Curt Doolittle

Category: Economics, Finance, and Political Economy

  • keynes2 does not know what he is arguing against. prop is the red pill on all ec

    keynes2 does not know what he is arguing against. prop is the red pill on all econ schools.

    Source date (UTC): 2018-05-28 20:00:00 UTC

    Original post: https://twitter.com/i/web/status/1001191379580669952

    Reply addressees: @Voltaire1778__8 @Lord_Keynes2 @Septeus7 @Slysneak @LambsRegret @GeolibGeorge @jappleby123 @Noahpinion

    Replying to: https://twitter.com/i/web/status/1001187770365366272

    IN REPLY TO:

    Original post on X

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    Original post: https://twitter.com/i/web/status/1001187770365366272

  • 1 – Austrian: Economic Rule of Law. (max calculation, incentive, capitalization)

    1 – Austrian: Economic Rule of Law. (max calculation, incentive, capitalization)
    2 – Chicago: Economic insurance and redistribution (min disruption of calculation, incentive, calculation)
    3 – Saltwater: Economic Discretionary Rule (max consumption, decapitalization, dysgenia)

    Source date (UTC): 2018-05-28 19:58:09 UTC

    Original post: https://twitter.com/i/web/status/1001190911546716162

    Reply addressees: @Lord_Keynes2 @Voltaire1778__8 @Septeus7 @Slysneak @LambsRegret @GeolibGeorge @jappleby123 @Noahpinion

    Replying to: https://twitter.com/i/web/status/1001189050710151173

    IN REPLY TO:

    Unknown author

    @Lord_Keynes2 @Voltaire1778__8 @Septeus7 @Slysneak @LambsRegret @GeolibGeorge @jappleby123 @Noahpinion But that says nothing about the study of social science and the minimization of frictions in cooperation without violating rule of law(non discretion), natural law(reciprocity), morality(non-externalization of costs), truth(non distortion of information), meritocracy (eugenics).

    Original post: https://x.com/i/web/status/1001189050710151173

    IN REPLY TO:

    @curtdoolittle

    @Lord_Keynes2 @Voltaire1778__8 @Septeus7 @Slysneak @LambsRegret @GeolibGeorge @jappleby123 @Noahpinion But that says nothing about the study of social science and the minimization of frictions in cooperation without violating rule of law(non discretion), natural law(reciprocity), morality(non-externalization of costs), truth(non distortion of information), meritocracy (eugenics).

    Original post: https://x.com/i/web/status/1001189050710151173

  • Ancap = Ukraine: maximum corruption, maximum rents, maximum organized crime, min

    Ancap = Ukraine: maximum corruption, maximum rents, maximum organized crime, minimum prosperity, impossibility of self defense, with certain (((groups))) conspicuously favoring that parasitic model.

    Source date (UTC): 2018-05-28 16:08:58 UTC

    Original post: https://twitter.com/i/web/status/1001133237555597312

    Reply addressees: @absolutelysubv

    Replying to: https://twitter.com/i/web/status/1001131965293228032

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    Original post: https://twitter.com/i/web/status/1001131965293228032

  • By Lee Tucker Some of my thinking was ‘catalyzed’ by Matt Levine at Bloomberg di

    By Lee Tucker

    Some of my thinking was ‘catalyzed’ by Matt Levine at Bloomberg discursively talking about gold.

    Sure, the modern Cathedral can dismiss gold as a negative carry, non-interest bearing flight of fancy valued by fools (disclosure: I do own gold but not in size).

    Mr Levine basically said (paraphrased) well, hang on, gold historically has been a social-proofing status enhancer.

    Why? To woo a Prince or Princess with a Golden Crown embedded a statement that one is in control of mining technologies, distribution networks, protected storage, rendering skills into consumer goods, and marketing technology.

    Is crypto mining really that different?

    Instead of digging dirt we are digging digital constructs.

    The successful arbitrage is ruthlessly exploiting tax, energy, labor and chip technology to maximize coin intake. And not inconsiderable skill to choose which coin to mine.

    For all of my friends who challenge me crypto is utter chaff, please deliver me 5　bitcoins 3 ethers and 2 moneros within four weeks that you did not purchase on an exchange or off-market swap.

    Coins that you mined. Is it free?

    Is it money for nothing? Do academic credentials mint pure profit?

    It is utter chaff, right? No serious men could be competing.

    A Milton Friedman license to print. A James Bond license to kill. A PT Barnum Bailey Bros license to thrill.

    Live Free & Mine LT

    Source date (UTC): 2018-05-28 10:33:00 UTC

  • Thats nonsense. 2008 ended that debate

    Thats nonsense. 2008 ended that debate.

    Source date (UTC): 2018-05-27 20:14:23 UTC

    Original post: https://twitter.com/i/web/status/1000832608232787969

    Reply addressees: @ThePakistaniRe1 @Voltaire1778__8

    Replying to: https://twitter.com/i/web/status/1000830866933903360

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    Original post: https://twitter.com/i/web/status/1000830866933903360

  • “SHOULD I STUDY (FOR A PHD IN ) AUSTRIAN ECONOMICS?”—- If you study to be an A

    —“SHOULD I STUDY (FOR A PHD IN ) AUSTRIAN ECONOMICS?”—-

    If you study to be an Austrian Economist at GMU you will be in demand. (Ask them, and they’ll tell you. Look at placement data.) Why? Austrian Econ (bottom up, micro, entrepreneurial, and political economy) is a rare specialization that is methodologically rigorous and extremely valuable to certain sectors, certain governments, certain political parties, and to the financial and investment sector in particular.

    If you just want to teach orthodox (Leftist) econ (top down macro and public choice) you are better off in the orthodox camp. If you want a balance, study at Chicago.

    I think we are within twenty years of catastrophic reorganization of the field, and that if you are young, and interested in Austrian Econ, your long term prospects are quite good.

    -cheers

    Source date (UTC): 2018-05-27 14:55:00 UTC

  • THE BASIC THEORIES OF ECONOMICS You should be at least casually aware of them. I

    THE BASIC THEORIES OF ECONOMICS

    You should be at least casually aware of them.

    I recommend just reading Investopedia from front to back (it’s what I did to make sure I could translate all the terms into propertarian language)

    -Schools of Thought-

    Classical

    Marxism

    Keynesian (positive)

    Neoclassical synthesis

    Austrian School

    -Economic Systems-

    Free market capitalism

    Market socialism

    Central planning

    Mercantilism

    Shock therapy

    Washington consensus

    -Economic Cycles-

    Keynesian (normative)

    Monetarism

    The Phillips curve

    Permanent income hypothesis

    Rational expectations

    Time consistency

    Financial accelerator

    Financial instability hypothesis

    Lender of last resort

    -Growth-

    Neoclassical growth

    New growth theory

    Creative destruction

    Human capital

    The rule of law

    Limits to growth

    -Global Trade-

    Comparative advantage

    Heckscher-Ohlin trade model

    New trade theory

    Optimal currency area

    The impossible trinity

    Purchasing power parity

    -Choice-

    Rational choice

    Game theory

    Public choice

    Expected utility theory

    Prospect theory

    -Tax & Spend Policies-

    Tax incidence

    Excess burden

    Supply-side economics

    Crowding out

    -Markets-

    The invisible hand

    Marginalism

    The tragedy of the commons

    Property rights

    Polluter pays principle

    Adverse selection

    Moral hazard

    Efficient market hypothesis

    Rent seeking

    -MORE Theories To Get You Started-

    Supply and Demand (Invisible Hand)

    Neo-Malthusian (Resource Scarcity)

    Solow Model (growth comes from capital, labor, and technology)

    New Growth Theory (Romer & endogenous growth)

    Institutions and Growth (rule of law, property rights, etc.)

    Efficient Markets Hypothesis

    Permanent Income / Life Cycle Hypothesis

    Something Behavioral (e.g., Prospect Theory)

    Adverse Selection and the Lemons Problem

    Moral Hazard

    Tragedy of the Commons

    Property Rights as a solution to the Tragedy of the Commons

    Game Theory (e.g., Prisoner’s Dilemma)

    Comparative Advantage

    New Trade Theory

    The Trilemma (exchange rates, capital flows, and monetary policy)

    -EVEN More Theories-

    Washington Consensus

    Financial Accelerator

    Theory of Independent Central Banks

    Bagehot Theory of Central Bank Lending

    Creative Destruction (Schumpeter)

    Ricardian Equivalence

    Dynamic Consistency

    Diversification and Investment Portfolio Design

    Capital Asset Pricing Model

    Option Valuation (Black-Scholes et al.)

    Austrian Economics

    Speculative Bubbles (e.g., Minsky)

    Liquidationist View of Downturns

    Time Value of Money (incredibly important but very old)

    Public Choice / Economic Theory of Regulation (politicians and government workers as self-interested maximizers)

    Arrow’s Impossibility Theorem

    Welfare Theorems

    Veblen and Conspicuous Consumption

    Polluter Pays Principle (e.g., Piouvian Taxes)

    Offsetting Behavior (e.g., people drive safe cars more aggressively)

    Heckscher-Ohlin Trade Theory

    Optimal currency areas

    Exchange Rates and Purchasing Power Parity

    Mercantilism

    Rubinomics

    Supply-side Economics

    Laffer Curve

    Phillips Curve

    Theories of Economic Geography

    Fisher Theory of Interest Rates

    Liquidity Traps

    Resource Curse (Dutch Disease)

    Exchange Rate Overshooting (Dornbusch)

    Auctions

    Mechanism Design

    Principal-Agent Theory (e.g., separation of management and ownership)

    Theory of Optimal Taxation (e.g., broad base, low rate, tax less-elastic activities)

    Source date (UTC): 2018-05-24 12:40:00 UTC

  • In other words the Cosmopolitan project has been a catastrophe, and Europeans no

    In other words the Cosmopolitan project has been a catastrophe, and Europeans no longer drink Krugman-Stiglitz-DeLong flavored Cool Aide. That century of pseudoscience is over. Finally. Now we have to end Postmodernism….

    Source date (UTC): 2018-05-23 01:46:13 UTC

    Original post: https://twitter.com/i/web/status/999104177912590336

    Reply addressees: @nytopinion @paulkrugman

    Replying to: https://twitter.com/i/web/status/998890257377583104

    IN REPLY TO:

    @nytopinion

    What went wrong with the “European project”? The euro, definitely, @PaulKrugman says. But the real undoing was the loss of prestige of a European elite committed to democratic values. https://t.co/0EySxwqOfE

    Original post: https://twitter.com/i/web/status/998890257377583104

  • NON ARGUMENT. Russia can INVENT technology but it must SELL it. They are too poo

    NON ARGUMENT. Russia can INVENT technology but it must SELL it. They are too poor to accumulate/use it. They have an economy equal to Texas and Italy. Putin restored Order.Then he restored Pride. Now he will restore the Economy. And he is still the most spectacular leader living.

    Source date (UTC): 2018-05-21 15:48:02 UTC

    Original post: https://twitter.com/i/web/status/998591255373320195

    Reply addressees: @ForeignPolicy @jensstoltenberg

    Replying to: https://twitter.com/i/web/status/998590501480747010

    IN REPLY TO:

    @ForeignPolicy

    “We don’t want a new Cold War. We don’t want a new arms race.”

    In an interview with Foreign Policy, @jensstoltenberg cautioned against a new arms race with Russia:

    https://t.co/R4p8nZVErB

    Original post: https://twitter.com/i/web/status/998590501480747010

  • RT @jeffreyatucker: Why Unhealthy Food Is Cheap and Plentiful via @aier

    RT @jeffreyatucker: Why Unhealthy Food Is Cheap and Plentiful https://www.aier.org/article/why-unhealthy-food-cheap-and-plentiful#.WwLWi9Kwze8.twitter via @aier

    Source date (UTC): 2018-05-21 14:25:34 UTC

    Original post: https://twitter.com/i/web/status/998570502443687938