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Weekend Sticky (self.badeconomics)

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

Here's a sticky for the weekend. Let's try not to do 200+ comments in under 24 hours this time.

Go outside. Drink some coffee at a cafe and talk with friends. Eat a baguette. Just go to France, I guess.

MetaCog wanted to do an R1 competition. So do that here I guess.

PM me your Polynesian pygmy anteaters.

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[–]CatFortune 1ポイント2ポイント  (1子コメント)

How cool would it be if we did a demographics survey? I love filling out surveys. Plus, I have a theory that every single person who comes to this subreddit is a dude.

[–]wumbotarianI want to be the Walrasian Auctioneer when I grow up[S] 1ポイント2ポイント  (0子コメント)

I did too, but I found out recently we have a gril among us.

[–]Dirk_McAwesomeI am the hypothetical monopolist. AMA 0ポイント1ポイント  (0子コメント)

First!

[–]NewMerril 0ポイント1ポイント  (0子コメント)

Eat a waffle or go to Belgium. I'm told that both are pretty much the same thing.

Suck it Belgium: you're the victim of a bad joke on the Internet and there's nothing you can do about it.

[–]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)

Since /u/Integralds didn't do a paper/drink/music for Friday night, I give you this picture I saw on Facebook.

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

So I got a bunch of comments on the /r/economics sticky thread.

What if we did it on alternate days as /r/badeconomics? Could that help resolve the too many comments crisis we are experiencing?

[–]IntegraldsI am the rep agent AMA 0ポイント1ポイント  (0子コメント)

I'll do music and a paper today, /u/wumbotarian!

The song is G-Beat in honor of the third season of Symphogear.

The paper is an oldie but goodie: Romer and Romer, "What Ends Recessions?" Read it, and read Cochrane's comments. For some reason, Cochrane was the discussant for basically every Romer and Romer paper from 1989 to 2004.

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

Guys, you absolutely have to read this blog post by some lefty called Another Angry Voice from up north in England. Preparation: in a lot of his posts, he compares "neoliberals" to Nazis. Anyway, the post is on speculation and how the current economy "isn't really capitalist".

http://anotherangryvoice.blogspot.co.uk/2015/07/the-delusion-that-modern-economy-is.html

Tagging /u/Wumbotarian, /u/besttrousers and /u/Integralds just because I think they'd appreciate it the most.

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

Anyone who thinks that the modern economy is a capitalist one is simply betraying the fact that they either have a faulty understanding of the modern economy, or that they're unfamiliar with the actual definition of capitalism (perhaps using the word as a loose synonym for distinct concepts like "business" or "trade").

I don't know what the "actual definition" is. I always just think about it as the owners of capital being the marginal claimant on production.