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The Six Paths of Pain

MisterMittens
Posts: 3,660
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9/16/2015 1:51:41 PM
Posted: 1 year ago
Disclaimer: I don't know whack about economics.
Welp.
Here we go!

***The Six Paths of Pain to becoming an economist***
Step 1: Understand all economics Jargon and related principles (warning! Includes math!)
Step 2: Research, read and understand the economic propositions and ideals of as many other economists as you can. Also history. Lots and lots of history. Basically, if you hate reading, econ is probably not for you. <3
Step 3: Keep updated on current economic situations and issues (so that you can write about it)
Step 4: Take a side or even create your own position(s). Then write & publish it. Lace it with the econ jargon that you learned in step 1 because a) you gain credibility with fellow econ nerds and b) you impress the plebes who don't understand wtf you're saying. (But seriously. Not everyone will be as well-versed in econ as you are (basically every politician), so learn to communicate your ideas to non-econ people *cough* Joey *cough*)
Step 5: Get some university degrees because you know this shet.
Step 6: Get a job. Congrats. You're an economist. :>
I'm handsome. Whoever disagrees with me can go die in a deep, dark hole.
ResponsiblyIrresponsible
Posts: 12,398
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9/16/2015 2:49:33 PM
Posted: 1 year ago
At 9/16/2015 1:51:41 PM, MisterMittens wrote:
***The Six Paths of Pain to becoming an economist***
Step 1: Understand all economics Jargon and related principles (warning! Includes math!)

Lol, lots of math... embrace the pain.

Step 2: Research, read and understand the economic propositions and ideals of as many other economists as you can. Also history. Lots and lots of history. Basically, if you hate reading, econ is probably not for you. <3

Unless you're Paul Krugman, in which case you make an effort to *only* read people who agree with you (or, for that matter, history that agrees with you).

Step 3: Keep updated on current economic situations and issues (so that you can write about it)

Yup. This is the fun part, though.

Step 4: Take a side or even create your own position(s). Then write & publish it. Lace it with the econ jargon that you learned in step 1 because a) you gain credibility with fellow econ nerds and b) you impress the plebes who don't understand wtf you're saying. (But seriously. Not everyone will be as well-versed in econ as you are (basically every politician), so learn to communicate your ideas to non-econ people *cough* Joey *cough*)

Lmfao. I'm working on it.

Step 5: Get some university degrees because you know this shet.

^^^^^^

Step 6: Get a job. Congrats. You're an economist. :>

Normally this is when most people say, "profit!" The problem is, the PhD probably costs more than the PV of the lifetime salary.
~ResponsiblyIrresponsible

DDO's Economics Messiah
MisterMittens
Posts: 3,660
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9/16/2015 8:52:21 PM
Posted: 1 year ago
At 9/16/2015 2:49:33 PM, ResponsiblyIrresponsible wrote:
At 9/16/2015 1:51:41 PM, MisterMittens wrote:
***The Six Paths of Pain to becoming an economist***
Step 1: Understand all economics Jargon and related principles (warning! Includes math!)

Lol, lots of math... embrace the pain.
Ye. I always knew econ peeps were masochists.

Step 2: Research, read and understand the economic propositions and ideals of as many other economists as you can. Also history. Lots and lots of history. Basically, if you hate reading, econ is probably not for you. <3

Unless you're Paul Krugman, in which case you make an effort to *only* read people who agree with you (or, for that matter, history that agrees with you).
Lol. Y u hate Paul Krugman?
http://krugman.blogs.nytimes.com...

Step 3: Keep updated on current economic situations and issues (so that you can write about it)

Yup. This is the fun part, though.
I can imagine. It sounds just like writing debate arguments.

Step 4: Take a side or even create your own position(s). Then write & publish it. Lace it with the econ jargon that you learned in step 1 because a) you gain credibility with fellow econ nerds and b) you impress the plebes who don't understand wtf you're saying. (But seriously. Not everyone will be as well-versed in econ as you are (basically every politician), so learn to communicate your ideas to non-econ people *cough* Joey *cough*)

Lmfao. I'm working on it.
You'd better. If I were to become the POTUS, I'd be riding on degrees of law and politics. I'm going to know jack squat about econ, and I'm gonna need people like you to lay it out for me in a way that I can understand before I do something like motion to raise the minimum wage to $15/hr because goddamnit real wages don't match up with inflation!!!
!!
!

Step 5: Get some university degrees because you know this shet.

^^^^^^

Step 6: Get a job. Congrats. You're an economist. :>

Normally this is when most people say, "profit!" The problem is, the PhD probably costs more than the PV of the lifetime salary.
Private and public grants ftw. :>
And what the heck is PV?
I'm handsome. Whoever disagrees with me can go die in a deep, dark hole.
ResponsiblyIrresponsible
Posts: 12,398
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9/16/2015 9:00:28 PM
Posted: 1 year ago
At 9/16/2015 8:52:21 PM, MisterMittens wrote:
At 9/16/2015 2:49:33 PM, ResponsiblyIrresponsible wrote:
At 9/16/2015 1:51:41 PM, MisterMittens wrote:
***The Six Paths of Pain to becoming an economist***
Step 1: Understand all economics Jargon and related principles (warning! Includes math!)

Lol, lots of math... embrace the pain.
Ye. I always knew econ peeps were masochists.

We have to be, lol.

Step 2: Research, read and understand the economic propositions and ideals of as many other economists as you can. Also history. Lots and lots of history. Basically, if you hate reading, econ is probably not for you. <3

Unless you're Paul Krugman, in which case you make an effort to *only* read people who agree with you (or, for that matter, history that agrees with you).
Lol. Y u hate Paul Krugman?
http://krugman.blogs.nytimes.com...

I actually just read that piece a few hours ago, strangely.

I don't hate him, but he's *really* gone down the rabbit hole in recent years. He used to be extremely thoughtful--and in some cases he still is--but now he's immersed himself in political hackery (that's his entire column) to such his degree that he's actively making intellectually-dishonest outbursts that actively ignore the academic literature in order to suit political ends. In other words, he's acting not like an academic, but a political strategist, and it irks me greatly when political strategists cast their "the world is black and white" view on things they don't understand, foremost amongst them economic policy.

When Krugman does it, he makes it seem like it's okay for other sanctimonious, pseudo-economist dipsh1ts, like Robert Reich, to join in. And that benefits literally no one, sans the emotional comfort it grants some people who *think* they're smarter than others as Reich tells them their worldview is not only right, but opposed only by people bought out by the Kochs.

/end rant

I've gotten a lot more conservative lately....Jesus. Must be a sign of me growing up.

Step 3: Keep updated on current economic situations and issues (so that you can write about it)

Yup. This is the fun part, though.
I can imagine. It sounds just like writing debate arguments.

Exactly!

Step 4: Take a side or even create your own position(s). Then write & publish it. Lace it with the econ jargon that you learned in step 1 because a) you gain credibility with fellow econ nerds and b) you impress the plebes who don't understand wtf you're saying. (But seriously. Not everyone will be as well-versed in econ as you are (basically every politician), so learn to communicate your ideas to non-econ people *cough* Joey *cough*)

Lmfao. I'm working on it.
You'd better. If I were to become the POTUS, I'd be riding on degrees of law and politics. I'm going to know jack squat about econ, and I'm gonna need people like you to lay it out for me in a way that I can understand before I do something like motion to raise the minimum wage to $15/hr because goddamnit real wages don't match up with inflation!!!
!!
!

Lol, don't get me started on this one. The second you say "$15 MW" I'll be running for the hills.

Step 5: Get some university degrees because you know this shet.

^^^^^^

Step 6: Get a job. Congrats. You're an economist. :>

Normally this is when most people say, "profit!" The problem is, the PhD probably costs more than the PV of the lifetime salary.
Private and public grants ftw. :>

If only it were that simple...

And what the heck is PV?

Present value. I'm valuing cash flows in today's terms. If I put a dollar under my mattress tomorrow, it's not worth the same today as it would be one year by now: it depreciated in value, not only because of inflation, but also because of the *opportunity cost* of what I could've done with that dollar -- namely, invested it, in which case my opportunity cost is the nominal interest rate.

If I just added up forty years worth of salaries and compared it to five years of my PhD, I'd be ignoring time value of money. As one of my favorite finance professors of all time once said, that might be okay for marketing--and I'd add for politics as well--but it's not for finance or economics.
~ResponsiblyIrresponsible

DDO's Economics Messiah
ColeTrain
Posts: 4,306
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9/16/2015 9:03:51 PM
Posted: 1 year ago
I don't hate him, but he's *really* gone down the rabbit hole in recent years.

I guess he joined you? ;)
"The right to 360 noscope noobs shall not be infringed!!!" -- tajshar2k
"So, to start off, I've never committed suicide." -- Vaarka
"I eat glue." -- brontoraptor
"I mean, at this rate, I'd argue for a ham sandwich presidency." -- ResponsiblyIrresponsible
"Overthrow Assad, heil jihad." -- 16kadams when trolling in hangout
"Hillary Clinton is not my favorite person ... and her campaign is as inspiring as a bowl of cottage cheese." -- YYW
ResponsiblyIrresponsible
Posts: 12,398
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9/16/2015 9:05:16 PM
Posted: 1 year ago
At 9/16/2015 9:03:51 PM, ColeTrain wrote:
I don't hate him, but he's *really* gone down the rabbit hole in recent years.

I guess he joined you? ;)

Lmfao.

Touche'.
~ResponsiblyIrresponsible

DDO's Economics Messiah
ColeTrain
Posts: 4,306
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9/16/2015 9:05:53 PM
Posted: 1 year ago
At 9/16/2015 9:05:16 PM, ResponsiblyIrresponsible wrote:
At 9/16/2015 9:03:51 PM, ColeTrain wrote:
I don't hate him, but he's *really* gone down the rabbit hole in recent years.

I guess he joined you? ;)

Touche'.

I've been waiting for that one. ;P
"The right to 360 noscope noobs shall not be infringed!!!" -- tajshar2k
"So, to start off, I've never committed suicide." -- Vaarka
"I eat glue." -- brontoraptor
"I mean, at this rate, I'd argue for a ham sandwich presidency." -- ResponsiblyIrresponsible
"Overthrow Assad, heil jihad." -- 16kadams when trolling in hangout
"Hillary Clinton is not my favorite person ... and her campaign is as inspiring as a bowl of cottage cheese." -- YYW
ResponsiblyIrresponsible
Posts: 12,398
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9/16/2015 9:06:20 PM
Posted: 1 year ago
At 9/16/2015 9:05:53 PM, ColeTrain wrote:
At 9/16/2015 9:05:16 PM, ResponsiblyIrresponsible wrote:
At 9/16/2015 9:03:51 PM, ColeTrain wrote:
I don't hate him, but he's *really* gone down the rabbit hole in recent years.

I guess he joined you? ;)

Touche'.

I've been waiting for that one. ;P

lol, congratulations.
~ResponsiblyIrresponsible

DDO's Economics Messiah