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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
Verified account
@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    Noah Smith‏Verified account @Noahpinion Oct 17

    Clickbait, meet reality.pic.twitter.com/XbCPAclBZF

    6:33 PM - 17 Oct 2018
    • 209 Retweets
    • 738 Likes
    • marcus Concerned Floridian Owen Jannik Justin Bruhn Tomek Kołodziejczuk Ruben Trent Cortés Daniel Nicoletti Jennifer
    32 replies 209 retweets 738 likes
      1. New conversation
      2. RIP SCOTUS Hojoon  🌹‏ @HojoonH Oct 17
        Replying to @Noahpinion

        You have to separate the effect of the explosion in productive capacity due to industrialization and tech, which increased the value of people’s consumption (the measure of poverty used in the analyses), from the effect of the system for allocating the profits.

        1 reply 0 retweets 2 likes
      3. Noah Smith‏Verified account @Noahpinion Oct 17
        Replying to @HojoonH

        The thing is, those innovations mostly happened in the late 19th and early 20th centuries. It was only in the late 20th century that they began to work for the majority of the world's people.

        1 reply 0 retweets 2 likes
      4. RIP SCOTUS Hojoon  🌹‏ @HojoonH Oct 17
        Replying to @Noahpinion

        So capitalism didn’t reduce poverty until it did. Not a strong endorsement for causality.

        1 reply 0 retweets 1 like
      5. Noah Smith‏Verified account @Noahpinion Oct 17
        Replying to @HojoonH

        But it is. Until the 60s, most of the world was shackled by colonialism. After that, much of the world shackled itself via communism. First decolonization, then the end of communism freed countries to participate in the global (capitalist) economy, leading them to flourish.

        1 reply 1 retweet 4 likes
      6. RIP SCOTUS Hojoon  🌹‏ @HojoonH Oct 17
        Replying to @Noahpinion

        What’s the data in the Soviet Union then? They achieved very impressive growth thru industrialization before the collapse. Did value of consumption increase for most of the population during that time?

        1 reply 0 retweets 0 likes
      7. Noah Smith‏Verified account @Noahpinion Oct 17
        Replying to @HojoonH

        They first had total economic disaster with mass starvation, then got good growth for a little while, then flatlined in the 70s. All in all, a pretty damn poor performance, if you compare to, say, other European countries.

        2 replies 0 retweets 4 likes
      8. RIP SCOTUS Hojoon  🌹‏ @HojoonH Oct 17
        Replying to @Noahpinion

        But if growth itself is enough to reduce poverty, to any appreciable extent, then my point stands. You have to separate the effects of the two. My claim is a modest one: common ownership of the means of production isn’t inconsistent with lifting people out of poverty

        2 replies 0 retweets 0 likes
      9. Kyle Russell  🚀‏Verified account @kylebrussell Oct 18
        Replying to @HojoonH @Noahpinion

        Are you forgetting the mass starvation step

        0 replies 0 retweets 5 likes
      10. End of conversation
      1. New conversation
      2. Sharlene King‏ @GhostfactKillah Oct 17
        Replying to @Noahpinion

        Relative poverty really messes with everyone's persepctive.

        2 replies 0 retweets 8 likes
      3. Noah Smith‏Verified account @Noahpinion Oct 17
        Replying to @GhostfactKillah

        The need for clicks messes with everyone's perspective.

        3 replies 0 retweets 31 likes
      4. Sharlene King‏ @GhostfactKillah Oct 17
        Replying to @Noahpinion

        Clickbait wouldn't work without our cognitive biases. It's how I know Obama is going to help me save on auto insurance in IL with these 10 trricks.

        0 replies 0 retweets 9 likes
      5. End of conversation
      1. New conversation
      2. Rick Crawford‏ @RickCrawf Oct 17
        Replying to @Noahpinion

        The problem with such statements is the use of the vague term "capitalism". If they said "We need a mixed economy!" you would agree with them. If you look closely at some of the people advocating to "end capitalism", what they want is a mixed economy.

        1 reply 0 retweets 0 likes
      3. Noah Smith‏Verified account @Noahpinion Oct 17
        Replying to @RickCrawf

        Seems highly doubtful, more likely they don't know what kind of system they would like and are just kicking out against a world that has annoyed them.

        1 reply 0 retweets 3 likes
      4. Tweet unavailable
      5. Rick Crawford‏ @RickCrawf Oct 18
        Replying to @RickCrawf @Noahpinion

        I don't think her views are perfectly aligned with yours, but I think they are closer than you might think at first. I also don't think this is representative of all "end capitalism" talk. But the views get lumped together because of the vagueness of the term.

        0 replies 0 retweets 0 likes
      6. End of conversation
      1. New conversation
      2. Karl Stomberg‏ @KFosterStomberg Oct 17
        Replying to @Noahpinion

        It's a good thing they invented capitalism in 1970 to stop all that extreme poverty

        3 replies 0 retweets 17 likes
      3. Daniel Nazer‏Verified account @danielnazer Oct 17
        Replying to @KFosterStomberg @Noahpinion

        I assume by "they" you mean the Communist Party of China, and by "invented capitalism" you mean 改革開放.

        1 reply 1 retweet 14 likes
      4. 1 more reply
      1. New conversation
      2. Ramp Capital ♿️‏ @RampCapitalLLC Oct 17
        Replying to @Noahpinion

        Assuming it’s near zero with @realDonaldTrump at the helm

        2 replies 1 retweet 15 likes
      3. 1 more reply

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