#economicmodels — Public Fediverse posts

Federal Reserve Bank of Atlanta

The growth rate of real gross domestic product (GDP) measured by the US Bureau of Economic Analysis (BEA)…
#Economy #economicmodels #FederalReserveSystem #forecast #forecasting #GDP #gdpnow #grossdomesticproduct #Inflation #nowcast #nowcasting
https://www.europesays.com/2734060/

I find it just amazing, that these two guys who actually have a solution to what’s wrong with #economics these days, get like 7K views on youtube.
While doomsayers who work with false models saying we can’t afford anything ever again get the royal treatment. 🤷‍♂️

https://youtube.com/watch?v=Z_JhHZlhMak

#postkeynesianeconomics #economicmodels

Federal Reserve Bank of Atlanta

The growth rate of real gross domestic product (GDP) measured by the US Bureau of Economic Analysis (BEA)…
#Economy #economicmodels #FederalReserveSystem #forecast #forecasting #GDP #gdpnow #grossdomesticproduct #Inflation #nowcast #nowcasting
https://www.europesays.com/2655303/

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

https://newsmast.social/@newsmast/114613185578761343

long post? #socialscience #socialsciences #economics #geography #psychology #Economicmodels #clinicalpsychology #cognitivepsychology #developmentalpsychology #economist #sociology #statistics #anthropology #datascience #SocialPsychology #politicalscience #austerity #recession #ECB #FED #IMF #WTO #psychotherapy #cognitivebehaviouraltherapy #CBT #pyschoanalysis #behaviorism #pyschology #neuroscience #DataVisualisation #geopolitics #particlephysics #QuantumMechanics #physics #quantumphysics #molecularphysics #nuclearphysics #modernphysics

https://newsmast.social/@newsmast/114613185578761343

long post? #socialscience #socialsciences #economics #geography #psychology #Economicmodels #clinicalpsychology #cognitivepsychology #developmentalpsychology #economist #sociology #statistics #anthropology #datascience #SocialPsychology #politicalscience #austerity #recession #ECB #FED #IMF #WTO #psychotherapy #cognitivebehaviouraltherapy #CBT #pyschoanalysis #behaviorism #pyschology #neuroscience #DataVisualisation #geopolitics #particlephysics #QuantumMechanics #physics #quantumphysics #molecularphysics #nuclearphysics #modernphysics

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Finance Watch warns: Economic models underestimate climate risks https://www.euractiv.com/section/economy-jobs/news/finance-watch-warns-economic-models-underestimate-climate-risks/?utm_source=dlvr.it&utm_medium=mastodon #climaterisk #climaterelatedfinancialrisks #economicmodels

Anyway, the reason I bring up Downfall is that I was trying to think of simple but roughly accurate analogy for the way market economies work. One with a colourful, physical model, so that examples of economic activity could even be demonstrated on it for a web video.

Downfall seems perfect.

(2/?)

#economics #EconomicModels

How Economic Models Make Us Poorer, Sen. Elizabeth Warren Edition
"If you’re wondering why the U.S. has failed so miserably in developing a workable child care and early-childhood education system, consider the role of economic modeling.

In 2021, when the Congressional Budget Office (CBO) released its much-anticipated score for the cost of the child care provisions in the Build Back Better Act, it produced one headline number: $381.5 billion. This was what CBO estimated as the amount of money the government would lay out for child care.But that budget score badly missed the mark on the net cost of the program. It did not account for any of the savings predicted by reams of academic research on the long-term economic benefits of child care.[...]In other words, according to CBO, investing in our children and filling a wheelbarrow with $381.5 billion in cash (a big wheelbarrow) and setting it on fire would have exactly the same impact on our national budget and our nation.

To every CEO of a Fortune 500 company or owner of a small neighborhood restaurant, budget scoring like this must sound like a crazy way of doing business. After all, investments don’t just have costs—they also have benefits."

#Economics #Politics #EconomicModels #Capitalism #EconomicFallacies #PublicEpenditures
https://prospect.org/economy/2023-04-04-policymakers-fight-losing-battle-models/

How Economic Models Make Us Poorer, Sen. Elizabeth Warren Edition
"If you’re wondering why the U.S. has failed so miserably in developing a workable child care and early-childhood education system, consider the role of economic modeling.

In 2021, when the Congressional Budget Office (CBO) released its much-anticipated score for the cost of the child care provisions in the Build Back Better Act, it produced one headline number: $381.5 billion. This was what CBO estimated as the amount of money the government would lay out for child care.But that budget score badly missed the mark on the net cost of the program. It did not account for any of the savings predicted by reams of academic research on the long-term economic benefits of child care.[...]In other words, according to CBO, investing in our children and filling a wheelbarrow with $381.5 billion in cash (a big wheelbarrow) and setting it on fire would have exactly the same impact on our national budget and our nation.

To every CEO of a Fortune 500 company or owner of a small neighborhood restaurant, budget scoring like this must sound like a crazy way of doing business. After all, investments don’t just have costs—they also have benefits."

#Economics #Politics #EconomicModels #Capitalism #EconomicFallacies #PublicEpenditures
https://prospect.org/economy/2023-04-04-policymakers-fight-losing-battle-models/

How Economic Models Make Us Poorer, Sen. Elizabeth Warren Edition
"If you’re wondering why the U.S. has failed so miserably in developing a workable child care and early-childhood education system, consider the role of economic modeling.

In 2021, when the Congressional Budget Office (CBO) released its much-anticipated score for the cost of the child care provisions in the Build Back Better Act, it produced one headline number: $381.5 billion. This was what CBO estimated as the amount of money the government would lay out for child care.But that budget score badly missed the mark on the net cost of the program. It did not account for any of the savings predicted by reams of academic research on the long-term economic benefits of child care.[...]In other words, according to CBO, investing in our children and filling a wheelbarrow with $381.5 billion in cash (a big wheelbarrow) and setting it on fire would have exactly the same impact on our national budget and our nation.

To every CEO of a Fortune 500 company or owner of a small neighborhood restaurant, budget scoring like this must sound like a crazy way of doing business. After all, investments don’t just have costs—they also have benefits."

#Economics #Politics #EconomicModels #Capitalism #EconomicFallacies #PublicEpenditures
https://prospect.org/economy/2023-04-04-policymakers-fight-losing-battle-models/

How Economic Models Make Us Poorer, Sen. Elizabeth Warren Edition
"If you’re wondering why the U.S. has failed so miserably in developing a workable child care and early-childhood education system, consider the role of economic modeling.

In 2021, when the Congressional Budget Office (CBO) released its much-anticipated score for the cost of the child care provisions in the Build Back Better Act, it produced one headline number: $381.5 billion. This was what CBO estimated as the amount of money the government would lay out for child care.But that budget score badly missed the mark on the net cost of the program. It did not account for any of the savings predicted by reams of academic research on the long-term economic benefits of child care.[...]In other words, according to CBO, investing in our children and filling a wheelbarrow with $381.5 billion in cash (a big wheelbarrow) and setting it on fire would have exactly the same impact on our national budget and our nation.

To every CEO of a Fortune 500 company or owner of a small neighborhood restaurant, budget scoring like this must sound like a crazy way of doing business. After all, investments don’t just have costs—they also have benefits."

#Economics #Politics #EconomicModels #Capitalism #EconomicFallacies #PublicEpenditures
https://prospect.org/economy/2023-04-04-policymakers-fight-losing-battle-models/

How Economic Models Make Us Poorer, Sen. Elizabeth Warren Edition
"If you’re wondering why the U.S. has failed so miserably in developing a workable child care and early-childhood education system, consider the role of economic modeling.

In 2021, when the Congressional Budget Office (CBO) released its much-anticipated score for the cost of the child care provisions in the Build Back Better Act, it produced one headline number: $381.5 billion. This was what CBO estimated as the amount of money the government would lay out for child care.But that budget score badly missed the mark on the net cost of the program. It did not account for any of the savings predicted by reams of academic research on the long-term economic benefits of child care.[...]In other words, according to CBO, investing in our children and filling a wheelbarrow with $381.5 billion in cash (a big wheelbarrow) and setting it on fire would have exactly the same impact on our national budget and our nation.

To every CEO of a Fortune 500 company or owner of a small neighborhood restaurant, budget scoring like this must sound like a crazy way of doing business. After all, investments don’t just have costs—they also have benefits."

#Economics #Politics #EconomicModels #Capitalism #EconomicFallacies #PublicEpenditures
https://prospect.org/economy/2023-04-04-policymakers-fight-losing-battle-models/

How Economic Models Lead to Bad Policy With Baked-In Politics:
"Often, simple reasoning can beat out seemingly complex and sophisticated econometric modeling. In 2017, then-President Donald Trump proposed, and Congress adopted, a massive cut in the corporate income tax. The claim was made, supposedly based on models, that it would massively stimulate investment. It did not. It simply stimulated increases in share buybacks and dividends, funneling money to investors. It was, in effect, a big gift to rich corporations and their shareholders."

#Politics #Capitalism #Profiteering #EconomicModels
https://prospect.org/economy/2023-04-03-how-models-get-economy-wrong/