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> Nope. Friction is modelled micro and macro economically, which much of the research focusing on the systemic effects of seemingly-insignificant frictions. Wh
by quotemstr 1y ago
> Nope. Friction is modelled micro and macro economically, which much of the research focusing on the systemic effects of seemingly-insignificant frictions.
Which frictions capture the concepts I'm describing? I'm not talking about transaction costs. I'm not talking about search frictions. I'm not talking about information frictions. I'm talking, ultimately, about how economists don't model social cohesion itself as a factor of production and fail to account for it when optimizing for consumer surplus. When markets train people to treat every interaction as zero-sum, the consequent mass cynicism itself imposes severe transaction and opportunity costs on society. Revealed preferences are differently welfare-maximizing under different market structures! And don't bullshit me about economists taking this effect into account. Who models social capital depreciation? Give me names.
You people have all the mathematical tools to model welfare. You just don't deign to do so.
- JumpCrisscross 1y ago> how economists don't model social cohesion itself as a factor Again, did you even bother to look? > When markets train people to treat every interaction as zero-sum Not how every economic interaction is modelled in even toy models. > Revealed preferences are differently welfare-maximizing under different market structures …yes. > You people have all the mathematical tools to model welfare. You just don't deign to do so I can’t tell if this comment thread is just a desire to rant. To third parties, yes, this is all modelled. Not perfectly. But not due to lack of effort. There are lots of things thrown out above, so I’m not going to chase down citations for someone who is unlikely to read them, given many should be findable within minutes of googling.