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BadEconomics Discussion Thread, 06 October 2015 (self.badeconomics)

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[–]CatFortuneにゃんぱす! 2ポイント3ポイント  (7子コメント)

I’m going to list some questions from the infamous Political Compass test. Feel free to answer or address some, any, or none of them. For clarity, they are agree/disagree questions.

  • If economic globalisation is inevitable, it should primarily serve humanity rather than the interests of trans-national corporations.

  • Military action that defies international law is sometimes justified.

  • People are ultimately divided more by class than by nationality.

  • Controlling inflation is more important than controlling unemployment.

  • "from each according to his ability, to each according to his need" is a fundamentally good idea.

  • It's a sad reflection on our society that something as basic as drinking water is now a bottled, branded consumer product.

  • Land shouldn't be a commodity to be bought and sold.

  • It is regrettable that many personal fortunes are made by people who simply manipulate money and contribute nothing to their society.

  • Protectionism is sometimes necessary in trade.

  • The rich are too highly taxed.

  • Those with the ability to pay should have the right to higher standards of medical care .

  • Governments should penalise businesses that mislead the public.

  • Taxpayers should not be expected to prop up any theatres or museums that cannot survive on a commercial basis.

  • The prime function of schooling should be to equip the future generation to find jobs.

  • Those who are able to work, and refuse the opportunity, should not expect society's support.

  • When you are troubled, it's better not to think about it, but to keep busy with more cheerful things.

  • No broadcasting institution, however independent its content, should receive public funding.

  • Abstract art that doesn't represent anything shouldn't be considered art at all.

  • The businessperson and the manufacturer are more important than the writer and the artist.

  • Multinational companies are unethically exploiting the plant genetic resources of developing countries.

  • Charity is better than social security as a means of helping the genuinely disadvantaged.

Trivia: If you take this test while feeling uniformly strongly disagreeable, you get this. Interestingly, my last testing got around this mark.

[–]irwin08STAGFLATION IS COMING, BUY GOLD NOW!!1! 1ポイント2ポイント  (3子コメント)

If economic globalisation is inevitable, it should primarily serve humanity rather than the interests of trans-national corporations.

This sounds like something Bernie Sanders would say and doesn't really mean anything so No Opinion.

Military action that defies international law is sometimes justified.

Yes, if Russia or someone blocks a UN security council decision that threatens there interests but the military action is still needed then it is justified.

People are ultimately divided more by class than by nationality.

I guess?

Controlling inflation is more important than controlling unemployment.

To a certain extent. It should be a balance though. We shouldn't be using higher and higher inflation to fight unemployment for example.

"from each according to his ability, to each according to his need" is a fundamentally good idea.

None of that commie crap.

It's a sad reflection on our society that something as basic as drinking water is now a bottled, branded consumer product.

Disagree, water has a market just like everything else.

Land shouldn't be a commodity to be bought and sold.

Lol disagree. DAE tragedy of the commons?

It is regrettable that many personal fortunes are made by people who simply manipulate money and contribute nothing to their society.

Disagree, there is no such thing as a free lunch.

Protectionism is sometimes necessary in trade.

lol nope

The rich are too highly taxed.

Probably not.

Those with the ability to pay should have the right to higher standards of medical care .

Agree.

Governments should penalise businesses that mislead the public.

Yes.

Taxpayers should not be expected to prop up any theatres or museums that cannot survive on a commercial basis.

Yes, muh free markets.

The prime function of schooling should be to equip the future generation to find jobs.

Sort of agree? I think it should be up to the student and parent at the end of the day, vouchers pls.

Those who are able to work, and refuse the opportunity, should not expect society's support.

Well yeah, when the question is framed that way.

When you are troubled, it's better not to think about it, but to keep busy with more cheerful things.

I guess?

No broadcasting institution, however independent its content, should receive public funding.

Agreed.

Abstract art that doesn't represent anything shouldn't be considered art at all.

Don't really care, people can have their own opinions.

The businessperson and the manufacturer are more important than the writer and the artist.

Very subjective so don't really care as well.

Multinational companies are unethically exploiting the plant genetic resources of developing countries.

Disagree as this is usually an argument against free trade.

Charity is better than social security as a means of helping the genuinely disadvantaged.

Depends. Negative income tax pls.

[–]CatFortuneにゃんぱす! 1ポイント2ポイント  (0子コメント)

Thanks for answering every question and giving your opinions. I enjoy hearing people's opinions as much as I like giving my own.

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

Agreed with almost everything. However...

It is regrettable that many personal fortunes are made by people who simply manipulate money and contribute nothing to their society.

Disagree, there is no such thing as a free lunch.

I mean, there's a sound argument to be made that at current margins, much of finance is a zero sum game, and further investment of human capital into it is socially wasteful.

Protectionism is sometimes necessary in trade.

lol nope

New Trade Theory does real, and Rodrik's argument that the third-world should prioritize manufacturing to accelerate productivity convergence makes sense. Now, these are more the exception than the rule, and it's certainly different than what the average responder to that question will interpret it as, but still...

Multinational companies are unethically exploiting the plant genetic resources of developing countries.

What the fuck does that even mean? Is it a complaint about GMOs? If so, that's kinda garbage. Is it a complaint that developing countries get stuck doing more agriculture and less manufacturing than they should to have productivity convergence? If so, that makes sense, but the reason why this is bad is because developing countries have less efficient agriculture than America et al.

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

No broadcasting institution, however independent its content, should receive public funding.

Agreed.

#IStandWithSesameStreet

[–]LordBufo 1ポイント2ポイント  (0子コメント)

I got ec=-4.25&soc=-6.46. I guess I'm a left-libertarian lol.

[–]alexhoyerI used to bullseye Keynesians in my T-16 0ポイント1ポイント  (0子コメント)

If economic globalisation is inevitable, it should primarily serve humanity rather than the interests of trans-national corporations.

Presuming the two are mutually exclusive, no?

Military action that defies international law is sometimes justified.

Agreed, war is changing rapidly and I doubt international institutions can keep up.

People are ultimately divided more by class than by nationality.

In all likelihood there's a correlation there...

Controlling inflation is more important than controlling unemployment.

I do like price stability. How would we even evaluate this?

"from each according to his ability, to each according to his need" is a fundamentally good idea.

Sounds reasonable I guess, but I don't like where it's headed.

It's a sad reflection on our society that something as basic as drinking water is now a bottled, branded consumer product.

Private water sources constitute far less than 1% of annual water consumption. Dave Zetland has laid out a compelling case for water rights in the AMAs he's done.

Land shouldn't be a commodity to be bought and sold.

Heaven forbid we allocate scarce resources using the pricing mechanism.

It is regrettable that many personal fortunes are made by people who simply manipulate money and contribute nothing to their society.

As a professionally employed usurer I can assure you this is all we've ever done for society, companies don't need financing.

Protectionism is sometimes necessary in trade.

Even Kruggers is skeptical of the viability of this practice, governments aren't good enough at choosing industries for it to be viable (even if it could work in theory).

The rich are too highly taxed.

I'm not sure how anyone could come to this conclusion.

Those with the ability to pay should have the right to higher standards of medical care .

Somebody really hates the price mechanism. Supply matters.

The prime function of schooling should be to equip the future generation to find jobs.

No the primary point of schooling is to provide a forum for me to express myself artistically.

Governments should penalise businesses that mislead the public.

Yes.

Multinational companies are unethically exploiting the plant genetic resources of developing countries.

Damn hippies, fair trade is stupid.

Charity is better than social security as a means of helping the genuinely disadvantaged.

Social security explains 100% of the decline in elderly poverty over the past few decades, I can't believe you'd get the same result with charity.

[–]UmmahSultan 0ポイント1ポイント  (0子コメント)

Political compasses are for baseball-obsessed libertarians, but anyway it's pretty amusing that gun ownership is categorized as an economic issue, while military spending is somehow a social issue.

[–]irwin08STAGFLATION IS COMING, BUY GOLD NOW!!1! 1ポイント2ポイント  (0子コメント)

So the Liberal Party of Canada put out there platform for the election in two weeks. Does it contain badecon? Link

[–]Oronsolot 0ポイント1ポイント  (0子コメント)

What's the current state of evidence regarding educational voucher systems effect on improving educational outcomes?

[–]alexhoyerI used to bullseye Keynesians in my T-16 0ポイント1ポイント  (0子コメント)

I have a question. It was my understanding that business cycles are fluctuations around the long run path of the economy, and that by extension they shouldn't affect long run growth (or levels). But I've been reading Krugman and he argues that recessions affect both long run growth and the level path of the macroeconomy. Wat do? Maybe he was just arguing that self-correction would take an extensive period of time but it didn't seem that way.