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Some cool posts on r/badeconomics

The subreddit called Badeconomics is a great place to go if, like me, you are trying to nudge your way towards being serviceably knowledgeable about economics. So I decided to share a few links to posts that recently pleased me...

Badecon posts re often so-called R1s in which an article, book, video or other piece is savaged for its economic illiteracy. The links that kick off each paragraph below are R1s added in the last two months.

Socialism is astonishing... Apparently economic growth over the past two centuries has not also led to growth in leisure time... despite clear data showing that it has.

Most Americans don't understand basic economics and r/Socialism thinks that's great... This R1 is attacking this post wherein some silly sausages get all confused over the significance of the opinions expressed in the survey, and over the consequences of actually implementing those policies.

Economists... a piece critical of economics using the matter of causes of the financial crisis of 07-08 as its in.

"Economics needs a scientific revolution..." blah blah fucking blah... Hal Varian wheezing about econ being mushy, followed by some pointers about useful things economics has given us in just the last few decades.

Low hanging fruit... in which somebody has apparently argued that capitalism has not lifted millions out of poverty at all in the late 20th and early 21st Centuries. I have encountered this guy and his economic illiteracy in the past but let it slide despite his being a professor at the LSE.

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So I was reading a piece on The Outline about identity politics when the author, Sean McElwee, brought up a survey he had penned and collated to establish how positions on economic and racial issues align;
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Commentaryism - The Death Toll of Capitalism

How many people have died because capitalism exists? How many would still be alive if it had never existed? Let's dig in!

We will take two approaches over the course of this blog post by looking at the the death tolls attributed to the word in its broad popular definition - everything socialists don't like - versus the toll that fits the definition offered previously on this blog.

By the same token I will not lay any outsized figures at any other mode of production's door except where that mode of production demonstrably caused the problem that killed people. It's political ideologies that really matter here, and this is where the first big problem with even trying to lay a specific body count before capitalism runs into problems - there is no political ideology called capitalism.

Now then, Alfonso Gutierrez says in a comment thread that "capitalism and free-markets have murdered billions of people" which is a risky claim at the …