All the “theories” I posted are observable in the real world. Not things out if a Keynesian textbook about building pyramids for economic growth, or burying jars of printed money.
There’s a reason why these people make crap money instead of raking in tens of millions at a macro fund; they suck at their field. The market ascribes far lower value to them than me in terms of accurate forecasts, you can argue against it all you want but it doesn’t change facts now does it?
People in my field agree with me nearly unanimously.
It is a BS statement. You recognize that by your wording after the comma. It is hasty generalization because some who teach can do, but the statement implies those people don’t exist.
What an insular, confirmation bias affirming, narrow view community this is. Clearly, the relentless pursuit of money is more important than anything else.
The problem with a discussion on UBI is that UBI isn’t necessarily a solution to a problem but the problem is the problem. Simply saying it will be addressed by job displacement (whatever that even means) does not convince anyone who has a grip on reality outside of the view from their office. A 50 year old with a HS diploma (maybe) who has been doing the same job since HS, is not going to learn how to code.
But that’s how economists think: assume that X will happen as a result of Y. When they say things like “people will” it shows no understanding of people and their individual circumstances and abilities. If everyone could do a job that pays six or seven figures, then they would already be doing it. Look at a random group of 1,000 16 year olds. Does anyone believe they will see 1,000 potential engineers, medical doctors or entrepreneurs?
So you don’t think the market ascribes value?
I agree with you here. I was talking about the EITC there - haven’t read on that.
No one near retirement will change jobs, it’s not worth the investment at that point.
Let’s say that’s true. Who put them into words?
Have you ever built anything?
And how does that help someone who loses their job? Maybe you can forecast staying on point,
I’m not even sure anyone has fully advocated for it in here so not sure who you’re talking to.
Yeah I don’t think you have any shortage of feeling like you’re more qualified and intelligent than everyone else.
The market does ascribe values, but you implied that that ascribed value is the only thing worth pursuing and therefore the professor is/was not as intelligent/efficient/whatever as a fund manager as you or your colleagues. Maybe that professor used to manage a fund, and decided he would rather pass his knowledge on because he doesn’t put material goods above all else. Maybe he made a lot of money but was miserable and racked with depression. Who knows?
I put them into words, it’s pretty easy to observe having worked in the real world.
Yes, I’ve built superior Sharpe ratios in the FIG sector for our clients.
It helps people who lose their job because price discovery and liquidation of unprofitable and unnecessary industry is what allows aggregate increases in standards of living.
It’s possible, just highly unlikely.
According to your world view.
I’m addressing the idea of UBI and why it’s a joke.
I’m more qualified than the professors who never spent a day in the real world, yes, I’m confident saying that.
And your disagreement is according to your world view, right?
My experience in my given trades has been that, whenever possible, avoid hiring anyone that went to school for it. They learn all kinds of goofy nonsense and know next to nothing about actually doing the work correctly - especially do they not grasp why the correct way is correct and why the idiotic thing they learned in school is a bad idea. There surely are teachers that are also proficient, but most of them are teaching on the job. I did masonry contracting most of my life, which I learned from my father. I would get kids fresh out of school telling me they could lay 500 blocks a day. They, to a man, had never actually worked a whole day or laid 500 blocks total in their entire lifetime, but based on something at school or a “Competition” this was their claim. I never had a single one of them capable of telling me which side of the block is the top and which side is the bottom. I also never had a single one capable of so many as 50 block a day. I also worked around some of the instructors on residential site - which explained exactly why the kids graduated with zero ability.
A question could be, if coal mining goes the way of the dodo, is it cheaper for the government (taxpayers) to just continue paying miners, of a certain age, and invest in retraining those of a certain age or just say, oh well, that’s the market, good luck. And then assume they will go out and learn on their own and get a different (much different job) all while having to compete with people who are already doing that job or have also been training for that job? I think some people overestimate the power of market forces. They aren’t The Force.
I wouild wager that most of them could make the jump to operating excavation equipment and work outside of the Coal Mining field. They are unlikely to pick up coding, and unemployment is there to help people make that switch.
Or just the knowledge that humans do things for a myriad of reasons. Your argument is like saying a Harvard or Columbia Law Professor is only a professor because they were a shitty lawyer - I doubt this is the case.
Words you got from?
So you never built anything. Building a portfolio is not building. I just built some sentences.
Yes, that’s what they tell the poor and working class. It’s better here than in Mexico.