Robert Young's Blog – December 2016 Archive (8)

A Christmas Homily

For some time, I've struggled to conjure a single sentence to explain the urban/rural or Red/Blue or sentient/moron divide that bedevils this Western World, not just the USofA. Quite out of my norm, I scanned the letters to the editor of a recent NYT; generally I ignore such sections of publications.

But here it is:



Academics are trained to distinguish reality from lies or fantasy, and to respect facts and sound arguments. If that biases academics toward…
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Added by Robert Young on December 23, 2016 at 10:30am — 5 Comments

Distribution Free Statistics

It's been an occasional theme of these endeavors, even part and parcel of the sub-title of one version, that the US (and, by extension, the global) economy has entered a less-than-zero sum game. In the past (see Gordon's book), the standard response to job destruction by tech change was that more new jobs were created than were busted by the machines. That sequence of events was possible only because the new jobs were no more…

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Added by Robert Young on December 22, 2016 at 11:50am — 1 Comment

Thought For the Day - 17 December 2016

Thanks to "Wait, Wait Don't Tell Me", this is true:
Rent a Jew. And, of course, it's in Germany.

Added by Robert Young on December 17, 2016 at 9:22am — 4 Comments

A Man of Subsistence, part the second

We return with Eccles, again:



As mass production has to be accompanied by mass consumption; mass consumption, in turn, implies a distribution of wealth -- not of existing wealth, but of wealth as it is currently produced -- to provide men with buying power equal to the amount of goods and services offered by the nation's economic machinery.

-- Marriner Eccles (mid 1930s FDR advisor)

And we ask whether it's possible for the 1800-ish view of the USofA…

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Added by Robert Young on December 13, 2016 at 2:30pm — No Comments

A Man of Subsistence

Since the beginning of time, well Adam Smith (the real one) at least, economics has been characterized as studying the interplay among three high level inputs to production: land, labour, and capital. Until the industrial revolution, landowners held sway. Subsequently, both capitalists and their puppet economists agreed that they were the chosen people.

So, let me start with an anecdote. Here on the hill is a sorta, kinda commune. The houses came down through the wife's family, which…

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Added by Robert Young on December 7, 2016 at 10:34am — No Comments

Pareto Failure, part the second

Well, well. Some, but not the true believers I'd expect, Trumpistas have discovered the issue with Pareto Optimal. Or, as I prefer, Pareto Fail. We have this article today, with some really scrumptious quotes.

Just to recap. Pareto was, sorta kinda, an economist of the Italian variety. Just as Mussolini began to drag the country into the mire. The…

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Added by Robert Young on December 5, 2016 at 10:30am — 2 Comments

Thought For the Day - 2 December 2016

Unemployment rate: 4.6% vs. 4.9% consensus, 4.9% previous.
178,000 additional jobs.

IOW:

"Yo, Donald!! You'd best not fuck up an economy that's working just fine in order to make rich folks richer and poor folks sicker and poorer. You do dat, and I'll whoop your fat ass to Selma and back."

love,
Barack

Added by Robert Young on December 2, 2016 at 7:02am — 4 Comments

The Scariest Sentence You'll Ever Read

Today, states containing just 17 percent of the American population, a historic low, can theoretically elect a Senate majority
-- Emily Badger/2016

Added by Robert Young on December 1, 2016 at 7:42pm — 3 Comments

NEW BLOG POSTS

Leaving the Purple House

Posted by J.P. Hart on June 15, 2019 at 9:30pm 0 Comments

As Luck Would Have It

Posted by Robert B. James on June 15, 2019 at 3:04pm 1 Comment

PreOP Poem

Posted by J.P. Hart on June 14, 2019 at 1:33pm 2 Comments

Fear of Being Sentimental

Posted by Doc Vega on June 14, 2019 at 10:42am 0 Comments

Road Trip to Thunder Bay Postponed

Posted by J.P. Hart on June 14, 2019 at 10:07am 2 Comments

Kept the Memory

Posted by J.P. Hart on June 14, 2019 at 8:32am 3 Comments

Cutting Edge Not Vertical

Posted by Robert B. James on June 14, 2019 at 7:57am 3 Comments

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