Matt R

[Matt R @MattR2054661]

@Hitchslap1 isn't this based on gre scores? gre test takers =/= average philosophy major

[Matt R @MattR2054661]

@neocentrist @MakeUSAVAT you don't think the subprime loans made financial institutions vunerable?

[Matt R @MattR2054661]

@armsq17 And the contribution of Industrial Policy is that it facilitates investment that may not have occurred otherwise. Why? Because in a world of uncertainty there is no guarantee that their will be sufficient private sector investment in projects that will facilitate industrializatio

[Matt R @MattR2054661]

@armsq17 I didn't claim it was SIMPLY AND ONLY due to IQ, I said both IQ AND Industrial Policy can be necessary for development.

[Matt R @MattR2054661]

@armsq17 I would add that government support for the agricultural sector in terms of credit and infrastructure to increase output is important as well.

[Matt R @MattR2054661]

@armsq17 5) EA countries implemented land reform which increased food yield. As a consequence precious foreign exchange could be used to import capital inputs instead of food. Land Reform was something that South American and South East Asian Countries failed to implement.

[Matt R @MattR2054661]

@armsq17 Also, if we are saying that there has been one example of failed export oriented industrialization and most have succeeded that doesn't strike me as survivorship bias. Seems closer to the opposite.

[Matt R @MattR2054661]

@armsq17 Ethiopian example isn't inconsistent with the idea that BOTH High IQ and Industrial Policy can be necessary
for economic development.

my response to the rest of Hannia's article here

https://t.co/OL0Tggfrcx

[Matt R @MattR2054661]

@armsq17 What are examples of failed East Asian style export oriented industrialization that am I ignoring? I hope we are not lumping in all forms of industrial policy into one big basket, as if the differences in economic strategy and nuance do not matter?

[Matt R @MattR2054661]

@armsq17 that maybe true, but the levels of state intervention in the western European economies would make Obama look like a libertarian and it seems to have been successful, at least in the 1945-1970's period.

[Matt R @MattR2054661]

@Lord_Keynes3 Hey LK, I realize he blocked you but do you have any thoughts on this blog post by R Hanania?

https://t.co/S3ShmMcXzh

[Matt R @MattR2054661]

@humbletaxevader @doomernat22 Baumol's cost disease might be the biggest contributor to this instead of government. Notice how everything that is getting cheaper are durable goods, but everything else is more labor intensive and rising with the cost of wages.

[Matt R @MattR2054661]

@OnlyTrutheaven @BobMurphyEcon @NewmanJ_R it could be the opposite, firms do not want to raise prices to lose their customers, nor do they want to reduce the quality of their product for the same reason.

and if firms face constant or falling marginal costs why would they engage in cost cutting?

[Matt R @MattR2054661]

@OnlyTrutheaven @BobMurphyEcon @NewmanJ_R 1) It is. Your switching from the traditional straight forward definition of price used in the S&D model to a very very loose definition in order to salvage it.

2) do you think most firms surveyed are reducing the quality of their products instead of raising prices?