Lucas M Engelhardt

@LadyArkham I feel like medicine wants to use empirical science - which is inherently uncertain and changeable - with the confidence of recommendations we're certain about. The result is what feels like a lie, but the "lie" is really just in overstated certainty.

@Chesschick01 @KevinTartis @elonmusk @paulg Did I tell you about the student that cited a newspaper article that had a publication date AFTER the paper was turned in? That was my favorite.

@ProfEngelhardt @KevinTartis @elonmusk @paulg I look forward to the updates 🤣

One pair of founders I talked to today were students at a top US university. I asked what percent of students don't use AI to write their papers for them. They said max 20%. Professors have given up trying to forbid it.

@KevinTartis @Chesschick01 @elonmusk @paulg At least last semester, there were some easy "tells" (generally involving non-existent sources, usually by "Smith, John"). But, LLMs are getting better, so I'm not sure if that will still be true in the Fall semester.

@Chesschick01 @elonmusk @paulg @ProfEngelhardt That even possible?

LIVE NOW: Game Theory with Dr. Lucas Englehardt at #MisesU youtube.com/live/iN80qJF74…

@jeffdeist Pretty sure the top 5% know better than to run.

It bears repeating: there are only 100 US Senators out of a 330M population. A Senate seat should be rarified air. Only the top 5% of Americans—in terms of intelligence, ability, wisdom and especially achievement outside of politics— should have the temerity even to consider seeking a Senate seat.

Happy Birthday, Lew Rockwell!

As I noted in my talk this morning at #MisesU, my latest book How to Think about the Economy is free in the Mises Store: paperback, PDF, and audiobook. Check it out at mises.org/primer . Get your copy today!

Kyle Rittenhouse looks different than I remember...

@PerBylund on how market economies produce interdependence and empathy. I love this!

This is known as the inflation tax—when the Federal Reserve prints money, it benefits the early receivers of the money (Wall Street) at the expense of the late receivers (the middle class).

A prime example of what my wife calls "Quaker sass" from William Penn. (To a Presbyterian clergyman that was condemning Quakers, and had set up a farce of a "debate" w/Penn.)

@POTUS Perhaps it's time to review Federalist #78.

The U.S. is the only major constitutional democracy that gives lifetime seats to its high court. We have had term limits for President of the United States for nearly 75 years. I believe we should have term limits for Supreme Court Justices of the United States as well.

Just to brag - From 2011-2020, Kent State University at Stark was ranked 55th most productive research institution in the area of Austrian Economics, putting us above Princeton and Oxford. procesosdemercado.com/index.php/inic…

Things I think about: if VP Harris asked me to be her VP, would I accept? The answer is no. Politics is terrible.

Students (and others) trying to answer "what should I do?", check this article out: 80000hours.org/career-guide/j…

@arcticwolfe I have no idea. It's such a common thing (apparently!), there must be some benefit, but I can't figure it out.

Haven't been on in a bit - but my main social media account is experiencing this: siliconangle.com/2023/05/28/fac…

@Friended4Ever Being paid in something doesn't create knowledge of its value in exchange against other things.

@ProfEngelhardt That's immaterial to the core argument of where the value of fiat currency comes from. Your argument about the soldier buying apples is flawed too. Any seller wants to get as much as they possibly can and the soldier knows what the paper is worth because he worked to earn it.

.@ProfEngelhardt please stop bringing up the cigarette/barter argument when talking about #MMT. You are literally making MMT's argument for the value of money. In prison, prison gangs function as the govt. They demand payment for security in cigarettes. This turns cigs to money.

@Friended4Ever @DorfGinger This might get labeled as "immaterial", but: (1) I don't deny that tax liabilities can influence the demand for money. (2) It seems far more likely that the original demand for cigarettes comes from direct use value than some kind of tax liability.

@DorfGinger @ProfEngelhardt If I say you owe me 500 cigarettes or I'm going to make your life very difficult, how are you not in debt to me?