tag:blogger.com,1999:blog-7905515.post3350847582347159038..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: A Theory of GrowthEric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger20125tag:blogger.com,1999:blog-7905515.post-55276545492243531062011-01-07T19:45:22.338-06:002011-01-07T19:45:22.338-06:00I meant in absolute terms: abject poverty.
I agr...I meant in absolute terms: abject poverty. <br /><br />I agree that there are better ways to aid the poor, including ones where aid is contingent on constructive behaviors on their part. But what I was thinking of above wasn't so much aid to the poor, as policies designed to prevent more people from becoming poor in the first place.Davehttp://steamcatapult.com/noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-3837702423049786522011-01-07T08:48:54.399-06:002011-01-07T08:48:54.399-06:00"laissez faire would leave a lot of Americans..."laissez faire would leave a lot of Americans behind"...I don't know what you mean by that. Relatively, or in absolute terms? I don't think it's true in absolute terms. Further, one could provide poor relief much differently, so that people 1) don't starve or suffer when poor and 2) they don't see this as a free lunch. That is, if you want free room and board, you have to live in a poor house, which has work rules and drug tests. No-strings-attached charity is no good for the recipient, as much as they might prefer it.Eric Falkensteinhttps://www.blogger.com/profile/07243687157322033496noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-73530105815875435632011-01-06T19:11:53.134-06:002011-01-06T19:11:53.134-06:00Eric,
Much easier on the eyes now, thanks.
As to...Eric,<br /><br />Much easier on the eyes now, thanks.<br /><br />As to the substance of your post, a lot of wealth creation today seems to come from labor arbitrage -- outsourcing production to cheaper countries, or bringing in immigrants from poor countries willing to work here for less. That doesn't create net jobs here, and that's a political as well as an economic problem for this country. <br /><br />More broadly, laissez faire would leave a lot of Americans behind. That's not necessarily an argument in support of the government's current policies, but it is an argument against the government doing nothing but the bare libertarian minimum (police power, enforcing contracts, etc.). <br /><br />In a way, we seem to have the worst of both worlds today. Our government leans toward laissez faire when it comes to labor arbitrage, which lowers wages and increases unemployment for American workers. And our government leans toward activism/statism when it attempts to compensate for lower wages by subsidizing home ownership, education, and health care, subsidies which apparently raise the cost of all three.Davehttp://steamcatapult.com/noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-5719915425776949052011-01-06T17:33:54.105-06:002011-01-06T17:33:54.105-06:00Eric... THANKS, much easier to read!Eric... THANKS, much easier to read!Michael Meyershttps://www.blogger.com/profile/16897177627300304126noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-42399086397695806482011-01-06T13:48:15.645-06:002011-01-06T13:48:15.645-06:00This was a brilliant mini-essay! It seems to obvi...This was a brilliant mini-essay! It seems to obvious that government control of the economy isn't the way to wealth creation. The fact that everyone doesn't (or refuses to) understand it is a testament to the minor role that rationality plays in human choices.<br /><br />Re the new format: the softened white characters appear kind of muddy against the black bg.jmm5491https://www.blogger.com/profile/06072323603513941721noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-53394037704561550582011-01-06T12:55:07.603-06:002011-01-06T12:55:07.603-06:00Great post!
I'll read it no matter what, but ...Great post!<br /><br />I'll read it no matter what, but this is harder on my eyes also.Anonymoushttps://www.blogger.com/profile/05431036725490947171noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-184425346418671292011-01-06T12:13:55.698-06:002011-01-06T12:13:55.698-06:00Eric.... maybe your eyes are better than mine, but...Eric.... maybe your eyes are better than mine, but this new format is VERY HARD to read... I love you blog, but don't make me struggle so hard to read it.Michael Meyershttps://www.blogger.com/profile/16897177627300304126noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-81761517153039153112011-01-06T11:42:23.872-06:002011-01-06T11:42:23.872-06:00Re ugly font:
It may improve absorption and retent...Re ugly font:<br />It may improve absorption and retention. http://www.wired.com/wiredscience/2011/01/the-benefit-of-ugly-fonts/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wired%2Findex+(Wired%3A+Index+3+(Top+Stories+2))#Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-64086552132808093762011-01-06T11:00:47.221-06:002011-01-06T11:00:47.221-06:00<< I'm rather unsure if I need to change...<< I'm rather unsure if I need to change to the standard positive contrast>><br /><br />Hmmm...how about you apply some of your advanced economics training to the problem: do you reckon the inverse type attracts or annoy the marginal reader? If it's the latter--a recurring theme of your blog-- stick with inverse type.AnonJrnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-55094454365234199092011-01-06T10:55:29.362-06:002011-01-06T10:55:29.362-06:00Eric, you may be interested in this paper, which a...Eric, you may be interested in this paper, which aligns with your mimicry theory.<br /><br />Epidemics of Rules, Information Aggregation Failure and Market Crashes <br />http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1624803Brian Petersnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-79427239580365863262011-01-06T10:31:36.153-06:002011-01-06T10:31:36.153-06:00hmm. It works for me, but I am mildly dsylexic(!)...hmm. It works for me, but I am mildly dsylexic(!) as you note, so perhaps I'm not the best judge. the problem is people not bothered by it tend not to comment, so I'm rather unsure if I need to change to the standard positive contrast.Eric Falkensteinhttps://www.blogger.com/profile/07243687157322033496noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-52203282918574664902011-01-06T10:05:48.451-06:002011-01-06T10:05:48.451-06:00The old type was bad, this one is worse. Why put ...The old type was bad, this one is worse. Why put your readers through the pain. We already have to cope with your mild dyslexia, surely that's enough.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-48604457722619748802011-01-06T09:18:48.601-06:002011-01-06T09:18:48.601-06:00I've read all the Austrian business cycle lite...I've read all the Austrian business cycle literature, and I don't think the key is the short term rate because if so excess investment would be a function of roundaboutness, but instead it just is focused in different industries independent of their capital/labor ratios. Surely, this screws things up, just like proping up housing prices (FHA now does 90+% of mortgages <$300k) in this recession is screwing things up.Eric Falkensteinhttps://www.blogger.com/profile/07243687157322033496noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-53691435416395556972011-01-06T09:14:24.262-06:002011-01-06T09:14:24.262-06:00So how can this system work properly when two of t...So how can this system work properly when two of the most important price signals in the world - US short-term rates and CNY-USD - are set by beurocrats?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-89778766030894178842011-01-06T08:59:15.704-06:002011-01-06T08:59:15.704-06:00Well, what about the Soviet Union, China, Vietnam,...Well, what about the Soviet Union, China, Vietnam, or other previous totalitarian states. Eventually the central group cedes control, because they know they don't really have it anyway. <br /><br />I agree we seem to vacillate, and have not reached an equilibrium. As people are regrettably much more egalitarian than libertarians would like, I'm not sure there will ever be a stable equilibrium.Eric Falkensteinhttps://www.blogger.com/profile/07243687157322033496noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-15850013713325876152011-01-06T08:51:40.175-06:002011-01-06T08:51:40.175-06:00I think it reads much better than the old one. For...I think it reads much better than the old one. For those that want to read these pages really well, try: using Readability, available as firefox and chrome addon, or standalone at http://lab.arc90.com/experiments/readability/<br /><br />Back to the post itself, I think you have point in that government should focus on its essentials. However, even if everyone in the government is taking that stance, it still isn't really an equilibrium situation I think. <br /><br />You start with a government that wants to do at least the army/police parts, and taxes and laws and so forth. You inevitably end up with a continuously growing government, it's just the rate that is variable. I would love to hear your take on this.Ericnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-54387993361490225722011-01-06T05:24:00.712-06:002011-01-06T05:24:00.712-06:00It was negative before! I soften the white text a...It was negative before! I soften the white text a bit.Eric Falkensteinhttps://www.blogger.com/profile/07243687157322033496noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-38613843361912194692011-01-06T04:34:58.421-06:002011-01-06T04:34:58.421-06:00I'm with anon and Dave... the white on black i...I'm with anon and Dave... the white on black is harsh.dmfdmfnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-67980931678113051382011-01-06T04:19:24.398-06:002011-01-06T04:19:24.398-06:00This new format is hard on the eyes, Eric. I'm...This new format is hard on the eyes, Eric. I'm not against change, but you can find much more attractive and readable themes out there than this.Davehttp://steamcatapult.com/noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-30563779945352272252011-01-06T03:54:52.303-06:002011-01-06T03:54:52.303-06:00Why did you start using the most user unfriendly f...Why did you start using the most user unfriendly format? Negative type is terrible.Anonymousnoreply@blogger.com