Discover and read the best of Twitter Threads about #economics

Most recents (24)

What does an economy do? Modern #economics suggests it is about [production] #efficiency, and develops models for assessing the degree to which it is achieved and predicting outcomes assuming it. This is a fundamental misunderstanding that, when scratching on the surface, clearly
is as impossible as it is undesirable. Economy is about #valuecreation: about getting more out of less. Efficiency is backward-looking and lacking of progress, while value creation is future-oriented and aspirational. What I mean by that is that efficiency is about tinkering with
processes and mechanisms that already exist, with the goal of making them run faster, smoother, and with less waste. It is about #management, about reducing costs and cutting overhead. But one cannot cut costs unless there is already an established process ssrn.com/abstract=30582…
Read 14 tweets
John Maynard #Keynes was born on June 5, 1883, and died too early. Here's a few thoughts on why I keep circling back to him, & why his work forces 2 rethink the way we do & teach #economics, esp. #micro. I am sure this (partial) thread will upset someone: apologies in advance. 1/
#Keynes understood that #macroeconomics is about emergent properties: aggregate outcomes that don't make sense 2 the individuals populating the economy. The logic, e.g., of the #IncomeExpenditure model is that an economy can coordinate along any point on the 45-degree line.. 2/
and that, accordingly, we should expect economies to operate with slack. Then you have the #ParadoxofThrift and all that. He also talked about the #ParadoxofCosts when he discusses redistribution to lower income people who have higher propensity to consume... 3/
Read 14 tweets
#FoodTech 🥘
Thread about #DarkKitchens

(1) Dark kitchens are delivery-only kitchens
German article ktchnrebel.com/de/dark-kitche…
(2) in #London 🇬🇧 or #India 🇮🇳
English article livemint.com/companies/star…
(3) operated by Delivery Services 🚴‍♂️such as @Deliveroo @UberEats #supper @JustEatUK ...
Read 14 tweets
»#YuriBezmenov may well go down in history as a #saint by the #survivors of the generations to come.

His statements about the global “#communist agenda” offers an opportunity for students of #history, #philosophy and #economics - world wide - to take note of #reality and to
..
.. reflect on the identity of their intellectual enemy, the dynamics of #capitalism in economics, and the role of #violence in politics.

Firstly, what is the “western identity”? From my understanding .. the #western identity has been shaped primarily by what it has resisted:
..
..
namely monarchic #despotism, authoritative #collectivism, and the infringement on the sovereignty of the #individual. You can even say that, to an extent, #Christianity itself followed from an already existing identity (i.e. the #Socratic divination of the individual).

..
Read 16 tweets
[A THREAD]
Bagaimana cara menabung saham yang benar? Apakah membeli saham yang produknya kita mudah temui? #yuknabungsaham #idx
1. Dengan gencarnya promosi untuk ikut #yuknabungsaham maka makin banyak millenial sekarang yg mulai berinvestasi. Salah satunya juga karena promosi di medsos dengan endorser spt di IG... #idx
2. Tapi tidak sedikit yang bingung setelah akun jadi, mau beli saham apa, lalu jawaban klasik yang sering kita temui adalah "beli saja yang produknya mudah kita temui" #yuknabungsaham #idx
Read 31 tweets
"#Economics has long been the purview of men; almost all the names in early economic thought were men, with the notable exception of Joan Robinson, a member of John Maynard Keynes’s inner circle of Cambridge economists." - @LipstickEcon americanprogress.org/issues/women/n…
"More recently, women economists have risen to prominence, such as Janet Yellen, the chair of the Federal Reserve." (Trump replaced her with a less qualified man: businessinsider.com/trump-picked-p…)
"Still, women make up only just more than 30 percent of new PhDs in economics and their proportions are lower further up the career ladder: Only 15 percent of full professors in economics are women." businessinsider.com/gender-and-rac…
Read 14 tweets
Economists estimate trump's #TradeWar w/ China has already cost U.S. companies & consumers $19.2 billion.

Now U.S. retailers, to avoid drastic price increases in the U.S., purchase products from Tawain, South Korea, Vietnam, & Mexico (thread)
#economics

reuters.com/article/us-usa…
The trump #TradeWar is making #Vietnam a winner-- as "exports rose 12.4% in the 2nd half of 2018...outpacing the five biggest economies in SE Asia"

And co's like Xuan Hoa Vietnam Joint Stock Co. (furniture) have shifted operations from China to Vietnam.

bloomberg.com/news/articles/…
Tawainese companies are also moving out of China to invest in their home country, making #Tawain a winner in the #TrumpTradeWar

#economics

taiwannews.com.tw/en/news/3679587
Read 11 tweets
Germany’s far-right party. In the last election they gained seats in the German parliment. This is European politics in a country that experienced utter devastation from a minority party with drastic, diversionary ideology. Surprisingly it is happening again in America & Europe.
Economic crisis followed by Nationalism is a pattern that has been repeated often in history. The political solution @TheDemocrats embrace will need to take this into consideration.

foreignpolicy.com/2018/10/31/the…
Read 32 tweets
I think we can all agree that food is pretty important for survival.

Climate Change is already impacting food security- it is not a distant, ambiguous concern: 

More than 1 million acres of US cropland ravaged by floods

reut.rs/2Uly0eC

#ClimateActionNow #foodsecurity
Cascading impacts of deadly flooding around the world includes "food supply shocks"
bit.ly/2OVoGZN

"A “whiplash” between very dry periods, followed by very wet periods, is exactly what we can expect from climate change"

#foodsecurity #ClimateChange #agriculture
...North America is not immune - bit.ly/2OVphL1

Already ‘There’s bleeding going on’ in U.S. farm economy, ag lender says, due in part to extreme weather

A prolonged downturn “has impacted farmers of all ages, experience levels and sizes”

#extremeweather #farming #farm
Read 16 tweets
#economics thread

@aoc's expansionary, unconstrained domestic spending proposal #GND (Green New Deal) is based on #MMT (Modern Monetary Theory).

It argues only regulating inflation & unemployment matters, not
deficits.

Some of my problems with MMT...

en.m.wikipedia.org/wiki/Modern_Mo…
I'll let @paulkrugman handle MMT's explicit problems. Mine are with its implicit presumptions:
1—We know how to manage long term vs short term
2—Global interdependencies don't matter
3—permission for uncapped spending
4—ignoring effect of aging
5—We can control inflation post-MMT
1) LT vs ST
Even w/traditional keynesianism, we are terrible at ½ the theory. SAVE during booms, spend during downturns. We've got the 2nd half down. Not the first one. Is there anything in our history that might suggest we are capable or willing to make good LT rate decisions?
Read 12 tweets
HAPPY VALENTINES DAY! ❤️❤️❤️

NEW THREAD:

Does P = [P]ALLADISM???

P = C
The “Chair” Serves the Master
Who is the Master??? 🤔

DOWN THE RABBITHOLE WE GO!!

#QAnon #WWG1WGA @realDonaldTrump @GenFlynn #EuropeanImperialism #NWO
👉🏻sites.google.com/site/memphismi…
2/ Most People are familiar with Albert Pikes 3 World Wars... I will attach the information for those who do not know... The Hidden Agenda is World Domination #NWO & #Luciferianism (we’ll get into that a bit later) #FreeMasons #Satanism #QAnon
👉🏻usa-the-republic.com/illuminati/Alb…
3/ Members of The #PalladianRite are obsessed with #Occultism
They communicate with Spirits called
⚡️⚡️#Illuminati (#Demons?)
When a Member becomes #Illuminated he is called an #Illuminatus (#DemonPossessed?)
Collectively they Call themselves “Masters of the Temple” ⚡️⚡️
Read 48 tweets
#GermanCulture
Today is the 79th #birthday of #German economist and writer Roland Baader(1940-2012), a proponent of the #AustrianSchool of #economics, an indefatigable defender of #liberalism and prophet of the dangers of creeping #socialism. In a sense, a secular Martin #Luther.
Under hashtags of the form #MDHP-𝑛 I will publish my translation of the following #obituary for Baader:
Gerd Habermann: 𝘔𝘪𝘵 𝘥𝘦𝘮 𝘏𝘢𝘮𝘮𝘦𝘳 𝘱𝘩𝘪𝘭𝘰𝘴𝘰𝘱𝘩𝘪𝘦𝘳𝘦𝘯.
Junge Freiheit Nr.3/12 (2012-01-13)
(published in pdf-form in hayek.de/images/pdf/nac…)
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..The title of the above newspaper article has no DIRECT relation to Baader's work, rather is an #allusion to a subtitle of a book by Friedrich #Nietzsche (1844-1900), written when Nietzsche was at the verge of mentally collapsing. (Nietzsche was incapacitated from1889 onwards).
Read 4 tweets
Has anyone read the "Economists' Statement on Carbon Dividends"? I'll paste it here. About 30 Nobel Laureate economists, 4 former Chairs of the Federal Reserve and 15 former Chairs of the Council of Economic Advisers have signed it this in favour of "#carbontax" (1)
Economists' Statement on Carbon Dividends

Global climate change is a serious problem calling for immediate national action. Guided by sound economic principles, we are united in the following policy recommendations. (2)
I. A carbon tax offers the most cost-effective lever to reduce carbon emissions at the scale and speed that is necessary. (3)
Read 13 tweets
Good #economics debate among @oren_cass @benshapiro @EricRWeinstein on what if market capitalism can no longer produce marriageable men & stable family formation. Is there a case for intervention...presuming we can identify root causes.

Start here:
Then:
Some causes of male wage/family breakdown:
-⬆️education/housing/healthcare
-⬇️skilled jobs, ⬆️ low wage services
-⬆️women in workforce👉wage competition, ⬆️supply
-divorce law disincentives
-mass incarceration of black men
-adverse public assistance incentives
-⬆️lifestyle choice
Interesting to note many of these are self-inflicted: direct byproducts of policies we enacted.
-loss of manufacturing jobs expedited by free trade agreements
-incarceration, divorce & welfare laws adverse consequences
-Fannie/Freddie/health tax breaks created massive distortions
Read 6 tweets
Senator, can you explain to the nation why your favorite Sweden doesn't have minimum wage laws? If you can't, I will, See the following tweet.
Did you know the coffee shop where @Ocasio2018 “got her start” had to close down because minimum wage hikes have put them out of business?
1. Increasing minimum wage results in low-skilled young workers either being laid off or never getting a first job to build their skills for a better paying job later. Democrats always find ways to exacerbate problems while pretending to solve them.
Read 7 tweets
Have you registered for #VantageForum?

Vantage Forum is a bespoke business and economic outlook event for business owners and corporate execs to gain deeper insight into the Nigerian economic landscape of 2019 and adequately strategise for their orgs to best benefit from such
The event is scheduled to hold on Thursday 31st Jan 2019 from 9am - 12noon at the Pistis Conference Centre, Lekki Lagos with a great lineup of speakers who would be sharing from their wealth of experience in economics, finance, business, governance and strategy. #VantageForum
Speakers include
Biodun Adedipe - @biodunadedipe
Femi Adeoti - @femiadeotireal
Toyin Sanni - @ToyinFSanni
Opuiyo Oforiokuma

Attendance is free but registration is mandatory. Register at elevationng.org/vantageforum

#business #finance #economics #strategy #VantageForum #ElevationNG
Read 3 tweets
As you get older, you'll realise that a £250 watch and a £25 watch both tell the same time.

A Michael Kors wallet and a Primark wallet hold the same amount of money.

A £500,000 and a £100,000 house host the same loneliness.

True happiness is not found in materialistic things.
How good something is should never be determined by its cost, designer, origin, or its perceived value by others. Most of the luxuries and many of the so-called comforts of life are not only not indispensable, but great barriers to the elevation of mankind.
Greed, fear and stupidity has poisoned people's souls, has barricaded the world with hate; has goose-stepped us into deprivation and bloodshed.
Read 4 tweets
#NSPNsymposium18 Dalal Najib
@theNASciences comes from #Casablanca in #Morocco and moved to @UMich for a #PhD on interaction of Mars & Venus atmosphere and solar winds. However, she had a crisis and wanted to give back to her community, and dove into #scipol, #ethics, #economics
She went on to do a Christine Mirzayan S&T fellowship via @aaas, one of the few options available to #international applicants (cc @IWS_Network). Wanting to engage #ECR, she applied for a position @theNASciences, got in, and never looked back #NSPNsymposium18
She now promotes #international development, security, and cooperation with @theNASciences, through #Science #technology and #innovation.

@theNASciences@NSF! The National academy is independent from govt and provides #scienceadvice and #evidence for #scipol

#NSPNsymposium18
Read 14 tweets
A special series of 4 lectures from #AvnerOffer @OxfordESH starting at 5pm this evening @Cambridge_Uni. #econhist #economics
Today's conclusion to #AvnerOffer's first lecture.
Read 12 tweets
The concepts of doing well by doing good, impact investment funds & the like substitute "generosity" for "justice". Justice often requires the powerful to lose something, to stop standing on someone's back. 1/x
Generosity in this context is like continuing to stand on someone's back while throwing them a bone. Generosity of this kind where the system doesn't change but scraps are thrown has become a very powerful idea. 2/x
paraphrased from a conversation between @AnandWrites & @deray on he Pod Save (@PodSaveThePpl) the People #podcast crooked.com/podcast/never-… #economics #politics #business #philanthropy 3/3
Read 15 tweets
Ray Dalio talks #economics. Must watch. Here he covers emerging markets economic crises as well as how the next big crisis will shape up.
Ray Dalio's investing approach is centered around processing data into actionable conclusions. His goal has been to understand how the economic machine works. History repeats itself, he claims. His hedge fund, Bridgewater Associates, embraces econometrics.
In contrast, the Austrian School of Economics generally rejects econometrics and dismisses empirical evidence. Instead of trying to understand the economic machine, they fight it. Listening to an Austrian economist is listening to never ending bashing of fiat currencies.
Read 8 tweets
Increasing minimum wage results in low-skilled young workers either being laid off or not getting hired, and Rent Relief results in rents getting raised because landlords know about it too. Democrats always find ways to exacerbate problems while pretending to solve them.
Politics Of Minimum Wage

The real minimum wage on the street is always the same -- zero!

However, Democrats advocate for it incessantly, because they count on the fact that those who get a raise will thank Democrats, whereas those who lose their jobs will blame the employers.
#politics #economics
People who support raising minimum wage must either think all employers are blood-suckers or that money grows on trees.
Read 4 tweets
#RePEc is a collaborative effort of hundreds of volunteers in 99 countries to enhance the dissemination of #research in #economics & related sciences (see repec.org on how you can be part of this initiative). Here is the list of our main services👇
Munich Personal #RePEc Archive is intended to disseminate #research papers of economists who want to make their work freely available through the RePEc network but are not affiliated with any institution that provides that furtherance mpra.ub.uni-muenchen.de
Are you a researcher in #economics or a related field?
Create and maintain a public profile of your work with #RePEc Author Service authors.repec.org
Read 10 tweets

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