This is reason's Typepad Profile.
Join Typepad and start following reason's activity
Join Now!
Already a member? Sign In
reason
Recent Activity
What really annoys me is when I have a very specific need, and what I need doesn't exist at all. There are thousands of things in the market but very often not what you actually want. (Of course this is most often the case with screws - and even if what you want is available you can't buy 1 you have to buy 10).
Toggle Commented 4 hours ago on Links for 12-07-16 at Economist's View
1 reply
I mean that experts are an elite (people selected for their special knowledge - elite has the same root as elect).
Toggle Commented 5 hours ago on Links for 12-07-16 at Economist's View
1 reply
Yes, but if this is a year in advance then Qs (t+1) evaluated at t and Qs (t+1) evaluated at t+1 are different and the same with Qd(t+1). It is not the exchange that is the key point, but the necessity of forecasting. But yes, it makes the story much more complicated.
Toggle Commented 9 hours ago on Links for 12-07-16 at Economist's View
1 reply
Almost certainly this doesn't mean a net of 50000 new jobs but a relabeling or replacement of existing jobs. I'm sure Sprint isn't planning to expand the saturated mobile phone market.
Toggle Commented 10 hours ago on Why Not Centrism? at Economist's View
1 reply
This piece from Digby is interesting http://www.salon.com/2016/11/17/sore-winner-syndrome-why-are-donald-trumps-supporters-still-so-angry-abraham-lincoln-understood/ but I feel it overstates the size of the problem. The sore winners are a small extreme minority. At least I hope so.
Toggle Commented 10 hours ago on Links for 12-07-16 at Economist's View
1 reply
One thing, I'm sort of wondering about and wonder what other people think. It seems to me that Libertarians have gone quiet. They used to be everywhere and quite cocky. I don't get that feeling anymore.
Toggle Commented 10 hours ago on Links for 12-07-16 at Economist's View
1 reply
From what Nick wrote he meant I=S not IS-LM.
Toggle Commented 10 hours ago on Links for 12-07-16 at Economist's View
1 reply
But he misses the crucial point of drawing a distinction between ex-ante and ex-post which was the great contribution of Keynes. Time is missing from equilibrium economics, but time is crucial. General equilibrium has a lot to answer for. Nowhere in the world are there complete futures and insurance markets.
Toggle Commented 10 hours ago on Links for 12-07-16 at Economist's View
1 reply
Tariffs don't increase AD, but they might redirect some of AD from international to domestic suppliers. i.e. They increase DOMESTIC AD.
Toggle Commented 10 hours ago on Trade, Facts, and Politics at Economist's View
1 reply
Inflation is the wrong term here. It is instead a once off change in the terms of trade. i.e. I produce something and exchange it now for less.
Toggle Commented 10 hours ago on Trade, Facts, and Politics at Economist's View
1 reply
Hurray for Nick Rowe http://worthwhile.typepad.com/worthwhile_canadian_initi/2016/12/why-is-is-a-bad-place-to-start-doing-macro-again.html
Toggle Commented 10 hours ago on Links for 12-07-16 at Economist's View
1 reply
P.S. I think how we want to achieve things is a job for EXPERTS. After all, if we want to design a house we decide what we want of the house and we get an architect to design it. We don't expect that we know enough to do it ourselves. That is what we want an elite for. The last thing we want an elite to do is to decide what we want to achieve.
Toggle Commented 11 hours ago on Links for 12-07-16 at Economist's View
1 reply
Just to back to past, this ties in to other things that I have said: http://www.interfluidity.com/v2/6400.html Our problem today is that we seem all to have adopted a wrong theory of politics. We concentrate FAR too much, on how we want to achieve things, and FAR too little on what we want to achieve. We keep trying to find pareto optimum solutions and forget completely that the easiest way to increase total utility is to take a dollar from a rich man and give it to a poor man.
Toggle Commented 11 hours ago on Links for 12-07-16 at Economist's View
1 reply
A rather Quixotic piece from George Monbiot (who I regard as a treasure, a man prepared to question everything). https://www.theguardian.com/commentisfree/2016/dec/06/mcdonalds-democracy-corporate-globalisation-trump-le-pen-farage
Toggle Commented 11 hours ago on Links for 12-07-16 at Economist's View
1 reply
Well worth reading: http://www.motherjones.com/kevin-drum/2016/12/trump-era-crony-capitalism-has-officially-started
Toggle Commented 11 hours ago on Links for 12-07-16 at Economist's View
1 reply
Instead of a rebate on the first X dollars of VAT paid, why not just a cash transfer. Identifying who is doing the spending on every transaction (needed for such a rebate) has civil liberty implications.
Toggle Commented 11 hours ago on Links for 12-06-16 at Economist's View
1 reply
We came in with a survey question. What you just said suggests that some people may have understood the question differently, which rather reduces the value of the survey.
1 reply
The incidence of just about all taxes ends up in long term falling on rents of one kind or another (since rents are bidding for scarce resources, and if the money is not there the resources will not be bid for). But on the other hand, it is a bad mistake to look at individual taxes and transfers in isolation and not consider the system as a whole. I know the awful US political system makes it hard to take a holistic approach to anything, but in my view what is most important is not whether any specific component is progressive or regressive, but how all the different components work together as a whole.
Toggle Commented yesterday on Links for 12-06-16 at Economist's View
1 reply
Economic Security? Not an issue? Or education? Or democracy itself?
Toggle Commented yesterday on Links for 12-06-16 at Economist's View
1 reply
They have risen less slowly than in the rest of the Euro zone. This is well known. It is only recently that recession elsewhere has reversed this. And I live an work in Germany and my real wages have definitely been going down.
1 reply
One off increases in prices (i.e. a change in the price LEVEL) is not inflation (a change in the rate at which the price LEVEL changes over time). I wish people would learn to understand derivatives.
Toggle Commented yesterday on Trade, Facts, and Politics at Economist's View
1 reply
The problem is not the elite bit, the problem is the meritocratic (well not really) bit. See http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2006/10/against_equalit.html
1 reply
The upside of this, was more attractive cities and jobs as the work was done, the downside is that locals don't own any of the buildings and paying rent drains money from the East to the West, which is particularly a problem after the work is completed. See my other comments on places being drained of money.
1 reply
But what was done, was considerable investment in infrastructure and urban renewal (especially Dresden, Leipzig and East Berlin).
1 reply
The wages have converged mostly by wages in the West heading (slowly) down.
1 reply