RealityNow

9 ms·

31.
by RealityNow 9y ago
This is counteracted by the fact that employees now have the option of walking away from their jobs, and thus employers would have to raise wages to draw them in. Wages might rise in the type of jobs that nobody actually wants to do (eg. ja
32.
by RealityNow 9y ago
Well I already explained why GDP, the core metric economists fixate on, is flawed and incomplete. Unemployment rate as well is incomplete in that it doesn't account for those who drop out of the labor force (not to mention it says noth
33.
by RealityNow 9y ago
Buying a stock on the secondary stock market is not investing in the economy. Buy that logic, high-frequency traders are investing in the economy. > If that were true, banks wouldn't need deposits That doesn't follow from what
34.
by RealityNow 9y ago
It's simple - if the private labor market is failing to provide something, then the government needs to step in to make it happen. This could be via subsidies/grants, creation of research institutions (like the university in the a
35.
by RealityNow 9y ago
Fantastic article, we've truly been seeing a bifurcation of the workforce, and the development of a plutonomy. The interests of capital and labor are inherently opposed because the incentive of the employer is to reduce costs, and capi
36.
by RealityNow 9y ago
Parking money in index/hedge funds is not "investing it back in the economy". Bank lending is driven by demand, not deposits.
37.
by RealityNow 9y ago
I agree, but how would we enforce a wealth tax? Seems like it'd be really easy for rich people to hide their money in assets. What about just printing money? Not ideal obviously, but there'd be no way to avoid the inflation "
38.
by RealityNow 9y ago
Call it what you want, but it is most definitely not even close to on the same level of rigor as a hard science like physics or chemistry. Nor can it ever be even comparable to a field like psychology because economics is inherently politic
39.
by RealityNow 9y ago
It's impossible to come up with objective metrics as to how a society should be organized and what it should prioritize because that is an inherently political endeavor. That's why economics will never be a science, just like poli
40.
by RealityNow 9y ago
Not sure if you were being sarcastic, but to equate criticizing capitalism to being a "flat earther" is absurd. Economics is not a science. Capitalism has a ton of flaws, just talk to the masses in poverty in America. The fact tha
41.
by RealityNow 9y ago
Capitalism is indeed a religion, and the definition of capitalism has changed over time to become more towards laissez-faire. Now we're at a point where any sort of government action aside from cutting taxes is considered "sociali
42.
by RealityNow 9y ago
Well read "Bad Samaritans" to see why the consensus amongst economists is wrong. There isn't a single first world country that developed under free trade. The US and the UK were highly protectionist with steep tariffs, and it
43.
by RealityNow 9y ago
Debt, the first 5,000 Years (David Graeber) - Learned that most of history has been communist (eg. hunter gatherer societies), shops of the past were run on credit (eg. tally sticks), money/capitalism tended to emerge with the rise of
44.
by RealityNow 9y ago
The reality is that you need your job more than your employer needs you. We're all replaceable, and this is further exacerbated by technology and outsourcing. Hiring in the tech industry where senior engineers have to go through multip
45.
by RealityNow 9y ago
If you inherit $1m+, you can live off of that and not work a day in your life (or at least severely increase how much money you save) while the rest of us toil away as wage slaves for 40+ years.
46.
by RealityNow 9y ago
So far he's basically just (unsuccessfully) attempted to roll back Obama's progress on healthcare, ban Muslims, build a wall to keep out the Mexicans, and give legitimacy to white supremacists. He's surrounded himself with Go
47.
by RealityNow 9y ago
It's all relative. I'm just saying that someone who's talented enough to get a job at Google could probably land a cushy remote gig and live somewhere dirt cheap, saving more money and enjoying a higher quality of life.
48.
by RealityNow 9y ago
I think Jamie Dimon said it best, it's almost embarrassing to be an American these days. Homeless people everywhere, mentally insane people screaming on the streets, rude classless people (in the ghetto), failing infrastructure, a narc
49.
by RealityNow 9y ago
Factor in cost of living in the bay area and it's not quite as glamorous as it sounds
50.
by RealityNow 9y ago
This is why I never understood the obsession with working for the big prestigious corporations like Google and the unicorns. As far as I'm aware, they don't allow remote work and working from home without an excuse correct?
51.
by RealityNow 9y ago
Just because he's not referencing a survey or study doesn't make it useless data. Anecdotal data is not useless. There's been a noticeable increase in effeminate men in NYC over the last 6 years. Maybe it's due to the in
52.
by RealityNow 9y ago
I think all those are contributing factors, and you're right - it's not just the result of one thing. It seems to be the result of a successful PR campaign on behalf of economists like Milton Friedman and the wealthy elites who st
53.
by RealityNow 9y ago
This is due to the entrenchment of neoliberalism since the 70s (famously Reagan in the 80s), the ideology that government's sole responsibility is to enforce free markets, any other function of government is bad, and that every aspect
54.
Why we should only work 15 hours a week(smh.com.au)
31 points by RealityNow 9y ago|4 comments
55.
by RealityNow 9y ago
Even if the author's premise that women were "crowded out" of programming 40 years ago is true, that does not imply that “innate dispositional differences” between sexes don't influence one's tendency towards pursui
56.
by RealityNow 9y ago
Even if the author's premise that women were "crowded out" of programming 40 years ago is true, that does not imply that “innate dispositional differences” between sexes don't influence one's tendency towards pursui
57.
How Women Got Crowded Out of the Computing Revolution(bloomberg.com)
2 points by RealityNow 9y ago|2 comments
58.
by RealityNow 9y ago
That parking lot comment has to be one of the best characterizations of American downtown areas I've heard. Well said.
59.
by RealityNow 9y ago
NYC is a pretty terrible city to live in by first world standards unless you're wealthy. Crappy shoeboxes in tenement buildings that used to house servants go for outrageous prices, overcramped, awful subway (though Americans think it&
60.
by RealityNow 9y ago
> How exactly would you change downtown Manhattan such that anyone & everyone who wanted to live there could? That's not what we should be striving for. We should be striving to allow people to comfortably live and work outside

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