント  (5子コメント)

[http://opinionator.blogs.nytimes.com/2015/07/14/what-economics-can-and-cant-do/?action=click&pgtype=Homepage&module=opinion-c-col-right-region&region=opinion-c-col-right-region&WT.nav=opinion-c-col-right-region](What Economics Can -and Can’t- Do)

This article is pretty interesting, it'll probably end up on this sub some point in the next few hours. I would do an R1 but idk what i would say. Overall I think its a good piece, but would obviously have liked them interview an economist instead of a philosopher of economics.

[–]ivansmlhotshot with a theory 2ポイント3ポイント  (1子コメント)

This is a surprisingly good article. Yes, economics often cannot offer definitive conclusions, but providing informed arguments about pros/cons of various policies is still valuable in itself.

[–]Babahoyo 1ポイント2ポイント  (0子コメント)

I like the idea of economics as serving to force people to ask the right normative questions, which the philosopher articulates nicely.

[–]MildlyEoghanDon't Prax Me, Bro! 1ポイント2ポイント  (2子コメント)

I think philosophers and heterodox/political economists feel unhappy with the monopoly on the mainstream that "mainstream" economics has had ever since the marginalist revolution.

[–]Babahoyo 1ポイント2ポイント  (1子コメント)

Should they feel unhappy?

[–]MildlyEoghanDon't Prax Me, Bro! 1ポイント2ポイント  (0子コメント)

Dunno, they're still around so clearly there's something in it for them.

[–]SoyElGoddamnBatmanI don't really know anything, honestly 1ポイント2ポイント  (1子コメント)

What do you guys think are the best subs for learning about other topics? BE is my spot, but sometimes I want to learn about other stuff too.

[–]alexhoyerhoard plywood now for our ANCAP overlords 1ポイント2ポイント  (0子コメント)

/r/asksocialscience is good if you're looking for a broader purview.

[–]wumbotarianI want to be the Walrasian Auctioneer when I grow up[S] 1ポイント2ポイント  (3子コメント)

Someone reported a comment of mine because I broke Rule III.

I kek'd

[–]basilect40% of economics is dental hygiene 2ポイント3ポイント  (0子コメント)

kekxico

[–]JPelter 2ポイント3ポイント  (1子コメント)

Lol.

That was me.

I couldn't resist.

[–]wumbotarianI want to be the Walrasian Auctioneer when I grow up[S] 0ポイント1ポイント  (0子コメント)

You're the best, A+.

[–]bigkr88 1ポイント2ポイント  (3子コメント)

Everyone, I propose a game. Fix the Greek crisis/elongated death spiral in one sentence. Most upvotes wins a cookie.

[–]BUTWHYNOTZOIDBERGTranscedential Virgo Trotskyist 1ポイント2ポイント  (0子コメント)

Rename country to Greeece.

[–]deathpigeonxPart of the 1% (who have actually read Piketty) 0ポイント1ポイント  (0子コメント)

Playing a little game of global thermonuclear war. That would get our minds off of Greece.

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

1.) Break all windows in the country.

2.) Enjoy economic recovery fueled by exploding glassfitting sector.

3.) Repeat as needed.

[–]prillin101 0ポイント1ポイント  (0子コメント)

Why haven't wages kept up with productivity? I'm not one to blame greed or rich people taking the money and running, but I do have that one question.

Why haven't they kept up with it? I've also read that people are now only receiving 1/5 the wages they did pre-recession, why is that?

Thanks for any answers.