Crabs are just spiders with body armor
Joined March 2021
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Willem retweeted
first degree price discrimination is accomplished marxist praxis. from each according to his ability, to each according to his needs
Willem retweeted
The problem with @GarettJones's proposal for 10% less democracy is that it doesn't go far enough.
Vote buying (Brazil edition):
"He announced a 15% increase in monthly welfare payments, loan forgiveness and a cash transfer of around $1,000 for micro-enterprises, and free bus rides for all. The price tag for Lula’s re-election handouts over the past year is estimated near $60 billion, or more than 2% of gross domestic product."
Willem retweeted
Una pregunta interesante es: ¿ayudó la inmensa política industrial de SK a mejorar la producción en sectores clave como la industria pesada?
Sí.
La siguiente pregunta es: ¿y eso sirvió para mejorar la economía?
Respuesta corta: no.
Respuesta larga: jajajajajajaja. no.
Willem retweeted
Yes. In Capitalism, the only way you can make yourself better off is by *first* serving others.
When buying a $10 drink, the owner is effectively asking ‘what good have you done for your fellow man?’
‘Mowed his lawn’
‘Prove it!’
You hand over the $20. Money is proof of work.
Willem retweeted
The problem with “heterodox economics” is that when proven to be accurate it’s eventually just called “economics”
Willem retweeted
Abolish heteroscedasticity ✅
Abolish multicollinearity ✅
Abolish idiosyncratic noise ✅
Abolish random error ✅
Abolish specification errors ✅
Abolish p-hacking ✅
Abolish t-hacking ✅
Abolish reasoning from accounting identities ✅
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Willem retweeted
This is how it worked in 10th century Iceland
Willem retweeted
The fatal challenge to heterodox economics is that there isn't actually orthodox economics.
Just take a few recent Nobels: behavioral, information failure, institutions, bubbles, financial fragility, labor monopsony (sort of), Schumpeterian creative destruction, etc.
Not to mention RCTs which are emblematic of how much economic research is empirical and only lightly if at all structural.
The real difference is methods. Heterodox economics is an avowedly political project not a social scientific effort to better understand the world. And I have nothing against political projects just shouldn't confuse the two.
