I don't believe leading economists didn't see this coming. Even if they didn't originally, it's been clear now, for decades.
This is the system working as intended, making government spending easy and gradually worsening poor's people lives.
This is the system working as intended, making government spending easy and gradually worsening poor's people lives.
As you reject ignorance (which I applaud), what knowledge is that based on?
That's the SV fantasy!: I'm awesome and a super-genius, everyone else is useless, dumb and annoying, and therefore I should be all-powerful!. It's like they're all still 13 year olds hacking on their computers, where they finally feel really powerful. It's almost as if they've never learned anything more about the world - humanities are just entertainment for the wealthy - leaving themselves vulnerable to the most obvious self-deception.
One might say that technology and innovation have turned our world into a hellscape, with massive social and political breakdown, massive mis/disinformation, and climate change. Maybe some innovation can build us new supersonic jets, better oil extraction, more effective automated online persuasion, or some snazzy financial tech - like CDOs, crypto, and private equity.
On the other hand, our political institutions did an amazing job of getting the US through a global pandemic without even a recession. There are serious problems, such as housing and education prices, but I don't think anyone could have predicted how well things went economically.
> On the other hand, our political institutions did an amazing job of getting the US through a global pandemic without even a recession. There are serious problems, such as housing and education prices, but I don't think anyone could have predicted how well things went economically.
Just wait lol ..
Feel free to laugh, if that's what makes you happy.
Technology is how we got a vaccine so quickly.
Technology is how we tracked the spread. Technology is how we notified of potential exposure.
Nobody with a humanities background did anything meaningful to help compared to the last pandemic. It was all technology, engineering, medicine, and science that let us approach this one differently.
If you learned a bit about it, you wouldn't show off rigid tunnel vision or you might express yourself clearly and without the blind destruction of hyperbole.
Why did people make or not make vaccines? Humanities (and social science). How were they funded, regulated, etc.? Ditto. What is the scientific method? Humanities (really). Why did the US and EU as expected, but not, e.g., Russia make the most effective vaccines? Humanities. Why did people take or not take vaccines? Humanities, or not enough humanities, or they were owned by people who mastered messaging and mass political communication, which is humanities.
The scientific method is philosophy, but the majority of humanities never go anywhere near the scientific method other than to convince themselves that doing a qualitative oral survey of some classmates is just as much a “science” as the falsifiable ones.
> Why did people take or not take vaccines? Humanities,
The failure of humanities to produce any meaningful predictive behavior of humans is a pretty good example of why it’s a failed branch of inquiry.
> mastered messaging and mass political communication, which is humanities.
The people who have done this are completely outside of the grasp of the humanities taught in US universities. Every Ivy League economist, sociologist, social psychologist, etc that was in US leadership for the last 20 years has done nothing but flounder.
> Since 1963, inflation has risen 896%, while housing prices have risen by more than 2,350%.
> For example, between 1984 and 2021, home prices in Massachusetts rose by 469.89% while incomes increased by 221.10%.
ETC, ETC
https://www.investopedia.com/ask/answers/correlation-inflati...
Zone more land for denser development, and you will see the rents and home prices fall, or at least stagnate. That is why people started building skyscrapers immediately after reasonably developed lift technology was available.
"Education, healthcare" ... depends on the country involved, plus the extent of healthcare you can now get is vastly bigger due to scientific progress. Forty years ago, HIV infection was a death sentence and most cancers too.
It would be impossible to house homeless in vacant houses. Sellers and landlords would never accept it because would make it hard to find people. The short-term rentals would be hard to mange, not good for the homeless to always be moving, and easily go wrong. Is the government going to compensate for damages? For delayed moving into new house? It is almost certainly cheaper to build the homeless housing.
Inflation is a killer for the poor and most of the middle class - and a boon for the wealthy (who own appreciating assets) - everyone I know who is not wealthy enough to not care, is feeling it.
I trust the data, and the data shows their lives are better. If you don't trust the data, it's impossible to know.
So we can say wages have increased to keep up with inflation, but left out is all the money lost during the time lag before wages caught up. And whose wages caught up? If you use average wages, then you can hide the details. You really need to look at different income levels, or at least the median wage and the inflation experienced for that median person, bare minimum.
Prop 98 in 1988 shifted funding away from UC and CS systems towards community colleges. The UC system went from about 6% of the budget to a bit over 2%.
That amounts to a loss of ~$15,000 per student in today's dollars.
Notably, minimum wage in California has increased faster than inflation since 1984.