What would you say is "very wrong" in our society, so I can research about it in the upcoming year ^_^
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Eliezer wrote https://equilibriabook.com/ as a partial answer to that question (though more as an answer to "why aren't these things being fixed sooner"). Enjoy!
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They should start by acknowledging that capitalism and free markets have been the greatest wealth creators in human history, lifted billions out of abject poverty, and allow today’s working class to enjoy luxuries previously unavailable even to the very wealthiest.
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Let’s say that they trust you, believe you, and say those words out loud. That doesn’t solve any of their problems. It doesn’t even help them understand what’s going wrong.
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Empathetically, I'm pretty sure.
End of conversation
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18% of social sciences professors self identify as Marxist. I wish Inadequate Equilibria had as much reach as those sets of ideas did. People will jump to narratives promising a solution they can understand. The problem (and system it's embedded in) isn't simple enough for this.
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Citation needed.
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It's not just a matter of nomenclature, this goes hand in hand with support for really bad policies for really bad reasons. I also question the "knowing something is very wrong" part. It's driven, for the most part, by the same feeling that pushes back against Uber surcharges.
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"Common folks know important truths but since they don't express them well within the confines of the formalism accepted by academic experts living in ivory towers they are wrongly derided and their heuristic wisdom is ignored" is a nice meme but, when it comes to economic...
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