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
Author: smartistone
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
Economics Myths, Part 2: America Is In Decline/The Dollar Is Weak
This is part two of the ongoing economics myths series. A common refrain among the media these days is that ‘America is in decline’ or that the ‘dollar is going to become obsolete’. The Economist has jumped onto the dollar-is-doomed bandwagon, with the article The primacy of the US dollar looks unsustainable, which offers no… Continue reading Economics Myths, Part 2: America Is In Decline/The Dollar Is Weak
Economics Myths, Part 1: Budget Surpluses Are Always Good
This is the first post of a multi-part series of common economics misconceptions. Economics may be the ‘gloomy science’, but it also tends to be a counterintuitive one as well. The media, often ignorant about the intricacies of macroeconomics, unwittingly spread these fallacies to the general public, as well as regurgitated by politicians who, like… Continue reading Economics Myths, Part 1: Budget Surpluses Are Always Good
The New Mainstream Media
As I’ve mentioned before, there are three ‘great debates’ raging online now: the debate about economics and automation, the debate over college and whether or not it’s worth it, and the SJW/gamergate one, which is related to the ongoing online implosion of the SJW movement. The SJWs are losing their war on Gamergate that is… Continue reading The New Mainstream Media
Eugenics Summary, and HBD-Based Policy
Concise summary of eugenics by polymath Martin Sewell. The most important passage: Herrnstein and Murray found that when they moved the average IQ down statistically by just 3 points, from 100 to 97, all social problems were exacerbated: the number of women chronically dependent on welfare increased by 7%; illegitimacy increased by 8%; men interviewed… Continue reading Eugenics Summary, and HBD-Based Policy