Thank you. I didn't really make this thread for myself. Hopefully the American who requested it will find find it eventually and you can chew the fat of the latest economic happenings and discuss controversial economic theory. I don't know it's not really my subject.
If you or anyone else have request for news sources or other links you'd like to see in the OP let me know and I'll and the relevant details to the paste bin I'm making to aid the quick creation of these threads.
Jordan Morales
I'm lurking in the hope of learning more desu mate.
Alexander Thomas
That's cool. If there's anything you'd like explained, I'm a fairly good research even if this isn't my subject.
Jonathan Hughes
we can't have economics threads, they just boil down to arguing about minimum wage economics, tariffs and communism
Liam Long
yeah but it is still a useful discussion to some degree
if the government stopped printing money, would inflation completely stop?
Andrew Morales
Other things can cause inflation. Scarcity for example can drive up prices.
Josiah Price
No, inflation isn't just printing money. Periods of high inflation often have nothing to do with money printing, though money printing may follow inflation as a desperate means to curb the social consequences of runaway inflation.
Hunter Wilson
ty user
Austin Roberts
State capitalism > everything. Every single state capitalist country has seen incredible economic prosperity and the only reason it isn’t adopted universally is that it doesn’t tolerate the exploitation of the nation by globalists.
I'm afraid these numbers are from 2014. Is 4 years backwards the best they can do? The answer is no, since they published this 2015, which means there could be numbers for 2016 and possibly 2017.
Ok, I'm just salient cause I thought my country would make the list
Eli Lopez
State capitalism is an economic system in which the state undertakes commercial (i.e. for-profit) economic activity and where the means of production are organized and managed as state-owned business enterprises (including the processes of capital accumulation, wage labor and centralized management), or where there is otherwise a dominance of corporatized government agencies (agencies organized along business-management practices) or of publicly listed corporations in which the state has controlling shares. Marxist literature defines state capitalism as a social system combining capitalism with ownership or control by a state—by this definition, a state capitalist country is one where the government controls the economy and essentially acts like a single huge corporation, extracting the surplus value from the workforce in order to invest it in further production. This designation applies regardless of the political aims of the state (even if the state is nominally socialist)[3] and some people argue that the modern People's Republic of China constitutes a form of state capitalism and/or that the Soviet Union failed in its goal to establish socialism, but rather established state capitalism.
Jack Long
Heavy state involvement in the economy often either in the form of command economy or nationalization, which focusses on heavy industry. Examples include Francoist Spain, the Soviet Union, South Korea, Fascist Italy, and to an extent the nordic countries.
Jaxson Richardson
first year econ student here. can anyone knowledgeable explain to me how modern economic thought isn't bullshit? the entire microeconomics 101 course seemed like the biggest pile of bullshit i ever heard, unrealistic and not even tangentially related at all to real life. how the fuck does it make sense that the owner of a factory or field or whatever doesn't actually gain anything from it?
Adam Watson
It doesn’t make any sense, it’s part of the american culture of ignorance. Why should propaganda whose only intent is to make people feel helpless make any sense? Oh yeah, to my understanding you should specialize in finance or quantitative economics, those are the ones with big bucks.
Sebastian Morales
thinking of just switching to CS, fuck this shit honestly
Jose Bailey
Why in the he'll is every other shit article a CNN one? What you can't use anything that isn't shilling the current globalist economic agenda
Michael Ross
I assume you’re in the US. You don’t want to be replaced by Pajeet and the gang, so some lesser known STEM fields might be better. Have you considered chemistry?
Jaxon Bennett
It's because they are all conflated with Keynesian pseudoscience because it props up globalist economic rhetoric.
You should read up on the Austrian and Chicago schools, but don't debate too much in class because professors don't give 2 shits who is right
James Cruz
Provide me with a source you prefer and I'll add that next time. But at the end of the day too many other people will be reading CNN for you just ignore them even if you don't like them.
Christopher Taylor
Austrian isn’t really any better than keynesian desu.
A rare good good thread. Thank you OP, you are real and heterosexual
Ethan Cox
>how the fuck does it make sense that the owner of a factory or field or whatever doesn't actually gain anything from it? Economic masters here, that's obviously not true and whoever taught you that is retarded, but I'm guessing you just misunderstood.
Jackson Wood
He isn't in the "the air you breath can be monetized phase" yet.
William Peterson
Keynesian economics postpone the business cycle by inflating and devaluing the money supply. It destroys spontaneous order and creates inefficient produced orders. It claims that Austrian economics, which is just an analysis of economics through natural science, is wrong because it is able to to postpone crashes by intervention, even though Keynesian economics can't predict the outcome of any economic policy, and Austrian economics has been able to predict every one
Hudson Cooper
So the state as an economic dictation body, how would economic prosperity translate into quality of life for the inhabitants? How would the bodies deal with surrounding states and the larger federal structure? Internationally?
Josiah Richardson
*predict every major economic crash
Parker Young
don't even bother, he's obviously retarded.
Zachary Hill
I want to go to school for economics, currently working as an electrical apprentice to save up money. The university I have in mind is ranked 35th in the country overall. Currently working on 2 startup companies, one in tech and one in energy, and would like to understand more on the finance and development side. Does this sound like a good plan?
Leo Hernandez
Any source for austrian school presictions? All austrian school stuff that I’ve read reeks of pure praxis and zero empirical evidence.
Joseph Wright
>finance and development side. Does this sound like a good plan? If you want that, study finance or operations. Econ doesn't really sound like what you're after.
>one in energy better yet, petroleum engineering
Justin Thomas
Yeah have fun masturbating in your little circle of gender studies how you stimulated the economy by chopping your dick off, but please fuck off from this thread.
Jonathan White
Do you even know anything about economics dude this is basic shit. I don't have time to dig up sources atm but it's pretty common knowledge that hoppe predicted the 2008 one, Hayek predicted the 1970s one etc etc
Sebastian Reyes
Do you even praxeology?
Camden Miller
Can you give a name of a paper? I am mostly interested in hearing how they used austrian economics to predict the crash.
Hudson Bennett
Praxeology is gay.
Asher Price
I enjoy doing market research and statistics so I figured econ would be a bit more engaging then finance for me. As for the energy startup its new wind technology and i'm going the electrical side of things which my schooling ive already completed is helping with
Blake Parker
Sorry I want to help but I'm getting ready to go to work atm. I'm not an ancap but hoppe is far superior to Krugman on any subject
Anthony Ramirez
What do you mean? Go look up living standards in all of those countries, they grew massively in very few years which translated into incredible rise in maferial wellbeing for the people. Also state capitalism gives the state far more tools with which it can handle diplomacy, as for example they have far superior capacity to manuafacture weapons.
Kayden Fisher
Fine, I’ll try to find it.
Mason Johnson
was taught in the context of the marginal product of labor and capital. if you pay every worker his wage in the value of his marginal product, how does the owner of the factory/land/business turn a profit other than appreciation?
most likely did misunderstand but boy that class seemed like bullshit. Macroecon was a bit better but they taught us mostly Keynes' economic model which again, seemed like bullshit. does it get any better?
Nathaniel Nguyen
L
Gabriel Williams
M
Jacob Thomas
Mo
Zachary Bailey
Mj
Blake Peterson
Qwo
Carson Ward
Y
Hudson Brown
Hg
Evan Clark
I'd assume you mistook PRODUCED vs GAINED. he gains money but didn't produce anything
Kevin Murphy
You okay?
Tyler Rodriguez
>if you pay every worker his wage in the value of his marginal product You don't though. Who the fuck does that? Price of labor is determined primarily by the intersection of supply and demand for that type of labor. If you've got a shitload of unskilled workers and not much demand, the price of unskilled labor will be low. If you hired based on MPL, you'd be paying employees wildly different salaries depending on the order you hired them in.
Marginal product just means the change in output from adding a new unit of input. I guess you're talking about profit maximization, which is the point where marginal revenue equals marginal costs. But all that means is that once you're at that point, adding another input (worker) costs more than the benefit derived from having him.
Luke Myers
Praxeology claims it has "tendency" rules, which is how it get's away with the "can't be falsified, can't be proven" label. Used to really fucking annoy me until I got older and realized all economic theories are doing just that and Praxeology is the only one bold enough to say it out loud.
Have a bump. Someone get some of the Jow Forums folks here to learn us some stuff
Justin Kelly
If i wanted to see a herd of faggots spamming shitcoins and wojaks I'd just go to Jow Forums
Joseph Sullivan
L
Ryder Lee
>you don't though. Who the fuck does that?
well, literally what was taught. Wage is determined by the value of the marginal product the extra worker brings to the table. wiki pages basically confirms en.wikipedia.org/wiki/Marginal_product >In the neoclassical theory of competitive markets, the marginal product of labor equals the real wage you pay all workers based on the Value of MPL of the last worker who joined basically. makes 0 sense, i know how it works in the real world but why is this what is being taught in uni
Brayden Sanchez
I tried to warn them about private debt levels, I tried to warn them and they laughed
i just dont understand how amazon can trade at such a high EPS. high EPS is for new/small companies that are expected to earn a lot more in the future. how fucking big do people expect amazon to grow?
Bottom 50%(subhumans) >anybody with an IQ below 115 >fentanyl users >anybody not Jewish, W. European, E. Asian. or high caste Indian >public water drinkers(fentanyl users) >people with high cortisol
Jackson Torres
B-b-but not all Jow Forums
Joshua Cooper
An asymmetric Laffer curve was found with a maximum revenue point at around a 70% tax rate
Jayden Nguyen
>Bottom 50%(subhumans) >anybody with an IQ below 115 LMAO! 100 IQ is the average, by definition!
Lmao no, Jow Forums is full of underage scamcoin buying tards. Why do you think all those coins are appearing? Some little tard programmer is making bank of other bigger tards who buy into them.
Nathaniel Scott
Oh no, you misunderstood, it doesn't determine wage, it uses the wage set by S&D to maximize profit.
So for instance, say you can hire people to pick apples at $7 an hour, and they can pick $10 worth of apples in an hour (I'm making numbers up it doesn't matter). The marginal product in this scenario is $10, because every time you hire a new worker, they're generating $10 worth of value for you, less what you're paying them.
But let's say you hired 20 of em, and now the orchard is kinda full, and they start bumping into each other. Now every time you hire a new one, they're only picking $8 worth of apples an hour. Still profitable, but not as good. But once you hire enough such that the marginal product is $7, equal to the real wage, you have no reason to hire any more, because the next person you hire could only pick $6.90 worth of apples an hour, which is an economic loss for you.
Yeah, he's obviously referring to wealth distribution, not IQ distribution, you fucking moron.
As society gets more and more technical, IQ becomes more and more important, and earns greater financial rewards. Please show me a fortune 500 company that hires "average" people to do anything but pack boxes.
Austin Brown
Not necessarily, since inflation is caused by a lot of factors. For example, an increase in the GDP or the aggregated demand could cause inflation, or better wages could cause inflation. In fact, it's one of the hardest things for socialist nations to overcome, how to guarantee a decent life for everyone while still managing to have affordable prices
Gavin Wright
>That would be an indirect stimulus which tends to not do as well as direct REAGAN'S TAX CUTS saved the economy from bad growth AND high inflation at the same time! No other school of economic thought has managed to prevent stagflation!
Isn't the idea behind Wage = VMPL being that another Apple field owner will see that you're hiring mexicans for $7 and offer them $8 to come work for him? repeating until the wage is actually $10?
Dominic Johnson
As much as I love economics, 80% of the people here arent even knowledgable to pass an intermediate class
also, for my real estate people in here, look to northern areas of pheonix, prescott area in arizona
infastructural changes and development, given the boomer retirement wave and the caliswag exodus, there are some prime commercial and residential investment opportunities starting to crop up
