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NickSzabo4's profile
Nick Szabo 🔑
Nick Szabo 🔑
Nick Szabo  🔑
@NickSzabo4

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Nick Szabo  🔑

@NickSzabo4

Blockchain, cryptocurrency, and smart contracts pioneer. (RT/Fav/Follow does not imply endorsement). Blog: http://unenumerated.blogspot.com 

Joined June 2014

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    1. Nick Szabo  🔑‏ @NickSzabo4 Aug 12
      • Report Tweet

      Nick Szabo  🔑 Retweeted Bloomberg

      Multi-causal (as usual) with three main causes: * More regulation --> more inflation, both due to direct costs of regulation and regulatory capture * More government subsidy --> more inflation * Global trade --> competition & productivity growth vs. locally constrained serviceshttps://twitter.com/business/status/1157757803139915780 …

      Nick Szabo  🔑 added,

      BloombergVerified account @business
      Economists are completely mystified by this chart. These things have become cheaper over time: 🥘 Food 👖 Clothing 🚗 Cars 🎧 Electronics While these things have soared in price: 💊 Health care 🍼 Child care 🎓 Education https://bloom.bg/31hn2GQ  via @bopinion pic.twitter.com/jfU6p56nez
      30 replies 195 retweets 608 likes
    2. Robert Kowal 💪#SilniRazem ✊‏ @kowalskr Aug 12
      • Report Tweet
      Replying to @NickSzabo4

      Biggest effect: Baumol’s cost disease Health care, child care, edu = local labor-intensive, hard to automate — wages in these sectors rise as other sectors get more productive, but productivity lags due to labor-intensity Costs rise; TFP rises less https://en.m.wikipedia.org/wiki/Baumol%27s_cost_disease …

      3 replies 0 retweets 5 likes
      Nick Szabo  🔑‏ @NickSzabo4 Aug 12
      • Report Tweet
      Replying to @kowalskr

      Education is easy to automate, official or branded certification is not.

      5:59 PM - 12 Aug 2019
      • 2 Retweets
      • 5 Likes
      • magnemg Flightcrew 🇺🇸 Robert Kowal💪#SilniRazem✊ Riding Unicorns to the Moon OrangeCoinMemes Santchi
      2 replies 2 retweets 5 likes
        1. New conversation
        1. Emanuele Cisbani‏ @emanuelecisbani Aug 13
          • Report Tweet
          Replying to @NickSzabo4 @kowalskr

          There is a very important part of education related to human relation. I cannot imagine the result of an automated education, lacking that aspect. In any case it could be not preferable.

          1 reply 0 retweets 2 likes
        2. Robert Kowal 💪#SilniRazem ✊‏ @kowalskr Aug 13
          • Report Tweet
          Replying to @emanuelecisbani @NickSzabo4

          I get it, but I strongly agree with @NickSzabo4 - I think it’s really nuanced which elements/ages of ed can be automated Again we see eg K-12 ed („factory style XIXth C. ed..) as benchmark when it’s an aberration MOOCs, web, info’s out there — so much ed can be automated

          1 reply 0 retweets 1 like
        3. Robert Kowal 💪#SilniRazem ✊‏ @kowalskr Aug 13
          • Report Tweet
          Replying to @kowalskr @emanuelecisbani @NickSzabo4

          But because it „can be” doesnt mean it has been Eg higher ed will get disrupted High school too Earlier ages I feel need more discipline & learning in a community setting Vocational also needs humans Either way: it’ll be more automated next 10-15 yrs

          0 replies 0 retweets 1 like
          4. End of conversation
        2. New conversation
        1. William‏ @WillMitchell7 Aug 12
          • Report Tweet
          Replying to @NickSzabo4 @kowalskr

          That’s contradicted by the evidence. “Education” should be examined in segments (K-12; College; Master’s). The more expensive the segment, the (exponentially) less automatable

          1 reply 0 retweets 0 likes
        2. Chandra Duggirala‏ @csentropy Aug 12
          • Report Tweet
          Replying to @WillMitchell7 @NickSzabo4 @kowalskr

          “Evidence” is the homeopathy of Econ. Cost of freer market healthcare services like plastic surgery and LASIK fell steadily. Same with non-credentialed education (See Coursera, Udacity etc) Claiming healthcare and education are immune to supply/demand is empirical astrology

          0 replies 0 retweets 0 likes
          3. End of conversation

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