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Tony Yates Profile picture
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9 Dec, 4 tweets, 2 min read
Great piece on AI surveillance in China h/t @Noahpinion theatlantic.com/magazine/archi…
I found this comment surprising, though, given the amount of knowledge and competence you would acquire by applying and using the tools, which China is doing on a massive scale.
Maybe Google > Bing etc, but Chinese state institutions will be ahead of US already, no?
Fair comeback, but I think there is a lot of learning by applying and doing, and it's applying and doing that is not happening in the US.

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Tony Yates Profile picture
12 Dec
Amateur economist MMT-converts are very like the religious people I have occasionally met who confidently recite creationism.
Creationism mostly stems from ignorance and insulation from good scientific education. Amateur economist MMT-ism, prevalent in journalism, finance, retired finance, stems from the same ignorance.
Economics rightly does not have the same status as science. But this is more true of the answers. The questions and controversies are rich and interesting. You sound silly barking MMT and revealing your lack of curiosity about all those questions.
Read 9 tweets
Tony Yates Profile picture
12 Dec
Nope. Tax does fund spending. The inflation or money creation tax funds a fraction of a per cent of GDP. Power to issue money and its understanding, to a first approximation, is irrelevant to the task of funding and rebuilding state capacity.
Richard I think is typical of the MMT genre. Very clever, probably for that reason deems reading and working through mainstream public finance maths and macro tedious and unnecessary, and prefers to try to reinvent it from scratch in his head. And goes wrong.
I don't think it's a coincidence that MMT advocates are not emerging from mainstream graduate programs. Obvs MMT people will cite brainwashing as the explanation for that.
Read 7 tweets
Tony Yates Profile picture
10 Dec
So John Cochrane is enthusiastic again about markets, after Trump's four years attacking them. johnhcochrane.blogspot.com/2020/12/free-m…
The quick answer to this post is 1) there are ethics too. 2) if you don't have free markets to start with, don't presume that dropping some regulation will make them free-er.
Actual economies - like the US - are infested with rents. So if you allocate vaccines to the highest bidder, you might just be rewarding rent extraction.
Read 8 tweets
Tony Yates Profile picture
10 Dec
I didn't like this. Brexiters are 'purple faced'. Remainers are 'that same insufferable London type'.
And what is this?
Who is supposed to be 'totally unconcerned about the root causes of other people's unhappiness'? What is the evidence for 'low skill immigration' having broken 'the social contract'?
Read 5 tweets
Tony Yates Profile picture
10 Dec
I think the ratio of Zoom panels I have spoken in vs watched is about 3:1. And I haven't done many. Is anyone else on the other side of this, furiously watching Zoom panels? If so, why?
I think this issue needs to be followed up and debated. I propose that I chair a
Chairs regularly report viewing figures 'right we have 650 logins, looking good...' and chat bars fill up with earnest questions from real looking handles.
Read 5 tweets
Tony Yates Profile picture
9 Dec
A question observers of the UK Conservative Vote Leave lot, and the GOP ask themselves all the time is - do they understand all this stuff at some level, and just concoct catchy lies about trade they have focused-grouped, or do they not understand it?
And for some, things like trade and 'sovereignty' have been their specialist topics for two decades. Is this ultra refined populist talking point discourse, or stupidity to a degree that should be astounding in those holding public office?
A bit unfair to single out Tories. @AndyBurnhamGM hopped on the populist trade bandwagon on immigration as did several other Brexity Labour MPs.
Read 19 tweets

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