Tom Forth Profile picture
Jan 30 8 tweets 2 min read
Somewhat seriously though, there is lots of good economics to be done on the returns to varying amounts of choice. Did the focus these ladies were able to give to just three products improve both quality and efficiency? Or would more variety and choice be better? Do we know?
I typically chose restaurants by how small their menu is. The smaller the better. But then I have no dislikes and no allergies, which is quite rare.
The "is more choice good or bad?" question is top economics.
• >100 bus fares in Leeds vs 1 in London.
• 10 types of 'milk' in a supermarket vs. 2 or 3 a few decades ago.
• The Starbucks menu vs. a Milan café vs. a café in an English market.
• Go compare vs. British Gas.
ps. I actually think that this topic is one of the stronger points that traditionalists (I'm thinking Goodhart, Scruton, Blond, etc...) make, though I don't think they make it well. If there is a cost to choice, then there may also be a cost to some types of diversity.
We have this most visibly in religious food rules. If you have Kosher meat, Halal meat, and non-denominational meat then you're running three markets for what many people would consider an identical product. It must be a less efficient market, and everyone pays some of that cost.
This same effect happens in lots of society. If there are many religions, you'll be further from your church/temple/mosque. If some groups don't drink, you'll be further from a pub. etc... I find the benefits of diversity vastly outweigh these drawbacks, but denying them is daft.
ps. one of the best ways to make up for almost all of these slight downsides of diversity is with the power of density. You're probably closer to a Church or a pub in a diverse part of central Birmingham or London than you are in a suburb of people very similar to you.

• • •

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

Keep Current with Tom Forth

Tom Forth 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 @thomasforth

Jan 30
I think I've done it. I think I've calculated fiscal transfers by Region/Nation/Country/State/City (I'm not taking any chances on the outrage replies) for both the UK and Germany. And I feel like they're probably pretty close to comparable too.
The caveat (but also a strength I think) is that they're for 2010. And a lot has changed since 2010. So if you like what the data shows you can say that it shows exactly what you like. And if you don't like what the data shows you can say it's out of date and irrelevant. 🤣🤣
WITH HUGE CAVEATS THAT IF PEOPLE START SHOUTING AT ME THAT IT'S WRONG THEY'RE PROBABLY RIGHT --- (and also that the data is 2010 and a lot has changed since then).
Read 12 tweets
Jan 30
I assume that Mr. France Insoumise will not soumise himself to the verdict of the French left's Presidential candidate selection. But maybe I should check.
Seems I was right. And seemingly most of the other too. Good thing the French presidential system isn't one that heavily punishes a divided left eh? 🙃
I'm not surprised that the left are struggling to unite. It's hard to create a common enemy in a country whose taxes are already the highest in the world, where poverty is quite low, where housing is pretty good, and where the current government is largely functional.
Read 4 tweets
Jan 30
"What if all workers wrote software, not just the geek elite?" > a very interesting piece. I remain a huge proponent of the world's most mature low code/no code software --- Microsoft Excel. It sounds like Microsoft haven't stopped there. economist.com/business/2022/…
“A field worker making something for other field workers is hugely valuable as the feedback loop is faster,” is the best quote. Spot on.
"The interface may look cluttered: the landing page jams in 150 buttons and a local-news ticker—the app equivalent of an airplane cockpit," > is another very important line. A lot of what low code/no code is going to offer will horrify a lot of the existing field. Good.
Read 6 tweets
Jan 29
Hypothetically,... if this levelling up white paper is 400 pages,... even I'm going to struggle to read that.
It'll be very heavy "complexity and nuance" British bullshitting if the UK government's levelling up white paper is a thousand pages of complexity and nuance to make highly-educated people feel clever, but then the railways aren't electrified and Leeds has no tram.
Read 4 tweets
Jan 27
Much better a trip on a private jet than lying about it which is what the current PM would do.
Also. Foreign Secretary of a top six world power. Until an election, she's pretty important.
Read 4 tweets
Jan 25
Preparing some data for a thing. Astonishing. Image
I know what the answer is going to be. But then I see the answer and it's just even more.
Part of why Saxony outperformed South Yorkshire is EU spending. Much more happened in East Germany, in part because their economies were weaker. But it's actually not much money. German fiscal transfers were over 10 times greater. open-innovations.org/projects/jrf/e… ImageImage
Read 14 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

Too expensive? 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 on Twitter!

:(