If only one could know what lagrange multipliers meant rip
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Replying to @GuilleAngeris @eigenrobot and
My problem is - I occasionally read some of these guys on my TL and it seems like a lot of them are pretending to be a true psychohistorian and yet meander around at most at mere standard wealth. But maybe Hari Seldonhood is simply impossible? But then… why do economics?
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Replying to @skore_de @GuilleAngeris and
Could economic theory be replaced with "Economic History of shit that we know went Real Bad so let's at least not do that again"?
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Replying to @skore_de @GuilleAngeris and
we keep trying to suggest this to people but theres a reason the bad things keep happening over and over in incredibly predictable ways
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Replying to @Duderichy @eigenrobot and
I don't understand this tweet but I will "like" it if Eigen likes it, just to make sure I copy the Right ingroup behavior.
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Replying to @skore_de @Duderichy and
Voters keep asking for prices & rents control despite the economics behind it both being - very bad - extremely predictable The track record on this matter is long, the subject has been studied thoroughly and the answer is "It doesn't work - period". But people keep asking for it
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That's one exemple "shit that we know went Real Bad so let's at least not do that again" but people just don't learn
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Replying to @pjsempe @Duderichy and
Huh. The problem I'm having with this is - if you look at the nonsense that has been happening around rents (being 50+% of income etc.) is: What better option does "Economics" have?
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I'm afraid it's something on the same level as "well people can just move somewhere completely different, it's the market at work!" but I just don't see how that works in the real world where you'd have to also move your extended family or it's a huge loss on your part.
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the basic issue in places w high rents tends to be a "lack" of supply combined with high demand. part this supply issue is natural (eg only so much land) but frequently it is artificial and the result of bad-to-insane policies restricting the supply by preventing dense building
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Replying to @eigenrobot @skore_de and
rent control makes this worse in the long run by lowering potential profits of developers who might otherwise build more housing, causing them to build less
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Replying to @eigenrobot @skore_de and
ofc theres only so much you can really feasibly build in a city at s given level of construction technology so even if people live Manhattan your not gonna get housing for a billion people there and there will be bidding wars by consumers driving prices higher than elsewhere
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