Primes and Squares

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flawr

9:58 AM

Why You Don't Own Your Tech

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even though it is coming from college humour, it is a rather sad video containing an aweful lot of truth

4 hours later…

PhiNotPi

2:24 PM

@NathanMerrill No I don't really think just riding bubbles is the best economic policy.

Keynesian economics

Keynesian economics ( KAYN-zee-ən; sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy). In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy; instead, it is influenced by a host of factors and sometimes behaves erratically, affecting production, employment, and inflation.Keynesian economics developed during and after the Great Depression, from the ideas presented by John Maynard...

In general there's always a lot of political pressure put by people on the government to ride the waves (as in "the economy is growing, so cut taxes so it can grow faster") but as far as I can tell governments should really be doing the opposite: stimulus packages, low taxes, and low interest rates when the economy is bad, and increased taxes when the economy is doing good.

The point being that, in recessions when people aren't willing to spend money, the government steps in to provide the "demand" that the economy is lacking. This results in governments having a budget deficit during recessions, and they need a budget surplus in bubbles.

El'endia Starman

> "the economy is growing, so cut taxes so it can grow faster"

The problem is, as always, that people are short-sighted.

PhiNotPi

2:49 PM

My main criticism of recent major tax cuts (which haven't really brought many benefits to the lower class anyways) is "how will we afford to pay for the next recession?"

I think these modern recessions are having different effects on different demographics than, say, the great depression. Because what happened in 2008 is that a major fraction of those who graduated college during those few years missed the boat on the economy... not many high-paying jobs available when they graduated, but then when the economy recovered there were younger graduates to fill those spots instead of them.

El'endia Starman

3:08 PM

On a completely different note, I just found out that this subreddit is a thing: r/specializedtools.

flawr

3:23 PM

@El'endiaStarman yep:)

and in case you like airplanes: /r/WeirdWings/

1 hour later…