Few subjects cause as much confusion as QE. The confusion arises due to the politicization of the issue, as well as common misunderstandings and misconceptions about QE that reverberate throughout the blogging/media echo chambers. There are three major misconceptions about QE: 1. QE is money printing 2. Stocks are rising because of QE – and… Continue reading Economics Myths, Part 5: QE (Quantitative Easing) Misconceptions
Month: October 2015
IQ and Morality; IQ and Job Performance
From Henry Dampier, Sucks To Your IQ: It’s a profound mistake, however, to act like it’s the only thing that matters, to say that grouping people into a country or institution based on their innate intelligence alone is the way to make the Tower of Babel political construct work properly. // In a similar way… Continue reading IQ and Morality; IQ and Job Performance
NRx Should Be Anti-Populist
As discussed earlier, NRx is almost indistinguishable from Red Pill, both of which also share many similarities to paleoconservatism. IMHO, the problem with Paleoconservatism is that, like the far-left, it tends to be populist. For the far-left, it’s ‘the prole vs. the rich, big corporations’; for the populist right, it’s ‘the prole vs. big govt.,… Continue reading NRx Should Be Anti-Populist
NRx = Red Pill
Awhile back it occurred to me NRx is pretty much the same as Red Pill, but with a few differences: NRx advocates a ‘monarchy/autocratic’ form of government and is more racialist, whereas Red Pill is more focused on gender issues but is less racialist. But aside from that, there is a substantial ideological overlap: both… Continue reading NRx = Red Pill
The Millennial Mindset, Part 2: Philosophy and Wealth
Pertaining to the third ‘great debate’ topic, economics, the meme above about baby boomers being materialistic, spendthrift hypocrites went viral today on Imgur, with thousands of smart millennials on Reddit and Imgur up-voting and commenting in agreement that baby boomers are at least partially to blame for the mess that millions of millennials find themselves… Continue reading The Millennial Mindset, Part 2: Philosophy and Wealth
The Daily View: #pissforequality Hoax, Expatriated Cash, Unions Need More Money, Huge Web 2.0 Salaries
NSFW Feminists Fall For #PissForEquality Hoax According to Right Wing News, a few n’er do wellers on 4chan had a brilliant idea: see if they could convince people to, “publicly piss/sh*t their pants in the name of ‘Equality?’” Site likes 4chan are leading the post-2013 SJW backlash, with great success as thousands – maybe millions… Continue reading The Daily View: #pissforequality Hoax, Expatriated Cash, Unions Need More Money, Huge Web 2.0 Salaries
Economic Myths, Part 4: Job Creation is Good
Dyseconomics, developed in 2011, describes how an economic system that is optimal for growth and technological expansion is one where, counterintuitively, the economic contributions of the majority of individuals goes to zero relative to the size of the overall economy, a version of the Pareto Principle as applied to macroeconomics. It also describes the counterintuitive… Continue reading Economic Myths, Part 4: Job Creation is Good
The British Origins of HBD
This story is kinda old, but UK TV presenter Katie Hopkins recently got into hot water by the UK liberal left for suggesting that dementia patients ‘blocking beds’ is an ineffective use of public resources, especially since they have little or no sensory perception. I agree, public goods (such as public healthcare) should be optimized… Continue reading The British Origins of HBD
Economics Myths, Part 3: Full Employment is Good
Some may be surprised to learn that ‘full employment’, as defined by a 0% or near 0% unemployment rate, is neither feasible nor economically desirable. The definition of ‘full employment’ can have many meanings, the definition accepted by economists generally allows for some unemployment, but for ‘full employment’ to occur anyone who wants to work… Continue reading Economics Myths, Part 3: Full Employment is Good
Falsifiability, String Theory, and Policy
An interesting post by Noah Theory vs. Data in economics. This is related to the long-standing debate over falsifiability and science, and this ties into Popper’s demarcation problem: Logically, no number of positive outcomes at the level of experimental testing can confirm a scientific theory, but a single counterexample is logically decisive: it shows the… Continue reading Falsifiability, String Theory, and Policy