2 years ago: The three-step test for inflation

March 30, 2011, on this blog: The three-step test for inflation

Conveniently, there’s a simple three-step test to find out if inflation worries are founded or unfounded.

Step 1: March into your boss’ office. Don’t bother making an appointment, just open the door, walk in and tell him to listen up because you’re in charge here.

Step 2: Inform your boss of the substantial amount of the raise you will be receiving and that this figure is not optional.

Step 3: When your boss blinks in shock at the large figure you just quoted, remind your boss that you have plenty of options. Remind him that you could easily find another, better-paying job by late afternoon. Remind him that in this job market your boss knows very well that he would be hard-pressed to find anyone who could possibly replace you — that you have all the power in this negotiation and he has no choice but to do what you demand.

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  • AnonaMiss

    Preach!

  • http://twitter.com/lesterhalfjr Chris Hadrick

    inflation doesn’t mean the economy is good. and specific costs have gone up drasticaly. Health care costs are much much higher than they were a decade ago.

  • LoneWolf343

    Inflation is an increase in the price level, which is a general measure of all prices. You can’t say “well, over here prices are increasing, therefore inflation” because inflation doesn’t work that way.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    I realize that. wages don’t stick to inflation either though. You can have high inflation and high unemployment, as we all know. or low inflation and rising wages. This inflation test makes no sense.

  • LoneWolf343

    Inflation has been pretty normal for the past few years, except for numbers of 4-5% in 2008 and negative inflation is 2009. See for yourself: http://inflationdata.com/inflation/Inflation_Rate/CurrentInflation.asp

  • http://twitter.com/lesterhalfjr Chris Hadrick

    the past few years have been pretty absurd, monetarily. We had gas at 5 dollars a gallon in mid 08 then at under 2 dollars in late 08. So what we have now are basically normal ridiculous boom era prices. gas is like 3.75 a gallon. That would have been unheard of pre housing bubble.

  • LoneWolf343

    …Actually, there was a huge spike in gas prices just before the housing bubble popped. It lead some to argue that the high gas prices cause the bubble to pop.

    Oh, and you’re citing specific prices again. Inflation doesn’t work that way.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    oil is a pretty major specific price. all measures of inflation have flaws. The governments stats take out food and gas which are the things that have been going up the most. market forces affect all goods but gold, for example, isn’t 5 times more scarce than it was in 2000.

    prices should have been going DOWN since the 90’s not up, that’s another discussion I guess though.

  • LoneWolf343

    Or, perhaps that even considering their volatility, inflation has not been affected significantly. Trying to cite these things as proof that inflation is going out of control, when the people that track it say it isn’t, is not unlike saying that a cold day disproves climate change. You CLEARLY aren’t informed enough to be in this discussion, so, start here: http://www.clevelandfed.org/forefront/2011/spring/ff_2011_spring_11.cfm

  • http://twitter.com/lesterhalfjr Chris Hadrick

    clearly someone who disagrees with you is not informed enough to dialogue with you. Look, the author of the post implied that wages were directly totally connected to inflation and they aren’t.

    I’m not saying we are currently in an inflationary crisis that is being masked somehow. We’ve exported a lot of it.

  • LoneWolf343

    If someone disagrees with me that the earth is round, then yes, he is uninformed. Not specifically because he’s disagreeing with me, but he’s disagreeing with an easily verifiable fact that I happen to be stating. My involvement in the disagreement is merely an accident.

    As for the link between wages and inflation, here you go: http://www.usatoday.com/story/money/personalfinance/2013/02/01/jan-jobs-investors-analysis/1881047/ If you need it condensed for you, inflation tends to increase when job markets are good because employees have bargaining power. If the job markets are bad, then employees lose their marketing power, which means they’re stuck with low wages, which means that they will spend less, and when they spend less, inflation slows.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    in the 70s there was very high inflation and also high unemployment

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    Yes, but even by that standard that’s pretty modest compared to the total Charlie Foxtrot Zimbabwe went through, or for that matter post-WW2 Japan or Hungary in 1946 and 1947.

  • LoneWolf343

    You mean…there are other factors to inflation than just wages?

    HEY EVERYONE! I just found out that the economy is extremely complex, inter-dependent system that relies of an abundance of factors for its health, some of which we don’t even know! This means what we do know is 100% wrong!…or something.

    Or maybe you’ll figure out that anecdotal evidence is not valid. I’m not holding my breath for that.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    so if you had done the inflation test the author is talkoing about in the 70’s you would have been fired and would have to take a much worse job if you could even find one. 70’s had high inflation and and unemployment, 80’s had high employment and low inflation.

    We had almost no inflation during the industrial revolution yet employment skyrocketed. economic growth doesn’t cause inflation,.

  • LoneWolf343

    They didn’t even keep track of that stuff during the industrial revolution. You are REALLY BAD at this.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    the gold price was the same 20 dollars.

    and again, 70s had high inflation and unemployment and 80’s had low low. The topic starter is using a variation of the Phillips Curve which I doubt even Paul Krugman would defend post staglation

  • LoneWolf343

    “the gold price was the same 20 dollars.

    How many times do I have to say this? INFLATION DOESN’T WORK THAT WAY!

  • http://twitter.com/lesterhalfjr Chris Hadrick

    see edit

  • LoneWolf343

    Seeing lots of 0%, which means the data is incomplete, and unusable.

    But, that’s to be expected from someone who doesn’t have the most fundamental grasp on what inflation is.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    no o percent means it didn’t move up or down.

  • LoneWolf343

    And if you knew anything about inflation, you would know how unlikely that would be.

  • P J Evans

    It was $35 an ounce for a long, long time.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    correct http://1.bp.blogspot.com/-P3quEkimnPs/TdBkDSiujFI/AAAAAAAADR8/miD5yrNJkRY/s1600/Gold_1833_1999.gif

    ^gold price from 1833 to 1999. it is 1700 is now.

    which matches up pretty closely with the money supply

    http://static.seekingalpha.com/uploads/2011/9/18/1011535-131635775039218-Amine-Bouchentouf_origin.jpg

    gold was actually overvalued when it was in the 300 range moreso than now relative to that.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    Health care costs going up =/= the generalized fall in the value of money.

  • http://twitter.com/FearlessSon FearlessSon

    Heath care costs have gone up, but that does not follow that therefor inflation is the cause.

    Look at healthcare costs in relationship to everything else. All things being equal, inflation should cause costs to go up across the board relatively evenly. Instead, we see much higher costs in some areas than we do in others.

    Incidentally, part of the issue with health care is that it is a service which fundamentally does not act the way most goods and services do in a completely free market. There is not much opportunity for consumers to shop around, not much incentive to drive costs down. Some form of price-control is necessary to keep it from causing the rest of the market to stagnate because it does not play by the same rules.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    those price controls have worked FABULOUSLY

  • LoneWolf343

    What price controls? He just said that they don’t exist, so there have been no controls to either fail or succeed in their goals.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    I thought he was implying there were

  • http://twitter.com/FearlessSon FearlessSon

    I was implying that there were not price controls in place in the American health care market, at least not until recently.

    In a free market, customers can price-shop, comparing to find the ratio of best goods and services to the prices that they are willing to pay, and these social forces will in turn pressure the market toward a certain “sweet spot” between pricing and quality, so goes the theory of capitalism. Generally speaking, this theory works in practice more often than not, and a lot of wealth gets generated by its application.

    However, healthcare is one of those goods/services which does not fit into the theory as neatly as other markets. For example, when someone gets a broken leg, they generally do not have the opportunity to shop around and find the best prices on getting their legs set. You know, on account of their leg being broken. To use an analogy, imagine you could only fill the gas tank on your car once you had burned off all of the gas currently in the tank and your gas tank meter is broken so you do not even know when that will be. You would not have the opportunity to shop around for better gas prices, you would have to use whatever station was closest to your car when it ran out of gas. You can see how, if everyone was in that situation, the market forces of supply and demand would cause the price to creep up.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    Our healthcare system stinks and the AHCA won’t fix it. We had a debate about this once. I was talking about how my bee sting kit cost 180 something dollars or something (it did come with 2 though). Everyone yelled at me for complaining about the price but my point was the price made no sense. it doesn’t cost that much to make a syringe thing with stuff in it. They used to be like 20 bucks.

    We need to get these products to where they are priced rationally and proceed from there.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    I wish it was the late 1990s again. :| Or the 1960s.

  • http://twitter.com/FearlessSon FearlessSon

    I was in high school in the late nineties. I was on track to go to college, get a computer science degree, and join the information revolution. That is what the American Dream promised me if only I applied myself.

    I got out of school and the market said “Haha, sucker, you fell for it!”

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    Must’ve hit the job market right when the dot-com crash hit. Before then I was hearing about some McD’s paying kids out of highschool $8 US an hour.

    And people were getting ridiculous wages like this one Oracle guy I knew who pulled $100k a year for a while. And all he has was some book knowledge and a venture capitalist willing to throw money at anything.

  • P J Evans

    I think I hit *all* of the wonderful downturns.

  • http://twitter.com/FearlessSon FearlessSon

    I kind of hit after it plateaued. I was just in the market, but before I could get much experience under my belt and transition from contract to full time work, the downturn hit, hiring departments froze, and both contracts and full time work became hard to come by. What contracts were available usually went to previously full-time people who had a good decade more experience than I did, and most of them were the first in line for new full time hires when those became available.

    At least now that the economy is picking back up my odds are looking better, especially since I used these doldrums to go back for some additional education. Hopefully when I graduate in the summer some opportunities will be waiting for me.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    http://www.youtube.com/watch?v=kXpwAOHJsxg

    Is a college degree worth it? field study

  • dxmachina

    Depression is a choice. Steve Randy Waldman: But the preferences of developed, aging polities — first Japan, now the
    United States and Europe — are obvious to a dispassionate observer.
    Their overwhelming priority is to protect the purchasing power of
    incumbent creditors. That’s it. That’s everything. All other
    considerations are secondary.
    These preferences are reflected in what
    the polities do, how they behave.

    Fear of inflation drives that choice.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    you could have a very rich person who owes a ton of money and a very poor person who is thrifty and responsible. The idea that there is a class of creditors is silly.

  • EllieMurasaki

    Wait, so significant numbers of people to whom money is owed are poor?

  • http://twitter.com/lesterhalfjr Chris Hadrick

    there are significant numbers of poor people who do not owe money and rich people who do.

    No, there are probably not many poor people who are creditors. This whole conversation is offensive. The idea that having a stable currency is bad because it discourages borrowing is …doofy.

  • EllieMurasaki

    Either there are significant numbers of poor people to whom money is owed, or effectively all the people to whom money is owed are rich–one might say, of the creditor class.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    No because most people do not owe great sums of money OR owe money to people.

  • EllieMurasaki

    [citation needed]

  • http://twitter.com/lesterhalfjr Chris Hadrick

    even if it was just one person it would be the same principle. currency isn’t a thing you raise and lower at will, it’s supposed to be a stable reliable medium of exchange.

  • EllieMurasaki

    That doesn’t answer the question of, who are these ‘most people’ who don’t have credit card debt and or student loan debt or mortgage debt or any debt at all?

  • http://twitter.com/lesterhalfjr Chris Hadrick

    http://research.stlouisfed.org/fred2/data/PSAVERT.txt

    savings rate used to be 10 percent. note the downward trajectory, right around the time Greeenspan began at Fed mid 80’s

  • LoneWolf343

    He is almost right. 47% of people have no wealth anymore, meaning that their debts exceed their assets.

    But, those people are the lowest section of society.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    and what about senior citizens. those greedy 90 year olds on fixed incomes have no heart I guess. don’t care about the poor people who bought SUVs and houses they couldn’t afford.

  • LoneWolf343

    What do you think that 47% is made of?

  • phantomreader42

    You’ve made it abundantly clear that you don’t actually care about anyone or anything but yourself, and sometimes not even that. You obviously don’t care about reality, because you live in your own delusions.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    Ellie- me

  • EllieMurasaki

    You. One single person. Are ‘most people’.

    Nope. Go look up the percentage of the country with credit cards, the percentage with mortgages, the percentage with student loans, the percentage with other forms of debt, and then tell me most people aren’t indebted.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    People used to save. Why don’t they anymore? Would you agree that generally speaking saving is good? I mean the squirrel demonstrates this to us with his nut hoarding habits does it not?

    We had a much better fairer economy and a much higher savings rate in the past going way back. It’s common sense. What upended common sense is our weird inflationary monetary policy. It’s happening now. How much are you making in your savings account? like a percent or something? They are trying to drive us to speculation / consumerism etc

  • EllieMurasaki

    People save money when they have excess money to save.

    Part of the reason that is not the case is that the almighty free market has uncoupled wages from productivity. Part of the reason is that the almighty free market has created a great deal of crap and a great deal of advertising and a great deal of pressure to buy the crap. Part of the reason is that the almighty free market has decreed that many of us shall not have income exceeding basic living expenses, or income AT ALL.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    The almighty free market created the prosperity in the first place.

    look http://research.stlouisfed.org/fred2/data/PSAVERT.txt

    There was plenty of advertising in 1974 but people saved at a rate much greater than they do now. No one FORCED anyone to buy and SUV they couldn’t afford with borrowed money. No one forces anyone to buy any “crap”. Don’t you write for a blog called trashy books for tall women or something? lecturing people on crap!

  • EllieMurasaki

    What the fuck are you even talking about.

    Does anyone know what the fuck he is even talking about? Closest I’ve got is Smart Bitches Trashy Books, for which I do not write. Which I don’t even read, as romance is not my genre of choice.

  • Lori

    Don’t you write for a blog called trashy books for tall women or something? lecturing people on crap!

    And IIRC you’re either a veterinarian or a bike messenger, depending on which story you’re telling. Lecturing people on crap!

    So what’s your point? If it’s that Ellie’s job, which you got wrong, invalidates Ellie’s statements then you are, once again, proving that you have no idea who to construct or evaluate an argument. This is beyond tiresome. Figure it out or go away.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    “And IIRC you’re either a veterinarian or a bike messenger, depending on which story you’re telling. Lecturing people on crap!”

    that makes no sense. Her point was society creates too much crap. I pointed to what I thought was her predilection for trashy books which could easily be catagorized as crap but are not to her. and people generally don’t take out massive loans to buy them,

    “Figure it out or go away.”

    I have figured it all out and I’m never going away

  • Lori

    I have figured it all out

    You clearly, demonstrably do not.

    I’m never going away

    And with this you end the debate on how people should deal with you. You are never going to learn and you’re never going away, so ignoring you is the best response.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    You can’t even tell the truth about your job. Why should anyone believe anything else you say?

  • http://twitter.com/lesterhalfjr Chris Hadrick

    I made a joke once i was a veterinarian. I have since restated many times I deliver packages. many many packages

  • http://anonsam.wordpress.com/ AnonymousSam

    And here I thought you were a hotelier.

  • EllieMurasaki

    You didn’t come back with the percentages of who in the US is in what sort of debt. Look them up.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    I don’t care. The principle is the same. We shouldn’t incentivize things like stock market speculation and people taking on debt for frivolous items.

  • EllieMurasaki

    You said ‘most people’ are not in debt.

    This is false.

    You need to go look up the figures, so that next time you will not say the false thing.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    How do you know it’s false?

  • EllieMurasaki

    Approximately 74.9 percent of the U.S. families surveyed in 2004 had credit cards, and 58 percent of those families carried a balance. In 2001, 76.2 percent of families had credit cards, and 55 percent of those families carried a balance. (Source: Federal Reserve Bulletin, February 2006)

    That alone proves that “most people are not in debt” is a bald-faced lie. Or will be next time you say it, since it’s possible that you really were completely uninformed.

    As for the rest, I am not your fucking Google bot.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    25 percent of families didn’t have credit cards. half of the families that did had debt. so 37 or so percent had credit card debt. Therefore the majority did not.

  • EllieMurasaki

    When did ‘most’ start meaning ‘simple majority’, not ‘supermajority’?

    Okay, let’s use your definition. How many of those people with no credit cards or no credit card balance also have no car loan, no house loan, no student loan?

    Find your facts your own fucking self.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    Again, even if it was 99 percent the principle would still be the same. you don’t incentivize debt and speculation. We’ve been living the nightmare of Greeenspan economics since the mid 80’s. You can’t paper over these problems with more liquidity.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    “incentivize”?

    Shut the fuck up. I hate that dot-com bullshit.

  • phantomreader42

    Yes, Chris, we are all well aware that you do not care about reality, you do not care if the bullshit you’re babbling has any resemblance to the truth, and you do not care who knows that you are completely full of shit.

  • http://blog.trenchcoatsoft.com Ross

    Money has no rest mass. Saving money (beyond a modest savings to cover unexpected misfortune, and distinguished in its entirety from “saving up for something”) means taking money out of circulation, removing it from where it can do good and putting it away somewhere where it no longer serves the one and only purpose that money has.

    Saving money is not some kind of abstract good.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    “Saving money is not some kind of abstract good.” ???

  • EllieMurasaki

    Money in savings is not money that is being spent. Money that is not being spent is wages that are not being paid. I disagree with Ross–savings are necessary–but once one has enough to be sure that a sudden stroke of misfortune won’t do one in for lack of savings, and if one does not have a particular spending goal in mind (vacation fund, new car fund, etc), then better to spend, loan, or give away the money.

  • http://blog.trenchcoatsoft.com Ross

    I was trying to specifically exclude setting aside something for a sudden misfortune or a fund to meet a specific goal when I disapproved of saving in the abstract.

  • EllieMurasaki

    Ah. Thank you for clarifying.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    How would banks have any money to loan if no one saved money?

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    We had a much better fairer economy and a much higher savings rate

    Iiiiiiiiiiiiii wonder why that might be.

    Could it possibly be that in the 1940s, 1950s, 1960s and 1970s there was a government in charge devoted to a broad social and political consensus that dictated, in fundamentals, that it’s better when the country grows together than for a lucky few to reap the benefits of a country’s growth?

  • http://twitter.com/lesterhalfjr Chris Hadrick

    social whatever wouldn’t affect the savings rate

  • P J Evans

    Fail.Social policies are things like making education more affordable. If education is less expensive, people don’t have as big a debt load, and can actually save money.

  • phantomreader42

    Well, Ellie, you’ve got to remember that Chris Hadrick does not live in the real world, so he is incapable of comprehending that his delusions do not magically alter reality. He apparently thinks he is the only real person who has ever existed, and all others are merely scoring tokens in some elaborate game.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    without savings there would be no money for banks to lend and no way for people to make large purchases beyond what they make in one week. It’s pretty basic why individuals and societies need savings.

  • AnonaMiss

    Um… you do know that banks aren’t limited to loaning out the money they actually have, right?

    Not arguing that savings are a bad thing. I like savings! I think the argument should be that savings don’t do anything to get the economy moving again after a recession, or to get employment up again after a big drop. While I would never argue that savings are bad, I think it’s self-evident that savings don’t employ anybody.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    banks have to have a fractional amount. the rate of savings in a society dictates the interest rates. If a lot of people have money saved rates will be lower. if people spend more the rates get higher yadda yadda. Of course the Greenspan style of interest rate lowering has destroyed this.

    Anyway yes I’m aware of how that aspect of banking works but I would disagree that saving money doesn’t employ anybody. You have to save money to start a business and other people have to save money for the bank to be able to loan you money without prohibitively high rates of interest.

    More to the point, we do not have too much savings in this society as the chart showed. savings rates were much much higher in the past.

  • phantomreader42

    So, Chris, since tax rates were significantly higher in past decades, then you agree that taxes can’t possibly be too high now…

  • http://twitter.com/lesterhalfjr Chris Hadrick

    tax rates are just one factor.

  • AnonaMiss

    The listed data shows only personal savings in the United States. Money tied up in tax shelters both foreign and corporate are not included.

  • Lori

    currency isn’t a thing you raise and lower at will, it’s supposed to be a stable reliable medium of exchange.

    Can you demonstrate that you know what this statement even means? As far as I can tell the answer is “no”.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    Lori you are so weird. All your responses to me are insults and yet I answer them so maybe I’m weird.

    How could I have made a statement and not known what it meant? Instead of bringing goats or wine to 7-11 people bring a thing called money to it and acquire goods that way. The money is the medium of exchange. To use a common example from history, gold was a popular medium of exchange. People wouldn’t or rather couldn’t water down the gold nor would they fix an arbitrary price to it (though governments could) This made it a stable and reliable medium of exchange. Any other questions, Hillary Rodham Clinton?

  • http://blog.trenchcoatsoft.com Ross

    It also made for a system where if I suddenly had the capacity to produce twice as many goats or twice as much wine, but no one had discovered a new vein of gold, then we were all fucked because the economy couldn’t grow.

    But hey, it worked out pretty darned great for the rich guy who produced nothing but had managed to get his hands on a lot of gold — suddenly there were twice as many goats on the market, but he had the same percentage of gold. So without doing anything at all, suddenly he had twice the buying power he had before. And me, who had work so hard to produce that extra wine? Well too bad, there’s no more gold in the world today than there was yesterday, so the most I can get paid for today’s wine is only half as much per barrel as I got yesterday. I shoulda just stayed in bed.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    gold was seldom if ever tossed aside because there wasn’t enough of it. We didn’t leave the gold standard for that reason.

    I was also simply illustrating what a medium of exchange and a currency were. gold was a generic example. it also wasn’t a “system”. Someone at some point decided to use it as a medium of exchange and someone else accepted it. Other people did the same for a variety of mundane reasons, it was portable, couldn’t be watered down etc

  • P J Evans

    They used to have very severe penalties for counterfeiting, too.

    We left the gold standard because the economy was too fucking big to run on gold.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    PJ – not true at all. http://en.wikipedia.org/wiki/Nixon_Shock It had nothing to do with any shortage of gold or availability of gold.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    Uh, actually it did. Nixon closed the gold window, ending the international exchange standard, because some countries were getting squirrelly and were, instead of accepting US dollars, their central banks were saying “Nuh-uh. Here’s your US dollars, we want our fucking gold.”

    You can spot the problem in about two seconds unless you think the US government could have printed gold.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    that does not reflect an under availability of gold, it shows the other countries were quite correctly concerned that their dollars were not worth what they had been worth. The “problem” was the Vietnam war and Nixon’s policies, not that the economy was expanding at such A Rapid rate that there wasn’t enough gold in the ground.

  • P J Evans

    We’d effectively been *not using gold* for a long time before that.

    Have you ever considered that some of us are over 30 and remember these things from when they happened?

  • http://twitter.com/lesterhalfjr Chris Hadrick

    PJ- that is correct. The various changes didn’t occur because the gold standard was strangling the economy as implied above.

  • Lori

    Our idea of “offensive” is clearly as ridiculous as your ideas about economics.

  • P J Evans

    I still think he needs to spend quality time with ‘economics for dummies’. It’s been more than 30 years since i took econ-for-general-ed, and *I* can tell his statements are high-grade bovine excrement.

  • EllieMurasaki

    That wouldn’t necessarily help. If someone wrote an Econ 101 text from a feminist perspective, maybe.

    Actually, if anyone encounters such a text, tell me?

  • P J Evans

    Heck, the econ text I had was so boring I passed the class strictly on the lecture notes. (The best part: listening to the instructor explain how he *totally* didn’t grade on a curve, and describing the system he used, which sounded remarkably like … grading on a curve.) At least at the level we were taking (I think it was macro) common sense can usually get you through, unless you’re one of those that believe that tax cuts increase revenue, on zero evidence whatsoever.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    Yeah, I remember doing Econ 101 type stuff and it was easy enough to repeat the dogma even though I didn’t really believe the simplified treatments.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    Ron Paul “End The Fed” is a good intro to feminist econ 101.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    Ok. This is the second time I’m gonna tell you to shut the fuck up because you do not know what the words mean that you’re even using.

  • EllieMurasaki

    Ron Paul, a feminist?

    *dies laughing*

    Hey, look what today is! HAPPY EASTER FROM JESUSMURASAKI!

    (sorry)

  • P J Evans

    Yeah, Ron Paul is about as much a feminist as Phyllis Schlafly. They *both* prefer women to stay home and silent. Because *female*.

  • http://blog.trenchcoatsoft.com Ross

    And Ron Paul’s “Women who get sexually harassed have only themselves to blame for not having no-harrassment clauses in their contract and waht about all the poor women who would WANT to give their bosses the power to harass them sexually in exchange for a higher salary” is a good intro to feminist libertarianism.

  • http://twitter.com/lesterhalfjr Chris Hadrick

    yes

  • Lori

    I’ve read parts of this one:

    http://www.amazon.com/Elgar-Companion-Feminist-Economics/dp/1840647833

    This link has some resources on feminist economics.

    http://www.unpac.ca/economy/ecofem.html#6

    There’s also a journal called Feminist Economic, but unless you have access to a university library that subscribes to it you’re not going to be able to see much of it.

    http://www.feministeconomics.org/

  • EllieMurasaki

    Thanks! I did encounter the journal, but I don’t have the $45 to subscribe.

  • http://againstjebelallawz.wordpress.com/ Enopoletus Harding

    I’m sure an inhabitant of Zimbabwe in 2008 would not be able to pass this test.

  • http://apocalypsereview.wordpress.com/ Invisible Neutrino

    *blatant shamless plugging of EoA writeups.* :)


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