Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Per Bylund Profile picture
@PerBylund
Sep 17, 2020 • 46 tweets • 13 min read • Read on X
Economics is primarily a way of thinking about the world that uncovers the true mechanisms and processes behind, and helps us understand, what we can all observe. This is a forever thread collecting my #econthread tweets. #PerBylundthreads
On #scarcity .
On the #sharingeconomy .
On economic theory vs. empirical analysis.
On economic thinking.
On economic growth.
On business cycles and business cycle theory.
On Mises and management.
On value.
On subjective value.
On critiques (and misunderstandings) of markets.
On planning.
On Mises and #uncertainty .
On economic cost.
On #profit .
On free market economics.
On the economy.
On automation not being the real threat - inflation is.
On #entrepreneurship .
On transaction costs.
On the division of labor.
On #monopoly .
On monopoly power.
On value creation vs. competition.
On what is an economic good.
On economists losing their way.
On how production drives the economy.
On how to correct economic injustices.
On wealth and poverty.
On tradeoffs--the seen, the unseen, and the unrealized.
On #deflation .
On the Whig theory.
On why free-market economics is no ideological.
On trade.
On entrepreneurship and markets.
On #regulations .
On why businesses fail. And who is to blame.
On empirical science.
On pausing the economy.
On the folly of employment policy.
On proper #economics .
On the economy as engineering (it is not).
On the role of demand.
On how entrepreneurs deal with uncertainty.
More on #regulations .
On why startups competing with universities fail.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Per Bylund

Per Bylund Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @PerBylund

Per Bylund Profile picture
Sep 20
In academic publishing, there should overall be more pushback on reviewers' suggestions and critique. And editors should feel compelled to consider the arguments presented for/against, not assume that the reviewer is more of an expert on the subject matter than the author(s).
It bothers me, as both author and editor, that reviewers' opinions are treated as objective fact. We've all had nasty and ignorant comments from reviewers, which should compel us, as authors, to push back. But it is dangerous if editors presume reviewers have superior expertise.
The sad truth is that reviewers often get invited to offer opinion on papers that aren't squarely within their core expertise. They also neither get paid nor have time to really "dig into" the arguments. As a result, they sometimes do a lousy job and offer irrelevant feedback.
Read 8 tweets
Per Bylund Profile picture
Aug 22
"Brides of the State," or BOTS, are a "large cohort of American women who have embraced the helping hand of the state in place of the increasingly suspect protections of fathers, brothers, boyfriends and husbands." unherd.com/2024/08/the-ma…
...which again raises the interesting (and philosophical) question of whether/to what degree those who live off/are dependent on the state should also have a say on what it does, how much it does, and how much it may cost, i.e. how much they get to be a burden placed on others.
"BOTS have demanded and received not only the female-targeted government grants, educational and jobs programmes, and social safety nets ... but also a much broader set of social engineering measures that are fundamentally reshaping American mores."
Read 6 tweets
Per Bylund Profile picture
Jul 13
If #money is only the unit of account administered by the State, as some claim, and is not a/the medium of exchange, then market actors cannot reasonably "lose faith" in it as money. There can be no hyperinflation. It is also unclear what a flight into assets could possibly mean.
What's fascinating about this view is not its reconceptualization of money but how it takes a preferred normative idea of it, not an economic function, and forces the analysis into this new frame--and therefore disqualifies centuries of insightful scholarship and understanding.
Certainly, proponents will claim that the idea better describes monetary praxis (primarily policy) in the present. Whether or not this is true, why should such radical temporal bias be the basis of an analysis--and the rejection of previous, more generally applicable, analyses?
Read 8 tweets
Per Bylund Profile picture
Dec 8, 2023
Imagine a community that over time has come to adopt a medium of exchange, which allows them to trade much more easily for the goods they want.
Then imagine someone suggesting they create more of that medium (but not more goods), claiming it would make them all richer.
#inflation
Eager to become rich, they double the money supply. After heated discussion about who gets the 'cash', they decide that the poor should get more.
Upon getting the new cash, people rush to buy the goods they couldn't afford before. It results in a shortage of goods; prices soar.
With the higher prices fewer people who can afford the goods they previously could buy on their salaries. The additional cash? Many of them have already spent it. The frustration grows and people start demanding that they again increase the money supply to alleviate the problem.
Read 5 tweets
Per Bylund Profile picture
Sep 22, 2023
People's belief in data as a source of knowledge needs to be addressed. It is rarely more than faith backed up by scientism and fundamental misunderstandings of science/the scientific process. There are no data that can "speak" for themselves and data are rarely "objective."
The social sciences study a complex process emergent from actions based on actors' interpretations, understandings, and valuations. Much of the social world consists of unobservables, but even "objective" data that actors take into account are interpreted and thus subjective.
The natural sciences are generally much simpler than the social ditto because they study the world without human agency. This makes for a "cleaner" world that can (typically) be studied using experiments, tests of hypotheses, etc. and that produce largely reproducible results.
Read 13 tweets
Per Bylund Profile picture
Sep 2, 2023
There is deep confusion about money in the bitcoin camp. On the one hand, evangelists are right that a money is better if it is not controlled by a singular entity (with interests of its own) and exists in limited quantity or is difficult to create (resists arbitrary inflation).
OTOH, they often misunderstand the definition of money--the commonly used medium of exchange--and its implications, which is clear from how they refer to bitcoin as a "decentralized" money. That claim doesn't make sense. What they mean is decentralized control over the currency.
Money, and what makes something money, is its adoption as medium of exchange. It's necessarily a bottom-up process; you cannot conceivably force people to adopt a medium of exchange. It's ultimately based on people's choice to use it. Hyperinflation shows even governments cannot.
Read 17 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

Send Email!

:(