OT: Current Affairs and Politics

[Bandwagon]

But you gave heaps of examples of new things that were replaced, which was my point. Any given new thing is likely to disappear very quickly, just like all the new shit that appeared long ago that we've never heard of. The things that are likely to last are the things that have already lasted.

Some will some won't, it's not like the system we have today is particularly old, though that depends on your definition of old i suppose

I mean I'm older than the ( kinda ) adoption of supply side economics, and the fiat monetary system, so whilst not new, these are certainly not old.

Anyways this diverges from my point, things change, when they do the older things are replaced with newer things, we call that progress, sometimes it is, sometimes it isn't, but change they do.

 

[Gary Gutful]

Ch-Ch-Ch-Ch-Changes!

 

[Poupou Escobar]

Some will some won't, it's not like the system we have today is particularly old, though that depends on your definition of old i suppose

I mean I'm older than the ( kinda ) adoption of supply side economics, and the fiat monetary system, so whilst not new, these are certainly not old.

And my point is that we should expect these new things to be replaced before older things are.

 

[crocodile]

Some will some won't, it's not like the system we have today is particularly old, though that depends on your definition of old i suppose

I mean I'm older than the ( kinda ) adoption of supply side economics, and the fiat monetary system, so whilst not new, these are certainly not old.

Anyways this diverges from my point, things change, when they do the older things are replaced with newer things, we call that progress, sometimes it is, sometimes it isn't, but change they do.

Supply side actually predates Keynes.

 

[Bandwagon]

Supply side actually predates Keynes.

You'll note I used adoption of.

 

[Bandwagon]

And my point is that we should expect these new things to be replaced before older things are.

The older things these things replaced?

How's that gonna work?

 

[Gary Gutful]

Reverse Osmosis.

 

[Poupou Escobar]

The older things these things replaced?

How's that gonna work?

More likely is they replaced other new things. The older things tend to keep going.

 

[crocodile]

You'll note I used adoption of.

It was adopted before Keynes

 

[Bandwagon]

It was adopted before Keynes

Mmm, was it?

Certainly not in the form it was embraced from Reagan onward.

 

[crocodile]

Mmm, was it?

Certainly not in the form it was embraced from Reagan onward.

I don't necessarily view Reagan as an ardent supply sider in the vein of characters like von Mises and Mundell et al. He simply stumbled on Arthur Laffer's simplistic and now famous Laffer Curve. Contrast his large tax cuts with the actions of his federal treasurer Paul Volcker who went against prominent monetarists like Freidman and proceeded to tighten the money supply in attempt to squeeze inflation. With great success I might add. Keating was to emulate the same principle in the 90s recession. Contrast it also with his massive spend on the Star Wars program and one could only conclude that Reagan was just a part time supply sider. Many of his other policies are straight from the Keynes notepad.

Even Laffer himself was horrified as shown in later interviews and readily accepted that a simple tradeoff between tax and revenue is not so simple. There are multiple taxes and in reality, multiple peaks in his famous curve. Naturally, multiple troughs as well as adequately shown by Rolle's theorem.

To anyone with a penchant for observing the political economies it is pretty obvious that there are only degrees of supply sidedness and demand sidedness. In reality, both are employed. Demand policies by the fact that social constructs are important as is adequate distribution of incomes. Can't really demand anything with an empty pocket. Supply side policies by the obvious situation where one can only demand up to value of what they can produce themselves. How true. One of the reasons why continuous expansion of the money supply eventually runs out of puff and inflation stalls. Just as it has for the last 10 years or so. In the end, we have to produce stuff. I'll have to leave it there and there are many gaps but I don't want to write a 200 page essay.

 

[emjaycee]

It's only ridiculous where the state is strong enough to monopolise the use of force within its borders. You might think the West is the entire world but I've been to quite a few places where an hour's drive from the airport the state effectively disappears.

How is Perth by the way?

 

[Bandwagon]

I don't necessarily view Reagan as an ardent supply sider in the vein of characters like von Mises and Mundell et al. He simply stumbled on Arthur Laffer's simplistic and now famous Laffer Curve. Contrast his large tax cuts with the actions of his federal treasurer Paul Volcker who went against prominent monetarists like Freidman and proceeded to tighten the money supply in attempt to squeeze inflation. With great success I might add. Keating was to emulate the same principle in the 90s recession. Contrast it also with his massive spend on the Star Wars program and one could only conclude that Reagan was just a part time supply sider. Many of his other policies are straight from the Keynes notepad.

Even Laffer himself was horrified as shown in later interviews and readily accepted that a simple tradeoff between tax and revenue is not so simple. There are multiple taxes and in reality, multiple peaks in his famous curve. Naturally, multiple troughs as well as adequately shown by Rolle's theorem.

To anyone with a penchant for observing the political economies it is pretty obvious that there are only degrees of supply sidedness and demand sidedness. In reality, both are employed. Demand policies by the fact that social constructs are important as is adequate distribution of incomes. Can't really demand anything with an empty pocket. Supply side policies by the obvious situation where one can only demand up to value of what they can produce themselves. How true. One of the reasons why continuous expansion of the money supply eventually runs out of puff and inflation stalls. Just as it has for the last 10 years or so. In the end, we have to produce stuff. I'll have to leave it there and there are many gaps but I don't want to write a 200 page essay.

Hence when I used the term adopted i followed it with the qualification of "kinda"

 

[T.S Quint]

I’m sure this would be an interesting discussion if I could understand it.

 

[hindy111]

More likely is they replaced other new things. The older things tend to keep going.

Are you talking about Gronk and Twizzle?

 

[Poupou Escobar]

Those merkins don't stop til they get enough.

 

[Gary Gutful]

They should keep it in the closet.

 

[Hollywood Jesus]

If they don't then they may end up in a Jam.

 

[Gronk]

Somebody is worried.

 

[Twizzle]

I can see him not wanting to vacate the WH is he loses the election, he'll dragged out kicking and screaming.