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Ask BadEconomics: End of Weekend Discussion Thread, 23 August 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

[–]digitalnostalgia 3ポイント4ポイント  (1子コメント)

Does anyone here have any experience of doing an undergraduate degree that wasn't single honours economics and then going on to do graduate study (and afterwards, research) in economics? I'm just curious to hear about whether you had any difficulties and what it was like in general.

[–]somegurkWhy doesn't modern medicine use more leaches? 0ポイント1ポイント  (0子コメント)

No difficulties for me going on to grad work anyway. To be honest doing history along with econ was probably beneficial, taught me how to process lots of info quickly, make a good argument and how to write.

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

RI?

Edit: To be serious, I think we need a SRD-style "Don't piss in the popcorn" rule, because of this. If you participate in a thread, you can't link it here. Not that we have brigading issues, but you should explain why a post is badeconomics to the person, not retreat and laugh at it

[–]Thad_Cast1e 0ポイント1ポイント  (0子コメント)

Might be a stupid question but here goes:

Piketty states that r>g which leads to increasing inequality. I remember listening to a radio interview with Björn Wahlroos who more or less says that the greater return on r is due to the increased risk (you expect more return from stocks than form bonds with the same reasoning), and if you compare the forbes richest list from 1987 to today most of the people have been replaced, thus there's little evidence that we are getting an "aristocracy".

In my mind Björn Wahlroos sounds completely logical, but given that Piketty has had such an impact and is frequently discussed what the hell am I missing?

[–]JRRC 0ポイント1ポイント  (1子コメント)

Not sure if this is a place for learns or just general discussion about economics, but anyway, I'd be glad if someone could help me out.

I find macroeconomics quite interesting, but I don't know much about it, and I'd like to change this. My main interests lie in physics/CS/math, so I guess I'd appreciate math-oriented introductions to the topic. Any recommended books or readings?

Also, since I'll be starting college in a month or so I think I'll try to take some classes this year. It's kind of a long shot, but is anyone aware of good intro classes at Stanford if my goal isn't a major in economics, just more knowledge on the topic?

Thanks a lot!

[–]shunt31 0ポイント1ポイント  (0子コメント)

I'm reading Burda and Wyplosz's Macroeconomics, now (the 2nd edition), and it's been very good so far. Since it's from the 90s, I got a good copy for £2.80 from Abebooks.
New ones will cost you at least 10x as much, if not more. It's been quite easy to understand most of it so far (surprisingly easy, for someone who knows nothing else about economics), and there's been pretty much no serious maths yet (no calculus, if that tells you how light it is).

[–]shunt31 0ポイント1ポイント  (0子コメント)

Why has CEO pay increased 9 times from 1978, after adjusting for inflation? My textbook tells me wages will generally equal MPL, and then goes on to talk about efficiency wages and other effects that make it not equal MPL. Surely productivity hasn't increased by 937%? It seems unlikely that efficiency wages and friends would be worth that much to firms that it makes up the shortfall.

In a similar wage related vein, does anyone have any papers/articles that say how effective relocation subsidies are at combating unemployment (or maybe labour mobility, like as a measure to fix the woeful mobility in the EU)?