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junioreconomist's feed

  • 3 years ago
    Comment junioreconomist

    I just started my career in Health Econ. I start working in drug pricing next month. I'll get back to you when I have the answers.

  • 3 years ago
    Comment junioreconomist

    Voat was good in the beginning, but people started migrating there for the wrong reasons. Now, it seems like a haven for the most immature ex-redditors.

  • 3 years ago
    Comment junioreconomist

    Known himself to argue from his assumptions rather than from knowledge, for instance theorizing that women are not discriminated against in the workplace so much as they are busy with children and housework

    What do you define as knowledge? The wealth disparity study was the result of years of statistical research and scientific method. His findings from said study are what you are discussing. He clearly states them as conclusions here.

    edit* He discusses his motivations for his slow transition to his present beliefs, here. I'm not sure it's right to say that someone who has dedicated his entire life to the study economics has acquired no new knowledge or understanding on one of the most widespread economic systems.

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  • 3 years ago
    Comment junioreconomist

    ...go on...

  • 3 years ago
    Achievement junioreconomist

    Red Eye Jedi

    Viewed 50/50 snaps! Congratulations junioreconomist on this achievement!

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  • 3 years ago
    Comment junioreconomist

    Hey, thanks for being honest. Looks like I've got some research to do.

    To help you out a little, think of economics as the answer to the question "how much of each resource should be allocated to each of its many uses?" Doing so in the most efficient manner is what economics is all about. Different types of economic systems are basically different ways of making decisions about the allocation of scarce resources, and each of these decisions has an impact on the whole society. Again, I'm paraphrasing Thomas Sowell since he's much smarter than I am.

  • 3 years ago
    Comment junioreconomist

    I would, if I may, ask a question of you that I should probably research on my own, but as you have a firm understanding, and I prefer to learn from interaction, I think this is the best course.

    A definition for economics that we most often use comes from Lionel Robbins--"Economics is the study of the use of scarce resources which have alternative uses." Keeping this in mind, and that "scarce" means that what everybody wants adds up to more than there is (as Thomas Sowell put it), how does Socialism solve the problem of scarcity?

  • 3 years ago
    Comment junioreconomist

    I can dig it

  • 3 years ago
    Video/Audio junioreconomist

    I think we're raising whole generations who regard facts as more or less optional

    "They're being taught that it's important to have views, and they're not being taught that it's important to know what you're talking about. It's important to hear the opposite viewpoint, and more important to learn how to distinguish why viewpoint A and viewpoint B are different, and which one has the most evidence or logic behind it. They disregard that. They hear something, they hear some rhetoric, and they run with it."

  • 3 years ago
    Comment junioreconomist

    Oh, of course things should be better, and I think we're getting there slowly. Even Marx said that we can't skip the cycle or we'll be swept to the banks.

    Right now, government is too inefficient, in my opinion, to be trusted with the livelihoods of citizens dependent on the economy. To me, the solution for citizens who can't be trusted to make sound, economic choices is not to have a committee of citizens make those choices for everyone else. For example, look at the superfluous spending on defense (in the US at least). Couldn't that money be better used for infrastructure, healthcare, or even better, to be placed back into the pockets of our people?

    Sure, there are ways to better spend our dollars, but because of politics, agency costs, and interest groups, government spending will eventually return to an archaic spending method that does not best meet the needs of the people.

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  • 3 years ago
    Comment junioreconomist

    Doritos and brownies

  • 3 years ago
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    Level 8

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  • 3 years ago
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  • 3 years ago
    Comment junioreconomist

    I think he's being a bit too reductive here, as well. Although, in a perfect society, there would be no poor countries, right now this is the only form of decent employment they can get. There are a few good analyses on both child labor and sweat shops in lesser developed countries. It sounds bad from our POV, but it's better than the alternative--which is starvation--for them. Let me know if you'd like me to link some sources. It's a pretty cool, yet sad, discussion.

  • 3 years ago
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  • 3 years ago
    Comment junioreconomist

    Infinity Gauntlet

  • 3 years ago
    Achievement junioreconomist

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    Maintained a 3 day login streak 5/5 times! Congratulations junioreconomist on this achievement!

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  • 3 years ago
    Video/Audio junioreconomist

    Thomas Sowell - Wealth Disparity

  • 3 years ago
    Analysis junioreconomist

    Burden of Hospitalizations Primarily Due to Uncontrolled Diabetes

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  • 3 years ago
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  • 3 years ago
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  • 3 years ago
    Analysis junioreconomist

    The Nirvana Fallacy

    I recall hearing when I first came to the University of Chicago in 1969 the expression “Nirvana Fallacy,” used to describe the belief then dominant in the economics profession that market failures could and should be rectified by government intervention, assumed to be apolitical and effectively costless. The belief was unsound; government failure is commonplace, partly because of politics, partly because of the intrinsic difficulty of many of the tasks that are given to government to perform.

  • 3 years ago
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  • 3 years ago
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    Level 6

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