duxut_staglatz

9 ms·

31.
by duxut_staglatz 7y ago
So why has inequality not grown exponentially? There are many periods where it is about constant and/or declining.
32.
by duxut_staglatz 7y ago
What is the non-moral argument for "wealth creators" to keep their wealth?
33.
by duxut_staglatz 7y ago
It's called curve fitting (or machine learning if the techniques used are fancy enough).
34.
by duxut_staglatz 7y ago
I am not sure how your point implies that the current level of inequality is either optimal or too low
35.
by duxut_staglatz 7y ago
No, but there is no reason to expect that we are at the optimal level on inequality either.
36.
by duxut_staglatz 7y ago
Not if g >> r, of course.
37.
by duxut_staglatz 7y ago
So should we have more inequality to have more of all those things, then?
38.
by duxut_staglatz 7y ago
It is very similar to what economists do, I am not sure where you find a difference.
39.
by duxut_staglatz 7y ago
Is there any evidence that it is?
40.
by duxut_staglatz 7y ago
Many things in the economy follow a power law, see [0] for instance [0] https://www.nber.org/papers/w14299
41.
by duxut_staglatz 7y ago
Then we should have more growth _and_ a better distribution of the gains from growth. But merely better distribution without growth leaves us in the USD17k scenario. The original comment point is that there is that growth is needed (but not
42.
by duxut_staglatz 7y ago
Sorry, empirical evidence should not inform our thinking because it is too shaky. Please either assume one of those two outcomes is correct.
43.
by duxut_staglatz 7y ago
Yes, indeed. But growth does matter if it reaches the people, which is scythe's point.
44.
by duxut_staglatz 7y ago
Which goes back to scythe's point: is USD 17k (with US prices) enough to live on, even if we do not have to work? If yes, we do not need growth; if it would be better to have more, then we need growth.
45.
by duxut_staglatz 7y ago
It seems far fetched to assume that people's preferences will change just in the right way that there is always increasing welfare from the same basket of goods.
46.
by duxut_staglatz 7y ago
Once the best allocation of currently existing ressources have been implemented, then there would no longer be any growth.
47.
by duxut_staglatz 7y ago
Which leads to the question: if "because I assume so" is evidence enough for making statements, how do you sort of the conflicting predictions of one theory based on "I assume so" and another based on as much evidence? T
48.
by duxut_staglatz 7y ago
In your automation story, is there the same amount of goods that produced right now (but with less labor) or more goods?
49.
by duxut_staglatz 7y ago
The more accurate question is do you want to live with whatever goods can currently be bought with USD 17k in the US today?
50.
by duxut_staglatz 7y ago
Econometrics (aka stats for economists) is how we test models on real data. It seems to often be confused with the idea of using math in econ however ("reducing irrational economic actors into mere equations" seems to me to be eco
51.
by duxut_staglatz 7y ago
How do we know whether this system of knowledge actually describe our world?
52.
by duxut_staglatz 7y ago
If we look at union membership (which is different than being covered by collective bargaining agreements), the US (10%) has a lower union density than Switzerland (17%) and about the same than France (8% or 10%). See https://sta
53.
by duxut_staglatz 7y ago
See [0]: > Audrey Dussutour and David Vogel had already trained slime molds to move past repellent but harmless substances (e.g. coffee, quinine, or salt) to reach their food. They now reveal that a slime mold that has learned to ignore
54.
by duxut_staglatz 7y ago
You changed your argument from (or at least, what I understood to be your argument): 1. Bankers are primarily interested by money, which includes employees of the Swedish central bank 2. There is a conflict of interest because the prize is
55.
by duxut_staglatz 7y ago
Again, would a government economist from a (hypothetical) administration dedicated to financial regulation and interest rate setting have a personal motivation for choosing economics as a career? If no, why does it change anything that this
56.
by duxut_staglatz 7y ago
Central banks are Schrödinger institutions, both described as banks to link them to actual private banks when it suits one's argument, and also to the government agency (that they are) when it suits one's argument. This makes me w
57.
by duxut_staglatz 7y ago
Saying _a_ Swedish bank is misleading, since it is the central bank of Sweden. If instead of "central bank" they had called it "federal money & banking administration", suddenly the negative connotation would be (mos
58.
by duxut_staglatz 7y ago
The argument of this article is strange. The "randomista" revolution essentially states that we know (or knew) very little about what actually work to foster development and that RCTs are the best tool we have to obtain this knowl
59.
by duxut_staglatz 7y ago
This is indeed a limit of my analogy. A closer equivalent would be bootcamp for enlisted personel.
60.
by duxut_staglatz 7y ago
Typo : it does _not_ grant degrees.

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