Ask a guy who studies economics anything

More Than Mortal · June 12, 2015, 09:40:27 PM

Because fuck you, I'm bored and pulling an all-nighter.

Should be interesting enough though, given how esoteric the subject is.

alphy · June 12, 2015, 09:48:21 PM

did they make u take an econ class in high school

More Than Mortal · June 12, 2015, 09:49:14 PM

Quote from: Alphy on June 12, 2015, 09:48:21 PM

did they make u take an econ class in high school

No.

Didn't even have econ classes in high school.

Dan · June 12, 2015, 10:10:25 PM

Is the Illuminati real?

Hahahaha very funny Zonda · June 12, 2015, 10:12:13 PM

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🍁 Aria 🔮 · June 12, 2015, 10:12:30 PM

Explain why 2% inflation is optimal using words no longer than nine characters long.

Verbatim · June 12, 2015, 10:16:01 PM

precisely what do you hate about noam chomsky and why

from what i hear, even his detractors respect him as an intellectual adversary
and obviously, i've taken a liking to him in my readings

Batch · June 12, 2015, 10:16:16 PM

How do you feel that you'll just get a job in retail anyway?

More Than Mortal · June 12, 2015, 10:19:03 PM

Quote from: Prime Example on June 12, 2015, 10:12:30 PM

Explain why 2% inflation is optimal using words no longer than nine characters long.

Helps grease the wheels of the labour market, and combat nominal price rigidity.

ΚΑΤΑΝΑΛΩΤΗΣ · June 12, 2015, 10:19:58 PM

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Dan · June 12, 2015, 10:20:05 PM

Quote from: Meta Cognition on June 12, 2015, 10:19:03 PM

Quote from: Prime Example on June 12, 2015, 10:12:30 PM
Explain why 2% inflation is optimal using words no longer than nine characters long.
Helps grease the wheels of the labour market, and combat nominal price rigidity.

he skipped my question.
Illuminati confirmed.

🍁 Aria 🔮 · June 12, 2015, 10:20:05 PM

Quote from: Meta Cognition on June 12, 2015, 10:19:03 PM

Quote from: Prime Example on June 12, 2015, 10:12:30 PM
Explain why 2% inflation is optimal using words no longer than nine characters long.
Helps grease the wheels of the labour market, and combat nominal price rigidity.

Explain nominal price rigidity using words no longer than nine characters long.

More Than Mortal · June 12, 2015, 10:22:02 PM

Quote from: Verbatim on June 12, 2015, 10:16:01 PM

precisely what do you hate about noam chomsky and why

from what i hear, even his detractors respect him as an intellectual adversary
and obviously, i've taken a liking to him in my readings

Baby's first intellectual <- broadly sums up my views.

The guy's a fucking hack, and he should've stuck to linguistics. And yeah, he knows his political science, but he doesn't know economics. Chomsky's not a man for solutions, unless his one solution is to do exactly what Chavez did and get to the point where even being a massive oil producer will not help your economy.

Chomsky's entire spiel is that the human race is so fucked, and people too stupid to realise the "propaganda" around them, that his fans need do nothing but buy his books and attend his speeches.

More Than Mortal · June 12, 2015, 10:22:39 PM

Quote from: Prime Example on June 12, 2015, 10:20:05 PM

Quote from: Meta Cognition on June 12, 2015, 10:19:03 PM
Quote from: Prime Example on June 12, 2015, 10:12:30 PM
Explain why 2% inflation is optimal using words no longer than nine characters long.
Helps grease the wheels of the labour market, and combat nominal price rigidity.
Explain nominal price rigidity using words no longer than nine characters long.

The inability of prices to fall with demand, allowing the market to clear.

More Than Mortal · June 12, 2015, 10:23:14 PM

Quote from: Door on June 12, 2015, 10:19:58 PM

precisely what do you hate about minorities and why

dey turk ur jerbs

Batch · June 12, 2015, 10:25:28 PM

Quote from: Door on June 12, 2015, 10:19:58 PM

precisely what do you hate about minorities and why

Theyre poor and cover 80% of the population

More Than Mortal · June 12, 2015, 10:26:29 PM

Quote from: Batch on June 12, 2015, 10:16:16 PM

How do you feel that you'll just get a job in retail anyway?

I hope not.

I'd rather govern the Bank of England, and then crash the economy if the government won't do what I want them to.

But we'll see.

Verbatim · June 12, 2015, 10:27:50 PM

do you have any peers offline with whom you discuss these matters with, or are you alone

perhaps your parents?

Batch · June 12, 2015, 10:30:35 PM

Quote from: Meta Cognition on June 12, 2015, 10:26:29 PM

Quote from: Batch on June 12, 2015, 10:16:16 PM
How do you feel that you'll just get a job in retail anyway?
I hope not.

I'd rather govern the Bank of England, and then crash the economy if the government won't do what I want them to.

But we'll see.

Big ambitions too I see, I want Australia Post. I want to own it and fix all their stupid mistakes and business decisions.

More Than Mortal · June 12, 2015, 10:32:24 PM

Quote from: Verbatim on June 12, 2015, 10:27:50 PM

do you have any peers offline with whom you discuss these matters with, or are you alone

perhaps your parents?

Alas, I am alone but for my books.

My parents are dolts, and even the smartest among my friends have no grasp of economics.

Although I do wander onto r/economics, occasionally. It's a decent sub-reddit and the mods are actual economists so there's some good discussion.

Verbatim · June 12, 2015, 10:35:43 PM

i think it's kinda cool how we have the law guy, the psychology guy, the economics guy, and the language guy

we need a math guy

More Than Mortal · June 12, 2015, 10:36:28 PM

Quote from: Verbatim on June 12, 2015, 10:35:43 PM

i think it's kinda cool how we have the law guy, the psychology guy, the economics guy, and the language guy

we need a math guy

We have Turkey.

Verbatim · June 12, 2015, 10:44:13 PM

what is your personal solution to the prisoner's dilemma

ie. if you were one of the prisoners, what would you do

More Than Mortal · June 12, 2015, 10:58:12 PM

Quote from: Verbatim on June 12, 2015, 10:44:13 PM

what is your personal solution to the prisoner's dilemma

ie. if you were one of the prisoners, what would you do

If I were one of the prisoners? Nash equilibrium suggests I should defect, but Pareto efficiency would have me co-operate. Actual prisoners tend to be highly co-operative when actually posed with the dilemma, but the model itself (if I understand it correctly; game theory isn't my strong point) overlooks a number of behavioural biases. They may well have more to gain by defecting in terms of the rewards in front of them (cigarettes, when actually studied) but being known as a snitch in such a culture is sure way to get got so I'd say they acted rationally.

Were I doing it, however, I'd probably defect. Simply because I'm ambitious to a fault.