Curt Doolittle

Category: Economics, Finance, and Political Economy

  • Curt Doolittle updated his status.

    (FB 1551449375 Timestamp) ECONOMICS IS THE STUDY OF PEOPLE by Stephen Thomas (mutliple quotables in this one) Economics is not really the study of money or financial systems. It’s the study of people and groups and the behaviors of each/both. The more I have studied it. The more I realize. I am not learning about anything other than people. The People are the market. Markets in everything is not how we want it to be. Markets in everything is how we already are without externals forcing to be behave otherwise. Need(desire) > Incentive(demand) > Motivation > Action > Result(Failure/Success) > Need(desire) This seems to be the cycle of nearly all human actions.

  • Curt Doolittle updated his status.

    (FB 1551451448 Timestamp) u·su·ry [ˈyo͞oZH(ə)rē] NOUN the illegal action or practice of lending money at unreasonably high rates of interest. Why would there be laws against excessive interest rates?

    1. I loan you money. you pay me many times the original amount. and you can’t catch up, ever…..

    2. I loan you money, you cant pay, I take your house….

    3. I loan you money, you can’t pay, you have to resort to crime, others are harmed….

    In each of these circumstances the public is now carrying you as a burden, while the usurer is free riding on the public because he succeeded in baited you into moral hazard. As such it breaks the prohibition on negative externality. It breaks productivity by benefitting disproportionately from the suffering of others. It breaks asymmetry of information by asymmetry of incentive (taking advantage of the moment). The actor has no material skin in the game and no warranty. So we say instead the usurer has a negative due diligence. It’s “baiting into moral hazard.” TEST OF RECIPROCITY (Morality): Productive, (fail) Fully Informed (baited into optimism) Warrantied, (fail) Voluntary Transfer (“under duress”) Free of Negative Externality (fail)

  • Curt Doolittle updated his status.

    (FB 1551449425 Timestamp) —“Markets in everything is not how we want it to be. Markets in everything is how we already are without externals forcing to be behave otherwise.”—Stephen Thomas

  • Curt Doolittle updated his status.

    (FB 1551449375 Timestamp) ECONOMICS IS THE STUDY OF PEOPLE by Stephen Thomas (mutliple quotables in this one) Economics is not really the study of money or financial systems. It’s the study of people and groups and the behaviors of each/both. The more I have studied it. The more I realize. I am not learning about anything other than people. The People are the market. Markets in everything is not how we want it to be. Markets in everything is how we already are without externals forcing to be behave otherwise. Need(desire) > Incentive(demand) > Motivation > Action > Result(Failure/Success) > Need(desire) This seems to be the cycle of nearly all human actions.

  • Curt Doolittle updated his status.

    (FB 1551451448 Timestamp) u·su·ry [ˈyo͞oZH(ə)rē] NOUN the illegal action or practice of lending money at unreasonably high rates of interest. Why would there be laws against excessive interest rates?

    1. I loan you money. you pay me many times the original amount. and you can’t catch up, ever…..

    2. I loan you money, you cant pay, I take your house….

    3. I loan you money, you can’t pay, you have to resort to crime, others are harmed….

    In each of these circumstances the public is now carrying you as a burden, while the usurer is free riding on the public because he succeeded in baited you into moral hazard. As such it breaks the prohibition on negative externality. It breaks productivity by benefitting disproportionately from the suffering of others. It breaks asymmetry of information by asymmetry of incentive (taking advantage of the moment). The actor has no material skin in the game and no warranty. So we say instead the usurer has a negative due diligence. It’s “baiting into moral hazard.” TEST OF RECIPROCITY (Morality): Productive, (fail) Fully Informed (baited into optimism) Warrantied, (fail) Voluntary Transfer (“under duress”) Free of Negative Externality (fail)

  • Curt Doolittle updated his status.

    (FB 1551449425 Timestamp) —“Markets in everything is not how we want it to be. Markets in everything is how we already are without externals forcing to be behave otherwise.”—Stephen Thomas

  • Curt Doolittle updated his status.

    (FB 1551641028 Timestamp) —“The closer one gets to the top of one of these hierarchies the more one realizes how absolutely dependent one is on those below. Finance is nothing without the entrepreneur. Generals are nothing without warriors.”—Michael Churchill

  • Curt Doolittle updated his status.

    (FB 1551641028 Timestamp) —“The closer one gets to the top of one of these hierarchies the more one realizes how absolutely dependent one is on those below. Finance is nothing without the entrepreneur. Generals are nothing without warriors.”—Michael Churchill

  • Curt Doolittle shared a link.

    (FB 1551794152 Timestamp) HOW DO I LEARN ABOUT ECONOMICS https://propertarianinstitute.com/2017/03/23/qa-curt-how-do-i-learn-about-economics/

  • Curt Doolittle updated his status.

    (FB 1551793063 Timestamp) THE PLACE OF AUSTRIAN (JEWISH) ECON, AND PRAXEOLOGY Well, Testimonialism tells us that if you can’t state an economic proposition in operational (praxeological) language then (a) either you don’t know what you’re speaking of, (b) that you are not engaging in a full accounting and are cherry picking, or (c) that you’re just engaging in fraud. That’s the net result of the austrian method: falsificationary operationalism. No more lies means no more ‘mathinesss’ that obscures the underlying operations.