ITT we laugh at economists

>>9058221
economists do know what they're talking about. the problem is that economics politicized and since half the country disagrees with the other half, the thing 95% of economists agree on, 50% of the population doesn't agree on

>>9058212
A ha ha ha ha this really made my low IQ brain spend some ATP, this is not a joke made for faggy poor retards at all!

>>9058212
>complain about people not believing in global warming although scientific consensus
>disagree with consensus economists have with huffpo article not understanding anything about it.

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>>9059134
>>9059140
>>9059202

>>9059206
Why don't """experts""" pay a reputational price for making such retarded dogshit predictions?

Jesus Christ.

>>9059213
That's just the predictive power of economics for you. The funny part is that this quote is pretty run-of-the-mill for economic forecasting.

>>9059202
There's actually physical and empirical evidence for the concept of global warming. The greenhouse effect has not been debunked

Say's """""""law"""""""", on the other hand....

>>9059206
>metcalfes law
>n choose 2 is O(n^2)
>1993
are economists really this brainlet?

>>9059260
Holy shit you're retarded.

n choose 2 is n(n - 1)/2

Which is proportional to n^2.

>>9059267
>what is O(n^2)

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What is wrong with this?

>>9059206
Krugman is a professional sophist paid to push the policies of the Democratic party, not an economist.

>>9059267
You seem to think you're contradicting the person you're replying to...

reminder that economists in the 80s thought soviet union was a prospering utopia

>>9059289
promotes unequality, needs tall guy quotas in the strawberry industry and short guy qoutas in the apple industry

>>9059332
Life isn't equal

>>9059302
I am. The economists and I are right and he is wrong.

>>9059289
You're telling people what they should do.

>>9059460
What if I offer to pay short people (and only short people, selected at my discretion) to work my strawberry fields and offer to pay tall people (and only tall people, selected at my discretion) to work my apple orchards, with employment being a voluntary agreement on the part of both the employee and employer?

>>9059520
That's fine. But it's never that clear-cut. Plenty of people will be on the borderline. And then there will be tall people who want to pick strawberries, or people with disabilities. You have to be flexible and provide reasonable accommodations.

>>9059545
> Plenty of people will be on the borderline.
Why shouldn't it be left at my discretion where, or if, they get assigned to work for me?
> And then there will be tall people who want to pick strawberries, or people with disabilities.
Good for them. They can find employment with someone who will let them decide where they work. I'm not forcing them to enter into employment with me. Should I be forced to employ them if their beliefs are incompatible with how I want to run my business?
>You have to be flexible and provide reasonable accommodations.
Then it's ceased to be a voluntary agreement on the part of both the employee and employer.

>>9059557
It's literally fine. There are a ton of other factors to consider, like how big your business is. Having a system "left at your discretion" often leads to other prejudices, not always intentional. Again that's fine, if it's minimal and you're small enough where nobody cares or notices. It happens all the time. Until it becomes problematic, which is also open to interpretation.

Why is economics, essentially "capitalist studies"?

What's wrong with exploring what lies beyond capitalism?

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>>9059289
Racist... you are suggesting blacks should pick cotton and white men should run the plantation... that life choices are made just because of intellectual and physical abilities!!

>>9059289
because countries are much more diverse than tall person short person. It also rejects the idea that a country could or should be self sustainable.

>>9059289
https://www.actionaid.org.uk/news-and-views/poor-countries-have-right-to-bar-trade-invaders
'Trade Invaders: the WTO and Developing Countries' Right to Protect' looks at the downside of free trade policies and economic liberalisation. ActionAid's case studies - from Brazil, the Gambia, India, Nigeria, Pakistan and South Africa - describe how, time after time, farmers have been ruined and factories closed down as cheap goods from abroad flooded in after trade barriers were lifted.
The removal of tariffs on textile imports has forced 20 factories in Nigeria to close with the loss of over 16,000 jobs. A further 18 factories are threatened with closure. Since 1998, almost two-thirds of jobs in the sector have been lost.
In the Gambia, cheap imports of chicken, eggs, milk and rice have flooded the market, depressing prices and putting many local producers out of business.
"Developing countries are facing an invasion. These stories are a warning of what might happen if rich countries get their way at the World Trade Organisation Hong Kong ministerial later this month," said Aftab Alam Khan, head of ActionAid's trade justice campaign.

>>9059289

so you be saying that we wuz kangs n shiet?

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>>9059582
>Why is economics, essentially "capitalist studies"?
>What's wrong with exploring what lies beyond capitalism?
They do, all the time actually. You didn't think research papers in economics consisted solely of paens to the free market, did you?

Pic related (http://davidcard.berkeley.edu/papers/njmin-aer.pdf) is one of the most famous and widely cited examples (and one of the most accessible papers to laymen, even econ undergrads who would never make it in STEM read it by their second year) of how economics researchers are, more than anyone else, aware of the failings and limitations of their "standard models", despite the elegant, pretty picture that undergraduate textbooks would have you believe.

>>9059289
The short guy dies because Mexicans immigrate and pick strawberries for slave wages. While the tall guy has a short career in basketball becoming the Larry Bird of his time.

>>9059134
No, they don't. Political ideology has transformed modern economic majors to studying neolobiberal/chicago school economic policy instead of economic history.

>>9059206
Everything Krugman says is wrong

>>9059699
funny enough krugman does very little economic commentary now and it is now almost exclusively political.

economics would be good if it wasn't just abused by corrupt politicians to create artificial and government enforced monopolies just because some lobbyist contributed to their reelection campaign.


Example: Epi-pen

Hahaha, economists.

>>9059762
>economics would be good
No, economics as a "science" is fundamentally flawed.

>>9059436
you missed the point entirely, brainlet

>>9058212
haha omg there was an economics at my school an one day he was like durrrr and pulled his pants down and we all laughed and laughed

>>9060447
this may sound like an insult, but I don't mean it like one.

are you retarded?

>>9059267
>I don't know what big O notation is

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hmm...

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>>9058212

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>>9059202
>people not believing in global warming
GW is not a matter of belief.
Turn off TBN and Lrn2science

>>9059258
Presence of the greenhouse effect does not imply the scale of global climate change that liberals purport

>>9060739
Explain

>>9060794
found the /pol/itard

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>>9060782
>>9060794
>>9060820
Keep it on topic. Less talk about global warming, more laughing at economists.

>>9059289
Assume a step ladder. Now the short guy has an advantage, because his body requires less energy.

>>9060748
What is this?

>>9060796
lmgtfy.com/?q=big+O+notation+mathematics

>>9058212
>EUREKA!!! My theorem works perfectly after I abstract that pesky human behavior away!
My biggest problem with economics is it follows a dogma of one particular kind of econmics and hardly no other econmic systems are analyzed, and never in its own turns. Worse still it is used as a political tool by politicians and "public relations" groups. It's heavily indoctornated and I could keep going.
IMHO economics should be eaten by Ecology, just like social science was. It's an anarchonisms and needs a heavy dose of rationalism and hard science

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>>9061672
IQ by field

>>9061988
>Bio
>top 10 and top 15
not bad at all

>>9059698
t. butthurt anti scientific marxist

>>9061988
>.45

>>9061988
>Hotness
Wtf is this?
>Religion is the hottest
I'm even more confused...

>>9059206
Is this real life bait? The fax machine was a huge change to the economy.

>>9059332
I am not sure that is what is meant by equality.
>>9059460
They are paid employees.
>>9059588
On the contrary, I am saying if a black man is better than a white man at running a plantation you should hire the black man.
>>9059631
>>9059677
This example illustrates something that occurs throughout the wider economy. There may be exceptions to the rule like the need for a country to be able to feed itself in the event it is cut off from global trade or maintain border controls, however without such a special case the standard should be to assign tasks to those who are best at them. I doubt the short guy would starve in reality, he would develop other skills and get another job.
>>9059632
You might not like the idea of people buying cheap imports, but that is their choice. They are better off doing so. Nigerians can spend less on clothing. Gambians can afford more protein in their diet. Maintaining tariffs denies them this increase in standards of living. Something must be done to help the 16000 workers while they are unemployed, help them retrain and find new jobs, however to be frank this is less than 0.1% of Nigeria's workforce and it is misguided to force people to preserve an industry that is no longer economically productive.
>>9059634
I do not recall saying that.
>>9061641
Takes time to climb up and down the step ladder.

>>9058212
There is a very interesting, largely forgotten booklet by Alfred Zauberman: "The mathematical revolution in Soviet economics". Soviet mathematicians, whose technical competence does not need to be highlighted, clashed with the problem that no model can determine the value of a product. You need a market for that. Value is in the eye of the beholder and shifts in perception severely impact economic realities. The problem still haunts economic modelling.

>>9059267
>n(n-1)/2 isn't O(n^2)
holy shit i bet you're one of those faggots who harps on CS majors too

>>9064492
The irony is worker owned businesses could buy and sell and trade in a market with each other like private businesses do, but the Soviets imposed a top down planned economy.

>>9061988

>r = 0.45

Top kek lad

>>9062189
>t. unironic nazi

>>9058212
>econ major
Piketty, Stiglitz, and Krugman have all agreed that the whole field of Math Econ is gibberish.

>>9065872
>nazi
>for calling out a marxist
lol
what's up with marxists and cognitive dissonance?

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>>9065922
Nazis like you don't realize that when you exaggerate and call everyone everyone to the left of you a communist, they can do the same thing back. Does that bother you, nazi scum?

>>9063163
I assume it's how often the topic gets brought up

how they made that number, who knows. probably google analytics, or maybe they just pulled it out their ass

>>9059260
This was exactly my thought

>>9066012
Yes, but you are a literal marxist while I'm nowhere near a nazi. Fucking retard.

>>9066132
Except I'm not, you goosestepping nazi.

Sounds like you need some war crimes trials and a firing squad to sort you out.

>>9064492

What the fuck are you on about.

Econometrics is a thing. You can forecast demand and put dollar estimations on all kinds of things. Thats how the EPA puts a dollar value on human life, and its how every company anticipates their logistical needs.

You couldnt power the whole economy on econometric analysis, but its very useful, and it does in fact predict market value.

>>9059206
Not surprising that he said this. He is a keynesian crank after all

>>9059213
because he appeals to leftist ideologues.

>>9059582
>Why is economics, essentially "capitalist studies"?
There exists several different economic schools of thought that promote different types of economic systems. Some come to the conclusion that a free market (pure capitalism) is best, others (i.e. the Keynesian school) imply that such is not the case.

>>9066499
Left ideologies such as open-mindedness. Please go cherrypick /pol/ definitions of a liberal/the left to prove me wrong

>>9063568

That image was made by asshurt bitcoin miners.

http://www.businessinsider.com/paul-krugman-responds-to-internet-quote-2013-12

>>9064492
>There is a very interesting, largely forgotten booklet by Alfred Zauberman: "The mathematical revolution in Soviet economics". Soviet mathematicians, whose technical competence does not need to be highlighted, clashed with the problem that no model can determine the value of a product. You need a market for that. Value is in the eye of the beholder and shifts in perception severely impact economic realities. The problem still haunts economic modelling.

Everything can be modeled as a mathematical equation. Everything is already modeled as a mathematical equation.

https://www.cass.city.ac.uk/study/masters/courses/mathematical-trading-and-finance

>>9059206
you can pull a valid point out of that at least, that there's no inherent reason to expect any network to assume a certain distribution

lots of people just eyeball a log-log plot and assume "it looks straight so it must be a power distribution" or dont even do that, just assume it out the gate with no evidence. it's bullshit

>>9066871
Except economists claim models they pulled out of their ass reflect reality without even trying to test them. Econ papers are garbage.

>>9059279
learn big O notation brainlet

everything past Smith is only offering a broader explanation

Why does economics suck? Is it just to chaotic of a system? Or is there a lack of intelligent people? I'm indecisive about my major. Idk if I should go where the smart people go or where the smart people are needed

>>9068458
Having same problem. Accounting vs economics and I always question if economics is actually sound in theory. However, if it is indeed just made up bull shit... fuck. That's what I need to know like does economics ever get it right. I feel like value can't ever be predicted because people vary so fucking much.

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>>9067869
>Except economists claim models they pulled out of their ass reflect reality without even trying to test them. Econ papers are garbage.

Only the Austrians.

>>9060739
>>9064507
What are you faggots talking about?
https://en.wikipedia.org/wiki/Big_O_notation#Example

(n^2-n)/2 is O(n^2)

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>>9058212
Just found this one.

>>9059258
Only quacks still believe says law. It is not a feature of mainstream economics anymore

There are still things we can be confident about in the field. The fundamental laws of supply and demand in the short run have been repeatedly tested and shown to be robust. Agents still show rational self interested behavior in the short run as well, in non cooperative games. Comparative advantage is still the greatest driving force to optimize global production through trade. Gains from trade differ based on whether capital is flowing outwards or inwards, so that's why the unread masses think free trade is bad.

The problem is that when it comes down to specifics, a macroeconomy is an incredibly entropic system, more so than many physical systems. If it were easy to truly understand, all the math and physics PhDs working on Wall Street would be able to make perfect bets on the stock market. Protip: they fucking can't. We are only just entering an age when we have the computational ability to help test theories for a field that is hundreds of years old. The fact that we have even gotten as far as we have in this field at this point in our species is a miracle.

>>9060782
global warming is about inane solutions that don't solve global warming but still funnel money to the "right people."

If a doctor told you you have cancer you wouldn't spend all your money going to a psychic to get it cured.

Economics does the same thing, we have real problems and economists come up with solutions that benefit their financial friends, and don't solve the problem..

>>9065477
And what again is the issue with a low r? There are plenty of examples in which the r value must be low because of what two things are associated.

Perhaps you'd know that if you took anything other than intro to statistical methods for biologists.

>>9059206
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