by
Jaron Lanier
143
Markets and Energy Landscapes
1
terms
1
notes
Laffer curve
(en)
a theory developed by supply-side economist Arthur Laffer to show the relationship between tax rates and the amount of tax revenue collected by governments (a typically conservative theory that believes that too much taxation will depress business investment)
149
This is the Laffer curve, which was promoted by one late 20th century president, Ronald Reagan, and ridiculed by another, George H. W. Bush, as "voodoo economics."
omg i'm pretty sure the graph here is UPSIDE DOWN
notable
7 years, 2 months ago
This is the Laffer curve, which was promoted by one late 20th century president, Ronald Reagan, and ridiculed by another, George H. W. Bush, as "voodoo economics."
omg i'm pretty sure the graph here is UPSIDE DOWN
notable
7 years, 2 months ago
152
Keynes was an unapologetic financial elitist and had no interest in a quest for income equality or a planned economy. He simply sought a mechanism to get stuck markets unstuck. No one has proposed an alternative to his idea of a stimulus. The enduring nuisance is that someone has to guess about exactly how and when to aim a stimulus kick; this is just another way of saying you can't have science without scientists.
I ... don't know if I would agree, from having read Economic Possibilities for our Grandchildren + various secondary sources on Keynes, but maybe Lanier's just trying to make him more palatable for the conservatives in his audience?
this passage is situated in a larger musing on local maximums and the complicated, risky ways we can get out of them and on to higher equilibrium points (which is relevant)
Keynes was an unapologetic financial elitist and had no interest in a quest for income equality or a planned economy. He simply sought a mechanism to get stuck markets unstuck. No one has proposed an alternative to his idea of a stimulus. The enduring nuisance is that someone has to guess about exactly how and when to aim a stimulus kick; this is just another way of saying you can't have science without scientists.
I ... don't know if I would agree, from having read Economic Possibilities for our Grandchildren + various secondary sources on Keynes, but maybe Lanier's just trying to make him more palatable for the conservatives in his audience?
this passage is situated in a larger musing on local maximums and the complicated, risky ways we can get out of them and on to higher equilibrium points (which is relevant)