all 63 comments

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 6 points7 points  (3 children)

Today's game:

Take this quiz. Can you guess which social programs are effective/ineffective?

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 1 point2 points  (2 children)

My results: 6/10. Pretty bad, considering I'm familiar with at least 3 of the studies.

[–]iamelbenMalthusian Enthusiast 1 point2 points  (1 child)

9 here. Some of the stuff is pretty consistent with perspectives I picked up in my Community Psych class. Some of it is DEFINITELY counter-intuitive, though.

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 0 points1 point  (0 children)

Nice! I need more social psych.

[–]IntegraldsI am the rep agent AMA 4 points5 points  (1 child)

Today's paper: "Alcohol Exposure In Utero and Child Academic Achievement," 2014 EJ. Ungated version.

We examine the effect of alcohol exposure in utero on child academic achievement. As well as studying the effect of any alcohol exposure, we investigate the effect of the dose, pattern, and duration of exposure. We use a genetic variant in the maternal alcohol-metabolism gene ADH1B as an instrument for alcohol exposure, whilst controlling for the child's genotype on the same variant. We show that the instrument is unrelated to an extensive range of maternal and paternal characteristics and behaviours. OLS regressions suggest an ambiguous association between alcohol exposure in utero and children's academic attainment, but there is a strong social gradient in maternal drinking, with mothers in higher socio-economic groups more likely to drink. In stark contrast to the OLS, the IV estimates show negative effects of prenatal alcohol exposure on child educational attainment. These results are very robust to an extensive set of model specifications. In addition, we show that that the effects are solely driven by the maternal genotype, with no impact of the child's genotype.

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 0 points1 point  (0 children)

Oster responded on facebook:

https://www.facebook.com/profemilyoster/posts/533329066786412


Highlights:

The study focuses on estimating the impact of alcohol measured by exposure units per week, duration of exposure or binge drinking. As the authors note (conclusion, page 30), the study is unable to say anything clear about low to moderate drinking. The range of consumption in the study is up to 35 drinks a week with a reasonable share of the population reporting binge drinking.

Estimating the impact of a continuous measure of alcohol units in this setting cannot be interpreted as the impact of moving from abstaining to a small number, as it is likely to be at least partially driven by increases at the higher levels. Moreover, the estimated impact of “Any Alcohol” in this setup will also be driven by the impacts of heavy and binge drinking and cannot be interpreted as the impact of light drinking.

To look at the issue of moderate drinking, one would want to limit the sample to women who abstain or drinking in moderation (including eliminating binge drinkers), and then preform the analysis on them. The authors report a version of this in Figure 3, although they do not exclude binge drinkers. The estimates are very noisy (first stages are not reported to is it hard to get a sense of the precision of the instrument here) and even in the 11-15 drinks per week group or 16+ drinks they cannot reject zero. This is certainly not to say that the results suggest low alcohol intact has no impacts, just that this study is not equipped to comment on that.

[–]13104598210I help banks get free monies 4 points5 points  (3 children)

THE ECONOMY IS A PONZI SCHEME

JANET YELLEN IS A NAZI

OUR CURRENCY IS A LIE

[–]neshalchanderman 1 point2 points  (2 children)

OUR CURRENCY IS A LIE

But there is cake... right?

[–]say_wot_againConfirmed for Google bigwig 0 points1 point  (1 child)

Worthless government fiat cake.

[–]EveRommel 0 points1 point  (0 children)

Thats the best kind

[–]EveRommel 4 points5 points  (7 children)

Do anyone have a good paper to explain government debt to the "GOVMET GOIN BROKE" type Austrians?

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 5 points6 points  (5 children)

The best response is:

"Unplugging the computer and taking a walk" (2015).

[–]urnbabyurnNeoPanglossian 1 point2 points  (1 child)

Or switch to angry alt.

my secret is that this is the angry alt.

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 2 points3 points  (0 children)

[–]EveRommel 0 points1 point  (2 children)

Damn you and your cool logical responses.

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 1 point2 points  (1 child)

If only I practiced what I preached....

[–]EveRommel 0 points1 point  (0 children)

Its so hard when its such a simple concept that is pretty important to a large audiance but its so hard to explain to anyone. I was trying today and hit the "FED IS EVIL HITLER LIZARD PEOPLE" wall and I just had to sag my head sigh

[–]BMRMikePeople are towns[S] 3 points4 points  (0 children)

Alcohol Exposure In Utero and Child Academic Achievement

[–]urnbabyurnNeoPanglossian 4 points5 points  (15 children)

I'm surprised we didn't make an appearance on SRD after that ditty of a post I woke up to. Some bans have been issued.

[–]somegurkWhy doesn't modern medicine use more leaches? 4 points5 points  (12 children)

hmmm what did I miss? apart from easy SRD link karma

[–]urnbabyurnNeoPanglossian 4 points5 points  (10 children)

[–]somegurkWhy doesn't modern medicine use more leaches? 3 points4 points  (0 children)

well shit.

[–]wyman856I think, therefore I am a horse 2 points3 points  (2 children)

Hey, that's the same user who talked shit about my unborn children and told another user he should deport himself back to his native African country even though he has lived in the U.S. for practically his entire life.

Needless to say I am shocked.

[–]urnbabyurnNeoPanglossian 2 points3 points  (0 children)

Shit, I wish I had seen that stuff sooner. I knew some racist shit was growing on but never saw it directly. I'm glad that ban was placed then.

[–]Llan79 1 point2 points  (0 children)

She also posted something in the thread about African countries failing to develop that was deleted for being racist. I didn't see what it was though

[–]Jericho_Hill 0 points1 point  (0 children)

i wish i could see the undeleted version, if just for a second

[–]Jericho_Hill 0 points1 point  (0 children)

oh i figured out how to see it!

[–]Jericho_Hill 0 points1 point  (3 children)

except i cannot see the first original post

[–]urnbabyurnNeoPanglossian 0 points1 point  (2 children)

Enjoy - especially since you are specifically mentioned for some reason

Recently, a lot of people have found it to be fun to come to my face and explain how much they don't like me. Even the moderator wumbo, who was reported to his superior with evidence when it was asked for. I would like to take this brief time before my post is removed to point out the report and downvote function. Please utilize them. I don't want your drama in my inbox, and any snide comments about my character will be promptly ignored from now on. If you don't like something I say, please report and downvote I don't come here to make friends and I don't want you to like me. I come here for learning purposes. I don't want to hear it. If you want me gone from your community, take the appropriate steps. Telling me isn't going to help you. Report and downvote, report and downvote This is your slogan. Like I said to JHill, you are welcome to talk about me, even on the forum but not to my inbox. Reply to another persons comment to have the conversation, tyvm. I see 2 people archived this. As predicted. :) I have contributed all that is necessary. Please look at the archive if you want to read. I will leave the OP up until a moderator deletes. Thank you.

[–]Jericho_Hill 0 points1 point  (0 children)

you my BAE

[–]Jericho_Hill 0 points1 point  (0 children)

I called her out on her bullshit when she said something nasty about HC3's wife. I dont know if HC3 has a wife, a husband, kids , or dog, but it just wasnt something decent folk should ever say

[–]Homeboy_JesusCogito ergo sum equus 1 point2 points  (0 children)

Long story short:

User whines about their street cred on /r/badeconomics, loses more street cred.

[–]iamelbenMalthusian Enthusiast 0 points1 point  (1 child)

OP of that is literally crazy.

If I can save one person from psychology, I've done good in my life.

HFS.

[–]urnbabyurnNeoPanglossian 0 points1 point  (0 children)

Yeah, it started going anti psychology really fast after people pointed out the apparent Histrionic Disorder. It could also be pathological narcissism.

[–]Petros557there is no such thing as a market failure 3 points4 points  (0 children)

great presentation on why the free market can solve the discussion thread quantity problem. amen.

[–]Homeboy_JesusCogito ergo sum equus 2 points3 points  (2 children)

How about changing the AotW over at /r/economics, eh?

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 3 points4 points  (1 child)

GET YOUR ACT TOGETHE MODS

[–]Homeboy_JesusCogito ergo sum equus 0 points1 point  (0 children)

Mod failure across the board. Something something central planning nazis.

[–]KEM10le STEM (up until it breaks my bias) 2 points3 points  (0 children)

I found an actual "humans are horses" in the wild. I didn't believe people would actually say this shit, but here it is.

I'd make it a real post but the R1 is just "Humans aren't horses" and I think the Wub is against such silliness.

[–]jajakes 1 point2 points  (0 children)

Does anybody have a decent set of links on the current state of the literature on the effectiveness of economic sanctions?

Most of what Google Scholar shows me is at least fifteen years old -- and most of it significantly older. Surely there've been some advancements in the last seventh of a century

[–]Lambchops_Legion 1 point2 points  (0 children)

I marathoned the show "Humans" over the weekend. Really good show - I recommend for anyone who liked Utopia. Although, the doctor is the one who realizes how the synths complement as opposed to substitute.

I can see now why there are a lot more "automation = we're doomed!" posts recently.

[–]urnbabyurnNeoPanglossian 0 points1 point  (3 children)

Fine, I'll sticky this.

[–]say_wot_againConfirmed for Google bigwig 0 points1 point  (1 child)

But the automod comes out in, like, 4 hours!

[–]urnbabyurnNeoPanglossian 0 points1 point  (0 children)

There is now a fixed supply of two stickies.

[–]SenorFluffyThe Invisible Foot 1 point2 points  (8 children)

I know a lot of people didn't like the question day, but I think having one like once a month would be good. If we complain about bad economics then we should have some outlet for redditors to ask questions and learn to not be so stupid wrt economics.

[–]BMRMikePeople are towns[S] 5 points6 points  (6 children)

A question only sticky would be a better alternative methinks.

The main problem is that questions in stickies get washed out by the wank fest

[–]SenorFluffyThe Invisible Foot 0 points1 point  (4 children)

I agree. And the stickies have problem where a lot of the later stuff would never get seen. It seemed liked part of the problem was regular users just posting funny questions which got more attention than the actual questions. I liked the idea and once a month seems fair to not over run the sub IMO

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 1 point2 points  (3 children)

I still think people aren't thinking about the labor supply of 'reddit economists'.

Answering questions (especially the same questions you've answered before) is 1.) labor intensive 2.) pretty boring. The more RIV violations, the less experts will find this a fun place to hang out.

[–]BMRMikePeople are towns[S] 1 point2 points  (0 children)

Maybe a wiki/FAQ? Whatever happened to the experts write up

But I agree, only badecon posts, no question bullshit

[–]SenorFluffyThe Invisible Foot 0 points1 point  (1 child)

That's fair. I totally understand. It can be a bit tiring to teach during the day and come online and teach there too. But there's no real outlet in other subreddits to ask questions. However, if people don't want to answer questions in a sticky or during one day of the month, then they could always stay away from a day?

Edit: that being said, if people really don't want it, that's fair too. I don't particularly care one way or the other

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 1 point2 points  (0 children)

But there's no real outlet in other subreddits to ask questions.

/r/asksocialscience !

Here's my model of how /r/badeconomics can best contribute to furthering knowledge:

1.) RI 2.) Making a place for 'reddit economists' to hang out, and provide knowledge as a 'spillover'.


I don't think question days actually result in more answers.

[–]KEM10le STEM (up until it breaks my bias) 0 points1 point  (0 children)

What could also help is if you set it up to sort by new. I know it's possible because /r/homebrewing and all game day threads do that.

[–]somegurkWhy doesn't modern medicine use more leaches? 0 points1 point  (0 children)

Well the way I see it learning something is a possibility on this sub but not its purpose, mods and rules aren't set up for it. /r/asksocialscience is decent and I'm sure if you put economics in the question someone will answer you. They have more mods and require sources in top level comments. So I think it's better to encourage people to ask questions there and also encourage subs here to check it out to see if they can contribute to answers.

[–]wumbotarianI want to be the Walrasian Auctioneer when I grow up 0 points1 point  (1 child)

[–]wumbotarianI want to be the Walrasian Auctioneer when I grow up 0 points1 point  (0 children)

[–]neshalchanderman 0 points1 point  (0 children)

This article on plausibility stayed on my reading list for a long while but the wait was worth it.

A neat methodological tool that's worth a look: http://archive.cspo.org/projects/plausibility/files/read_Weimer-Jehle-Cross-impact-balances.pdf

[–]urnbabyurnNeoPanglossian 0 points1 point  (0 children)

I got a rejection the other week with two referee reports by people who seemed to completely not understand the paper or the model, or even be familiar with agency theory. Fuck that journal.

[–]wyman856I think, therefore I am a horse 0 points1 point  (0 children)

I see I am being downvoted for making this comment and I would like to clarify a few things.

For me, personally FDR is, much like the New Deal, a mixed bag. I don't agree with everything he did, in fact, I despise much of it, but I also do agree with the intent at least with a large chunk of his actions.

First of all, I am vehemently opposed to how FDR locked up over 100,000 Americans without due process because they happened to have Japanese or German ancestry. This also seems to be swept under the rug for one reason or the other. I know it wasn't emphasized during my education and for all the talk of remissions you often hear from progressives, I do not feel the families who endured such tragedy were anywhere nearly compensated close enough.

A second huge knock for me was the Agricultural Adjustment Act of 1933, which I frankly never see discussed (and here is being downvoted rather than discussed). I admittedly haven't done a full research paper or anything like that on this topic, but my gut instinct from my prior research is subsidizing farmers to not grow and actively destroy their food goods is a tragic policy to have at a time people are struggling to put food on the table. It screams to me as a policy whose aim is to serve by and large the industrial farmers/food processors who would benefit from the subsidies and increase in the prices of their goods.

A third knock for me was the massive price controlling efforts that were undertaken by the NRA. Mass cartelization under threat of government enforcement and imprisonment (though that rarely happened) looks an awful lot like fascism. Literally.

Now, in terms of things I think he did remarkably well, I think his approach to calming the nation, namely his radio presence and banking holiday, deserve more credit than I think they receive for helping ease the initial depression.

I am less familiar with his WWII work (aside from imprisoning Americans), but my understanding is he was a great leader in that department beyond the typical American fetishism.

Additionally, though I think many of the welfare programs he instituted are not adequately efficient at addressing the very real concerns of poverty, I will at least applaud his effort here and steering the national discussion in probably the right direction.

So yeah, in my eyes, he's severely overrated, but I think he is also massively underrated by conservatives/libertarians. Certainly not the 2nd worst president of all time and far from the worst president of the past century (Wilson/Nixon anyone?). He's not making my list of favorites anytime soon, though.

Beyond that, any thoughts on the AAA in general anyone?

[–]PonderayFollows an AR(1) process 1 point2 points  (3 children)

We need the mod monopoly on discussion stickies. Otherwise we'll get sticky hyper inflation.

[–]urnbabyurnNeoPanglossian 0 points1 point  (2 children)

We've had Cuba as a case study for 50 years. No need to update.

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 0 points1 point  (1 child)

The old paradigms don't account for the radical changes the new crypto-stickies imply.

[–]iamelbenMalthusian Enthusiast 0 points1 point  (0 children)

Sticky-mining is incredibly lucrative. No need for fiat stickies anymore. We can do better.