Nobel Economic Prize is a giant "Fuck You" to AJ

[RobDownSouth]

For more years than I can count, our Lit glibertarian AJ has opined that economics wasn't a "real" science, because there were too many variables to model. Instead, he pushed the Von Mises institute propaganda that "Economics cannot be measured, so the person that yells the loudest is teh winner".

The Nobel Prize in Economics was awarded today to three economists who categorically disputed the Von Mises claptrap. David Card, Joshua Angrist and Guido Imbens for proving a novel theory postulated by Professor Alan Kreuger, who died in 2019 (Nobel does not award prizes posthumously).

The novel theory? "Facts matter".

They measured changes in state economic policies NOT in traditional "before and after" modeling. Instead, they chose to look at similar demographics in adjoing states to measure the success or failure of a government policy.

For example, noted shitposter Ishmael screeched for almost two decades that raising the minimum wage would directly lead to less employment. Guess what? Ishmael was wrong...the econsomist measure the economy and job grownth in adjacent states and found that raising the minimum wage had virtually no effect on job growth.

More recently, they applied their model to states who curtailed unemployment benefits early post-Covid relief. Guess what? A statistically insignificant difference in overall employment rates in virtually all stats in all employment areas when compared against states that kept Covid benefits going.

Nobel 1, MAGA 0

https://www.nytimes.com/2021/10/11/opinion/nobel-prize-economics.html

 

[WillJ8787]

For more years than I can count, our Lit glibertarian AJ has opined that economics wasn't a "real" science, because there were too many variables to model. Instead, he pushed the Von Mises institute propaganda that "Economics cannot be measured, so the person that yells the loudest is teh winner".

The Nobel Prize in Economics was awarded today to three economists who categorically disputed the Von Mises claptrap. David Card, Joshua Angrist and Guido Imbens for proving a novel theory postulated by Professor Alan Kreuger, who died in 2019 (Nobel does not award prizes posthumously).

The novel theory? "Facts matter".

They measured changes in state economic policies NOT in traditional "before and after" modeling. Instead, they chose to look at similar demographics in adjoing states to measure the success or failure of a government policy.

For example, noted shitposter Ishmael screeched for almost two decades that raising the minimum wage would directly lead to less employment. Guess what? Ishmael was wrong...the econsomist measure the economy and job grownth in adjacent states and found that raising the minimum wage had virtually no effect on job growth.

More recently, they applied their model to states who curtailed unemployment benefits early post-Covid relief. Guess what? A statistically insignificant difference in overall employment rates in virtually all stats in all employment areas when compared against states that kept Covid benefits going.

Nobel 1, MAGA 0

https://www.nytimes.com/2021/10/11/opinion/nobel-prize-economics.html

It is fairly funning that folks think raising the minimum wage will shut down business.

It's just ideological propaganda (anything not ending up.in my pocket must be bad for business).

 

[CornusKousa]

Oh look, leftist circle jerk about a leftist circle jerk.


What about the partisan leftist prize???

Oh yea, it's shits on nothing.

 

[zipman]

Lol, When aren't A_J and Ish wrong?

 

[Rightguide]

For more years than I can count, our Lit glibertarian AJ has opined that economics wasn't a "real" science, because there were too many variables to model. Instead, he pushed the Von Mises institute propaganda that "Economics cannot be measured, so the person that yells the loudest is teh winner".

The Nobel Prize in Economics was awarded today to three economists who categorically disputed the Von Mises claptrap. David Card, Joshua Angrist and Guido Imbens for proving a novel theory postulated by Professor Alan Kreuger, who died in 2019 (Nobel does not award prizes posthumously).

The novel theory? "Facts matter".

They measured changes in state economic policies NOT in traditional "before and after" modeling. Instead, they chose to look at similar demographics in adjoing states to measure the success or failure of a government policy.

For example, noted shitposter Ishmael screeched for almost two decades that raising the minimum wage would directly lead to less employment. Guess what? Ishmael was wrong...the econsomist measure the economy and job grownth in adjacent states and found that raising the minimum wage had virtually no effect on job growth.

More recently, they applied their model to states who curtailed unemployment benefits early post-Covid relief. Guess what? A statistically insignificant difference in overall employment rates in virtually all stats in all employment areas when compared against states that kept Covid benefits going.

Nobel 1, MAGA 0

https://www.nytimes.com/2021/10/11/opinion/nobel-prize-economics.html

The Nobel Prize has been totally politicized by Woke Swedish elitists and others. Today it has about as much Gravitas as a Twitter blue check. We realized this when the Academy awarded the Nobel Peace Prize to Barack Obama for doing absolutely nothing except winning an election and opening the door of America to the subversion of international Communism. All of which probably allowed Rob to exchange his boot-scootin’ Texas boogie for the the more regimented goose step we see him heel hammerin' his way through the threads with today.

 

[WillJ8787]

Oh look, leftist circle jerk about a leftist circle jerk.


What about the partisan leftist prize???

Oh yea, it's shits on nothing.

Ah, the king of ad hominem returns....maybe make it into a movie....chuckles.

 

[WillJ8787]

The Nobel Prize has been totally politicized by Woke Swedish elitists and others. Today it has about as much Gravitas as a Twitter blue check. We realized this when the Academy awarded the Nobel Peace Prize to Barack Obama for doing absolutely nothing except winning an election and opening the door of America to the subversion of international Communism. All of which probably allowed Rob to exchange his boot-scootin’ Texas boogie for the the more regimented goose step we see him heel hammerin' his way through the threads with today.

Nice, non-answer.

 

[Comshaw]

For more years than I can count, our Lit glibertarian AJ has opined that economics wasn't a "real" science, because there were too many variables to model. Instead, he pushed the Von Mises institute propaganda that "Economics cannot be measured, so the person that yells the loudest is teh winner".

The Nobel Prize in Economics was awarded today to three economists who categorically disputed the Von Mises claptrap. David Card, Joshua Angrist and Guido Imbens for proving a novel theory postulated by Professor Alan Kreuger, who died in 2019 (Nobel does not award prizes posthumously).

The novel theory? "Facts matter".

They measured changes in state economic policies NOT in traditional "before and after" modeling. Instead, they chose to look at similar demographics in adjoing states to measure the success or failure of a government policy.

For example, noted shitposter Ishmael screeched for almost two decades that raising the minimum wage would directly lead to less employment. Guess what? Ishmael was wrong...the econsomist measure the economy and job grownth in adjacent states and found that raising the minimum wage had virtually no effect on job growth.

More recently, they applied their model to states who curtailed unemployment benefits early post-Covid relief. Guess what? A statistically insignificant difference in overall employment rates in virtually all stats in all employment areas when compared against states that kept Covid benefits going.

Nobel 1, MAGA 0

https://www.nytimes.com/2021/10/11/opinion/nobel-prize-economics.html

In 2017 Washington state raised its minimum wage to $11.00 an hour. There was an immediate outcry that it would increase unemployment. Also businesses close to the Idaho and Oregon borders screamed that they would lose customers who would go to the adjoining state to save money because the minimum wage was less. After a few months those voices went silent. Why? Because none of that gloom and doom came to pass. Unemployment stayed steady and businesses along the borders saw no decrease in customers. Bullshit is bullshit and facts are facts.

Comshaw

 

[Rightguide]

Nice, non-answer.

Did somebody ask me a question? My post was a simple observation on the credibility of the Nobel Prize of today, and a momentary commentary on the possible evolution of what should have been a plain ol' Texas Two Step into the North Korean style, heel hammerin' goose step, we see Rob grinding up the norms of civility with today.

 

[LukSkyFokker]

The Nobel Prize has been totally politicized by Woke Swedish elitists and others. Today it has about as much Gravitas as a Twitter blue check

45 was devastated when he lost it and he's begged and pleaded to Twitter to reinstate him.

 

[Rightguide]

In 2017 Washington state raised its minimum wage to $11.00 an hour. There was an immediate outcry that it would increase unemployment. Also businesses close to the Idaho and Oregon borders screamed that they would lose customers who would go to the adjoining state to save money because the minimum wage was less. After a few months those voices went silent. Why? Because none of that gloom and doom came to pass. Unemployment stayed steady and businesses along the borders saw no decrease in customers. Bullshit is bullshit and facts are facts.

Comshaw

A simple search revealed dozens of articles proving you and the rest of the ignorant clowns to be full of shit, as usual:

https://www.washingtonpolicy.org/publications/detail/more-jobs-lost-due-to-a-15-minimum-wage

 

[RobDownSouth]

A simple search revealed dozens of articles proving you and the rest of the ignorant clowns to be full of shit, as usual:

https://www.washingtonpolicy.org/publications/detail/more-jobs-lost-due-to-a-15-minimum-wage

Elle Oh Elle, Gunny Shitpants.

Your pearl clutching link foresees dooooooom 'n glooooom because some Wendy's are replacing counter staff with order kiosks.

The assumption is that headcount will decrease.

But hoooo-hah! Teh devil's it teh details. Fast forward five years later: Front counter help DOES decrease but kiosks make ordering more efficient so more people show up and back end fry cooks and shake jockleys are needed. net result is virtually no change in staffing numbers.

 

[pecksniff]

The Nobel Prize has been totally politicized by Woke Swedish elitists and others. Today it has about as much Gravitas as a Twitter blue check. We realized this when the Academy awarded the Nobel Peace Prize to Barack Obama for doing absolutely nothing except winning an election and opening the door of America to the subversion of international Communism. All of which probably allowed Rob to exchange his boot-scootin’ Texas boogie for the the more regimented goose step we see him heel hammerin' his way through the threads with today.

Obama's Peace Prize was a really a prize awarded to the American people for rejecting the Republicans, and we deserved it just for that.

 

[WillJ8787]

A simple search revealed dozens of articles proving you and the rest of the ignorant clowns to be full of shit, as usual:

https://www.washingtonpolicy.org/publications/detail/more-jobs-lost-due-to-a-15-minimum-wage

When everyone tells you that you are incorrect and you still refuse to accept it....they call that a "delusion of grandeur".

 

[CornusKousa]

Ah, the king of ad hominem returns....maybe make it into a movie....chuckles.

Not even close.

And why? Leftist circle jerks aren't all that interesting.

 

[Bud_Spencer]

Obama's Peace Prize was a really a prize awarded to the American people for rejecting the Republicans, and we deserved it just for that.

I just know you'd be the very last Politburo member to stop clapping for Comrade Stalin.

 

[pecksniff]

I just know you'd be the very last Politburo member to stop clapping for Comrade Stalin.

RG said something about "opening the door of America to the subversion of international Communism" -- but Obama had 8 years and none of that ever happened.

 

[Rightguide]

Elle Oh Elle, Gunny Shitpants.

Your pearl clutching link foresees dooooooom 'n glooooom because some Wendy's are replacing counter staff with order kiosks.

The assumption is that headcount will decrease.

But hoooo-hah! Teh devil's it teh details. Fast forward five years later: Front counter help DOES decrease but kiosks make ordering more efficient so more people show up and back end fry cooks and shake jockleys are needed. net result is virtually no change in staffing numbers.

Jobs have been lost, by the thousands because of the Minimum Wage law. It's a fact. You don't like it because it is a fact.

 

[CornusKousa]

RG said something about "opening the door of America to the subversion of international Communism" -- but Obama had 8 years and none of that ever happened.

Happening now and started before he left office.

 

[CornusKousa]

Obama's Peace Prize was a really a prize awarded to the American people for rejecting the Republicans, and we deserved it just for that.

Making the Nobel prize a total fucking joke as Obama proceeded to become POTUS "Drone Strike", a POTUS and party who expanded the PATRIOT act so he could summarily execute US citizens by labeling them terrorist.

But Trump is the REAL fascist because he said some man pig shit back in the 70's and 80's.

 

[pecksniff]

Happening now and started before he left office.

Don't you get it? There is no "international Communism" any more. There is only national Communism. It has died out as an international force. The Cubans no longer send troops to back Communist rebels in Africa. The only international forces now in the field are business corporations.

 

[Rightguide]

When everyone tells you that you are incorrect and you still refuse to accept it....they call that a "delusion of grandeur".

When everyone telling me I'm incorrect is economically ignorant like you and those on the American left, there is no delusion at all, just the simple reality of your pitiful lack of education and economic awareness. I'll say it again. jobs have been lost.

 

[RobDownSouth]

Jobs have been lost, by the thousands because of the Minimum Wage law. It's a fact. You don't like it because it is a fact.

Cite, please.

p.s. "Errybody knows that....!" is NOT a cite.

 

[CornusKousa]

Don't you get it? There is no "international Communism" any more. There is only national Communism. It has died out as an international force. The Cubans no longer send troops to back Communist rebels in Africa. The only international forces now in the field are business corporations.

That doesn't mean folks aren't pushing for their rebranded version of it.

 

[pecksniff]

That doesn't mean folks aren't pushing for their rebranded version of it.

Actually, it does. Nothing in the furthest-left reaches of American politics now constitutes a rebranded version of Communism.