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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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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Replying to @eigenrobot @skore_de and
but for the most part the issue is that prices in cities are much higher than they need to be because zoning prevents more and denser stuff from being built and rent control exacerbates this to fix, abolish zoning and price controls and sit back
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