Sorrow Residual

regmonkey pretending to understand econ

[Sharaab Singh @metr0politics]

Idk where this “they tried teaching Indians that Aurangzeb was a hero” idea came from. My parents gave me a bunch of Indian history textbooks from the 90s as a kid and none of them said that shit lol. There was often an explicit “good Mughal-bad Mughal” contrast with Akbar lol

[Sorrow Residual @sethposting]

Again and again

https://t.co/IqXPgatRO7

[Total NIMBY Death @BarneyFlames]

Why does anyone care about Stiglitz ? Explain without jargon ? he seems like a massive midwit leftist who's just wrong about everything

[Sorrow Residual @sethposting]

Every time I see this account on my TL, it's a tweet that is confidently wrong. Incredibly consistent on that front.

[Total NIMBY Death @BarneyFlames]

> Indian revenues did not go to the British exchequer

This is straight up false, basically all RW historians make up stuff to flatter their audience

[Shivam Singh @singhshivam3011]

i was reading this piece by avinash dixit which is more interesting than the praise around krugman. on the section of oligopoly and trade. the paper explicitly says trade can reduce monopoly power and push prices closer to costs.

[Sorrow Residual @sethposting]

@onlinebandstand Lots of other causes for me to have this take on, graduate students in Cambridge Massachusettes is not one of them

[Chris Goldammer @floor_per_area]

Minimum Parking Requirements are based on statistical analysis, provide precise estimates, and even include R^2.

So let’s look at that “science”.

(Examples from Shoup, The High Cost Of Free Parking — read this if you haven’t!)

[Sorrow Residual @sethposting]

@DivaJain2 > break stats institutions
> guy works on why broken institutions are getting things wrong
> fix institutions somewhat
> "The guy critiquing our data is an idiot actually"

[Steven Liss @This_Liss]

Had a Jane Street phone interview in 2016. "Price a 6-month forward on carrots."
There's no carrot futures market, so I build one from scratch: seasonal harvest cycles, USDA demand elasticity, cold storage decay rates.
One trader stops me. "Your storage cost function– you're modeling the carrot as dead inventory. Like grain in a silo." He asks me the metabolic respiration rate of a post-harvest carrot at 2°C. I estimate.
"Your forward is overpriced by exactly that shrinkage. The underlying is consuming its own sugars. It's alive." Good correction. I adjust the model. I think I've recovered.
Rejection email comes the next morning. Subject: "Ethical Review." My framework, they write, "relied on the severance of the root organism from its growth medium." The question about respiration was a test. The carrot was still alive and I'd built an entire derivatives structure on top of its death without questioning whether harvest was an acceptable act.
I pull up the recruiter's original email. It doesn't say Jane Street. It says Jain Street– a non-violent quantitative commodities fund.
The carrot was never supposed to be priced. It was supposed to be refused. I later learn the only candidate who passed that round was a former monk from Gujarat who sat in silence for eleven minutes and said, "I cannot put a price on life." He's now a partner.

[Sorrow Residual @sethposting]

@Lux_Stella_ @LittleKeegs0 That's been my reading of UE's takes generally. I think he somewhat appreciates the answer to these questions that Econ gets which therefore tempers his opinions on some policies but is negatively polarized by r/ne0lib econ101ism and overcorrects in his rhetoric

[Sorrow Residual @sethposting]

@twst12612648 @_vonarchimboldi ok but have you considered food can taste better than just about fine

[Sorrow Residual @sethposting]

@BegumMalaika Been a while that way, I think more of his career now is just clapter

[Sorrow Residual @sethposting]

@IndianUrbanist I mean the fact that the charging point has turned into a dustbin kinda indicates to me that people are looking for something to throw their trash in rather than just dropping it on the street lol

[Indian Urbanism @IndianUrbanist]

As bigoted as this is, it’s important to note this isn’t true and not amplify his message as reality. Large numbers of Bengali Hindu’s have been in these camps, a lot of people have taken their own lives and subjected to a variety of procedural harassment.

[Arvind Subramanian @arvindsubraman]

Edited picture because the pre-GST average line was misplaced

[Sorrow Residual @sethposting]

@TAMMYSZN He's an economist sure but he does not publish or work in Econ academia.

[Sorrow Residual @sethposting]

@spacehand2002 @jbsteinberg @besttrousers @elben @NathanJRobinson Incorrect, behavioral economics has a lot to do with microeconomics particularly.

[Indian Urbanism @IndianUrbanist]

The idea that tree cutting in Mumbai is because you can build 25 floors instead of 3-floor buildings, rather than because the city has been horizontally sprawling by roughly 12 sq. km a year for 3 decades, is just bizarre. Everyone just ignores the very basic urbanization pattern

[Indian Urbanism @IndianUrbanist]

There is something to be said about Indian journalists and academics who reminisce about how great life under Sheila Dixit was, as if tree cutting and slum demolition are very recent features of Indian cities rather than the explosion of an established pattern.

[Sorrow Residual @sethposting]

@spacehand2002 @jbsteinberg @besttrousers @elben @NathanJRobinson No, he did his PhD at the Dept of Econ. Behavioral Econ is Econ.

[Sorrow Residual @sethposting]

@RobJWlodarski @mean_field_zane It's hard to find it online but anecdotally, ISI Kolkata's MS QE

[Sorrow Residual @sethposting]

@jbsteinberg @besttrousers @elben @NathanJRobinson Economists don't stop being economists because you disagree with them