One of very best writeups you've done here, Justin -- clear, concise, and correct. You would get an A in my class (just as Greer would get an F, and a suggestion that he come to office hours regularly).
I've turned on my neice and nephew onto your hipster-geekout programs.
Neice is a free spirit discovered her lesbian roots after having two children the old fashion way.
She's a museum administrator in the day time and stand up comedian in the dark.
Speaking of her priorties, Nephew is an Expat international man of mystery sending us pictures from many exotic locations while "working" for a Scottish energy company.
Love this one, Justin. Very well explained. As a health care provider, I have to say I too get frustrated with lawyers deciding how to run our healthcare. I wouldn't try to tell a lawyer how to present a client's case in court. As the saying goes, "Stay in your lane."
I have now received adequate training to become a Platypal lobbyist on behalf of the over burdened consumer struggling with the costs of tarrifs and protectionism. (Albeit unpaid.)
Dear Dr. Wolfers. Thank you for your insightful contribution. I heartily endorse your comment that we need to create ways to make a bigger pie. Quite difficult to grow the pie when one group holds all the ingredients. With that being the case, the pie does not need to improve its quality, become more innovative, or is driven by producers who can make a better pie at a lower cost.
We as inhabitants of the planet are faced with four immediate challenges, all related and proposed in no particular order.
1. We have the capability to destroy the planet through the proliferation of nuclear weapons.
2. The planet is on fire brought by the catastrophe of global warming.
3. Wealth and other resources are controlled by a shrinking minority.
4. Nonregulated social media, communications, and artificial intelligence are being used in ways to perpetuate untruths.
Providing a pie that is cut into smaller slices that can be distributed to all may be a logical first step to reach some sort of livable structure.
Thanks Justin, excellent lesson. My first lesson about consumers took place on The Rocks, trading USD for Tooheys. At the end of the night, there was definately a deficit, but a pleasant one that lingered for several days.
Once again...common sense and logic applied to trade policy. "Protection for the producer" does not translate into gain for the consumer. It will go the way of the good ol' "trickle down".
“Consumers don’t have advocates marching on Washington demanding someone pay attention to them.” Um, aren’t our advocates supposed to be the members of congress???
Fabulous!!! Yes, trade is hard, economics in general is hard for some people (like me). People who don't understand are at risk of being fooled by people who do understand and who lie by saying things that are true but misleading. Yes, Greer talks as if manufacturing were the moral center of the universe. And who off-shored all those manufacturing jobs, who broke all those unions, who now talks about bringing in robots and AI to replace the few remaining workers? And as you point out, some of those jobs are not so desirable. So manufacturing is the moral center of the universe when Greer wants to use it to push a policy, but reality is somewhat different. Same for small business in the aggregate. According to the Better Business Bureau, small business is the engine of our economy, the thing that creates the majority of new jobs. It's also the thing that destroys the majority of new jobs, because small businesses fail more often than large businesses. But politicians pull out small business when it's convenient and push the sector into the background as soon as the press conference ends. Low-wage entry-level jobs are another frequently praised sector, although the low wage isn't mentioned when they are being touted as the initial steps on the ladder for teens and moms who want part-time work. After the entry-level job that doesn't pay a living wage turns out to be the only job a teen/woman/minority/disabled person can get, it doesn't look like such a valuable stepping stone to success, but rich businessmen still talk about how they benefit society by "giving" a job to someone who needs to learn how to work hard. End of rant. Your post is marvelous!
One of very best writeups you've done here, Justin -- clear, concise, and correct. You would get an A in my class (just as Greer would get an F, and a suggestion that he come to office hours regularly).
Dr. J.
I've turned on my neice and nephew onto your hipster-geekout programs.
Neice is a free spirit discovered her lesbian roots after having two children the old fashion way.
She's a museum administrator in the day time and stand up comedian in the dark.
Speaking of her priorties, Nephew is an Expat international man of mystery sending us pictures from many exotic locations while "working" for a Scottish energy company.
(I think he's a "double-aught" a la James Bond.)
Love this one, Justin. Very well explained. As a health care provider, I have to say I too get frustrated with lawyers deciding how to run our healthcare. I wouldn't try to tell a lawyer how to present a client's case in court. As the saying goes, "Stay in your lane."
I have now received adequate training to become a Platypal lobbyist on behalf of the over burdened consumer struggling with the costs of tarrifs and protectionism. (Albeit unpaid.)
Dear Dr. Wolfers. Thank you for your insightful contribution. I heartily endorse your comment that we need to create ways to make a bigger pie. Quite difficult to grow the pie when one group holds all the ingredients. With that being the case, the pie does not need to improve its quality, become more innovative, or is driven by producers who can make a better pie at a lower cost.
We as inhabitants of the planet are faced with four immediate challenges, all related and proposed in no particular order.
1. We have the capability to destroy the planet through the proliferation of nuclear weapons.
2. The planet is on fire brought by the catastrophe of global warming.
3. Wealth and other resources are controlled by a shrinking minority.
4. Nonregulated social media, communications, and artificial intelligence are being used in ways to perpetuate untruths.
Providing a pie that is cut into smaller slices that can be distributed to all may be a logical first step to reach some sort of livable structure.
Thanks Justin, excellent lesson. My first lesson about consumers took place on The Rocks, trading USD for Tooheys. At the end of the night, there was definately a deficit, but a pleasant one that lingered for several days.
Cheers,
I might even have been to that pub...
My partner told me she once received the same lesson down in Cronulla.
Didn't realize I wanted some til just now. Thanks.
Once again...common sense and logic applied to trade policy. "Protection for the producer" does not translate into gain for the consumer. It will go the way of the good ol' "trickle down".
“Consumers don’t have advocates marching on Washington demanding someone pay attention to them.” Um, aren’t our advocates supposed to be the members of congress???
Fabulous!!! Yes, trade is hard, economics in general is hard for some people (like me). People who don't understand are at risk of being fooled by people who do understand and who lie by saying things that are true but misleading. Yes, Greer talks as if manufacturing were the moral center of the universe. And who off-shored all those manufacturing jobs, who broke all those unions, who now talks about bringing in robots and AI to replace the few remaining workers? And as you point out, some of those jobs are not so desirable. So manufacturing is the moral center of the universe when Greer wants to use it to push a policy, but reality is somewhat different. Same for small business in the aggregate. According to the Better Business Bureau, small business is the engine of our economy, the thing that creates the majority of new jobs. It's also the thing that destroys the majority of new jobs, because small businesses fail more often than large businesses. But politicians pull out small business when it's convenient and push the sector into the background as soon as the press conference ends. Low-wage entry-level jobs are another frequently praised sector, although the low wage isn't mentioned when they are being touted as the initial steps on the ladder for teens and moms who want part-time work. After the entry-level job that doesn't pay a living wage turns out to be the only job a teen/woman/minority/disabled person can get, it doesn't look like such a valuable stepping stone to success, but rich businessmen still talk about how they benefit society by "giving" a job to someone who needs to learn how to work hard. End of rant. Your post is marvelous!