THE chief economist. undergrad studying the reflected-sound-of-underground-spirits. โneoliberal sociopathโ and "market idolator"
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Joined October 2022
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A Dismal Optimist ๐จ๐ฆ ๐ฌ๐ช retweeted
Two stages of research:
1) I think Iโm onto something
2) oh no
A state with a one-time tax that works has a very strong incentive to implement it again; people know this and so it is not a credible promise, and so it doesnโt make sense to think the state will implement a successful tax only once.
Either the tax is annual โ and in that case it generates revenue annually, and some billionaires leave.
Or the tax is one-time โ in that case it generates revenue in just one year, and there is no incentive to leave.
It canโt be both at the same time.
Readers added context they thought people might want to know
Billionaires can leave based on beliefs the one-time tax signals future annual ones, even if it stays one-timeโyielding lost income taxes without annual wealth revenue. This models uncertainty, a standard approach.
nber.org/papers/w35899
lao.ca.gov/BallotAnalysisโฆ
A Dismal Optimist ๐จ๐ฆ ๐ฌ๐ช retweeted
Maybe ******* ****** just used the minimization operator instead of the maximization one. Common mistake.
A Dismal Optimist ๐จ๐ฆ ๐ฌ๐ช retweeted
A useful philosophical dictionary for beginners:
โข Axiologically: very
โข Essentially: very
โข Fundamentally: very
โข Inherently: very
โข Innately: very
โข Intrinsically: very
โข Metaphysically: very
โข Objectively: very
โข Ontologically: very
โข Universally: very
A Dismal Optimist ๐จ๐ฆ ๐ฌ๐ช retweeted
As promised, my new blog post is "The French Revolution Confounded." You can see the basic problem with Acemoglu et al.'s study in this figure. The wild cluster bootstrap is not kind to it.
thepoorrichworld.substack.coโฆ
A Dismal Optimist ๐จ๐ฆ ๐ฌ๐ช retweeted
Skipping class to work on an assignment for another class.
A Dismal Optimist ๐จ๐ฆ ๐ฌ๐ช retweeted
7yo: So they only made three Star Wars movies and never made any more?
Me: Yes exactly
