Sad to hear that Keynes’ biographer Robert Skidelsky has died. He was a force for good in the economics world. Sadly had some lapses in judgment later in life, but his overall legacy is a positive one.
bsky.app/profile/rimi...
Fascinating paragraph from Scott Alexander, where he admits he’s the dog that caught the car
Oh good, I’m sure the discourse on this will be balanced and non-hysterical
www.bbc.co.uk/news/article...
Marshall did something much more effective than changing the answer. He changed the question. For Ricardo the Theory of Value was a means of studying the distribution of total output between wages, rent and profit, each considered as a whole. This is a big question. Marshall turned the meaning of Value into a little question: Why does an egg cost more than a cup of tea? It may be a small question but it is a very difficult and complicated one. It takes a lot of time and algebra to work out the theory of it. So it kept all Marshall's pupils preoccupied for fifty years. They had no time to think about the big question, or even to remember that there was a big question, because they had to keep their noses right down to the grindstone, working out the theory of the price of a cup of tea.
I find Joan Robinson very useful here, when she talks about how that Marx followed Smith and Ricardo and then Marx asked big questions of value, while Marshall turned them into little questions of price. www.economicpolicyjournal.com/2019/05/joan...
The time between fossil fuel crises is just going to keep shrinking, until there's no discrete single "crisis" - just one unbroken prolonged state of global suffering due to fossil fuel unreliability
The best time to ditch fossil fuels was 30 years ago. The second best time is now
that's a fair point, and though the desire to be 'on top' may stem from a bad place, it could also stem from a reasonable place of wanting to be the provider
Watched the latest from @unlearnecon.bsky.social and thought it was interesting. Have a watch and see what you think. #EconSky youtu.be/Vhts1xt1ZQQ?...
If you had kept watching just a little bit longer, you would have heard me make this exact objection!
bsky.app/profile/lone...
On 🏝️ @srslywrong.bsky.social 🏝️ ep361 the Wrong Boys explore why the economy is so uneven with Cahal Moran, economist and host of the youtube channel @unlearnecon.bsky.social, in a conversation discussing the problem of the economy and what we can do about it.
srslywrong.com/podcast/361-...
Went on the high-effort podcast @srslywrong.bsky.social and it was super fun, they even let me join in on their little skits!
srslywrong.com/podcast/361-...
It's funny that I instinctively went to this example because the full quote actually mentions Freakonomics and Levitt!
bsky.app/profile/john...
Come to think of it, books written *within* their expertise regularly contain revelations like "globalisation isn't always good" and "people aren't entirely rational"
I'd be more sympathetic to this viewpoint if economists' books outside their expertise didn't say things like "black people should stop naming their kids Roshanda"
bsky.app/profile/duhe...
Agree with this. After teaching about 'Nudges', this is a real eye opener conversation between @unlearnecon.bsky.social & Nick Chater. We've been given some book vouchers by students and will certainly be buying this book - It's On You. And we love the term 'internalities' as well! #EconSky
Anyone remember when people like this were complaining about participation trophies?
bsky.app/profile/acyn...
Wonderful conversation on @unlearnecon.bsky.social's live channel regarding behavioural science. Worth a listen for all who are skeptical that "nudging" people toward better choices can solve our societal issues!
www.youtube.com/watch?v=vxAN...
Look what just arrived! THE ASSET CLASS is out on 9 April with @wnbooks.bsky.social - you can read more about it and pre-order through my website (I’ll also be posting in the coming weeks on there about events I’ll be doing in April, May and beyond)
Guess the government should hire lots of actual experts and direct resources towards the policy areas then!
bsky.app/profile/anth...
Holding up well
omg
bsky.app/profile/john...
I don’t see why a 15-second sliding context window with the working memory of a goldfish and fake l/t memories should not be subject to short-term capital gains taxes on everything (including unrealized gains) and a 100% inheritance tax.
I hope everyone’s got your Minsky books somewhere where you can reach them easily. giftarticle.ft.com/giftarticle/...
One of the dumbest narratives that has emerged about the UK economy is that net zero is what’s holding it back. I’m not sure how anyone can thinking switching to renewable energy is a cost at this stage
www.theguardian.com/environment/...
ah yes, a great channel
that was worth reading and there is no view from nowhere...but there is an obvious bias!
Off the top of my head:
- Tel Aviv destroyed, media hiding it
- Iran badly losing; their govt hiding it
- US being bankrupted, China enjoying it
- Russia doing nothing
- Russia supporting Iran
- US/Israel mounting another genocide, nobody noticing
Any more?
The sheer volume of narratives about the Iran War on social media makes it impossible to keep up with what's actually going on.
FT comments section this morning - saying what everyone else is thinking, right?
kind of crazy that if you have enough money and don't like what you see in the media, you can just buy up every film studio, news station, and social media app and change it