Muslim Center right citizen Compulsively likes tweets Frequent deleter of tweets
Joined July 2023
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Comically bad post my god. The George Mason crew (Cowen, Hanson, Caplan) have been posting tons of stinkers where they just ask AI something and then show what it said to us as if that’s interesting.
Also, lmao at this:
Errors in the research of Emmanuel Saez and Gabriel Zucman marginalrevolution.com/margi…
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Agree 100%. Really surprised at some of the RTs. Clear gish gallop. Has any single person amplifying this read even half of the papers and the summaries of their presumed errors?
And I am not a fan of SZ.
Many people have valid criticisms of SZ, but something sits poorly with me here. An anonymous website, very limited information on prompts, data, etc, and suddenly broadcast by a popular blog...Is this really how we want Econ research to move forward?
marginalrevolution.com/margi…
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SNL UK doing a Nollywood version of Wicked with Cynthia Erivo is the funniest thing they’ve done sorry
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That's not to say prices by themselves are sufficient. The soft budget constraint is a real problem and why I'm not a market socialist. But you can't solve the soft budget constraint without solving the knowledge problem.
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This misses that the knowledge problem is fundamental to your explanation here. Planners couldn't impose discipline on firms because without knowledge transmitted by prices, planners had no ability to efficiently calculate how budgets should be constrained and firms disciplined.
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The point made by Austrian market process theorists like Mises, Hayek, Don Lavoie, and @PeterBoettke is that prices, property, and profit & loss feedback are necessary to discover knowledge that cannot be discovered any other way.
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In this conversation, Vivek Chibber says that the main reason planning fails is that central planners cannot get accurate information because plant managers have incentives to lie.
For him, a principal-agent problem is the core issue, not a lack of price discovery.
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This piece by @PeterBoettke responding to the same @jacobin interview is also worth reading:
open.substack.com/pub/peterb…
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🧵 by @NathanPGoodman on the difference between the knowledge problem and the incentive problem.
For more reading on the nature of the knowledge problem, check out:
📕"We’re All Austrians Now: János Kornai and the Austrian School of Economics"
peterleeson.com/we_re_all_au…
📕"National Economic Planning: What Is Left?"
mercatus.org/hayekprogram/re…
📕"Still impossible after all these years: Reply to Caplan"
tandfonline.com/doi/pdf/10.1…
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The fundamental problem wasn't that these loss-taking firms couldn't be disciplined. If planners could prune all of these loss-taking firms it wouldn't have raised efficiency, it would have crippled the economy because planners set prices such that "losses" were made meaningless.
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Incredible news to close the year! The 1926 silent film THE LITTLE IRISH GIRL, considered lost since the late 1940s has been found in Australia and has now been restored by the National Film and Sound Archive. The film stars Dolores Costello and John Harron.
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How does this make sense in your head tell me? Washington owning slaves makes someone who ruled by a steel hand, didn't allow political pluralism, massacred rivals and the normal population, had a cult of the leader etc not a dictator? Literally hoooow do you donkeys think
Certainly a way to frame being a trick for corporations looking for handouts
Gov. Brian Kemp is well known to have a copious reading habit. One day he read that Audi was looking to build a U.S. manufacturing plant and the wheels started turning. @FitzTrubey has the amazing ticktock on the many years and dozens, maybe hundreds, of people it took to bring Audi to Georgia. ajc.com/business/2026/10/how…
