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Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

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Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#561

Post by xyzzyz »

throw123123123 wrote: post #559
xyzzyz wrote: post #558

Earlier quoted context omitted.

> Malthus is the butt-joke of economics Uh, he's not? > Marx's Capital Oh, that kind of "economics". Never mind then.

Malthus's arithmetic vs geometric model of population is grossly wrong, while also condemns a large swath of humanity to extreme poverty. What a clown. Paraphrasing Henry George: "Malthus model that food grows arithmetically and population grows geometrically is as arbitrary as saying a dog grows arithmetically and his tail grows geometrically" > Oh, that kind of "economics". Never mind then. What is that "kind of ec…

Malthusian model is the basics of modern understanding of historical populations. See, for example, Gregory Clark’s “Farewell to Alms”. The population very much reproduces itself geometrically (or at least used to for most of history), and the growth in food supply was much slower. In effect, the historical populations quickly hit the equilibria, and oscillated around Malthusian limit. Compare, for example, rapid population growth of colonial America, with very lackluster growth of population of England during the same time (and even then, the growth in England was partially fueled by food imports from America).

> What is that "kind of economics"?

Marx’s “Capital” is the bullshit kind of economics. If anything, it is the butt joke of economists today.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#562

Post by sjmm1989 »

dlbucci wrote: post #132
endisneigh wrote: post #3

I wonder what the USA would look like if minimum wage was defined as; two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. The static (both in the nominal and inflation adjusted sense) for minimum wage doesn't make sense imo. Minimum wage should be tied to some level of living (not necessarily a great living, but something ) This guy smh

Or, you know, have a Cost of Living/Inflation adjustment every year. That's such a simple idea to me and it's sort of insane to me that not only is that not something that happens, but no one seems to be even suggesting it (or at least, no politicians are campaigning on it). Hell, adjusting the 70's minimum wage to today's dollars puts it at like $24, so just hearing that, I don't know how it shouldn't be around ther…

Um, actually... You're in for a bad time mate: ($1.00 = $7.31) https://www.in2013dollars.com/us/inflation/1970?amount=1

Even at a 100 year range it comes out to: ($1.00 = $16.89) https://www.in2013dollars.com/us/inflation/1922?amount=1

BUT, these numbers may not yet be taking into full account some of the most recent upticks in inflation. SO, there may be some room for error yet. But $24... sorry pal, but nope. Not quite there yet.

And for the Canadians out there: It's pretty much the same deal. I think last I checked, it was at $15.65 for 1$ @ 100 years range.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#563

Post by anemoiac »

xyzzyz wrote: post #561
throw123123123 wrote: post #559

Earlier quoted context omitted.

Malthus's arithmetic vs geometric model of population is grossly wrong, while also condemns a large swath of humanity to extreme poverty. What a clown. Paraphrasing Henry George: "Malthus model that food grows arithmetically and population grows geometrically is as arbitrary as saying a dog grows arithmetically and his tail grows geometrically" > Oh, that kind of "economics". Never mind then. What is that "kind of ec…

Malthusian model is the basics of modern understanding of historical populations. See, for example, Gregory Clark’s “Farewell to Alms”. The population very much reproduces itself geometrically (or at least used to for most of history), and the growth in food supply was much slower. In effect, the historical populations quickly hit the equilibria, and oscillated around Malthusian limit. Compare, for example, rapid pop…

> Marx’s “Capital” is the bullshit kind of economics. If anything, it is the butt joke of economists today.

Compared to what? Not other mid-19th century economic works... Marx published Capital prior to the so-called "Marginal Revolution" that presaged the emergence of Neoclassical economics - i.e. the first era of economic thought generally compatible with modern theory, so it's basically meaningless to claim that his views are derided by economists today.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#564

Post by xyzzyz »

anemoiac wrote: post #563
xyzzyz wrote: post #561

Earlier quoted context omitted.

Malthusian model is the basics of modern understanding of historical populations. See, for example, Gregory Clark’s “Farewell to Alms”. The population very much reproduces itself geometrically (or at least used to for most of history), and the growth in food supply was much slower. In effect, the historical populations quickly hit the equilibria, and oscillated around Malthusian limit. Compare, for example, rapid pop…

> Marx’s “Capital” is the bullshit kind of economics. If anything, it is the butt joke of economists today. Compared to what? Not other mid-19th century economic works... Marx published Capital prior to the so-called "Marginal Revolution" that presaged the emergence of Neoclassical economics - i.e. the first era of economic thought generally compatible with modern theory, so it's basically meaningless to claim that h…

Compared to "The Wealth of Nations", for example, which had much better economic analysis, despite being published a greater part of a century earlier. Ideas of Smith, Ricardo, or Bastiat predate Marx, and are very favorably cited today by modern economists. Marx's, not really.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#565

Post by Siira »

ethanbond wrote: post #523
blindmute wrote: post #519

Earlier quoted context omitted.

Land tax is horrid. A person should be able to live off the land if they choose, self sufficiently. This is impossible when the government demands yearly cash payment just for having your own place to farm.

A person who removes land from the common good should have to do something productive with it, give it back to the common good, or simply pay a fee to the commons for having kept it from productive use. A person absolutely should not be able to keep several blocks of downtown Manhattan off the market so they can run a private farm for themselves. In practical terms, anywhere a person would want to do such a thing, th…

> A person who removes air from the common good should have to do something productive with it, give it back to the common good, or simply pay a fee to the commons for having kept it from productive use. A person absolutely should not be able to breathe several kilos of downtown Manhattan oxygen off the market so they can continue their private lives.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#566

Post by Siira »

314 wrote: post #496
ashwagary wrote: post #491

Earlier quoted context omitted.

Bad money (like inflationary fiat currency) creates the need to use other assets to preserve wealth, which creates bubbles in those assets. Bitcoin advocates say good money (Bitcoin) will return the value of all other assets to their utility value because the best passive store of value will be the money itself (which due to a fixed supply would be deflationary). In that world, people would rather sell assets they do…

This is hilarious.

It might not work in practice, but it is certainly a big factor behind using housing as an investment mechanism.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#567

Post by anemoiac »

xyzzyz wrote: post #564
anemoiac wrote: post #563

Earlier quoted context omitted.

> Marx’s “Capital” is the bullshit kind of economics. If anything, it is the butt joke of economists today. Compared to what? Not other mid-19th century economic works... Marx published Capital prior to the so-called "Marginal Revolution" that presaged the emergence of Neoclassical economics - i.e. the first era of economic thought generally compatible with modern theory, so it's basically meaningless to claim that h…

Compared to "The Wealth of Nations", for example, which had much better economic analysis, despite being published a greater part of a century earlier. Ideas of Smith, Ricardo, or Bastiat predate Marx, and are very favorably cited today by modern economists. Marx's, not really.

It sounds like you mean to say that Smith, Ricardo, and Bastiat are more popular in casual online discussions of economics or economic history, because they aren't any more relevant to contemporary academic economics than Marx is. In fact, as products of the same classical era, they shared some of the same problematic views, including adhering to the labor theory of value, that would discredit Marx's economics.

Of course, any of those names would necessarily be more agreeable to modern economists by nature of not being inherently anti-capitalist, but that's no credit to their scholarship. If anything, extending the our gaze beyond the realm of the contemporary field of economics would reveal that Marx far outpaces these other names in citation value.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#568

Post by throw123123123 »

xyzzyz wrote: post #561
throw123123123 wrote: post #559

Earlier quoted context omitted.

Malthus's arithmetic vs geometric model of population is grossly wrong, while also condemns a large swath of humanity to extreme poverty. What a clown. Paraphrasing Henry George: "Malthus model that food grows arithmetically and population grows geometrically is as arbitrary as saying a dog grows arithmetically and his tail grows geometrically" > Oh, that kind of "economics". Never mind then. What is that "kind of ec…

Malthusian model is the basics of modern understanding of historical populations. See, for example, Gregory Clark’s “Farewell to Alms”. The population very much reproduces itself geometrically (or at least used to for most of history), and the growth in food supply was much slower. In effect, the historical populations quickly hit the equilibria, and oscillated around Malthusian limit. Compare, for example, rapid pop…

You can't possibly believe the model that population grows until food is depleted at the margin, it's obviously wrong.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#569

Post by throw123123123 »

xyzzyz wrote: post #564
anemoiac wrote: post #563

Earlier quoted context omitted.

> Marx’s “Capital” is the bullshit kind of economics. If anything, it is the butt joke of economists today. Compared to what? Not other mid-19th century economic works... Marx published Capital prior to the so-called "Marginal Revolution" that presaged the emergence of Neoclassical economics - i.e. the first era of economic thought generally compatible with modern theory, so it's basically meaningless to claim that h…

Compared to "The Wealth of Nations", for example, which had much better economic analysis, despite being published a greater part of a century earlier. Ideas of Smith, Ricardo, or Bastiat predate Marx, and are very favorably cited today by modern economists. Marx's, not really.

Economists do not cite Malthus either.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#570

Post by ethanbond »

Siira wrote: post #565
ethanbond wrote: post #523

Earlier quoted context omitted.

A person who removes land from the common good should have to do something productive with it, give it back to the common good, or simply pay a fee to the commons for having kept it from productive use. A person absolutely should not be able to keep several blocks of downtown Manhattan off the market so they can run a private farm for themselves. In practical terms, anywhere a person would want to do such a thing, th…

> A person who removes air from the common good should have to do something productive with it, give it back to the common good, or simply pay a fee to the commons for having kept it from productive use. A person absolutely should not be able to breathe several kilos of downtown Manhattan oxygen off the market so they can continue their private lives.

Is this meant to be a counter argument? Because yes, if air in a given area were a strictly finite resource that everyone needs for survival (like land), one person should not be able to just indefinitely own enough of it for millions of people to live on.
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