NationStates

The motivation to start off this thread comes mainly out of my need to spill takes on econ/business/finance somewhere -- failing to do so here mainly because 90% of the threads seem to talk about culture war -- as well as incidentally generating some discussion and debate regarding the dismal science that has been otherwise scattered across the board. Any themes tangent to economics, business and finance are open to talk, including quips and whatnot (although, for the love of God, don't turn this into a capitalism vs socialism warzone if you can).

Might eventually post some references to contents like podcasts, sites, books and blogs which talk about the fields cited above in the OP if this gets going, else I'm just gonna pretend that it never existed

I remember your old posts in the Global Economics and Trade (forum) help desk. I'll be watching this thread with interest.

Great Minarchistan wrote:(although, for the love of God, don't turn this into a capitalism vs socialism warzone if you can)

Since Capitalism and Socialism are both economic systems. This type of fight is bound to happen here.

Thinking about starting this off with some curious findings on the roaring twenties and the leadup to the great depression regarding mortgage debt and residential building activity. Everything seems to suggest that easy credit policy practiced by the Federal Reserve post-WW1 generated a homeownership boom (akin to that of the 1990s-2000s) of large proportions, with the curious caveat that real property prices didn't budge. That's rather interesting, wondering if zoning regs back then v. today have anything to do with it and if the post-1995 home price boom (which we still experience nowadays) is to blame on regulatory environment either.

Yohannes wrote:I remember your old posts in the Global Economics and Trade (forum) help desk. I'll be watching this thread with interest.

I suppose this market is illiquid enough to raise your interest rates even further

LiberNovusAmericae wrote:

Great Minarchistan wrote:(although, for the love of God, don't turn this into a capitalism vs socialism warzone if you can)

Since Capitalism and Socialism are both economic systems. This type of fight is bound to happen here.

I just hope it doesn't happen tbh, trying to design this as a place where people can discuss policymaking, theory and current events instead of flinging shit on economic philosophy down to the crudest level possible

Great Minarchistan wrote:

LiberNovusAmericae wrote:Since Capitalism and Socialism are both economic systems. This type of fight is bound to happen here.

I just hope it doesn't happen tbh, trying to design this as a place where people can discuss policymaking, theory and current events instead of flinging shit on economic philosophy down to the crudest level possible

Economic philosophy - for better or worse - effects policy making, unless one is truly a non-ideological pragmatist. Socialist theory for example is why Venezuela imposed price controls and is establishing communes.

LiberNovusAmericae wrote:

Great Minarchistan wrote:I just hope it doesn't happen tbh, trying to design this as a place where people can discuss policymaking, theory and current events instead of flinging shit on economic philosophy down to the crudest level possible

Economic philosophy - for better or worse - effects policy making, unless one is truly a non-ideological pragmatist. Socialist theory for example is why Venezuela imposed price controls and is establishing communes.

There's a difference in discussing, say, the FTPL and labor vouchers vs. "USSR was socialist" "nuh uh, it was capitalist"

Great Minarchistan wrote:

Yohannes wrote:I remember your old posts in the Global Economics and Trade (forum) help desk. I'll be watching this thread with interest.

I suppose this market is illiquid enough to raise your interest rates even further

Heh

Yohannes wrote:

Great Minarchistan wrote:

I suppose this market is illiquid enough to raise your interest rates even further

Heh

Sorry, couldn't miss that opportunity to crack an unfunny econ joke :behehe:

A question, if you will-What gives something value?

Kowani wrote:A question, if you will-What gives something value?

People saying it has value. Granted, the rarity of a mineral or material adds to its value but value is a human generated concept. As far as the inanimate rock called earth is concerned, value isn't real

Our paper money has value because everyone accepts it as payment for goods and services. You have faith that said piece of paper will gain you things. If people stopped accepting dollar bills tomorrow, they would be nothing but paper. They don't hold some sort of God given value

Kowani wrote:A question, if you will-What gives something value?

Market demand for a good, generally. Although I'm rather interested on whether book value differs too much from market value across the production chain.