Gabe Econ 🌐
@GabeEcon
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Free Markets. Free People. Using economics to create a better world. Undergraduate studying Econ and Math
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Joined December 2021
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@NoamKissinger
Milton Friedman gave intellectual backing to Reagan's overall free market approach, but his influence on policy is probably smaller than Laffer's.
Friedman more impacted monetary policy (money growth targeting and the recognition central banks handle inflation)
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@wwwojtekk
Ironically, Krugman cites Mankiw (1991) to make his point, but the paper lays out a great case for the impact Lucas (and Friedman) had on macroeconomics, and emphasizes the problems with 70’s style Keynesian macro.
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@BrianCAlbrecht
Great thread. I always compare price controls to throwing out your bathroom scales when you’re overweight. You still have the problem, but you’re concealing the information that’s conveying it, and that’s not cost less.
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@PoliticsFan10
I’m not sure what that really is tbh. If it’s just Biden’s policy on economics so far I’m not too happy about some things other things I like just depends.
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@PoliticsFan10
Some policies I like: expanded CTC, fiscal responsibility bill he recently signed, and infrastructure bill
Some policies I don’t: ARP, student loan forgiveness, industrial policy, and protectionism.
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@elonmusk
@Noahpinion
This is such a horrible take.
Increasing the costs of invading a democratic country and allowing the Ukrainians to protect themselves is good foreign policy.
Incentives matter.
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@scottlincicome
But industrial policy is the new buzzword among the left and right so it has to be correct!
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@micah_erfan
This seems a little unfair to Jesus. Jesus never discussed the morality of same-sex marriage and reflected 1st-century Judaism on sexual ethics.
Describing Jesus as a babbling peasant is wrong, considering his teachings on morality are respected by religious and secular alike.
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@WillRuger
Why exactly is Russia having trouble in Ukraine? Could it be the military aid and support of the US and western governments? If Russia didn’t face enormous military costs of expanding its military into other European countries they would.
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@micah_erfan
Haley and its an easy decision.
On social issues like abortion and gay marriage Haley would be pretty constrained considering the Respect for Marriage Act was passed and Roe is already gone so its mostly a state issue now.
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@besttrousers
Yep, large declines in unionization in other countries too.
Probably smaller declines though depending on the political environment.
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@micah_erfan
The most intriguing to me is the Plantinga ontological argument. Generally, I think the most compelling arguments in order
1. Kalam
2. Cosmic fine turning
3. Moral
4. Ontological
(There are a few others like Applicability of Mathematics but I’m not familiar with them)
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@besttrousers
@MarcGoldwein
I suppose it’s not being a shrill to accuse a presidential administration of falsifying BLS data without any evidence and then calling others whack conspiracy theorists when they suggest the same thing.
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@Brian_Riedl
@RachaelBL
Some people will never give up the defense spending myth causing every problem.
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@scottlincicome
I haven't made the connection yet, but I'm sure some protectionist trade policy is to blame.
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@IA_Invernomuto
I think Friedman, regarding the welfare state, was mostly concerned with the costs of a large welfare bureaucracy and the negative incentives certain welfare programs have (ex: high implicit marginal rates) but he did support basically sending cash to poor individuals (NIT)
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@shanewallick
Your claim seems to be more about lowering the income of executives than actually helping workers because mandating lower CEO pay wouldn’t help workers.
A bad CEO can ruin a large corporation in a competitive market.
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@neocentrist
Tell me when Gary Becker helps us achieve a soft landing.
(Joking Gary Becker should’ve been on the list)
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@TruthSeeker108
@mchill613
@jeremykauffman
Imagine being this anti-Semitic and idiotic on biblical scholarship.
Jesus wasn’t killed because he rejected sacrifices (not original to Jesus). Currency conversion was needed in the temple to convert Greek and Roman currency to Jewish currency to pay for temple services.
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@milton_democrat
Ran out of space to explain. Basically it would be fully funded through cuts in spending elsewhere or increase in taxes like a consumption or carbon tax.
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@jasonfurman
A badge of honor. If the Kremlin sanctions you, you know you are doing something right.
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@CPGallagherNYC
@nominalthoughts
I think both of you are operating under the Great Recession framework of spend and ask questions later.
This wasn’t the case, nor do I think the costs of inflation and the disinflation we are now experiencing are worth the spending.
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@Lib_Development
@neocentrist
@RISCthik
They should’ve kept nominal spending (aggregate demand) from falling.
Note the fall of NGDP during the period.
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@kingofthecoastt
By voucher here, I mean an amount of money given to families with children to use on schooling, that meet a limited set of standards set out by the government.
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@micah_erfan
I think we agree on the religious part of Jesus (considering I’m Jewish).
But I will defend the historical Jesus from the silly New Atheist childish hits. Jesus not understanding mathematics and science has nothing to do with historical questions on his position on marriage.
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@RedmondBarry7
If bonds are changing hands, it won't cause inflation unless they are purchased with "money printing" and increase the supply of money.
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@LittleKeegs0
We can have low unemployment and above-average sustainable growth without having high inflation (like we saw in 2018) without the costs that go along with disinflation
Once spending closes the gap between actual and potential GDP, you are getting inflation.
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