Discover and read the best of Twitter Threads about #economics

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Things are starting to change. What future do we want?

The political left and alt-right will use technology (incl. #AI/#AGI) & near-certain runaway #climate change. How to turn threats into opportunities? An intro to #ExtinctionRebellion research: vimeo.com/297453366 1/n
This film introduces a political theory on necessary conditions for climate mitigation (a.k.a.: "saving the world"). Let's call this theory "carbon language" until we find a better term. Don't worry, this thread will be short and easy to understand. vimeo.com/297679220 2/n
Indeed, this thread is entirely unscientific because science can tell us only how to save the world, not why. Why preserve life on Earth? Why live good lives? These are ethical questions; their answers depend on our values, and if we want to mitigate climate change, we will 3/n
Read 29 tweets
#NSPNsymposium18 Dalal Najib
@theNASciences comes from #Casablanca in #Morocco and moved to @UMich for a #PhD on interaction of Mars & Venus atmosphere and solar winds. However, she had a crisis and wanted to give back to her community, and dove into #scipol, #ethics, #economics
She went on to do a Christine Mirzayan S&T fellowship via @aaas, one of the few options available to #international applicants (cc @IWS_Network). Wanting to engage #ECR, she applied for a position @theNASciences, got in, and never looked back #NSPNsymposium18
She now promotes #international development, security, and cooperation with @theNASciences, through #Science #technology and #innovation.

@theNASciences@NSF! The National academy is independent from govt and provides #scienceadvice and #evidence for #scipol

#NSPNsymposium18
Read 14 tweets
"Can we save Earth?" A thread. Fun interview of #Schellnhuber, the leading #climate scientist, with digital-utopia-creating philosopher @richprecht (#AI: service.randomhouse.de/book/Hunters-H…). Worth your time content- and framing-wise, if you zdf.de/gesellschaft/p… 1/n #ExtinctionRebellion
...if you know German (else here a translation of notes I made towards the end to update you on the climate-debates State of the art in German media:
– A key reform of the political system worth debating would be to limit politicians' terms to 8 years, to incentivize them to 2/n
care about our not their future (see #Monbiot 2017: theguardian.com/books/2017/sep…).

– We're experiencing the paradoxon of being unable to go on and unable to get off.
-- Wir erleben eine Unmöglichkeit des Weitermachens und eine Unmöglichkeit des Ausstiegs.

– We live in a society 3/n
Read 20 tweets

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A special series of 4 lectures from #AvnerOffer @OxfordESH starting at 5pm this evening @Cambridge_Uni. #econhist #economics
Today's conclusion to #AvnerOffer's first lecture.
Read 12 tweets
The concepts of doing well by doing good, impact investment funds & the like substitute "generosity" for "justice". Justice often requires the powerful to lose something, to stop standing on someone's back. 1/x
Generosity in this context is like continuing to stand on someone's back while throwing them a bone. Generosity of this kind where the system doesn't change but scraps are thrown has become a very powerful idea. 2/x
paraphrased from a conversation between @AnandWrites & @deray on he Pod Save (@PodSaveThePpl) the People #podcast crooked.com/podcast/never-… #economics #politics #business #philanthropy 3/3
Read 15 tweets
Ray Dalio talks #economics. Must watch. Here he covers emerging markets economic crises as well as how the next big crisis will shape up.
Ray Dalio's investing approach is centered around processing data into actionable conclusions. His goal has been to understand how the economic machine works. History repeats itself, he claims. His hedge fund, Bridgewater Associates, embraces econometrics.
In contrast, the Austrian School of Economics generally rejects econometrics and dismisses empirical evidence. Instead of trying to understand the economic machine, they fight it. Listening to an Austrian economist is listening to never ending bashing of fiat currencies.
Read 8 tweets
Increasing minimum wage results in low-skilled young workers either being laid off or not getting hired, and Rent Relief results in rents getting raised because landlords know about it too. Democrats always find ways to exacerbate problems while pretending to solve them.
Politics Of Minimum Wage

The real minimum wage on the street is always the same -- zero!

However, Democrats advocate for it incessantly, because they count on the fact that those who get a raise will thank Democrats, whereas those who lose their jobs will blame the employers.
#politics #economics
People who support raising minimum wage must either think all employers are blood-suckers or that money grows on trees.
Read 4 tweets
#RePEc is a collaborative effort of hundreds of volunteers in 99 countries to enhance the dissemination of #research in #economics & related sciences (see repec.org on how you can be part of this initiative). Here is the list of our main services👇
Munich Personal #RePEc Archive is intended to disseminate #research papers of economists who want to make their work freely available through the RePEc network but are not affiliated with any institution that provides that furtherance mpra.ub.uni-muenchen.de
Are you a researcher in #economics or a related field?
Create and maintain a public profile of your work with #RePEc Author Service authors.repec.org
Read 10 tweets
1/ The US Dollar may not be redeemable in gold, but the US Dollar is backed by various assets, including gold, as required by law. (see federalreserve.gov/faqs/currency_…) #economics
2/ The answer to this poll was "the US Dollar is backed by Assets". Only 6% got it right (that is 87 out of 1443 people). And many for the wrong reasons (yes, guns are assets, yet not the assets backing the US Dollar).

3/ Second best answer would have been "Debt", or "Debt securities", which were not an alternative. Every debt deed is a liability for someone and an asset for someone else.
Read 16 tweets
A few years ago, I taught in a different school where I had many kids from El Salvador. One student in particular was quite troubled. I mean. He was a real pain in the butt. But I never sent him out of class because I'm not that kind of teacher.
1)
#FamiliesBelongTogether
But other teachers were having problems with him and he ended up on the assistant principal's almost every day. He was very disruptive in their classes. Finally, the guidance counselor got permission to share his story.
2)
#KeepFamiliesTogether
It turns out that this boy hid under the bed while his mother was repeatedly raped when he was 4 years old.
He witnessed his mother being raped.
Repeatedly.
3)
#KeepFamiliesTogetherAct
Read 7 tweets
'Who believes in Bitcoin?’ Podcast from end 2017 /thread #UBS #economics # btc #bitcoin #bitcoincrash soundcloud.com/ubs-investment…
/2 Some of the investors are unsophisticated (inevitably), or desperate (people in hyperinflation economies). Financial regulation is designed to help such people. The crypto bubble came was faster than financial regulators could respond.
/3 The loss of confidence in experts (aided by media sensationalism) did not help. Cryptocurrencies may be mathematicaly elegant but are clearly designed by people who do not understand economics. The time of the cryptocrash could not be predicted, but it was inevitable
Read 5 tweets
It would seem to be a mistake to not have taken peoples' very real, practical concerns more seriously irishexaminer.com/ireland/trump-…
This was the article which had been retweeted newsweek.com/trump-building…
3/ Given extent, range, & specificity of research that has gone into making appeal so far it raises certain questions about how the local council justifies itself as operating for the greater good of all of its locality-while pumping publicity for... friendsoftheirishenvironment.org/press-releases…
Read 13 tweets
Six #nuclear reactors closed since 2013. By my count, up to 23 more reactors may retire w/o policy or market conditions improving: 21.6 GW = ~1/5th of US fleet, 4% of US #electricity--and crucially, 12% of emissions-free generation.

So what's killing nuclear power in the U.S.?
In a new @MIT CEEPR paper -- 1 part #energy #economics & 1 part film noir murder mystery! -- I provide the 1st empirical estimates of what's driving down #electricity market prices & killing profitability of 19 #nuclear power plants across @pjminterconnect ceepr.mit.edu/publications/w…
You can read a short policy brief summarizing the paper & key conclusions @MIT CEEPR here: ceepr.mit.edu/files/papers/2…

Abstract & paper here: ceepr.mit.edu/publications/w…

Slides presented at #ASSA2018 here: dropbox.com/s/b6192hrvn331…
Read 34 tweets

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