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Old 10-11-2018, 09:16 PM
 
7,312 posts, read 8,149,428 times
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Quote:
Originally Posted by lieqiang View Post
Congrats, you managed to say something false within the first ten words of your post.
That too.
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Old 10-12-2018, 05:14 AM
 
4,371 posts, read 5,296,499 times
Reputation: 4361
Quote:
Originally Posted by reneeh63 View Post
No, it sounds like someone having to describe a very complicated thing to an audience who wouldn't have a clue what it was so they had to make something general up.

Why do people with less knowledge assume everything they don't understand is a scam?
I donít understand your post, but it sounds like a scam to me!
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Old 10-12-2018, 05:43 AM
 
Location: DFW - Coppell / Las Colinas
29,978 posts, read 34,607,289 times
Reputation: 36003
Old is picking up a Playboy back in the day and seeing the centerfold was born after you graduated from college.

Now that's old but I still looked.
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Old 10-16-2018, 04:15 PM
 
Location: Silicon Valley
2,792 posts, read 1,226,623 times
Reputation: 5122
Quote:
Originally Posted by EDS_ View Post
It's not a scam. Romer's work quantifies the value of technological innovations in terms of current and future value plus it helps quantify the value of multiple overlapping technologies. His work impacts everything from inflation analysis to GDP forecasting.

ETA -Romer also has posited and forcefully argued against a new widely held ethos in macroeconomics that interest rate management and money policy broadly do not have much of an effect on economies. Romer has more or less gone to war with 90% of academic macroeconomics and his is unquestionably correct.

https://paulromer.net/wp-content/upl...WP-Trouble.pdf

I, for one, find it fascinating. Thanks for sharing. I'd love to read an actual smart person that's looked into this.



Historically speaking, all in personal opinion, I think it has been overlooked that the value of innovation has been masked by capital. If he's come up with a way to start to quantify that, it would be amazing. Whether we look at productivity increases from the plow, freeing up innovation in other areas, banking, industrial revolution, mass production etc...certainly a degree of capital is needed to allow for the market to take risks, but if a business is worth doing because it's disruptive, the interest rate will matter less than overall availability, and trade barriers will determine the size risk/reward pot being sought. Interest rates are better used for curbing non-innovative consumption and reckless wastes of capital going to non-productive areas.
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Old 11-03-2018, 03:56 PM
 
370 posts, read 151,357 times
Reputation: 204
Quote:
Originally Posted by SportyandMisty View Post
I used to admire as elders the many professors who've won Nobel Prizes in Economics. I've read many of the significant papers they've written, and I've even studied under a few.

Today Paul Romer and William Nordhaus won the Nobel Prize in Economics. I never studied under either, but I've reached the age where I remember Paul in a class we took together in grad school (I think he did much better than I did in that class).

I'm getting old.
The "Nobel Prize in Economics" does not exist.
There is the Bank of Sweden prize in economics, which they call "Nobel Prize". Do you feel the difference?
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Old Yesterday, 11:54 PM
 
5,614 posts, read 4,222,415 times
Reputation: 10588
Thankfully we live in America where the most ignorant opinion is valued equally with knowledge, where everyone has a equal say even when they make no effort to learn about the subject. I especially like to stop by and read some of the comments on the Economics Forum. No knowledge is ever needed or imparted.
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