most people (even smart ones) dont believe basic microecon and there’s nothing you can do about that
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and this is not about minimum wage or something where there are confusing equilibrium effects. I mean they either can’t or won’t have any intuition for market clearing or supply/demand
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simplest example: many or most college educated are blackpilled on personal consumption decisions having any impact at all (eating less meat or using less electricity) but then will happily turn around and insist that you go and vote in your D+40 state
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Replying to @tszzl
microecon is subsumed by psychology, game theory, systems dynamics, and just the basic chaos of life. look at those damn cryptopunks. humans are more tribal animals, less maximizing functions
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Replying to @DanielleFong
Wuttt imagine thinking microecon doesn’t factor into meme or art markets !
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Replying to @tszzl @DanielleFong
the supply and demand functions are of course there even if theyre not “efficient capital markets”
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Replying to @tszzl
yeah. i’m just saying there are really important subtleties, like supply chains bumping into each other on high demand, that make it hard to separate things out like how they get entangled in reality
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Replying to @DanielleFong
yet deeper into microecon fray short run inelastic goods and whatnot not to mention container ship markets or whatever
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im just realizing now that i read your tweet different from how you meant it. you mean, basic econ, most smart people don’t believe it. i’ve been basically going: look, here is advanced microecon, it’s important elaborations, i think the thing now owes more to other disciplines
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Replying to @DanielleFong @tszzl
you’ve been going, lol, that’s still micro econ.
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