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Billy
12.9K posts
Billy
@BarbellZen_
Gym rat. Economics graduate. Free Markets and Liberal Cosmopolitanism. 🗽🌐🇬🇧
Katılım Şubat 2018
575 Takip Edilen201 Takipçiler
Billy retweetledi
“A major source of objection to a free economy is precisely that it does this task so well: it gives people what they want instead of what a particular group thinks they ought to want.”
— Milton Friedman
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Yet is has 250% debt to gdp and is claimed to be an economic basket case on the brink of collapse for nearly 3 decades 🤷
Do we think mainstream econ might be a busted flush yet?
Brian Krassenstein@krassenstein
I just returned from two weeks in Japan, and I have to be honest, it really opened my eyes to how far behind the U.S. is falling in so many basic ways. Some things that stood out: - In two weeks across some of Japan’s most densely populated cities, I saw only two visibly homeless people. - I saw one person who appeared to be struggling with addiction. - High-speed rail made affordable, clean, efficient transportation the norm, not a fantasy. - I never once felt unsafe letting my kids walk freely beside me in public. - Despite having far fewer public trash cans, Japan’s streets had a fraction of the litter. - The country’s reduced income inequality was visible everywhere, from housing to public services. I already know what some right-wing folks will say: “It’s because Japan has low immigration” or “It’s not run by Democrats.” But those are lazy excuses and distractions from the real issues. The truth? We’ve normalized dysfunction in the U.S., and we make excuses for it instead of demanding better.
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@carla_denyer “In order to protect human right, we must violate human rights” 🤡
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Couldn't be clearer. Climate action is essential to protect human rights
This means the UK has a legal duty to speed up the transition to a cleaner, greener economy and block any new licences for the extraction of fossil fuels
This ICJ ruling should be the moment we draw a line
Caroline Lucas@CarolineLucas
🚨BREAKING🚨 ICJ ruling that a healthy environment is a human right could be a real turning point in setting out governments’ legal responsibility to tackle #climate crisis 👇 theguardian.com/environment/20…
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@RelearningEcon “Stability” is a false idol in any case. Human civilisation is constantly changing and evolving, therefore change and instability is a fundamental feature.
Swim or be dragged
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"Stability or tranquility in a world with a cyclical past and capitalist financial institutions is destabilizing."
-Hyman Minsky
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@K_Niemietz He’s no different from the rest of the “economist” commie grifters
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This man is a cult leader. No other way of putting it.
Gary Stevenson@garyseconomics
If the government keeps losing its wealth the welfare state is over. On @LBC just now.
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@PatriciaNPino The banking system has injected hundreds of billions over the past decade and all it has done is increase inequality. Monetary policy has been essentially weaponised against the poor by economists like yourself who fail to understand production, and therefore the economy.
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The precarity of the UK economy has nothing to do with solvency. The UK has much *real* wealth. The precarity is brought about by the squandering of our wealth through the manufactured scarcity of money, by a govt that acts in the interest of the rentier (unproductive) class.
Patricia@PatriciaNPino
By insisting on enticing private sector investment with further cuts to wages and benefits, deregulation and tax cut “incentives” to the already wealthy you are merely exacerbating the problem and further increasing financial instability in an already precarious economy.
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Billy retweetledi
@RelearningEcon Why would I care about being judged by an ugly balding imperialist nonce
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@BarbellZen_ I know he would find your X account a barbarous relic.
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''In truth, the gold standard is already a barbarous relic.''
-John Maynard Keynes
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@PhilWMagness Truth is any old knobhead can call themselves an economist tbh
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This is hilarious. 25% of the signers of the "Economists for Zohran" letter are not even economists.
And Oren Cass hasn't signed yet, so there's still time to increase the percentage.
Econymous@EHPlimsoll1
@HannoLustig And at least 8 (25%) of them are not economists.
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Billy retweetledi
"The worker has become a commodity, and it is a bit of luck for him if he can find a buyer, And the demand on which the life of the worker depends, depends on the whim of the rich and the capitalists."
-Karl Marx
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Billy retweetledi
Cass is correct that economic laws are not induced from repeatable experiments but wrong that they are contingent and mutable. The law of demand, the principle of diminishing marginal utility, etc. are general, logical statements that hold independently of context. 1/
Oren Cass@oren_cass
2/ First, because it's disastrously inapt. Economics is nothing like physics. Its principles are not generated from repeatable experiments, nor do they hold consistently across space and time. Believing otherwise is a quite literal example of blind faith and fundamentalism.
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Billy retweetledi
Böhm-Bawerk's classic 1914 essay "Control or Economic Law" offers a concise statement of the problem. It would behoove the New Protectionists to engage this literature! 3/
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I could never lol
Tripp Yshevsky, Esq.@Tripp_Yshevsky
Working my first office job. Is it normal to have nothing to do?
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@GeorgeSelgin … then we could agree that burgers and burger restaurants would eventually all become part of the state-owned McDonald’s franchise or practically disappear.
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@GeorgeSelgin No but combined with the fact the money itself is controlled by state institutions, it does function as a sort of franchise of the state.
If the McDonald’s headquarters was moved to DC, became gvt owned, banned/punished other burgers from being sold and handed out licenses…
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Certain monetary writings insist that, because banks are usually licensed or chartered by governments, any currency they issue is really a product of the state. I suppose they also think that, wherever fishing requires a license, governments are really catching all the fish.
Go Wash Your Brains #MMT@AllredRd
@PhotobombingC So you've never read any MMT. I knew that. Banknotes were issued under govt license, demoninated in the state-defined unit of account. We have no record of a time with no state. The first know writing is a clay tablet recording a debt denominated in the state's unit of account.
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