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The Demoralization is just Beginning

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Re: The Demoralization is just Beginning

#711

Post by t-3 »

l0ng1nu5 wrote: post #387
t-3 wrote: post #293

Earlier quoted context omitted.

"Pretty much every country" couldn't possibly employ "mmt practice" - a significant number of countries don't have sovereign currencies. That's ignoring the fact that MMT is descriptive rather than prescriptive, it doesn't have practices, it is a theory used to describe how a modern economy with sovereign fiat currency works.

I said developed country which is a pretty major distinction. Maybe my definition is off but it appears to prescribe the printing of currency which is consistent with what we've seen in most major economies and low and behold - we have rising inflation and wealth inequality.

Most of Europe doesn't fit in with your idea of "developed countries" though. Printing currency in order to have more money is as old as currency itself, what does that have to do with MMT? Give me a citation or quote where someone is advocating just printing more money as the MMT solution to anything.

Re: The Demoralization is just Beginning

#712

Post by Rhapso »

grumpy-de-sre wrote: post #645
sgt101 wrote: post #501

Earlier quoted context omitted.

I think this shows the problem of non fiscal pegs - the value of rare earths or duterium is going to be impacted by technical change. For example let's say that a new processing technique means that a rare earth can be extracted at 20% of the current cost, or a new deposit is discovered. The whole economy is now flexed around this change... which has nothing to do with the economy. I don't think that there is a fixed…

Land?

Not fungible.

Re: The Demoralization is just Beginning

#713

Post by adverbly »

ryandamm wrote: post #11

I prefer my economic takes from economists, or people who actually study these things. -there is more to an economy than manufacturing. Using manufacturing metrics to rate an economy is like scoring a soccer game based on how far your players run: in some contexts correlated with “winning” but in others it’s not. -gold is not a good currency or basis for monetary policy. -these ideas only sound self consistent withou…

They really should, but nobody listens to economists :(

If they did, we'd have had a land value tax for a century by now...

Re: The Demoralization is just Beginning

#714

Post by _DeadFred_ »

flyinglizard wrote: post #420
southernplaces7 wrote: post #408

Earlier quoted context omitted.

>And a dictatorship. Democracy does not fit very well with long term plans Say again? If we're talking strictly about the United States as per the article that inspired this post, the U.S. is a case study of a prosperous, remarkably stable democracy steadily increasing its prosperity, wealth, influence and power while also for the vast majority of its history investing for the long term and in vital infrastructure. T…

In the US of 50 years ago, democracy was protected by codes of conduct, honor, and most importantly, strong content moderation in the form of monopolistic legacy media. All of this went out the door with the rise of social networks and the demise of legacy media. I don't see how democracy has the tools to survive populists with direct connection to the voting public. Even if elections happen in 2028, there's a good c…

Didn't Ben Franklin have his own printing press promoting his views?

America's political class got complacent and lazy, and forgot that they have to sell what they were pushing to the American people. They never even FOUGHT the battle of ideas. As they age out/get pushed out new Ben Franklin with their own printing press types will rise.

Re: The Demoralization is just Beginning

#715

Post by troupo »

tomrod wrote: post #594
troupo wrote: post #178

Earlier quoted context omitted.

BTC being limited isn't great either. Because it only stimulates saving up.

Honest feedback request: how can I be more explicit when noting a fact without connotation or judgment?

You were explicit. "I'm most other ways crypto isn't that great". Were "other ways" is in juxtaposition to "being limited".

But being limited isn't great either

Re: The Demoralization is just Beginning

#716

Post by desumeku »

agentultra wrote: post #698
desumeku wrote: post #674

Earlier quoted context omitted.

Did you seriously just try and conflate austrian economics with racism?

Me, personally? No. I didn't have to do anything. Mises did it himself. Rockwell, Koch, Blumbert, Ron Paul, etc co-opted it and amplified it. Mises did it to his own ideology. He was often employed by the Hapsburgs. Otto von Hapsburg was a sponsor of the Mises institute. His writings and ideas remain fringe because it comes with the baggage of racial politics and the monarchy stuff. Modern libertarian anarchists that…

It's all a fringe theory, until it isn't.

Re: The Demoralization is just Beginning

#717

Post by dijit »

zero_shift wrote: post #665
dijit wrote: post #560

Earlier quoted context omitted.

I really hate this idea of "far-right talking points" and "far-left talking points". It immediately frames questions as "us vs them", if there's a talking point you hear come up frequently and it's easily dissolved: learn how to dissolve it. The fewer people walking around with incorrect ideas about things the better we all are. If people rebuff you, maybe they had a point the whole time? If they change the subject o…

We have a limited amount of attention to give and trust to offer, so we filter ideas with heuristics. One of the heuristics is that if someone says something very left-field, does not qualify why it falls out of consensus, and it appears the same as arguments made by politically motivated actors, we trust it a lot less. Especially when that person has no expertise in the area and is mostly famous for a completely dif…

Ignorance is never the right call.

Ignorance just leads to further polarisation, and honestly, we've got to be close to a breaking point soon.

Re: The Demoralization is just Beginning

#718

Post by roenxi »

AnimalMuppet wrote: post #598
roenxi wrote: post #285

Earlier quoted context omitted.

Typically when someone says "I think A" the onus is not on them to do the legwork trying to prove A false. Although I agree that ChatGPT is generally better at putting together an argument than the HN average.

Well, no, when someone says "I think A", the onus is on them to try to prove A true . And in trying to do so, you might have found out why A is false.

Fair enough. In the spirit of the idea I'll leave it up to you to lay out why that is false.

Re: The Demoralization is just Beginning

#719

Post by tasuki »

bad_user wrote: post #700
feoren wrote: post #692

Earlier quoted context omitted.

Sure. They say the best form of government is a benevolent dictatorship, while the worst form is a malevolent dictatorship. The problem is that the former almost always turns out to be the latter in disguise, or at least devolves into it rather quickly.

Who is "they"? People that don't know any history?

Have you even read the comment you're replying to?

Re: The Demoralization is just Beginning

#720

Post by rozap »

ViktorRay wrote: post #4

Steve Jobs told Obama something similar once. The idea was to provide worker visas to engineers who did well and graduated from good American universities. Basically give those workers a visa along with their diploma. Obama thought the idea was intriguing and mentioned it multiple times to his advisors. It never went anywhere though. Brain draining the rest of the world is one of the main reasons for America’s succes…

It's wild that this isn't a thing. As a US citizen, I graduated from a Canadian school and was immediately given a work visa, no questions asked. I never looked into it but I'm surprised that the US doesn't do this.
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