...right

If you talk to economists about that, they’ll know exactly what you mean

Do you understand what I mean or do you need clarification?

Clarify

Ok, Chicago school is sort of the heart of neo-Austrian economics

Keynesian economics with regard to he Great Depression means providing job programs regardless of necessity, in order to provide demand for the market

Do you understand that?

Keynesian is good

Sure,
> Ok, Chicago school is sort of the heart of neo-Austrian economics
This is a word salad

Ok, so you don’t understand that?

There are little remaining of "schools" since the Lucas critique

You’re unfamiliar with Chicago school?

Lol

You’re adorable.

Finish your Econ degree honey

Then come back to the big boys table

That sounded kinda condescending

Yeah, he’s a high schooler who’s read a book

I'm familiar, but there's nothing with 'schools' anymore.

When he learns the subject matter he can debate in earnest

r

https://en.m.wikipedia.org/wiki/Dunning–Kruger_effect @Sophie

This is you.

Lol

That’s an amusing thing for the person with less education to send

But maybe you only thought you understood the effect 😉

Looks like the stock market hadn’t stabilized, it was just responding to expectations of a rate cut

What vindication for anyone who said we need a few days more data

Weird.

The stock market fell when the fed cut rates

> That’s an amusing thing for the person with less education to send

https://en.m.wikipedia.org/wiki/Dunning–Kruger_effect

@Sophie this is pretty much peak dunning Kruger effect. You’re assessing your economics as if you have a large depth of understanding, however when talked about: price controls, supply and demand, “capitalism”, “Keynesian economics”, new deal and corporate taxation for examples - there is no understanding.

...

You misapplied the theory

This is absolutely peak dunning Kruger

You’ve taken some economics

So you think the theories you understand apply universally as you understand them

But if you go back to our price control discussion, you can see clearly

You keep wanting to take it back to the theory, but are unable to synthesize outcomes for the specific situation

We can go ahead and revisit it if you’d like- what keeps the firm in question from producing the full level of need?

A price max applied below the equilibrium results in lower supply but higher demand. That’s a shortage. The firm is producing less to compensate the reduction in profits.