The rage is justified, but it's also misdirected
The frontier LLM models didn't decide how they were trained. Nor did they direct the marketing bullshit that surrounds them.
#Enshittification #Generativeai #SocialJustice #EconomicTheory #BryantReview
gardinerbryant.com/the-rage-is-...
The rage is justified, but it'...
#economictheory — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #economictheory, aggregated by home.social.
-
-
The rage is justified, but it's also misdirected
> The frontier LLM models didn't decide how they were trained. Nor did they direct the marketing bullshit that surrounds them. People did. Be mad at them.
#Enshittification #Generativeai #SocialJustice #EconomicTheory #BryantReview
-
Does Georgism work? Five years later
https://www.astralcodexten.com/p/does-georgism-work-five-years-later
Comments: https://news.ycombinator.com/item?id=49844657
#HackerNews #Georgism #EconomicTheory #UrbanDevelopment #PolicyDiscussion #LandValue
-
🤔 Ah yes, the classic tale of using a video game title as a metaphor for groundbreaking economic theory—because nothing screams credibility like citing fictional creatures to solve tax dilemmas 🧚♂️. Maybe next they'll use Mario Kart to explain international trade 🚗🍌.
https://wilsoniumite.com/2026/08/03/working-on-economics-with-fable-5/ #videoGameMetaphor #economicTheory #MarioKart #internationalTrade #fictionalCreatures #HackerNews #ngated -
#Reagan and #Thatcher will be remembered for lighting the match that set fire to the powder trail leading to the barrel of black powder yet to explode, but they did not manufacture that match out of thin air. It was an organisation that produced the *RoadMap* for them both and self-interests did the rest.
“At his first cabinet meeting as president in 1981, Reagan distributed copies of Mandate for Leadership, whose 3,000 pages came out of the Heritage Foundation, a conservative research group in Washington, DC. This became the ideology of neoliberalism, which advocated a smaller state, industry deregulation, tax cuts, strengthened defence, and roll-back of social engineering. A year later, 60 per cent of the Mandate’s proposals had been adopted by the Reagan administration, and The New York Times called it ‘the manifesto of the Reagan revolution’. His initiative engaged Thatcher, and spread globally to dominate public policy in democracies around the world.”
The same **Heritage Foundation** is behind #tRump ‘s two terms as #POTUS. If you didn’t know before, it’s all about #NeoLiberalism a combination of #Libertarianism and #Neo-Classical #EconomicTheory sure to please the #Rich and #Entitled in any society.
Long Read:
https://aeon.co/essays/why-western-democracy-is-ailing-and-how-to-fix-it -
Who is the father of economics?
There is the obvious name, we add three more people to the list of contestants.
Notable thinkers on economics from history with ideas that still matter today.
Also, the father of economic's thought on the link between economics and music.
#economics #economictheory #invisiblehand #musiceconomics #specialization #comparativeadvantage #gifted #talent #effectiveness #efficiency #productivity #music #dance #poetry
https://www.supervizion.com/blog/father-of-economics-adam-smith/
-
Oh, look who's trying to reinvent economics with "agent swarms" 🤖🐝! Because clearly, the economy needs more #buzzwords and fewer actual solutions. Keep dreaming, Wilson Lin, maybe one day you'll create a system even you can understand. 😂📉
https://cursor.com/blog/agent-swarm-model-economics #reinventingeconomics #agent #swarms #economictheory #WilsonLin #humor #HackerNews #ngated -
Prof Richard Murphy asks a number of question in this short blog, the central one being :’…who is asking where the money is coming from?’ And the others follow on from that one.
It is a very short read, but a telling one for #MMT and perhaps a calling out of all the hypocrites and their economic dogma.
#EconomicTheory #NeoClassicalEconomics #EconomicBigortry #antifa #EatTheRich
-
“Far from being the insignificant thing described by Mill, #money takes control of the #economic action as a way of coping with #uncertainty. This, in a nutshell, is Keynes’s #economictheory of money.” #Keynes open.substack.com/pub/robertsk...
Keynes and Money, or Where Has... -
-
Socialist ends by market means: A history
https://lucasvance.github.io/2100/history/
#HackerNews #Socialism #History #MarketMeans #EconomicTheory #SocialChange
-
🤔 Ah, the intellectual labyrinth where enabling #JavaScript is the ultimate key to unlocking the mysteries of economic theory! 🔑💡 If only Jevons and Baumol had known their paradoxes could be unraveled by turning on #cookies, we could all retire early from this mind-boggling complexity. 🍪💻
https://www.a16z.news/p/why-ac-is-cheap-but-ac-repair-is #EconomicTheory #TechHumor #MindBoggling #HackerNews #ngated -
The Paradoxical Efficient Market Hypothesis (2024)
https://3quarksdaily.com/3quarksdaily/2024/09/the-paradoxical-efficient-market-hypothesis.html
#HackerNews #ParadoxicalMarketHypothesis #EfficientMarketTheory #2024Finance #InvestmentInsights #EconomicTheory
-
Life, Work, Death and the Peasant: Rent and Extraction
#HackerNews #LifeWorkDeath #Peasant #Rent #Extraction #EconomicTheory #SocialCommentary
-
🤔 Who knew that people don't trust the age-old economic theory of supply and demand when it comes to housing? 📉 Apparently, the concept that more houses could lower prices is just too complex to grasp. 🏠 Maybe if we scatter a few more cookies around, the truth will finally stick! 🍪
https://www.aeaweb.org/articles?id=10.1257/jep.20241428 #supplyanddemand #housingtrust #economictheory #housingmarket #complexities #cookiesfortruth #HackerNews #ngated -
Why Socialism Fails: A Misesian Perspective - Socialism, despite its promises of equality and social welfare, inherently fails d... - https://news.bitcoin.com/why-socialism-fails-a-misesian-perspective/ #centralizedplanning #economiccalculation #learningandinsights #resourceallocation #economicfailure #economictheory #ludwigvonmises #misallocation #marketprices #economics #socialism
-
Milton Friedman on Inflation: A Government-Made Disaster - Inflation is not a natural phenomenon but a consequence of government actions. Mil... - https://news.bitcoin.com/milton-friedman-on-inflation-a-government-made-disaster/ #economicinstability #learning-insights #governmentpolicy #economictheory #hyperinflation #miltonfriedman #monetarypolicy #pricecontrols #freemarket #inflation #shortages
-
> It’s as if someone were out there making up pointless jobs just for the sake of keeping us all working. And here, precisely, lies the mystery. In capitalism, this is precisely what is not supposed to happen.. the very sort of problem #MarketCompetition is supposed to fix. According to #EconomicTheory, at least, the last thing a profit-seeking firm is going to do is shell out money to workers they don’t really need to employ.
https://theanarchistlibrary.org/library/david-graeber-bullshit-jobs
https://www.davidgraeber.org/wp-content/uploads/2013-On-the-phenomenon-of-bullshit-jobs-A-work-rant.pdf
#DavidGraeber #BSJ -
I asked for a pint of estrogen at the pharmacy, but this is all they gave me.
Is this a sign of a looming recession?
-
Bank economist inadvertently admits that neoclassical economic theory has little to do with reality:
"Good to see the economic theory playing out in reality, for once."
#KelvinDavidson, Chief Property Economist, #Corelogic
-
Interesting take on Hayek with which I wholeheartedly agree, that were it not for his crass right-wing personal politics his economic philosophy might well have been embraced by hippies.
#EconomicTheory #libertarianism #BookReview
https://www.lrb.co.uk/podcasts-and-videos/podcasts/the-lrb-podcast/the-hayek-puzzle
-
Money behaves as though it has mass. Back when money had actual mass and volume, those limited concentration of wealth. But now money is idea-based. Every hoard is a singularity. Small ones evaporate quickly, but big ones become black holes that devour all nearby economic value.
-
On the creative vacuum of leadership, the senseless occupation of humanity...and what we all might do next.
"Economies and entire civilizations have been built around whatever gives people more stuff to do. But just doing stuff, isn’t enough."
#Economics #Capitalism #Violence #BoredApes #Socialism #JobCreation #SocialTheory #EconomicTheory #Automation #BasicIncome #Creativity #History #Inequality
-
-
Really happy to see this paper published: https://econtheory.org/ojs/index.php/te/article/view/20221619
Two reasons. First, a number of (IMHO) important recent papers are finally unlocking the potential of epistemic game theory to push the frontier beyond equilibrium in significant economic applications. This paper definitely belongs to this category.
Second, Luciano Pomatto was my student back in the day, and I had a lot of fun learning from him. Congrats! And someone please get him on 🐘
-
Freeman’s Three Laws of Money
1) Money only exists when it is in motion.
2) The total value of money owned, whether by an individual or a society, will always change at an exponential rate.
3) The number of specialized experts in a society is always proportional to the abundance of money in that society.
I came up with these three laws recently as I have been refreshing my studies and going significantly in-depth on economic theory and the nature of money. I’d be curious to hear people’s impression of it.