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eigenrobot's profile
masquerobot
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@eigenrobot

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masquerobot

@eigenrobot

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Joined July 2013

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    1. masquerobot‏ @eigenrobot Feb 16

      Unsure whether you will feel better with the story "there's no conspiracy to screw youth, this is just the result of shifts in impersonal economic parameters only incidentally correlated to age cohorts" But that's probably closer to an accurate description of the world here :/

      3 replies 0 retweets 0 likes
    2. Frank‏ @franklinD111 Feb 16
      Replying to @eigenrobot @salonium

      Not really, we have/had the ability to adapt to those economic parameters through policy. But blaming a generation for certain ideological shifts that have taken place among our political institutions & intelligentsia over the past few decades is counterproductive

      1 reply 0 retweets 0 likes
    3. masquerobot‏ @eigenrobot Feb 16
      Replying to @franklinD111 @salonium

      im a professional economist ama about the limits of policy :/

      1 reply 0 retweets 0 likes
    4. Frank‏ @franklinD111 Feb 16
      Replying to @eigenrobot @salonium

      Ah, my apologies. Basically I’ve always believed that 1) the financial crisis could have been averted had we not deregulated the OTC derivative market in 2000 and 2) funding higher education to keep pace with the boom in demand since the late 60s would have kept at least some 1/

      1 reply 0 retweets 1 like
    5. Frank‏ @franklinD111 Feb 16
      Replying to @franklinD111 @eigenrobot @salonium

      downward pressure on income inequality. Are these assumptions off-base? 2/

      1 reply 0 retweets 1 like
    6. Frank‏ @franklinD111 Feb 16

      Every millennial who I’ve seen complain about Boomers has always mentioned how they “crashed the economy” and left behind a dried up job market for us

      2 replies 0 retweets 1 like
    7. Frank‏ @franklinD111 Feb 16
      Replying to @franklinD111 @eigenrobot

      (This is just from my experience tho, so I could just be baselessly extrapolating lol)

      1 reply 0 retweets 1 like
      masquerobot‏ @eigenrobot Feb 16
      Replying to @franklinD111

      Hey--sorry for slow response, had to step away. Will answer in as soon as stationary. Deserves better than a shitpost :)

      8:30 PM - 16 Feb 2018
      • 1 Like
      • Frank
      1 reply 0 retweets 1 like
        1. New conversation
        2. masquerobot‏ @eigenrobot Feb 20
          Replying to @eigenrobot @franklinD111

          Ok I forgot then I got super busy, in cycles! But here I am with insomnia. (i) It's really hard to get into counterfactuals like this. Possibly the financial crisis, in its precise form, would have been averted or attenuated. On the other hand, to the extent that . . .

          1 reply 0 retweets 1 like
        3. masquerobot‏ @eigenrobot Feb 20
          Replying to @eigenrobot @franklinD111

          . . . the recession was a result of incorrect beliefs about the housing market, derivatives may not have made much of a difference. I could tell stories in either direction, and as far as I know the postmortem hasn't really settled on any of them. This is a common problem . . .

          1 reply 0 retweets 1 like
        4. masquerobot‏ @eigenrobot Feb 20
          Replying to @eigenrobot @franklinD111

          in macroeconomics, where we spent 1/6 of my 1st year PhD sequence picking at the Great Depression (where, surprise, there was no consensus). Another case study in macro-agnosticism: we don't have a clean theory of why the *Industrial Revolution* to happen where and when it did.

          1 reply 0 retweets 2 likes
        5. masquerobot‏ @eigenrobot Feb 20
          Replying to @eigenrobot @franklinD111

          Major and genuinely-macroeconomic events tend to be (i) idiosyncratic, (ii) unexpected, and (iii) plausibly influenced by a large number of exogenous factors. This makes it basically impossible to build a robust theory to consistently predict policy counterfactuals. :/

          1 reply 0 retweets 1 like
        6. masquerobot‏ @eigenrobot Feb 20
          Replying to @eigenrobot @franklinD111

          (ii) Education! Education is a fucking mess. It's likely that all else equal, the price of education for undergraduate students has increased wealth inequality in the United States. But it's not obvious to me that better funding from the state would have fixed this. :c

          1 reply 0 retweets 1 like
        7. masquerobot‏ @eigenrobot Feb 20
          Replying to @eigenrobot @franklinD111

          You can view direct and indirect support for student tuition as subsidies to students; but the thing about subsidies is that they're never completely "captured" by the immediate recipient. In the case of education, schools can respond to students having more money . . .

          1 reply 0 retweets 1 like
        8. masquerobot‏ @eigenrobot Feb 20
          Replying to @eigenrobot @franklinD111

          by increasing tuition, and getting a slice of the pie for themselves. Direct funding by the state for schools doesn't solve this problem either. Organizations have an infinite capacity for burning money, and when you shovel more into them without some mechanism . . .

          1 reply 0 retweets 1 like
        9. masquerobot‏ @eigenrobot Feb 21
          Replying to @eigenrobot @franklinD111

          to control costs, there's no reason to expect to get much for your investment. A second issue is that school, as a tool for increasing productivity (and so expected wages), may be more useless than not. You can get one side from @bryan_caplan's _The Case Against Education_, or

          1 reply 0 retweets 1 like
        10. masquerobot‏ @eigenrobot Feb 21
          Replying to @eigenrobot @franklinD111 @bryan_caplan

          check out @nickchk's feed for a more optimistic take. (Nick, grats on the handle change!) There are other issues floating around with schools--say, student preferences for job status and amenities vs simple wages (why not just be a plumber? pay's great!)--to the point that . . .

          1 reply 0 retweets 2 likes
        11. masquerobot‏ @eigenrobot Feb 21
          Replying to @eigenrobot @franklinD111

          in aggregate I'd argue you should deep uncertainty about the relationship between schools and societal income, or at least about the likelihood that a simple policy change like "feed more money into tuition support" affecting millennial job prospects much. :(

          1 reply 0 retweets 1 like
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