tag:blogger.com,1999:blog-2761684730989137546.post4429585450396640218..comments2024-03-29T07:30:30.121-04:00Comments on Mike Norman Economics: Chris Dillow — Taxes, Norms & Belief Equilibriamike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-2761684730989137546.post-60892630483154853782013-05-30T15:15:52.503-04:002013-05-30T15:15:52.503-04:00Yeah saw that Tom. Hilariously Comical those posts...Yeah saw that Tom. Hilariously Comical those posts on DSGE were! Ramananhttps://www.blogger.com/profile/11123448543333785121noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-1673825522907799392013-05-30T14:53:03.448-04:002013-05-30T14:53:03.448-04:00Yeah, Smith's hopeless.
Did you see this?
&...Yeah, Smith's hopeless.<br /><br />Did you see this? <br /><br /><a href="http://economistsview.typepad.com/economistsview/2013/05/dsge-financial-frictions-macro-that-works.html" rel="nofollow">'DSGE + Financial Frictions = Macro that Works?'</a> by Mark Thoma<br /><br />After the crisis, they come up with an ad hoc DSGE fix to "predict" it. <br /><br />"What do you mean we didn't get it? See. We got it right in hindsight."<br /><br />Great science, that.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-36235989233833047432013-05-30T13:23:36.189-04:002013-05-30T13:23:36.189-04:00Btw Tom ... you wouldn't have missed - but jus...Btw Tom ... you wouldn't have missed - but just making sure you read this:<br /><br />https://twitter.com/Noahpinion/status/340144437030187008Ramananhttps://www.blogger.com/profile/11123448543333785121noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-80292980806562440922013-05-29T18:04:07.109-04:002013-05-29T18:04:07.109-04:00It seems one of the flaws here is thinking that we...It seems one of the flaws here is thinking that we control our own income. In fact everyones income is the result of someone elses spending decision. If this werent true then boycotts couldnt be effective.<br /><br />So if we dont control our incomes what is the proper attitude towards our income? Grateful.......not entitled.<br />Regardless of how much effort one applies it is still everyone else that controls our incomes. We still have to make ourselves wanted by others or we will have no income in our modern economy.<br /><br />Now, I certainly have questions about whether our current "income" tax system is best. It does, in a way, punish the work required to receive income, which isnt ideal because that work requires learning how to appeal to others, but we could also define income more broadly to include return on stocks traded in secondary markets and other purely financial transactions. This would make those activities less lucrativeGreghttps://www.blogger.com/profile/03139782404004492965noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-81860475307932753162013-05-29T14:21:06.771-04:002013-05-29T14:21:06.771-04:00F.B. the point is that antidotes still have to be ...F.B. the point is that antidotes still have to be applied;<br /><br />there's always another step after knowledge, and it's called action<br /><br />requires courage, experience and, most of all, PRACTICERoger Ericksonhttps://www.blogger.com/profile/17515506247888521516noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-42242292329486876742013-05-29T12:42:48.925-04:002013-05-29T12:42:48.925-04:00The truth is an antidote - to lies:
It is well en...The truth is an antidote - to lies:<br /><br /><i>It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. </i> Henry Ford<br /><br />Anonymoushttps://www.blogger.com/profile/13859046687902645077noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-31949766587318769042013-05-29T12:27:14.373-04:002013-05-29T12:27:14.373-04:00F. Beard, that's no antidote, just a repetitio...F. Beard, that's no antidote, just a repetition of the same named cause.<br /><br />It also seems that jurists sympathize with a crook who had to really work hard at stealing something.<br /><br />Even jurors appreciate the sweat equity crooks put into thieving. There's a deep seated feeling that people should be compensated for man hours of effort - even if misapplied. Until it gets personal or violent. Then you just execute the hard worker for his effort. :(<br />Roger Ericksonhttps://www.blogger.com/profile/17515506247888521516noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-41883034960113028682013-05-29T11:44:58.752-04:002013-05-29T11:44:58.752-04:00This poses the questions: is it possible to shift ...<i>This poses the questions: is it possible to shift the belief equilibrium away from the neoliberal to the social democratic one, and if so how? </i> Chris Dillow<br /><br />I used to wonder how people could repeatedly fail at business. "Where do they keep getting the necessary capital?", I thought. But I wonder no longer: If one has even a little capital of his own (or perhaps none) and a plausible business plan to generate cash flow (and until recently, a light skin tone: Google "redlining") then a bank will create new, temporary money ("credit")and lend it to you! There's no need to save or pay honest interest rates for other people's savings or create a common stock company; just borrow from a bank and legally steal your neighbor's purchasing power!<br /><br />There's your antidote to neo-liberal self-righteousness - many of them (most, almost all?) have gotten wealthy using stolen purchasing power.Anonymoushttps://www.blogger.com/profile/13859046687902645077noreply@blogger.com