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BadEconomics Discussion Thread, 20 October 2015 (self.badeconomics)

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[–]prillin101Fiat currency has a 27 year lifespan 0ポイント1ポイント  (0子コメント)

Three questions!

1.) I read a comment on a Krugman piece about debt (Comments sections on news sites are never a good idea), and it separated government debt into two areas. One, is good and is used to pay for hospitals, schools, etc.

The other is bad and pays for non-producing things like pensions.

He then argued that saying the government can take on more debt isn't true because the government may took up debt that is bad and non-producing. Is this true? When people say it's good for the government to have debt, is it true that the positives only surface when the debt is from "good" debt?

2.) Could the capital gains tax be used as a tool for recessions? Whenever the capital gains tax is lowered, it temporarily generates more cash than before because "locked in capital" (Capital that isn't sold simply because of capital gains) is quickly sold and this generates a lot of asset sales. Isn't this good for the economy in the short term, and if so couldn't it be used during recessions to help ease them? Maybe they should be lowered in general because they are highly distortionary, but could they be kept at a percentage in the teens that is then dropped during recessions?

3.) One of the major problems currently is slow wage growth, and slow compensation growth in the 2008 in general. How could this be solved? What policies could the government take up to help try and speed wage growth?

I know an obvious answer is abolishment of employer healthcare tax deductions, as the money there would then probably be transferred into wages, but what else is there that can be done, in the short term specifically?

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

Absolute layman here. Something I have wondered about is why running a sovereign deficit is good economics. I understand that as long as it can be paid back, there shouldn't be an issue - but, all else being equal - wouldn't it be better to generate a surplus, as to minimize interest payments to bond holders and maximize domestic spending on infrastructure, education, health etc?

[–]TheDesertFox929 0ポイント1ポイント  (1子コメント)

I've seen this many on this sub be against most of the Republican candidates even the moderate ones, could someone explain this to me? I mean, Jeb Bush's, Marco Rubio's, and John Kasich's economic plans don't seem that bad except their support for a balanced budget amendment that will never happen anyway.

[–]Classically_Liberal2Reactionary Shill 0ポイント1ポイント  (0子コメント)

I think this sub is overall centrist on economics and left leaning on the other issues, so it's going to be overall liberal leaning. Im probably one of the furthest right here and I'm fairly certain most of these candidates won't win me over because of their stances on civil liberties, social issues, and even foreign policy - and I'm no isolationist.

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

The issue of science funding is getting a lot of attention in some threads I've been reading due to Canada's election.

In general, how do we know when it's time to scale back on funding science, and what benefits are there to government science funding as opposed to letting the free market "take care" of it?

[–]CatFortuneにゃんぱす! | Only understands simple explanations 1ポイント2ポイント  (2子コメント)

What was the last major change of mind you’ve had regarding anything economics related? Tell us why you believed what you did before, and about the argument, evidence, etc., that changed your mind.

As a bonus, I will share a picture to everyone who responds which closest matches my mental image of you if I have one. I have to see your name a bunch and probably interact with you for it to happen, so it’s not a guarantee. Also, they can be pretty absurd.

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

I used to be a Rothbardian Marxist, but converted to Friedmanism so you guys would play with me at recess.

[–]CatFortuneにゃんぱす! | Only understands simple explanations 0ポイント1ポイント  (0子コメント)

You're a cross between a generic tree monster and Scuzzlebutt, because of the South Park reference.