I've started following Noah Smith on Twitter, and boy, he tweets a lot and has a lot of opinions.
I am not entirely sure how much to trust him, but he at least argues his positions pretty well. I liked a recent thread dismissing the "coming automation unemployment crisis" claim (of Andrew Yang, for example), and perhaps I will find it again soon amongst the ridiculously high tweet output he delivers.
He also did not much like that recent article by David Graeber "Against Economics" that I extracted at length. His criticisms in this article at Bloomberg, however, seems a bit light on to me, though. It's a bit "well, yeah sure, one absolutely key part of the field of economics is in an absolute shambles, and people have gone back to scratch to see if starting start all over again can help, but do we really need to say economics as a whole is in a bad state?"
6 comments:
Noah is okay. I have read him for quite a while now.
"coming automation unemployment crisis" Yes not true in economic theory. But it will have some practical value on the ground since the money and banking isn't there to create the balancing new jobs. Both these guys are pretty clueless really. People who are actually in the profession cannot be tapped for answers because they don't want to expose themselves to criticism. They feel insecure. Whereas I'm always good for answers.
Macro is in a bad state. Micro is actually the bigger more serious part of economics and it's fine. Macro has been ruined by leftism.
Micro "the more serious part of economics"? It's freaking macro that governments and the general population are most concerned about to avoid disasters, no?
And go ask Sinclair about his "this Keynesian spending will result in high inflation" prediction before you crap on about Leftists not knowing what they're doing.
Stepford, stop being an idiot all the time.
Sinclair was actually half right. We had stagnation without inflation. Certainly more right they either you or that goose, Paxton.
No he wasn't you idiot.
When he made that prediction he invented a new definition of stagflation for a start.
The GDP deflator went negative. wow.
Davidson has always been wrong just lie you JC.
always enjoyable pointing your those mistakes as well.
At least Katesy makes you look almost sane
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