Old Man Yelling at Cloud

No lies detected. southernfriedscience.com/twitter-sucks-…

Opportunity costs

@SarahHuckabee @realDonaldTrump Never? en.m.wikipedia.org/wiki/Little_Ro…

What’s happening in California would never happen here in Arkansas because we value order over chaos. President @RealDonaldTrump does too, which is why he is doing what Governor Newsom won’t.

@itaisher If only there was a way we could have known a second trump administration would wreck the economy with tariffs and play fast and lose with classified information, right?

I really wish voters could have gotten a two month preview of the second Trump administration before voting.

@ass_deans Just kidding. We're doing both.

We decided we need faculty input for this one, so time for a survey! Would you prefer we increase your course load or cut your take home pay?

@KhoaVuUmn I literally spent 2 minutes reading this thinking textboom was some new hip slang the kids are using.

@besttrousers Less than 50% could still mean a lot and could still mean we should care about it, even if the trend has generally improved.

Or it's just not particularly true.

@ATabarrok Seems like an economies-of-scale industry that would call for regulation rather than antitrust policy.

Bonkers op-ed by Lina Khan in NYTimes. She argues that we must break up US firms like Google, Apple, and Meta to compete with China’s more open and more competitive system. Unreal.

@ArmandDoma Same guy. Fun times.

how did we lose an election to people this stupid

@AndrewYang Republicans are fare more unified in their dislike of Democrats than Democrats are in their support.

Yikes.

@kearney_melissa This is delusional. First, Trump will find ways to blame Democrats, libs, or whomever or claim we just didn't do his plans enough. Second, his working class supporters will not turn no matter how bad things get because they think he's actually doing this to help them.

I am genuinely trying to keep an open/optimistic mind to an alternative economic story that doesn’t end in pain for US consumers & producers, but it requires rejecting so much analytical reasoning & empirical evidence that I can’t do anything other than hope that Trump likes being liked too much to keep this in place while people get increasingly upset about higher prices and worsening economic conditions at home.

@APompliano Profit maximization by us forms implies that us forms will match prices to what foreign firms must charge and (in the long run) expand production using costlier us resources.

If you don’t want to pay higher prices on tariffed goods, then buy American made products. Pretty simple.

Tough math teachers get lower ratings from students, because students like them less. However, students get better grades with the tough teachers than with laxer teachers. Reason #167 why student evaluations of teaching aren’t particularly useful. [Link below.]

@besttrousers I'm just gonna put this here for all the reply guys who just "feel" that simple competitive-market supply effects MUST dominate, because vibes. nber.org/papers/w32389

This is a good example of how math!=economics. Immigration shifts supply *and* demand for labor to the right. Eric forgot about the latter.

@besttrousers @TonerousHyus Many recent papers find POSITIVE wage effects, someone's depending on skill! nber.org/papers/w32389

@TonerousHyus > Every study going back 30+ years shows that immigration depresses wages. No, this is inaccurate. Studies generally find that the impact can't be differentiated from zero. You have to actually read the papers!

@PassiveObs77464 @besttrousers The question isn't trivial and is 💯 empirical. Theory can't predict the sign and empirical studies range from small negative effects, to mixed effects depending on skill, to more recent studies finding uniform positive wage effects for immigration on wages.

Yes. It is trivially easy to do good work with CPS data that suggests expanded labor supply reduces wages, despite the corresponding increase in labor demand. But as I said, the tricky part is getting that published. If you don't know social scientists who can't get work that runs counter to the narrative published, no matter how strong it is, you either don't speak to many of your colleagues or they don't trust you enough to speak to you honestly.

@besttrousers Tbf, so does almost every undergraduate economics textbook. I always mention it, but I must just a hippie leftist because otherwise it'd be in the book.

Schiff told no "abject lie" #KashPatel the Internet kept receipts of your fun little ditty to raise money for January 6 rioters. apnews.com/article/j6-cho…

@Noahpinion Are we saying that social security and Medicare aren't welfare programs then?

At some point, Republicans were always going to figure out that Medicaid is our biggest welfare program, and that people only think of it as "insurance" because they made its name similar to Medicare

@Chiefs haters, help me out. If the games are "rigged" then why would the NFL rig them in a way that's so unpopular and risk alienating longtime fans? The incentives just don't align with the "rigged" narrative, IMHO. #NFL #NFLReferees