AynCrap

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...

Have a second helping of links to articles at aeon.co, for all your random intellectual grazing needs. HISTORY https://aeon.co/ideas/the-madras-observatory-from-jesuit-cooperation-to-british-rule https://aeon.co/ideas/how-white-people-were-invented-by-a-playwright-in-1613 ECON https://aeon.co/ideas/the-economy-is-more-a-messy-fractal-living-thing-than-a-machine https://aeon.co/essays/how-economists-rode-maths-to-become-our-era-s-astrologers https://aeon.co/essays/the-anglo-saxon-is-not-american-or-british-but-a-french-alter-ego ETHICS https://aeon.co/essays/if-your-pay-is-not-yours-to-keep-then-neither-is-the-tax https://aeon.co/essays/how-the-bloody-field-of-battle-made-way-for-precision-drones POLITICS https://aeon.co/essays/does-photography-make-us-act-or-inure-us-to-despair https://aeon.co/essays/the-end-of-a-world-of-nation-states-may-be-upon-us https://aeon.co/essays/why-a-moratorium-on-microaggressions-policies-is-needed NATURE htt...

The Beeb has produced a fifty-part radio serial about things that created the modern economy. Listen, peon!

George Monbiot is shilling for the glorious red future again. This isn't the first time he's written about neoliberalism this year, so I guess this is  on his mind a fair bit. He even did a video for Verso on the subject. Having read David Harvey's book on the same subject I am disinclined to humor any nonsense about neoliberalism anymore than I am about cultural Marxism. ~ a. neoliberal laundry ~ 1. Monetarism in central bank policy 2. Privatization of lots of government organisations 3. Deregulation of many or all industries 4. Tax decreases as absolute quantities 5. Re-balancing of labor laws to be more than 50% in favor of employers 6. Decrease in funding for or abolition of state welfare benefits Did I miss anything? To what extent have the countries of the world implemented these policy changes since 1970? Well, Chile managed all six but went back to a 50/50 split in labour law when Pinochet was ousted. So that's one country. The USA did 1 a...

The idea that labor exploits capital is equally as plausible, sans assumptions*, as the idea that capital exploits labor. This is only intended as a response to the formal concept, descriptive or normative, of exploitation in Marx's schema from Capital Volume I. * Assumptions include the power relation whereby capital is just assumed to be above labor hierarchically. ~ ~ Capital exploits labor because... ... Capital earns income from production done by labor that capital didn't perform & ~ Labor exploits Capital because... ... Labor earns income from capital that labor didn't buy ~ Basically in good old formal logic fashion both of those cases above, being factual descriptions, are true at once or are false at once.

This will literally be two short linky descriptions. Seriously, go away and watch both videos. Mario Karts are real! And they are in Tokyo right now! Also, capitalism is useful to more than just capitalists.

... No . There is no reason to suggest that automation will dramatically increase unemployment in the short term, or at all in the long term. Seriously, it will not . Do read the links in the order in which they appear please. Finding the right comments in the third link might be quite interesting. They are all by a user called BestTrousers and start with "RI" meaning R1. The main argument used by HealthcareEconomist3 is to give a survey of several works, while BestTrousers goes for comparative advantage .