Discover and read the best of Twitter Threads about #economics

Most recents (24)

Is #economics a #science? Not as it is colloquially defined ("uses The Scientific Method"), and the same is true for all social sciences. Proper economics is best understood as a way of thinking, an understanding for the fundamental logic of social phenomena. Its job is not, as
natural sciences are designed, to predict and support engineering, but to uncover the true processes and mechanisms behind the phenomena we see and think (often mistakenly) we understand. This is what economics has done since the very beginning, and why it was both the queen of
the social sciences and the 'dismal' science. It was the 'queen' because of its power in explaining social and economic processes and mechanisms as emergent from individual behavior: the (inter)actions of persons. For example, economics explains the significance of market prices
Read 12 tweets
1/n
Reverberations of #PLF2019 ringing in my ears, this ideas-packed edition, curated by @KanchanGupta and @ARanganathan72, is easily the best #LitFest I've attended.
That it is located in the land of Sri Aurobindo, @integralyog, gives it the Force of #nationalism.

A thread...
2/n
#PLF2019 is not a Left-wing #LitFest. But it isn't Right-wing either.
When I heard the various sessions, I knew that more than all other platforms of debate and discourse, it is here that India is articulating its Indian intellectual traditions.
3/n
But what is Indian? Why strike out and create a new category at #PLF2019?
Because, the Indian mind...
1. Cannot be captured and constrained into a single Left-Right box.
2. Is all-embracing, all-respectful.
3. Goes beyond toleration and epitomises acceptance.
Read 8 tweets
With brand new epilogue: Dear Greta.

#climate #climatechange ideafaktory.com/cannibal/
#ClimateChange thread

The most sober & pragmatic analysis I've seen is from Citi, showing the benefits of clean solutions outweigh costs.

But that's the business side.

Sadly, the political rhetoric is now unhinged, exaggerated, irresponsible hysteria.

theguardian.com/environment/cl…
1) Greta says "people are dying". Not exactly. Deaths from natural disasters have plummeted over past 100 years.

2) Greta says capitalism is the problem when its driven down pollution by subbing gas for oil/coal, driven innovation lowering solar, wind, battery & other alt costs.
Read 26 tweets
*THE WAGES OF THE IGNORANT*

They increased VAT from 5% to 7.2 % e no reach , now they come put charges on your money saved in the banks such as - 2% charges on Savings, 3% Charges on withdrawal and other existing charges like Monthly charges, SMS, transfer charges, ATM
maintenance, etc wey no reach again, Watch out for the next policy while you do that my brother and sister the ignorant will always pay to the wise unless he becomes informed.
You may not know that these financial institutions are in accord to drain you.

It's time to take
yourself and generation out of this bondage and the time is now.

*How can I do that?*
*What should I do ?*
*Are those one of your questions?*

_Well let me tell you for *FREE* , start by investing in assets that has tax advantages so you don't continue to work while the
Read 6 tweets
"You don't see radio changing gradually and suddenly become radar. #Darwin's theory doesn't work for #technology, and we have to make a new observation."

- W Brian Arthur at SFI today

#evolution #innovation #invention
"Novel technologies are constructed from existing technologies. These offer themselves as components for the construction of further technologies."

- W Brian Arthur at SFI today

#evolution #innovation #invention #technology #engineering #design
Unlike the two-parent #inheritance typical to (but not ubiquitous among) #complex organisms, #technology inherits features from n parents - a "vast ancestral #network" more like horizontal gene transfer networks in #bacteria.

W Brian Arthur on sumulating #invention on a chip:
Read 18 tweets
Thread on some thoughts on @ewarren's plan to demand poor countries meet labor & environmental standards to trade with the US & on @Noahpinion's critique.

1) Yes, Clinton-era free trade agreements caused a multi-decade job bleed from the US, especially in manufacturing
2) Free trade generally benefits lower cost providers. Therefore, a net positive for emerging nations.

3) There are things we could have done to phase in free trade deals, like boost investment & re-training in other industries, to limit the downsides. But hindsight is 20/20.
4) While ALL consumers benefit from lower prices from free trade & much smaller groups of workers benefit from protectionism, it's the job of a nation's leaders to balance the two. That did not happen here. The digital boom abandoned the analog workers of exported industries.
Read 12 tweets
@c_ehrbar Laugh all you want, I look at every timeframe on everything that I'm concerned with. I chose the 1H timeframe here, and even the 3m too on a facebook post, to serve as a "before" image if/when it plays out as quickly as expected. Then I can make something like this yet again.
@c_ehrbar An example of higher timeframe context that I've been providing... Notice how nicely it bounced from the .886 retracement 125 days after I posted it.

tradingview.com/chart/NDX/ca8z…

#StockMarket $DJI $NDX $SPX $SPY
@c_ehrbar I use that along with my analysis on #bitcoin itself, the individual indices, my "sum of that american indices divided by the price of gold" private chart, and several others to be almost certain of my medium-term scenario playing out, just as I was about #bitcoin goin up from 3k
Read 6 tweets
A little note about the #LessAndBetter meat message - I'm quite well known for calling this out as unhelpful and actually harmful to developing more sustainable farming systems, but it's not *just* because I sell meat, although that has given me an insight into the effect of such
a destructive message. The problem stems mainly from the vague nature of the message - less than what? better than what? what is better? what is 'meat'?- it's not at all clear, if you take greenhouse gas emissions, for example, cows emit methane so they must be bad, right, so
let's eat chicken instead? But hang on, chicken is the most intensively reared meat available, so how can that be 'better'? Well, maybe we first need to work out what we mean by 'meat' and how things have changed. According to FAO Stat, in the half century to the UK has changed
Read 20 tweets
Keynes was a pedo. Source in footnote. #Economics
Follow me if you like freedom 👌✌️
For further reading on Keynes’s sex life (if you care for god knows why):
keynesatharvard.org/book/Sugar_Key…
Read 4 tweets
What does an economy do? Modern #economics suggests it is about [production] #efficiency, and develops models for assessing the degree to which it is achieved and predicting outcomes assuming it. This is a fundamental misunderstanding that, when scratching on the surface, clearly
is as impossible as it is undesirable. Economy is about #valuecreation: about getting more out of less. Efficiency is backward-looking and lacking of progress, while value creation is future-oriented and aspirational. What I mean by that is that efficiency is about tinkering with
processes and mechanisms that already exist, with the goal of making them run faster, smoother, and with less waste. It is about #management, about reducing costs and cutting overhead. But one cannot cut costs unless there is already an established process ssrn.com/abstract=30582…
Read 14 tweets
John Maynard #Keynes was born on June 5, 1883, and died too early. Here's a few thoughts on why I keep circling back to him, & why his work forces 2 rethink the way we do & teach #economics, esp. #micro. I am sure this (partial) thread will upset someone: apologies in advance. 1/
#Keynes understood that #macroeconomics is about emergent properties: aggregate outcomes that don't make sense 2 the individuals populating the economy. The logic, e.g., of the #IncomeExpenditure model is that an economy can coordinate along any point on the 45-degree line.. 2/
and that, accordingly, we should expect economies to operate with slack. Then you have the #ParadoxofThrift and all that. He also talked about the #ParadoxofCosts when he discusses redistribution to lower income people who have higher propensity to consume... 3/
Read 14 tweets
#FoodTech 🥘
Thread about #DarkKitchens

(1) Dark kitchens are delivery-only kitchens
German article ktchnrebel.com/de/dark-kitche…
(2) in #London 🇬🇧 or #India 🇮🇳
English article livemint.com/companies/star…
(3) operated by Delivery Services 🚴‍♂️such as @Deliveroo @UberEats #supper @JustEatUK ...
Read 14 tweets
»#YuriBezmenov may well go down in history as a #saint by the #survivors of the generations to come.

His statements about the global “#communist agenda” offers an opportunity for students of #history, #philosophy and #economics - world wide - to take note of #reality and to
..
.. reflect on the identity of their intellectual enemy, the dynamics of #capitalism in economics, and the role of #violence in politics.

Firstly, what is the “western identity”? From my understanding .. the #western identity has been shaped primarily by what it has resisted:
..
..
namely monarchic #despotism, authoritative #collectivism, and the infringement on the sovereignty of the #individual. You can even say that, to an extent, #Christianity itself followed from an already existing identity (i.e. the #Socratic divination of the individual).

..
Read 16 tweets
[A THREAD]
Bagaimana cara menabung saham yang benar? Apakah membeli saham yang produknya kita mudah temui? #yuknabungsaham #idx
1. Dengan gencarnya promosi untuk ikut #yuknabungsaham maka makin banyak millenial sekarang yg mulai berinvestasi. Salah satunya juga karena promosi di medsos dengan endorser spt di IG... #idx
2. Tapi tidak sedikit yang bingung setelah akun jadi, mau beli saham apa, lalu jawaban klasik yang sering kita temui adalah "beli saja yang produknya mudah kita temui" #yuknabungsaham #idx
Read 31 tweets
"#Economics has long been the purview of men; almost all the names in early economic thought were men, with the notable exception of Joan Robinson, a member of John Maynard Keynes’s inner circle of Cambridge economists." - @LipstickEcon americanprogress.org/issues/women/n…
"More recently, women economists have risen to prominence, such as Janet Yellen, the chair of the Federal Reserve." (Trump replaced her with a less qualified man: businessinsider.com/trump-picked-p…)
"Still, women make up only just more than 30 percent of new PhDs in economics and their proportions are lower further up the career ladder: Only 15 percent of full professors in economics are women." businessinsider.com/gender-and-rac…
Read 14 tweets
Economists estimate trump's #TradeWar w/ China has already cost U.S. companies & consumers $19.2 billion.

Now U.S. retailers, to avoid drastic price increases in the U.S., purchase products from Tawain, South Korea, Vietnam, & Mexico (thread)
#economics

reuters.com/article/us-usa…
The trump #TradeWar is making #Vietnam a winner-- as "exports rose 12.4% in the 2nd half of 2018...outpacing the five biggest economies in SE Asia"

And co's like Xuan Hoa Vietnam Joint Stock Co. (furniture) have shifted operations from China to Vietnam.

bloomberg.com/news/articles/…
Tawainese companies are also moving out of China to invest in their home country, making #Tawain a winner in the #TrumpTradeWar

#economics

taiwannews.com.tw/en/news/3679587
Read 11 tweets
I think we can all agree that food is pretty important for survival.

Climate Change is already impacting food security- it is not a distant, ambiguous concern: 

More than 1 million acres of US cropland ravaged by floods

reut.rs/2Uly0eC

#ClimateActionNow #foodsecurity
Cascading impacts of deadly flooding around the world includes "food supply shocks"
bit.ly/2OVoGZN

"A “whiplash” between very dry periods, followed by very wet periods, is exactly what we can expect from climate change"

#foodsecurity #ClimateChange #agriculture
...North America is not immune - bit.ly/2OVphL1

Already ‘There’s bleeding going on’ in U.S. farm economy, ag lender says, due in part to extreme weather

A prolonged downturn “has impacted farmers of all ages, experience levels and sizes”

#extremeweather #farming #farm
Read 16 tweets
#economics thread

@aoc's expansionary, unconstrained domestic spending proposal #GND (Green New Deal) is based on #MMT (Modern Monetary Theory).

It argues only regulating inflation & unemployment matters, not
deficits.

Some of my problems with MMT...

en.m.wikipedia.org/wiki/Modern_Mo…
I'll let @paulkrugman handle MMT's explicit problems. Mine are with its implicit presumptions:
1—We know how to manage long term vs short term
2—Global interdependencies don't matter
3—permission for uncapped spending
4—ignoring effect of aging
5—We can control inflation post-MMT
1) LT vs ST
Even w/traditional keynesianism, we are terrible at ½ the theory. SAVE during booms, spend during downturns. We've got the 2nd half down. Not the first one. Is there anything in our history that might suggest we are capable or willing to make good LT rate decisions?
Read 12 tweets
HAPPY VALENTINES DAY! ❤️❤️❤️

NEW THREAD:

Does P = [P]ALLADISM???

P = C
The “Chair” Serves the Master
Who is the Master??? 🤔

DOWN THE RABBITHOLE WE GO!!

#QAnon #WWG1WGA @realDonaldTrump @GenFlynn #EuropeanImperialism #NWO
👉🏻sites.google.com/site/memphismi…
2/ Most People are familiar with Albert Pikes 3 World Wars... I will attach the information for those who do not know... The Hidden Agenda is World Domination #NWO & #Luciferianism (we’ll get into that a bit later) #FreeMasons #Satanism #QAnon
👉🏻usa-the-republic.com/illuminati/Alb…
3/ Members of The #PalladianRite are obsessed with #Occultism
They communicate with Spirits called
⚡️⚡️#Illuminati (#Demons?)
When a Member becomes #Illuminated he is called an #Illuminatus (#DemonPossessed?)
Collectively they Call themselves “Masters of the Temple” ⚡️⚡️
Read 48 tweets
#GermanCulture
Today is the 79th #birthday of #German economist and writer Roland Baader(1940-2012), a proponent of the #AustrianSchool of #economics, an indefatigable defender of #liberalism and prophet of the dangers of creeping #socialism. In a sense, a secular Martin #Luther.
Under hashtags of the form #MDHP-𝑛 I will publish my translation of the following #obituary for Baader:
Gerd Habermann: 𝘔𝘪𝘵 𝘥𝘦𝘮 𝘏𝘢𝘮𝘮𝘦𝘳 𝘱𝘩𝘪𝘭𝘰𝘴𝘰𝘱𝘩𝘪𝘦𝘳𝘦𝘯.
Junge Freiheit Nr.3/12 (2012-01-13)
(published in pdf-form in hayek.de/images/pdf/nac…)
..
..The title of the above newspaper article has no DIRECT relation to Baader's work, rather is an #allusion to a subtitle of a book by Friedrich #Nietzsche (1844-1900), written when Nietzsche was at the verge of mentally collapsing. (Nietzsche was incapacitated from1889 onwards).
Read 4 tweets
Has anyone read the "Economists' Statement on Carbon Dividends"? I'll paste it here. About 30 Nobel Laureate economists, 4 former Chairs of the Federal Reserve and 15 former Chairs of the Council of Economic Advisers have signed it this in favour of "#carbontax" (1)
Economists' Statement on Carbon Dividends

Global climate change is a serious problem calling for immediate national action. Guided by sound economic principles, we are united in the following policy recommendations. (2)
I. A carbon tax offers the most cost-effective lever to reduce carbon emissions at the scale and speed that is necessary. (3)
Read 13 tweets
1 YEAR OF @TheDissenterYT. THREAD WITH FIRST 132 INTERVIEWS.

I will be reposting all of the interviews I've done on the first year of the show, one per day, on this thread, with links to the new podcast.

@robsica @docamitay @vancitytaraxo @Muttmere1 @hfsunde @franciscforde
#1 Oren Amitay: Portuguese Bills on Transgender Rights. #psychology

Youtube:
Anchor: tinyurl.com/yaep3ne8

@docamitay @Muttmere1 @vancitytaraxo @robsica @franciscforde @YzarW @jimfrank @KarinLitzcke @Lauguerreiro
Read 159 tweets
Good #economics debate among @oren_cass @benshapiro @EricRWeinstein on what if market capitalism can no longer produce marriageable men & stable family formation. Is there a case for intervention...presuming we can identify root causes.

Start here:
Then:
Some causes of male wage/family breakdown:
-⬆️education/housing/healthcare
-⬇️skilled jobs, ⬆️ low wage services
-⬆️women in workforce👉wage competition, ⬆️supply
-divorce law disincentives
-mass incarceration of black men
-adverse public assistance incentives
-⬆️lifestyle choice
Interesting to note many of these are self-inflicted: direct byproducts of policies we enacted.
-loss of manufacturing jobs expedited by free trade agreements
-incarceration, divorce & welfare laws adverse consequences
-Fannie/Freddie/health tax breaks created massive distortions
Read 6 tweets
Senator, can you explain to the nation why your favorite Sweden doesn't have minimum wage laws? If you can't, I will, See the following tweet.
Did you know the coffee shop where @Ocasio2018 “got her start” had to close down because minimum wage hikes have put them out of business?
1. Increasing minimum wage results in low-skilled young workers either being laid off or never getting a first job to build their skills for a better paying job later. Democrats always find ways to exacerbate problems while pretending to solve them.
Read 7 tweets

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