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BadEconomics Discussion Thread, 31 July 2015 (self.badeconomics)

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Welcome to the automated Discussion Thread for the week.

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

[–]___OccamsChainsaw___I love endogenous expectations. They're so bad. 5ポイント6ポイント  (0子コメント)

I feel like there are some coordination problems going on here.

[–]BaratheonEconomistMeta-Cognition 1ポイント2ポイント  (0子コメント)

Just how much is Stiglitz a fucking shill?

Also, I feel the need to share a minor triumph of mine. I'm usually terrible at overcoming my aversion to work of some kind (the opportunity cost of not sitting on my fat ass watching netflix and drinking whiskey is too high), but I've figured a way around it. On another forum I visit, I've started doing an "Econ paper of the day" thing where each day I read through a paper on Integralds undergrad list, post it and summarise its conclusions. Actually pretty effective.

[–]OMG_TRIGGER_WARNING 0ポイント1ポイント  (2子コメント)

If technology decreases the MP of Labor, thus decreasing wages isn't it possible for it to increase voluntary unemployment in the long run?

[–]say_wot_againConfirmed for Google bigwig 1ポイント2ポイント  (0子コメント)

How are you defining "voluntary unemployment"?

[–]BaratheonEconomistMeta-Cognition 0ポイント1ポイント  (0子コメント)

If technology decreases the MP of Labor

It doesn't; if anything, increased automation heightens labour demand. It makes workers more productive (do you think we could only have 2pc of the population working in agriculture were it not for severe mechanisation?); technology is a complement to, not a substitute of, human labour.

While it doesn't decrease wages, however, there are legitimate concerns about income inequality as technology makes some workers more productive than others. Unskilled labour could see a stagnation in wages as a result.

[–]UltSomnia 0ポイント1ポイント  (2子コメント)

All right, since no one is gonna look into this discussion thread, can we discuss shilling? I'd like some spare income so I was wondering if you guys could hook me up with some good shilling employers. I know TPP shilling has been paying well for the last few weeks, but is that still hot or is there another issue you guys are getting paid for now? Thank you.

[–]say_wot_againConfirmed for Google bigwig 0ポイント1ポイント  (1子コメント)

Shill for Solow with me!

[–]UltSomnia 0ポイント1ポイント  (0子コメント)

What's the starting pay?