@TrueSlazac@SalzigeKane You can’t argue with them. It’s their religion. No matter that theory, logic, and actual studies show their beliefs are wrong. It’s always.. it’ll be different this time trust me bro.
@Jessecooksfood Of course there’s still demand for service workers! Always will be. The economic fact is that there are fewer hours being worked to offset the increase in cost. To achieve this there will be some combination of reduced overtime, fewer staff/jobs overall, and automation.
@MarcGoldwein@berniemoreno@SenWarren There are very few times when those two agree on something that it’s a good thing. Half measures to addressing the structural gap that will 1. Negatively impact growth but also 2. Not fix the issue… seem like a very bad path forward to me.
@Polymarket That’s not a surprise because JD Vance and Bernie Sanders are equally illiterate economically and both disregard the Constitution when it fits their needs. Socialism and Fascism are twin flames
“Policing should be more targeted” lolololol
Let me tell you a story about targeted policing. So Seattle got speeding cameras a few years ago, an advisory group had to recommend where to place them.
One thing they hated was that if the cameras were simply put in the most dangerous places—with the most dead children—it would be disproportionately in PoC neighborhoods.
So the working group wanted to move some cameras into whiter neighborhoods.
But think about the implications for a second: local residents are the ones most likely to be caught speeding and local residents are the ones most likely to die in collisions.
Targeting actual need of speeding cameras was deemed racist. So the implication of the group’s recommendations was to literally kill poorer children of color, so that more white people would get speeding tickets.
The key insight, explained numerous times in different ways by many economists, is that it is *competition* between firms that protects workers, not the benevolence of firms
Also, there is the empirical fact that only 1-2% of workers in the US are paid the minimum wage
In 15 years states will be scratching their heads wondering why they didn’t build more of the magic buildings full of computers that throw off millions in property taxes while consuming minimal water and helping pay for the modernization of the electric grid
@Maxs_Ghost@JimPethokoukis@arxiv Most of them are building their own power. Why is everything anti data center people hyperbolic using weird, irrelevant benchmarks (it’s 100 million atomic
Bombs worth of power ahhh!) or provably false (raising your rates! consuming all the water!)
@gabriel_zucman We’re coming out of a decade of basically zero interest rate world after forever of high interest rate world. Of course assets have grown faster than GDP.
When @elonmusk's balance sheet grows to a trillion dollars, it does not mean other people lose money.
It means the economy as a whole is growing.
https://t.co/BHsGChU8TB