KingoftheCoast @kingofthecoastt Twitter profile

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KingoftheCoast

@kingofthecoastt

11 months

★☭MassStrikeNow☭★

@strike_dr

11 months

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KingoftheCoast

@kingofthecoastt

1 year

Still funny

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KingoftheCoast

@kingofthecoastt

1 year

Ironically, socialist enterprises pay their workers 14 percent *less* than comparable capitalist companies From a study on Italian cooperatives👇

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KingoftheCoast

@kingofthecoastt

2 years

GDP/capita greatly overstates the living standards in financial hubs & resource-rich nations. A better measure is average Individual consumption. Using this, we find that the US is ahead of Norway, Switzerland, Singapore, and Hong Kong

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KingoftheCoast

@kingofthecoastt

1 year

Sucks to see so much money in the hands of people who didn’t earn it

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KingoftheCoast

@kingofthecoastt

4 months

In 2011, Wisconsin nuked the ability of teachers unions' to negotiate compensation & opened the door to individual pay This incentivized large numbers of college students to enter teaching -- particularly from selective universities -- and appreciably raised K-12 achievement

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KingoftheCoast

@kingofthecoastt

27 days

Time to run it back

NewsWire

@NewsWire_US

28 days

LONDON — Britain's newly elected Labour government says it will renationalize railways "as soon as possible.”

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KingoftheCoast

@kingofthecoastt

9 months

Fun fact: Each French social housing unit fully crowds-out ~two private ones, bc the social housing sector uses developable land much less intensively So if you want dense, abundant housing, might be time to call in the dreaded "capitalist YIMBYs"

Darsam 🇫🇷

@Darsam12_

10 months

There's very serious people who think the solution to the housing crisis is evicting anyone who can't afford a €1k rent and hope a concentrated handful of real estate developers will willingly build more to make their own parasitic activity less profitable

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KingoftheCoast

@kingofthecoastt

1 year

Talking about Norway btw^^

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KingoftheCoast

@kingofthecoastt

2 years

I firmly support the Nordic Model: More Billionaires per Capita (NOR) Right to Dismiss Striking Workers (DEN) Partially Privatized Pensions (SWE)

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KingoftheCoast

@kingofthecoastt

1 year

Market socialists have been really quiet since this dropped

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KingoftheCoast

@kingofthecoastt

1 year

I have hyped it up long enough! Here is a thread on Neumark and company’s recent paper, and what it means for the future of minimum wage research.

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KingoftheCoast

@kingofthecoastt

3 months

Fun fact: The forest can be enclosed and maintained, then accessed by consumers in exchange for an entry fee. No cutting down needed👍

Childhood's End

@AdvanceHumanism

3 months

Capitalism and trees.

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KingoftheCoast

@kingofthecoastt

1 year

Narrator: They were not, in fact, different people

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KingoftheCoast

@kingofthecoastt

10 months

This book is ass btw

Spargles 🇦🇺

@spargles

10 months

I strongly recommend you read it 👇👇👇👇

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KingoftheCoast

@kingofthecoastt

8 months

Live reaction from Cato headquarters:

Matthew Yglesias

@mattyglesias

8 months

When more immigrants are around, voters favor less redistributive economic policy.

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KingoftheCoast

@kingofthecoastt

4 months

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KingoftheCoast

@kingofthecoastt

19 days

I think there should be a lot more push back on the idea that Covid exposed supply chain “failures” Not being optimized for a once in a century shock is probably a good thing if there is any weight on waste minimization

Joseph Stiglitz on Why Supply Chains Are Always Too Fragile

Why do companies under-invest?

www.bloomberg.com

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KingoftheCoast

@kingofthecoastt

4 months

My conclusion is that paying public school teachers more is perfectly fine and good so long as that pay disproportionately goes to effective ones (regardless of their seniority or exact credentials).

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KingoftheCoast

@kingofthecoastt

1 year

Guess what they were arguing about

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KingoftheCoast

@kingofthecoastt

4 months

Georgists rn

Nathan Tankus

@NathanTankus

4 months

The BEA is apparently working on a "Machine Learning" approach to estimating land value. According to their approach "we find private land in the contiguous U.S. was worth an estimated $24 trillion in 2015, or approximately $19,050 per acre"

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KingoftheCoast

@kingofthecoastt

3 months

The consumer protection laws, minimum quality standards, price caps, and entry regulations have worked very well in the cocaine industry.

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KingoftheCoast

@kingofthecoastt

10 months

Wild. "Despite Sweden’s universal health insurance and extensive social safety net, we document substantial health inequality, across the life cycle. In fact, at the end of life, health inequality is as pronounced in Sweden as it is in the US.”

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KingoftheCoast

@kingofthecoastt

7 months

I love the US so much

CoKeynesian

@CoKeynesian

7 months

Reject Modernity, Embrace Tradition!

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KingoftheCoast

@kingofthecoastt

18 days

Nixon🤝Me Not giving af about exchange rates

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KingoftheCoast

@kingofthecoastt

5 months

*rich person gives money to a US cause* EA: Giving is admirable, but here are some potentially better causes Ben: HOW DARE YOU SAY GIVING IS ADMIRABLE🤬

Ben Gross 🔆

@bengrossbg

5 months

I thought maybe this post would find me in common cause with the effective altruists. But no they’re still eagerly licking the boot of every rich person they see. It’s quite the moment they’ve built here, all the fun of feeling superior and none of the commitment to your ideals.

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KingoftheCoast

@kingofthecoastt

7 months

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KingoftheCoast

@kingofthecoastt

1 year

Increases in police union power (duty to bargain requirements) greatly raise the number of civilian deaths at the hands of police. Importantly, the effect appears to be entirely concentrated on non-white civilians.

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KingoftheCoast

@kingofthecoastt

3 months

The finding that parents pick *causally* better schools in a multi-dimensional sense (test scores, teen motherhood, employment, crime), is simultaneously... - a great reminder to not over focus on test scores in ed research - a great Hayekian argument in favor of school choice

Crémieux

@cremieuxrecueil

3 months

This finding holds up in many important areas, but it's been neglected, with big implications for policy. Study link: To learn more, check out my latest article:

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KingoftheCoast

@kingofthecoastt

7 months

Besides the the fact that the free market alternative is ratings agencies competing for public trust, a moderate solution would be to use liability risk instead of regulation

James Medlock

@jdcmedlock

7 months

The free market alternative to health inspectors—making each individual determine the cleanliness of each establishment they eat at—is inefficient and unworkable. Hats off to the trained individuals we’ve tapped to do this work for the rest of us 🫡

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KingoftheCoast

@kingofthecoastt

22 days

SDL

@SocDoneLeft

23 days

@unes33501870 @ReviewsPossum That's true. That's why near-universally unionized European construction is so slow & costly, while US construction per mile is a mere 4 times more expensive.

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KingoftheCoast

@kingofthecoastt

10 months

Good👇 "Relying on a regression discontinuity design, our analysis finds that Chinese privatizations [over the 1998-2008 period] led to productivity gains of more than 170 percent, an order of magnitude larger than the traditional estimates"

David

@Data_David1

10 months

State owned enterprise employment has fallen significantly compared to the early 1990s in China.

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KingoftheCoast

@kingofthecoastt

2 months

The idea that ratings agencies severely misclassified mortgage-backed-security risk prior to the 2008 Crisis seems untenable. Vast majority (~85%) were AAA, and these did experience relatively small losses -- especially so for the subprime segment.

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KingoftheCoast

@kingofthecoastt

10 months

If I were president, the first thing I would do is offer every highly-educated worker in Scandinavia a green card Ideally, this reform would be so successful that I'd never have to hear the words "Nordic Model" ever again

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KingoftheCoast

@kingofthecoastt

2 years

There's one caveat to this. While it's generally better to use some measure of household income or individual consumption, it is very hard to find these statistics over long time frames. So gdp/capita is superior when making historical comparisons

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KingoftheCoast

@kingofthecoastt

8 months

Can't believe I never thought of this. What a great way to privatize

:3

@BasketOfCereal

8 months

Milei found the best way to un-nationalize a government company. He's giving it directly to the workers, removing the government subsidies, and allowing other companies to compete. Communists should unironically support Milei.

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KingoftheCoast

@kingofthecoastt

2 years

Really interesting meta-analysis on teachers' unions and student outcomes. Goes through 3 decades of evidence. Authors find higher costs with slightly worse student outcomes at best, and moderately worse student outcomes at worst.

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KingoftheCoast

@kingofthecoastt

2 years

Here's the great paper on it:

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KingoftheCoast

@kingofthecoastt

1 year

Deregulation of Sweden's state-run pharmacy monopoly was good for workers. After the 2009 reform, local labor market concentration fell and wages increased.

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KingoftheCoast

@kingofthecoastt

5 months

Behold, the ravages of UK austerity

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KingoftheCoast

@kingofthecoastt

4 months

How well do cooperative firms compete? When India liberalized entry into industries previously “reserved” for small firms (<50 workers), the revenues of incumbent capitalist firms & supplier co-ops were unaffected. However, the revenues of incumbent worker co-ops shrunk by ~25%

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KingoftheCoast

@kingofthecoastt

6 months

To be fair, there is some evidence that raising taxes and cutting spending are not equivalent.

Paul E Williams

@PEWilliams_

6 months

I want to believe people who care about the deficit actually think it has some intrinsic value, but it's hard because every time I see it brought up it's to call for cuts. Increasing revenues has the equivalent effect. Today, the amount of uncollected taxes is 50% of the deficit!

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KingoftheCoast

@kingofthecoastt

1 year

Uber is simultaneously... 1. A large income transfer from VC bros to consumers 2. A backstop for under/unemployed workers 3. A tool to reduce drunk driving (i.e pos externalities) Yet people on the left oppose it

Liberty 💚🥃

@LibertyRPF

1 year

"Uber has $31.5bn in operating losses since 2014"

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KingoftheCoast

@kingofthecoastt

6 months

Funniest part of this paper is when it finds that, in addition to being overrepresented in the "liberal" group, more intelligent people are also way less likely to support redistribution

James Medlock

@jdcmedlock

6 months

Share this chart to scare Racism Twitter

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KingoftheCoast

@kingofthecoastt

10 months

Should all be the goofy dragon

Joel Ellenwood

@_InfiniteZeal

10 months

Who’s most influenced your economic thought?

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KingoftheCoast

@kingofthecoastt

11 months

I feel like 1. Consolidating the income tax into a progressive payroll tax 2. Shifting the corporate tax to a business cash-flow tax 3. Lowering rate on individual investment income 4. Raising the rate on inheritance has the potential to make a broad range of people happy

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KingoftheCoast

@kingofthecoastt

4 months

This reduces asymmetric information, and for that reason it is very good. All the property owners who cheat their contract ex-ante or try to defraud the insurance company ex-post will no longer be able to offload costs onto others.

Julie Fredrickson

@AlmostMedia

4 months

Rednecks rise up. They are coming for your in-ground trampolines

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KingoftheCoast

@kingofthecoastt

5 months

So public goods are under provided by the market because they only deliver diffuse private benefits And public goods are also under provided by democracy because....they only deliver diffuse private benefits

NBER

@nberpubs

5 months

Indian voters reward incumbent governments only in response to private welfare benefits, not public good benefits, providing evidence of clientelism, from Pranab Bardhan, Sandip Mitra, Dilip Mookherjee, and Anusha Nath

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KingoftheCoast

@kingofthecoastt

9 months

What happened when France finally ditched this state-led system & liberalized in 1985? ⬇️bailouts of poorly performing firms ⬆️asset & job reallocation ⬆️allocative efficiency (stronger link btw productivity & market share) ⬇️decline in concentration

josh ryan-collins

@jryancollins

9 months

Finally reading Eric Monnet's brilliant "Controlling Credit" (2018) on French post-war financial policy. Banking system was nationalised and committed to long-term (>2 years) "investment credit" to corporations to support capital development, rising from 10% to 50% GDP in 20 yrs.

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KingoftheCoast

@kingofthecoastt

10 months

The left-right balance here is beautiful

Berk

@AwayBerk

10 months

• employers should be able to fire strikers • taxes should go up • pay everyone in Congress way more • no compulsory schooling after middle school • more military spending • open the border • make cars cost prohibitive in cities • citizens united was correctly decided

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KingoftheCoast

@kingofthecoastt

5 months

“it has been used to destroy the planning system so the development industry can run riot”

Prof Geoff Hanmer

@GeoffHanmer

5 months

YIMBY is a radical free market ideology that hides behind concern for “housing families”. It appears to have had its genesis in Republican states in the US where it has been used to destroy the planing system so the development industry can run riot.

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KingoftheCoast

@kingofthecoastt

2 years

This troll post comes after learning that striking is a breach of contract (unless otherwise specified) in Denmark and Austria. Social democracy FTW

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KingoftheCoast

@kingofthecoastt

3 months

I'm so tired dawg

DT Cochrane

@DTCochrane

3 months

Remember the worry that higher capital gains taxes would hurt productivity? Turns out that positive capital taxes are positively correlated with output per work hour.

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KingoftheCoast

@kingofthecoastt

10 months

Unions doing union things

Mike Solana

@micsolana

10 months

wait, so the studios can't use GPT but the "writers" can? lmaoooooooo

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KingoftheCoast

@kingofthecoastt

13 days

The "I love it when asset prices move wildly whenever I try to buy or sell" mfs are at it again

adam 🇺🇸

@personofswag

13 days

america if high frequency trading was illegal

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KingoftheCoast

@kingofthecoastt

11 months

I just want a world where I can legally sell my kidney and put the thousands of dollars toward the hedge fund of my choosing. Is that too much to ask?

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KingoftheCoast

@kingofthecoastt

1 year

There's nothing I like more than happy union workers That's why I support Right-to-Work laws, which seem to significantly increase their well-being (measured by life satisfaction and economic sentiment) 🥳

KingoftheCoast

@kingofthecoastt

1 year

I have done it. I have developed the ultimate troll post.

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KingoftheCoast

@kingofthecoastt

1 year

Don’t be this guy

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KingoftheCoast

@kingofthecoastt

18 days

He really said...

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KingoftheCoast

@kingofthecoastt

1 year

"Market forces don't work in healthcare"

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KingoftheCoast

@kingofthecoastt

2 years

Average Consumption of Bottom 20%: - USA = $24,500 - EU Area = $15,500

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KingoftheCoast

@kingofthecoastt

4 months

Swiss tax code looks like at massive outlier at just ~35,000 words

Will McBride

@EconoWill

4 months

As of 2021, the US income tax code was 4.3 million words long and growing. That's much longer, and presumably much more complicated, than tax codes found in other countries:

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KingoftheCoast

@kingofthecoastt

4 months

As expected the effect on test scores exhibits an initial dip, presumably due to short-run increases in turnover and retirement, followed by a rise to ~0.2 district-level standard deviations

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KingoftheCoast

@kingofthecoastt

3 months

"Implement measures to reduce the growth rate of Medicare and Medicaid spending"

Matthew Yglesias

@mattyglesias

3 months

I asked GPT-4 what we should do about the deficit and I think I’m ready for AI rule now.

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KingoftheCoast

@kingofthecoastt

9 days

Farsighted libertarian who supports Kamala, because giving healthcare subsidies to illegal immigrants will erode popular support for the welfare state

Crémieux

@cremieuxrecueil

9 days

Are you ready for four more years of demand subsidies? Link:

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KingoftheCoast

@kingofthecoastt

10 months

The pro-union people finally coming out as anti-automation is really great tbh

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KingoftheCoast

@kingofthecoastt

10 months

Couple things to note 🧵 1. GDP/hr worked is capturing a lot of junk in places like Luxembourg and Switzerland (which are two richest in this European comparison group) Something like avg household income/hr worked is a much better measure, and the results speak for themselves

Slazac 🇺🇸🇺🇦🇹🇼🌐

@TrueSlazac

10 months

Turns out “Europoors” just work less

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KingoftheCoast

@kingofthecoastt

6 months

If I wanted to lower the price of rx drugs, I would (in order)… 1. Nuke the FDA 2a. Weaken pharmaceutical patents 2b. Try to maintain R&D w/ tax credits 3. Enact reference pricing 4. Patent Auctions w/ random gov't buyouts … 50. Enact price controls (“negotiate”)

Matthew Yglesias

@mattyglesias

6 months

This is the "let Detroit go bankrupt" of 2024

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KingoftheCoast

@kingofthecoastt

9 months

The *Four* Worlds of Welfare Capitalism

Chris Pope

@CPopeHC

3 years

European welfare states that provide the most generous public pensions to affluent retirees provide the smallest net benefits to the working age poor.

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KingoftheCoast

@kingofthecoastt

1 year

The differences here are similar to estimates of the large-firm wage premium

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KingoftheCoast

@kingofthecoastt

9 months

My takeaway from this is that SDL would be fine privatizing fire department services, so long as we made people subscribe to a provider ex-ante (i.e. before their house burned down) I would be willing to accept this compromise

SDL

@SocDoneLeft

9 months

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KingoftheCoast

@kingofthecoastt

3 months

It is always refreshing to learn that the general public has terrible policy positions

Chris Elmendorf

@CSElmendorf

3 months

What do we find? The people want price controls! And demand subsidies! And restrictions on Wall. St. investors! /11

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KingoftheCoast

@kingofthecoastt

6 months

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KingoftheCoast

@kingofthecoastt

10 months

Alex Williams

@vebaccount

10 months

Thank You Big Fiscal

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KingoftheCoast

@kingofthecoastt

1 year

Repost bc the earlier version got deleted somehow. This includes wages and dividends received by worker-owners, and the premium is identified by workers switching between the two (along with relevant controls).

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KingoftheCoast

@kingofthecoastt

3 months

Good contrarian healthcare take is that prices been generally falling (not rising) over the past couple of decades, if one reasonably adjusts for the value of quality improvements.

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KingoftheCoast

@kingofthecoastt

10 months

Post-Keynesians be like… “Thank you big fiscal”

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KingoftheCoast

@kingofthecoastt

8 months

Jamieツ🌱🇩🇰🇵🇸🏳️‍🌈

@GardenSocialist

8 months

Why do liberals think “if coops were actually better they would outcompete corporations” is like a gotcha? Like are we just gonna pretend that corporations don’t constantly team up to destroy new coops so their workers don’t get any ideas about better conditions?

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KingoftheCoast

@kingofthecoastt

4 months

Possible mechanism: worker co-ops uniquely fail to diversify their product offerings “[Worker co-ops] appear to be less agile in their production than their non-co-op counterparts, which may be one reason for the former’s relatively poor performance”

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KingoftheCoast

@kingofthecoastt

2 months

Here is how the ratings would have changed if one knew the following realized loss rates with certainty: AAA - 2.2% AA - 33.1% A - 38.8% BBB - 46.9% NIG (non-investment grade) - 52.6%

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KingoftheCoast

@kingofthecoastt

1 year

So was supply side (“trickle down”) economics actually wrong about anything?

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KingoftheCoast

@kingofthecoastt

6 months

Americans are already trying to find Ozempic's limits

Dexerto

@Dexerto

6 months

McDonald’s is releasing a Double Big Mac

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KingoftheCoast

@kingofthecoastt

3 months

“Policy announcements that suggested a willingness to do whatever it took to restore market confidence had significantly greater impact than announcements that included an explicit limit on the scale of asset purchases.”

NBER

@nberpubs

3 months

Featured in the latest Digest: "When Central Bankers' Words Spoke Louder than Their Action"

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KingoftheCoast

@kingofthecoastt

11 months

If you like the correlation between GDP per capita and good things, you will *love* the correlation between household income and good things, which ends up being stronger on basically every measure

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KingoftheCoast

@kingofthecoastt

2 years

"Our empirical subjects are public & private entities’ compliance w the U.S. Clean Air Act and Safe Drinking Water Act. We find that, compared w private firms, gov'ts violate these laws significantly more frequently & are less penalized for violations"

American Journal of Political Science | MPSA Journal | Wiley Online Library

This article advances a political theory of regulation that accounts for the choices of regulators and regulated entities when both are governments. Leading theories of regulation assume that...

onlinelibrary.wiley.com

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KingoftheCoast

@kingofthecoastt

9 months

“…try operating the economy without them.” I’m in

Stephanie Kelton

@StephanieKelton

9 months

If you think government “deficits don’t matter,” try operating the economy without them. Deficits are a necessary, but not sufficient, condition for anything approximating full employment and financial stability.

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KingoftheCoast

@kingofthecoastt

4 months

I think the gender pay gap truthers have definitely overplayed their hands. Occupation, job experience, and (ideally) firm-specific wage controls are all perfectly fine to include, if one wishes to test the "equal pay for equal work" hypothesis.

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KingoftheCoast

@kingofthecoastt

2 years

Not sure who needs to hear this but…👇

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KingoftheCoast

@kingofthecoastt

4 months

Lawrence H. Summers

@LHSummers

5 months

In new NBER paper with @MA_Bolhuis , @juddcramer and Oskar Shulz, we argue that the unprecedented increase in borrowing costs is crucial to explaining the low consumer sentiment of the last two years. 1/N

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KingoftheCoast

@kingofthecoastt

4 months

"[Despite] this being a selection market, we find that Chile’s fully voluntary annuity market delivers higher average consumer surplus and lower deadweight loss than systems with a mandatory social insurance component"

KingoftheCoast

@kingofthecoastt

4 months

I realize I placed the wrong link above🤦‍♂️. Here is the correct one:

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KingoftheCoast

@kingofthecoastt

2 months

Every couple of months a new variant of Austrian Business Cycle Theory arrives

NBER

@nberpubs

2 months

Studying how bounded rationality evolves with the macroeconomy finds empirically that firms make more mistakes during booms, leading to fast crashes and slow recoveries, from @joel_flynn and Karthik Sastry

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KingoftheCoast

@kingofthecoastt

11 months

Non-insane right-winger who emphasizes economic growth is somehow an arbitrage-able position on this site

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KingoftheCoast

@kingofthecoastt

1 year

I don't care what the haters say. This is a funny picture

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KingoftheCoast

@kingofthecoastt

1 year

Here is household income* per hour worked by country This includes all market income, cash transfers, and in-kind transfers such as education and healthcare.

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KingoftheCoast

@kingofthecoastt

1 year

Denmark's wealth inequality has fallen by 20% since 1992. Using a life-cycle model, these authors find that the transition to a fully-funded pension scheme can account for much of the decline.

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KingoftheCoast

@kingofthecoastt

1 year

@Pol_Econ_ I have no idea how rich Statoil (Equinor) would be without those. My guess is much less

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0

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KingoftheCoast

@kingofthecoastt

1 year

North Carolina lifted it's statewide cap on charters, and the competitive pressure increased average school quality

Scott Lincicome

@scottlincicome

1 year

New @nberpubs : "School Choice, Competition, and Aggregate School Quality"

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KingoftheCoast

@kingofthecoastt

2 months

In fact, it's a caution against complex gov't plans to technocratically manage competition 90% of the problems with Private Medicare are solved by replacing administered pricing with competitive bidding, & replacing risk adjustment with a system of reinsurance. Simple & elegant

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KingoftheCoast

@kingofthecoastt

11 months

I have never seen one of these where I disagree with every single policy

Long Island Democrat 🇺🇸

@LIDemocrat

11 months

Pick 3 LI Dem policies -Ban Right-to-work - $17 min wage by 2026 -Australia-style gun laws - Limits on corporate donations and donor contributions - M4A - Federal Jobs guarantee - Federal Housing Guarantee - Wealth Cap at 400 M - Ban Charter Schools - Legalize all drugs

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KingoftheCoast

@kingofthecoastt

5 months

As we all know, the best way to build your philanthropy brand is to aggressively insult anyone who does things that you disagree with

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