Indeliblelink
\......👁&👁......./
BBC has this freeze frame of Truss on their frontpage ATM.
I can see some Munch photoshops appearing soon.
I can see some Munch photoshops appearing soon.
Tory Leadership contest 2022
- Thread starter brogdale
- Start date
teuchter
je suis teuchter
Ok. So is inflation caused by people putting up their prices but only if the people putting up their prices are capitalists?
bimble
floofy
Economics is so much more interesting than people would like it to be.
Someone with an economics phd who i asked about Sunak's claim that tax cuts = inevitable inflation said this;
"either you can make a model that looks like reality, but it's so complicated that you can't learn anything from it, or you can make a model that's simple enough to learn from, but then it doesn't behave like reality".
I think mostly we choose simple, not caring about how it maps onto reality.
Someone with an economics phd who i asked about Sunak's claim that tax cuts = inevitable inflation said this;
"either you can make a model that looks like reality, but it's so complicated that you can't learn anything from it, or you can make a model that's simple enough to learn from, but then it doesn't behave like reality".
I think mostly we choose simple, not caring about how it maps onto reality.
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Elpenor
Dancing as fast as I can
That sound you can hear is Sunak’s wallet falling out of his pocket landing on the floor
agricola
a genuine importer of owls
SpookyFrank
A cheap source of teeth for aquarium gravel
Well workers don't generally get to dictate the price of their labour so yeah.
Any other basic thinking you need help with, please don't hesitate to ask someone else.
emanymton
A cat politely sat on the flaming gardener.
So basically he has a PHD in a meaningless subject.
teuchter
je suis teuchter
Workers get to raise the price of their labour in various circumstances.
SpookyFrank
A cheap source of teeth for aquarium gravel
First time she's actually looked like Thatcher. You can almost hear that deathly croak of a voice, although it'd have to be saying something mind-crushingly banal.
bimble
floofy
yep. if i could study a thing now it would be economics, so much more esoteric than say the kabalah (seriously i would).
emanymton
A cat politely sat on the flaming gardener.
Like when they take collective action to reduce the level of exploration.
teuchter
je suis teuchter
For example. Yes.
SpookyFrank
A cheap source of teeth for aquarium gravel
But, aside from freelance management consultants and other people who don't count as workers because they don't do any work, can they unilaterally raise their own pay from one day to the next, the way a capitalist can unilaterally raise prices from one day to the next? No. If they fight tooth and nail, alongside lots of other workers and a decent union, for months or years then they might just claw their way up to parity with the rate of inflation.
SpookyFrank
A cheap source of teeth for aquarium gravel
But he's found a long-winded way of saying it and that's the important thing.
bimble
floofy
These potato farmers, they are capitalists right?
UK facing drought in August following extreme heat
Hosepipe bans could be brought in and farmers restricted from irrigating crops
teuchter
je suis teuchter
Firstly, a self employed plumber (for example) can raise their prices in a period of high demand.
Secondly, I don't see how a capitalist can "unilaterally" raise prices from one day to the next because if they raise them too high no-one will pay them, unless they are in the special position of having a monopoly.
But if we can agree that either of those two can raise their prices to some extent in certain circumstances I don't see why it's only plausible that the capitalist's price rises could have some impact on inflation.
bimble
floofy
its not long winded! it just says we do not know, economics is complicated, if you want a simple story pick one and enjoy it but don't expect it to reflect reality, that's all.
SpookyFrank
A cheap source of teeth for aquarium gravel
So his discipline is incapable of producing testable predictions.
At least the tarot card woman at the funfair pretends to have a legitimate method of generating useful information. But these economics clowns are openly admitting that they're just sticking pins in the phone book.
teuchter
je suis teuchter
There's pretty much a whole field of study which is about trying to understand complicated systems via simplified models, because it simply isn't possible to model them in full. Naturally it involves fully understanding the limits of the models you do have and making judgements about the extent of their reliability when drawing conclusions from them. It's not like simplified or incomplete models are necessarily useless.
Elpenor
Dancing as fast as I can
I think economics has more in common with religion than science. Other than on the most basic self evident transactional trueisms. i.e. you have potatoes I'm hungry and have gold.
SpookyFrank
A cheap source of teeth for aquarium gravel
My mate has been boycotting food on account of the price hikes. Dunno how he's getting on with it though, because he's gone a bit quiet lately for some reason.
SpookyFrank
A cheap source of teeth for aquarium gravel
'Our economic models are so complicated you wouldn't understand them' does sound a lot like, 'god's will is ineffable, shut up and pay your tithe peasant'.
bimble
floofy
absolutely, it seems to be at least 3/4s about the psychological issues of the human animal observed in large numbers. The stock exchange loved trump, for instance, and people buy NFTs instead of tinned mackerel, its not any kind of science it belongs in a prefab bolted onto the anthropology department if anywhere.
teuchter
je suis teuchter
As you said, you might not be the best person to come to for basic thinking demonstrations.
Sasaferrato
Super Refuser!
Isn't it always? Irrespective of candidate or party?
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