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.

Comments

Zeitardation

A Youtuber called axe863 made a video in which he used scientific, mathematical and statistical common-sense to deliver the KO that the Venus Project and Zeitgeist Movement so richly deserved. If his approach seems weird and unconventional it's because he's not attacking from a tradition neoclassical or Keynesian perspective. Axe863's poison is complexity economics, something a good deal more dangerous to ideas like TVP and TZM. [ 2 ] Now to a couple of comment threads from below the video that I thought could od with being replicated just in case they get deleted at source! ~~~ AstralLuminary 1 year ago Why can't we generalize the consumption patterns of middle-income people in the western world, set our constraints equal to the amount of localized resources, and the rate of resource recovery, derive a population growth model that would be sustainable to said consumption patterns, and derive the necessary quantifiable amount of work required to expen...

World Hunger - Getting Better or Worse?

Thinking about how rates of hunger have shifted over the last 25 years led me to the Global Hunger Index , which covers - wait for it - the last 25 years. What do we see by looking at their figures for hunger in different countries in the years for which data are available? The Global Hunger Index uses aggregated statistics to arrive at a 'score' for every country studied in a given year with 0 the ideal and 50+ an absolute nightmare of near famine-level proportions. If you were switched-on enough to follow the link above you probably noticed it includes an interactive world map showing the change in rates of hunger for folks in many countries that might best be described as low-income or middle-income. An illustration of the score system is just below. And just in case it wasn't already obvious that everything is getting better, here is the data for all of the individual countries measured on a scatter plot in terms of their reduction in GHI score from 2000...

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 cla...

AynCrap

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