This is just..weird. It's a weird take (from them I mean, not you). I get what they're trying to say, but it just feels like they're attempting to stay somewhat truthful economically while also pandering to the social justice crowd, and this is the weird result.
Funny how economists always say 'we're modeling how people maximize utility, not just income!' and then they're puzzled when people maximize utility rather than income.https://twitter.com/TheEconomist/status/1063724705591541760 …
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Why ‘penalty’ and not ‘trade-off?’
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Revealed Preference Theory - Utility is revealed by spending, so ignore U, focus on spending. Behavioral Econ looks at spending at psychological level, but mostly side-lined in Econ, and old-think in Psych. Eventually 'Ev Psych Econ'? May take another generation or two.
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convenience links for people other than GM of course RPT, https://en.wikipedia.org/wiki/Revealed_preference … .. BE (EvPsy sub) https://en.wikipedia.org/wiki/Behavioral_economics#Evolutionary_psychology … ..
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And the comments (how utterly unexpected) explode with scolding "male privilege", calls for equity, etc. The only article even "better" was the this one:https://www.nature.com/articles/d41586-018-07238-8?utm_source=twt_na&utm_medium=social&utm_campaign=NGMTnature …
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Ahhh "child investment" as in the same biological phenomena that makes women the sexual selectors... it seems women have always known they have an earnings penalty which is why resource seeking behaviour is high. I'm always shocked they never quite put it all together.
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“Not all” economists. Austrian economists do not think this way.
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"penalty", haha
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I wonder if I ever done seen't any utility in the wild I done seen't many types of money from fiat (latin for car) money to Canadian duck backed money to the new e-shrute bucks everyone rages about
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Does The Economist still employ actual economists?
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