Suncho

18 ms·

91.
by Suncho 9y ago
> Doing some back of the envelope math, US gov revenue is 3.31 trillion and the population size is 323.1 million. Which leaves about $10244 per capita to play with. The government doesn't face what we would think of as a typical bud
92.
by Suncho 9y ago
> How's that? It's what I'm working on right now: http://www.greshm.org > > The right question is "how do we unlock the economy's prosperity-maximizing capacity?" > Asked and answered: f
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by Suncho 9y ago
> The government can’t be trusted not to devalue our currency Governments can often be trusted to maintain a stable value of currency. That's why fiat currency out-competed gold and why Bitcoin will never be able to compete with a
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by Suncho 9y ago
I largely agree with what's being said in this interview, except for a few comments: > "But in countless ways it’s much harder to convince lawmakers and politicians to give every person in the country cash gratis than it is to
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Economists Are Obsessed with Job Creation(evonomics.com)
3 points by Suncho 9y ago|0 comments
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by Suncho 9y ago
> Well, the money has to come from somewhere. Sort of. > If you have a homogenous group, all with the same income/wealth, then UBI would do nothing. True. In this scenario, demand is already as elastic as it's going to get.
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by Suncho 9y ago
> I thought it was "universal" because it was meant to replace all social welfare programs with a basic income.. No. Universal just means everyone gets it. In fact, the word "universal" is redundant in the term &quo
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by Suncho 9y ago
> The theory seems to be that when people have a safety net they'll better themselves with long term skills and grow the economy. That's certainly a theory. It's not a theory I subscribe to. Teach a man to fish and he&
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by Suncho 9y ago
> Is this only an issue if you print money to pay for the UBI? If UBI is payed for by taxes then it shouldn't devalue the currency. The amount of money the government can spend without causing inflation has very little to do with th
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by Suncho 9y ago
> It's been a while since I've done serious economic analysis. Please correct me if I'm wrong. =) > If you print money on a fixed schedule, the natural market response is to devalue the currency according to the same fi
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by Suncho 9y ago
> Why on Earth do you think producers will be unable to raise prices? One of the cool things about basic income is that because it distributes the incomes evenly, it flattens out the demand curve or increases the price elasticity of dema
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by Suncho 9y ago
Henry George was alive during a time when the amount of currency the government could create was constrained by the size of its gold reserves. These days, the amount of money the government is able to spend has very little to do with the si
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by Suncho 9y ago
I think there's plenty of disagreement over what the "point" of basic income is. Compensating people for unfortunate life circumstances is not at the top of my list. Maximizing social prosperity and stabilizing the economy w
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by Suncho 9y ago
> Land has a perfectly inelastic supply, and thus expectations of more income will lead to increases in rent. Sort of. But land is not a uniform commodity. Different parcels of land are subject different levels of demand. For a place
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by Suncho 9y ago
> UBI proponents should be cognizant of stagflation. Everyone should be. =) > In reality the Phillips curve was too simple. Yes. The Phillips curve relationship between inflation and unemployment only holds under certain conditions.
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by Suncho 9y ago
Part 2 of my feedback: > The joint-stock company was one of the most important inventions in human history. It allowed us to align a lot of people in pursuit of a common goal and accomplish things no individual could. Obviously, the US
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by Suncho 9y ago
Hi Sam, I hope you're ready for a wall of text. Had to break this into multiple posts... I have several comments about what you're proposing, to the extent that I understand it. > I think that every adult US citizen should get
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by Suncho 9y ago
By definition, all labor-saving technology costs jobs. That is, unless you do something to compensate for it, like produce more total stuff than you used to. And, of course, more total stuff will only get made if people are willing to spe
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by Suncho 9y ago
>>Once everyone else realizes the superiority of cryptocurrency, they will all want to switch over, and the value of fiat currency will collapse. >You really think so? I didn't write the blog post, but I think it's pr
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by Suncho 9y ago
This is part of why cryptocurrencies like Bitcoin and Ethereum can never become true currencies. They pretend that credit does not exist. I'm skeptical that a decentralized monetary system is even possible.
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Cryptos Fear Credit(perrymehrling.com)
3 points by Suncho 9y ago|3 comments
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by Suncho 9y ago
I don't know if a shift in attitude would help, at least not in aggregate. It might work for one person, but if everyone did it, then it could end up being a wash or we could see other weirdness.. If everybody started saving 10% of th
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by Suncho 9y ago
To be fair, they're mostly talking about macroeconomics.
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by Suncho 9y ago
Yes. You miss a lot. Effective Modern C++ is not an update of the original. It's more of a supplement that covers the new stuff.
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by Suncho 9y ago
You can't design a cryptocurrency with stable value. At least not without a central monetary authority anyway. A key selling point of cryptocurrency is that it (theoretically) exists outside of the influence of a central authority.
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Rep. Chris Lee on Basic Income Legislation in Hawaii(thebasicincomepodcast.com)
2 points by Suncho 9y ago|0 comments
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by Suncho 9y ago
To the extent that people have a "need to be needed," we should ask ourselves what the most efficient way to meet that need is. Perhaps the answer is to keep "make-work" jobs around. Of course we'd hide the pointl
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GDP Is Wrong and Trade Deficits Are Good(suncho.com)
1 points by Suncho 9y ago|0 comments
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by Suncho 9y ago
I don't understand. What do you mean by "get the monetary side right"? What does that look like to you? What's wrong with central bankers tightening in response to fiscal expansion? From where I'm sitting, centra
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by Suncho 9y ago
> Wouldn't that eventually lead to a 'collapse of rome' type situation? No. Intuitively, it seems like piling up mountains of debt would lead to a default (or default equivalent) some day in the future. But if you're

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