The kind of economic views that get heavily upvoted on Reddit really terrify me, because I view it as an indication of the future as our generations age. They don't even seem like economic views, but rather moral values wearing the clothes of economic opinions.
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People maybe took high school economics class and now they fix the economy It is like you know how to change a tire so you think you can rebuild a engine.
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"actually [incredibly complex thing] can be fixed simply by doing x, y, etc." is a great heuristic to see if someone knows what they're talking about. Applies to economics, healthcare, foreign policy, and basically everything else.
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Agree with that the system is complicated, and that interventions have been, on balance, harmful. But I reject that it is "delicate". It is extremely resilient and has routed around damage very effectively. If it wasn't it would have collapsed under our nonsense long ago.
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Fair, tho tbf i don't know what the control is. It's possible that our economy would be so great we'd be colonizing other planets by this point and had eradicated all disease and poverty but it's so 'delicate' that our fuckups have kept us bumping around at this level.
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The complexity of the system is no hindrance to the rich and powerful bending it to their benefit. Tax policy, credit and banking, wage and benefit laws, workplace safety, voting rights, etc all manipulated to benefit wealthy and increase their share.
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I agree that a lot of money has gone into changing the law to make it easier for the people with money. I ultimately place the responsibility on the law system for being weak to influence like that, while I *expect* the money to try to grow itself.
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That metaphor is doing a lot of work. Are you sure it isn’t like modern medicine? Which has its issues but in general does a better-than-lassez-faire job of fixing the things that go wrong in our delicate and mindblowingly complex bodies.
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Modern medicine works much better when people trust experts and not just their own judgement. So does economic policy.
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Specifically?
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