Suncho

11 ms·

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Taxes for Revenue Are Obsolete (1946) [pdf](bilbo.economicoutlook.net)
2 points by Suncho 8y ago|1 comments
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by Suncho 9y ago
Yes! Alexander Stepanov is fantastic. He's the designer of the Standard Template Library (STL) for C++, which is C++'s core library of generic algorithms. It's part of the standard libary. If you can understand how to use
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by Suncho 9y ago
Economics of Money and Banking, taught by Perry Mehrling on Coursera: https://www.coursera.org/learn/money-banking It's just fantastic. He explains what money really is from the perspective of treating everyone a
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by Suncho 9y ago
Hmm. I'm not sure I fully understand the question. Anyone who wants a country's assets and budget spending to be transparent would be free to run a node. And there's nothing about a traditional distributed database that pr
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by Suncho 9y ago
The problem is that, as a technology, blockchain does almost nothing new. It's a much slower and less-efficient version of technology that already works correctly (i.e. the distributed database). The only thing that proof-of-work (or
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Zealots of the Blockchain: The true believers of the Bitcoin cult(thebaffler.com)
2 points by Suncho 9y ago|0 comments
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by Suncho 9y ago
> When the government borrows the money, they have to pay it back, or at least pay interest on it. Sort of. Each individual debt obligation has to be repaid as it comes due, but that's different from saying that total volume of deb
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by Suncho 9y ago
> Labor is the source of all wealth, not government. Neither labor nor government is the source of all wealth. There is no one source of all wealth. Not all wealth is produced in the economy, but for the wealth that is, the source of t
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by Suncho 9y ago
> Would you agree productivity per labor hour must go up under UBI to be successful? No. Keep in mind that labor is just one among many resources that we use in production. Our economy has a lot more resources (including labor) at its
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by Suncho 9y ago
Different people have different ideas of what a basic income is. The definition I first learned is that the "basic" in basic income means that it forms a base upon which you can build further in come. It's not about satisfy
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by Suncho 9y ago
> When did a fiat currency win out over gold? It happened gradually. But wars usually put stress on the gold system. They caused the fault lines to slip, so to speak. The US Dollar was the last major currency tied to gold and we finall
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by Suncho 9y ago
I'm self taught mostly from books and MOOCs and arguing with friends of mine who are actual economists. Perhaps my lack of formal economics training is another reason not to listen to me. If you're interested in going deep on thi
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by Suncho 9y ago
> > By giving people money to spend, it unlocks the economy's potential to produce wealth for the people. > This is a corollary to the myth that wealthy people hoard cash. They do not. It depends on your definition of "ho
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by Suncho 9y ago
> > If the government spends and the economy responds productively to that spending, then you're fine. Taxing is a separate issue. You should only really tax when you want to remove money from a specific part of the economy. >
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by Suncho 9y ago
Good points. > if you're talking about their freedom to do something...if you're talking about society in general it seems obvious that certain behaviors are bad and should be discouraged Okay. So you want to discourage people
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by Suncho 9y ago
> Doesn't moving out of the cities, and as you state, away from jobs exacerbate the number of people who will no longer be employed? Depends on what you mean. A couple questions: 1. Is it a problem for people not to be employed? 2.
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by Suncho 9y ago
> So non-resource limited prices may remain low, but couldn't most of it be captured by those items that are limited? Yes. And that's a very good point. For example, we might have the resources to feed the world, but we don&#
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by Suncho 9y ago
> What are the pointless jobs you're referring to? They're everywhere. We could have let GM die. We could abandon all tariffs on imports. Any time a policymaker uses "job creation" as a selling point for a policy i
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by Suncho 9y ago
Hmm. Not off the top of my head. The intuition is pretty straightforward though. Imagine the difference between doubling total amount of money in the economy by either: a. doubling the amount of money each individual person has. b. distr
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by Suncho 9y ago
> Doesn't UBI reduce the economic productivity by both driving up the cost of labor through increased taxation No. First of all, there's no reason that basic income has to have any taxes associated with it. A common mistake p
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by Suncho 9y ago
> There would be no guarantee that people would use that money for basics like housing and food. Why would you want such a guarantee? You don't think people who need housing and food will buy housing and food with their money? I m
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by Suncho 9y ago
No. And the reason is that by distributing the new money evenly, you're increasing the price elasticity of demand. Instead of increasing the amount of money people are willing to pay for goods, you're increasing the number of
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by Suncho 9y ago
> If the benefit requires other subsidies for recipients to survive, does it actually fit the definition of UBI? Different people used different definitions of basic income. As far as I know, the most commonly accepted definition says n
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by Suncho 9y ago
> Isn't the main benefit of UBI to make it so everything is streamlined into a single program and administrative overhead is reduced? I would say no. The main benefits of basic income are increased levels of economic stability and
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by Suncho 9y ago
Sorry. I'm scattering everything around. You can read more about my basic income project here: http://www.greshm.org If you don't feel like clicking the link, I'm developing a USD-backed basic income system that
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by Suncho 9y ago
> The question I’m interested in: How do we unlock maximum human potential? > Last I checked, welfare does the opposite of this. It helps people merely subsist, not strive for greatness. It depends what you mean by "human poten
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by Suncho 9y ago
1. Why is it a problem for people to spend their money how they choose? If people buy drugs and cheetos or whatever, then isn't that their call? If people who need housing have the money to buy housing, but they're not buying buy
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by Suncho 9y ago
> If I were Sam A. instead of (or in addition to) funding UBI, I would fund R&D projects which enable people to live as off grid and self-sufficiently as possible with all the comforts of urban/suburban living without all the co
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by Suncho 9y ago
> The math doesn't work and has never worked. UBI proponents will never talk math because it doesn't add up, even with the most casual analysis. I'm happy to discuss the math with you any day of the week. One of the bigge
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by Suncho 9y ago
I agree with your plan of gradually ramping up the amount of the basic income to find the optimal amount. However, I would question a couple parts: > every US resident who has been a US citizen for at least X years Why limit it in this w

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