chumali

7 ms·

1.
by chumali 6y ago
If you are referring to the Fed repo market operations, then these are short-term collateralised loans, so not really the same thing as pumping trillions in to the real economy. A fiscal stimulus of that size would almost certainly drive de
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The Dismal Kingdom – Do Economists Have Too Much Power?(foreignaffairs.com)
1 points by chumali 7y ago|0 comments
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by chumali 7y ago
Matt Levine recently summarised this argument is his usual folksy style: https://www.bloomberg.com/opinion/articles/2019-12-02/the-bl...
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by chumali 7y ago
The Cantillion effect describes a phenomena of relative inflation due to the uneven distribution of new money and access to credit. This doesn't really translate to "a flow of wealth from working classes and savers to the bankers
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by chumali 7y ago
To be clear, I am in no way advocating the view that it is "inevitable that everything in banking/finance will move to a decentralized model" . Financial institutions, although not perfect, serve many function which would no
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by chumali 7y ago
To dismiss something as 'meaningless utopianism' just because it doesn't agree with your personal experience is incredibly naive and shortsighted. There are plenty of legitimate reasons for wanting a decentralised alternative
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by chumali 7y ago
Can't see how Ungar could have acted any differently here given the betting by Matloubi?
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A new app could help you recall important memories(1843magazine.com)
1 points by chumali 7y ago|0 comments
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by chumali 7y ago
> You also have to fill the card to begin with. Any bank card works, so does Apple/Android pay. Even the prepaid card can be purchased from a self-service machine in less than a minute and topped up via an app. > There are surely
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by chumali 7y ago
Fare collection in London is almost frictionless. Almost all public transport can be paid for with contactless debit/credit or prepaid cards. Drivers have no requirement to verify fares and all stations have self-service terminals. Alt
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by chumali 7y ago
Have you even bothered to check the figures? You mention Oyster cards so I'll assume you're talking about London in which case the operator (TfL) clearly states that "Fares are the single largest source of our income (project
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by chumali 7y ago
> Why would they be? Because their position is naive and lacks any serious economic or political justification. Even assuming that their beliefs are sincerely held, this would not be the correct course of action to go about inciting chan
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by chumali 7y ago
It's true that travel should not be reserved for the wealthy. At the same time however travel is no different to most other non-essential commodities and should be similarly allocated via the price mechanism. Given that the supply of d
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by chumali 7y ago
This is a ridiculous argument, Amazon clearly has substantial market power which can be used to reduce the exposure of their suppliers [1] (the loss in exposure means there a significant costs associated with suppliers moving to another pla
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by chumali 7y ago
This is an arbitrary definition that few economists would accept. Market concentration exists on a spectrum ranging from perfect competition to full scale monopoly. The determinant is the ease of entry and exit and the extent to which the o
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by chumali 7y ago
This is one of the worst attempts at an unbiased analysis of the issue that I've ever come across. Nothing of value can be garnered from this article. Clearly Albania, a country with per capita GDP less than a tenth of the US is not a
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by chumali 7y ago
> decided to stop being a wealthy stock broker to live as a painter He lost everything after the 1882 market crash and eventually moved to Tahiti to pursue the allure of the 'free-spirited and noble savage'. Whilst there he too
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by chumali 7y ago
Until Citizens United is repealed there is little hope for anything resembling the arrangement which you describe.
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by chumali 7y ago
It's a combination of reasons present to different degrees depending on the nation in question. These include: The political fallout of allowing these industries to fail (coal production and power generation make up a large portion of
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by chumali 7y ago
Please don't read Climate vs. Capitalism, the author has no formal economics training and her analysis makes this clear. Rather than realistic and thought out solutions towards decarbonisation - like those suggested by the Intergovernm
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by chumali 7y ago
1) For a concise and non technical introduction to issues of monetary economics I would suggest Alan S. Blinder - Central Banking in Theory and Practice. 2) For an introduction to macroeconomic principles you can try Cores free online textb
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by chumali 7y ago
This is just a broad list of econ type books with no discernible curation. I certainly wouldn't call it a list of the 'best' econ books even though there are some great reads in there. It ranges from very specific works on ce
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by chumali 7y ago
The LTSE wants to give startups all the benefits of being public whilst encouraging long-termism through tenured voting and other gimmicks. It seems that Zuckerberg has already achieved this however by retaining voting rights. That hasn&#x2
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by chumali 7y ago
Neither are perfect monopolies, however to deny that they wield significant monopoly power is patently absurd. Monopoly power is not simply an issue of consumer choice - there are considerations around prices, coercion, competitive barriers
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by chumali 7y ago
Clearly there are equilibrium effects here which would stop the extreme scenario you describe from arising. As the proportion of active investors in the market falls, those that remain enjoy a greater advantage. There will therefore always
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by chumali 7y ago
Corporation taxes are arguably as/more regressive than those on consumption, depending on who you believe ultimately pays them (capital owners/workers). It can be argued that they fall equally on the rich and poor. For example, if
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by chumali 7y ago
Warrens premise is that college should be treated in the same manner as the public school system and be made free to all. Whilst her aims are noble, the economic rationale is weak and there are better ways of achieving the goals making high
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by chumali 7y ago
This isn't quite true and you've pretty much identified the reason why. Academics are not investors and their objective isn't to profit but to publish their research. Academics identify a pattern that generates superior risk-
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by chumali 7y ago
Daniel Miller is not the author of this piece. It is in fact Umair Haque, who (although I agree with the overarching point of this particular thesis) tends to churn poorly reasoned pseudo economic drivel designed purely for mass appeal.
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by chumali 7y ago
Many points to dispute here. > America is where most of the innovation, cultural, and political power is. American innovation has largely been a byproduct (European refugees, cold war spending, deregulation) and not a deliberate result o

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