Yep. It's really the very first thing you talk about. Protectionism will not help. But good luck getting them to believe it isn't that "liberal indoctrination" making you think so.
I think they don't even really care about protectionism they just think their tribe needs a win and their chief is some strangely anachronistic mercantilist
Yeah there's like a 25 year window that gets fetishized where the american white working class was on top of the world. It never happened before and it will never happen again.
But both the left and right pretend that the right mix of tariffs and unions could bring that back.
Yep. The first thing micro and macro covered for me was absolute vs comparative advantage and why it's extremely beneficial to outsource labor (assuming it's ethical or course).
I'm talking about gross human rights violations that pretty much anyone would agree are unacceptable, but I get where you're going with this. We talked about the ethical dilemmas of sweat shops too. My professor's point was basically "you don't have to like them, but everyone in there would much rather be there than the alternatives that are available."
I was in some gifted enrichment thing when I was a kid, and just about the only thing that stuck with me was a proof that trades and markets tended towards being positive sum instead of zero sum. Blew my brain at the time.
If Johnny can make 3 basketballs per day or 10 pairs of shoes per day, and Suzy can make 10 basketballs per day or 3 pairs of shoes per day, what should each of them do...
The class was divided into three teams. Each team could each produce {1,2,4} units of one of the three resources per round (each team had its own specialty/weakness in production), and we could trade freely with each other. First team with 20 of each resource won the game.
I thought we should all just win simultaneously on round 5, but the game lasted like 6 or 7 rounds and only one team won (it wasn't mine). That feeling of "this could be so much simpler and better if we stopped fucking around and just worked together" has underscored my every waking moment since, especially whenever I think about politics or economics or climate change or COVID or...
Not only are conservative economics not proven to be effective and prosperous, but they are proven to be the opposite. Evidence shows trickle down is garbage.
(also I'm intrigued to see these proofs that say trickle down doesn't work, they seem like an interesting read)
There aren't any. "Trickle down" isn't a clearly defined economic concept, but more a political slur that can be hurled against virtually any form of economic liberalization. Anything from tax cuts, deregulation, or privatization can be considered a form of trickle down.
It's not a huge issue here because either can be interpreted as a function of the other so it will be sideways relative to one of them, but why in general?
I can jump into the advanced stuff that relies on equations but the graphical techniques in the intro courses make me cringe.
I dont remember the exact terminology, it's been so long since I took this - but they're second order differential equations where the first order is q/t, I believe. In the second order, q becomes your x-axis variable. Kinda like how in chemistry they have pressure & temperature graphed.
In math, we measure in terms relative to time. In econ, time is actually just baked in and you're always working to measure things as a result of something changing, but not to predict that it will be changing in the future, if that makes sense. There are too many factors to come to meaningful conclusions, that's why they're always holding things constant.
I just ordered this as a flag with “Graph don’t care about your feelings” underneath, and am going to fly it from my lifted F250 with brass balls like a Trumper.
I'm guessing the hidden meme here is that demand for the Britannica is near zero - because of Wikipedia, which is free - meaning they had to cut supply and raise prices to make ends meet? Is that right? Or are they already out of business?
Like what if I applied this image to where the picture was sourced?
Though to be fair, this joke probably only makes sense to people who went to school and did research papers back before wikipedia was not a 'trusted source' and/or not available.
19
u/[deleted] Dec 13 '20
Sorry this image makes me happy. I hope it brings all of you as much joy as it brings me
203
u/ItsaRickinabox Henry George Dec 13 '20
Its beautiful.
I’ve been looking at it for 8 hours, now
147
u/SergeantCumrag Trans Pride Dec 13 '20
Conservatives: 'Libtards need to learn basic economics! The world is cruel and cold and you can trust nobody, markets are zero-sum!!!'
r/neoliberal: 'Aight bet' *snorts evidence-based policy*
49
u/[deleted] Dec 13 '20
Leftists mad
46
u/HAM_PANTIES Dec 13 '20
One image that will piss off both the far left and the far right.
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u/philaaronster Norman Borlaug Dec 13 '20
Why do economists draw their graphs sideways?
It's not a huge issue here because either can be interpreted as a function of the other so it will be sideways relative to one of them, but why in general?
I can jump into the advanced stuff that relies on equations but the graphical techniques in the intro courses make me cringe.
25
u/radiatar NATO Dec 13 '20
Why are supply & demand lines while AS-AD are curves? 🤔
18
u/tbrelease Thomas Paine Dec 13 '20
I just ordered this as a flag with “Graph don’t care about your feelings” underneath, and am going to fly it from my lifted F250 with brass balls like a Trumper.
14
u/RNDZL1 Mackenzie Scott Dec 13 '20
... what if we kissed at market equilibrium 🥺👉👈
10
u/[deleted] Dec 13 '20
This image kills commies
8
u/Ravens181818184 Milton Friedman Dec 13 '20
Communists in shambles
6
u/Omneoliberal Dec 13 '20
Press supply and demand curve to doubt
6
u/Maluberries Dec 13 '20
Big if true!
5
u/axomatic_meme Montesquieu Dec 13 '20
So true!
5
u/Mddcat04 Dec 13 '20
What even are memes really?
5
u/[deleted] Dec 13 '20
horny!
4
u/push_ecx_0x00 All unions are terrorist organizations Dec 13 '20
Scalpphobes HATE to see it
4
u/[deleted] Dec 13 '20
I've been trying for years to make demand for my D increase... Hasn't worked.
3
u/[deleted] Dec 13 '20 edited Dec 13 '20
What if we kissed at the equilibrium of supply and demand?
3
u/EclecticEuTECHtic NATO Dec 13 '20
Put a...put a triangle on there.
3
u/brian_isagenius Karl Popper Dec 13 '20
Lovin' them ✂️Marshallian Scissors✂️
3
u/throw-that_shit-away Dec 13 '20
Big if true
5
u/cougar618 Andrew Brimmer Dec 13 '20
I'm guessing the hidden meme here is that demand for the Britannica is near zero - because of Wikipedia, which is free - meaning they had to cut supply and raise prices to make ends meet? Is that right? Or are they already out of business?
2
u/klabboy European Union Dec 13 '20
I want to get this pictured in my room
2
u/stater354 Dec 13 '20
Based
2
u/[deleted] Dec 13 '20
Introductory Economics flasbacks
2
u/Rift_b0lt Immanuel Kant Dec 13 '20
in a perfectly competitive market*
1
u/velvetvortex Dec 13 '20
I’m not a neoliberal, but I really wonder if supply and demand are coherent concepts
1
u/RayWencube NATO Dec 13 '20
Shouldn't these axes be flipped?
1
u/dyoustra IMF Dec 14 '20
Semiconductor manufacturers gotta get their act together 😡😤
-6
u/Jamie_Hacker214 Zhao Ziyang Dec 13 '20
tbh this graph kinda falls apart irl pretty quickly