Mildly concerned about this happening in economics and this was my motivating example
but it's by no means limited
case study: poetry
a few capable avante garde poets abandon meter and rhyme, produce rebellious good work
soon: "what's a dactyl"
-- rupi kaur
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Replying to @eigenrobot
I keep thinking about how in economics all the studies are like "we did a regression on something we can solve with basic laws and found a discrepancy and this definitely doesn't mean we're morons who are bad at statistics no sir, definitely it's the theory that's wrong"
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Replying to @sgodofsk @eigenrobot
i mean i think it is fair to say that labor econ in particular behaves very differently than the theory-- any theory-- would suggest and that it is largely unsolved if approached from principles, which means you need to approach from empirics and rethink the principles
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Replying to @PropterMalone @eigenrobot
that's my specific bone of contention: labor econ is extremely well described by the theory and a bunch of axe grinders try all sorts of statistical techniques to pretend that isn't true. See all minwage studies.
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Replying to @sgodofsk @eigenrobot
minimum wage shoiuld be zero, this is obvious from the basic theory of supply and demand, and if you get a different result it's because you fucked up.
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Replying to @sgodofsk @eigenrobot
except: this turns out to not be how labor markets behave. at all.
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Replying to @PropterMalone @eigenrobot
lol if you say so labor econ is overrun with people who aren't happy with reality, because it doesn't conform to their political predilections, and try to invent their own in so doing they come up with flimsy stats to contradict the best attested theory in the social sciences
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Replying to @sgodofsk @eigenrobot
Lol I do say so And so does the state of the art But hey, you should believe exactly what you want to believe. Just don't expect it to have as much predictive value as you might prefer a rigorous discipline to have- that's the price you pay for ideology
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Replying to @PropterMalone @sgodofsk
I mean what do you think is weird about labor markets in particular that leads to them not confirming to the usual rules
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Replying to @eigenrobot @sgodofsk
1) nominal wages are *hella* sticky 2) it's not at all a transparent market 3) marginal cost to firm to hire an employee is very much not the same as wage 4) often, monopsony power and sometimes actual cartels on either side 5) v high transaction costs for both sides
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seems like a set of problems to be handled by reducing frictions and increasing competition and information availability :D
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Replying to @eigenrobot @sgodofsk
And these are generally good things to do!
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