131–140 of 386 posts
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Ludwig Von Mises was never qualified for a university appointment. Even today he would never have a chance at a reputable economics department -- only GMU gives any credence to that kind of witch doctor nonsense.
It's amazing Hayek won a Nobel after being the student of such a washout.
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Von Mises was a hack. He got accolades as a form of early affirmative action, to somehow balance all the Keynesian economists getting awards. The whole Austrian "school" of economists basically _prides_ itself on not making predictions but using their dogma to explain whatever happens later. They always have an explanation why everything is a result of rational decisions of individuals. And if anything can't be expla…
The Austrian school is economics for people who never learned calculus. That doesn’t mean they don’t have interesting things to say now and then, but it’s mostly just a collection of folk wisdom.
"Among economic scholars, Friedman has no peer. His seminal contributions to economics are legion, including his development of the permanent-income theory of consumer spending, his paradigm-shifting research in monetary economics, and his stimulating and original essays on economic history and methodology."
https://www.federalreserve.gov/boarddocs/speeches/2002/20021...
I'm struggling to understand why we have any current h-1b economist position when that job market is in "free-fall"? The FEDERAL RESERVE BANK OF CHICAGO can't find an American economist? https://h1bdata.info/index.php?em=&job=economist&city=&year=...
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> That's not a great way to survive. Wait until you see how well setting it all on fire works.
At this point, we might be just fine. The academics won't be, but they were the ones telling everyone to wait on having kids in the first place. Demographic trickle down, biting the hand that feeds academia, is a big part of this story. At my college, birth control was as free as water. Teaching people to postpone marriage, children, for the sake of career, combined with record-high school debt... might be partly why…
Whatever beef you got is what 'media' fed you selected smug academics to piss you off.
The scientific community needs a new safe haven. It would be 1. A country specifically tailor made for scientists and engineers. 2. A country with no first class citizens Something like Switzerland or Dubai for science and engineering, but made from scratch.
And who would do the remaining jobs? I assume scientists are too busy and important to farm, build infrastructure (roads, bridges) or provide healthcare.
UCSD this year said they are not taking any new math PhD students due to the fiscal situation. The world of academia is in more flux than I've seen in recent memory.
In the mid 90's I went to a university that had cafeteria-style food, and dorms with no air conditioning. You don't need Waygu beef and massages in order to teach students. There shouldn't be any "fiscal situation" in higher education.
What is a university anyway? It's some buildings and classrooms with professors and students. It should be SUPER CHEAP to run a university.
I'm struggling to understand why we have any current h-1b economist position when that job market is in "free-fall"? The FEDERAL RESERVE BANK OF CHICAGO can't find an American economist? https://h1bdata.info/index.php?em=&job=economist&city=&year=...
Why hire an American who will ask for benefits, significant time off, work/life balance, etc. when you can hire an H-1B that you can treat like an indentured servant?
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> That's not a great way to survive. Wait until you see how well setting it all on fire works.
At this point, we might be just fine. The academics won't be, but they were the ones telling everyone to wait on having kids in the first place. Demographic trickle down, biting the hand that feeds academia, is a big part of this story. At my college, birth control was as free as water. Teaching people to postpone marriage, children, for the sake of career, combined with record-high school debt... might be partly why…
> At my college, birth control was as free as water. Teaching people to postpone marriage, children, for the sake of career, combined with record-high school debt... might be partly why academia finds themselves in this demographic decline. They told the next generation not to have kids, made it financially impossible to have kids, and lo and behold, there's less kids entering college now.
Hard to tell if this is just parody.
I will say that if feel that providing something equates to mandating it... I don't know how we're going to be able to have logical exchanges
Trickle down economics, austerity, regressive tax policies, tariffs, appeasement, lax antitrust enforcement, slashing capital gains and inheritance tax, privatization of natural monopolies, quantitative easing instead of holding investment firms accountable, foreign aid for war instead of peace, defunding public universities to manufacture a student loan crisis, public sector layoffs, subsidizing extractive industries instead of renewables, sub-minimum wage in restaurants/farms/prisons, underpaying teachers and healthcare workers, rent seeking, payola, collusion, duopoly, usury, unpaid domestic labor, wage slavery..
And the inevitable aftermath of wishing the worst for others: stagflation, underemployment, civil unrest, eventually recession, depression and a raid on concentrated wealth if/when supply-side economics collapses because nobody has any money to buy anything anymore.
In spite of overwhelming evidence of public and private abuses, nobody cares what the experts think anymore. Because it's obvious to everyone that so much is wrong. People who try to help get blamed, people who participate in the grift get rewarded as things get worse.
Unfortunately as wealth inequality consumes us under self-colonization, all liberal arts degrees trend towards worthless. We're left with declining service work after passing peak wages and peak employment due to the rise of AI. Spending the rest of our lives fighting over scraps after the rug was already pulled out from under us due to the Dot Bomb, Housing Bubble, pandemic, private equity driving housing costs to the point of insanity and a trade war of choice.
Or we could like, follow economic theory and stuff. Do the opposite of everything I just mentioned. Can't have the Econ PhDs telling us that!
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It's amazing Hayek won a Nobel after being the student of such a washout.
People, both then and now, are fond of Hayek and Von Mises works in anti-communist polemic. At no point were they reputable economists .
Friedrich August von Hayek
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1974
Born: 8 May 1899, Vienna, Austria
Died: 23 March 1992, Freiburg, Germany
Prize motivation: “for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena”