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Old 12-27-2019, 10:45 AM
 
3,645 posts, read 1,003,759 times
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The Year in Bad Economic Ideas:

1. The Green New Deal. The plan misunderstands climate complexity just as much as Sanders’ billionaires narrative misunderstands the economy. But most frustratingly, supporters present a 12-year doomsday clock and then pile on a wishlist of not-even-remotely-related progressive policies.

2. Hipster Antitrust. Self-proclaimed New Brandeisians focus on a host of non-traditional metrics for antitrust (competition). The economists behind the recent Utah Statement recommend numerous specific changes to regulation and legal doctrine, but what emerges is vast discretionary power for regulators and a rubber stamp for courts.

3. Breaking Up Big Tech. Big tech's ascent reframes old issues, such as whether network effects that make bigger social platforms more valuable to consumers mitigate concerns over market power. Reevaluating the consumer welfare standard for the 21st century should be an “intellectual feast” for antitrust economists, but has instead become a potent political rallying cry invoking fear of the unknown and the incessant scapegoating of big corporations.

4. Billionaire Tears. When candidates and their backers propose financially harming billionaires, the next question must be “who is helped, and how?” Is the debate about taxation and policy, over which fair minds can disagree, or merely envy?

5. New Tech, Old Jobs. Of course, the "gig" economy is really about matching small buyers and sellers. It has created unprecedented numbers of contract-work opportunities. California’s new crackdown on contract work may do the most harm by foreclosing opportunities that would only be revealed as technology and the labor market continued to co-evolve.

6. Bitcoin Maximalism. Bitcoin maximalists believe the original blockchain technology will, must, and should become all the money everyone uses. While not perfectly overlapping, Bitcoin maximalism carries whiffs of “libertarians” who want the government out of the way so they can be the ones in charge.

7. Elizabeth Warren. Warren wants to run the private sector. Her staggering number of plans, several dozen and growing, would make her a Tyrant King and give her administration unprecedented discretionary power over the corporations and wealthy individuals she incessantly demonizes. One could certainly see private wealth having the last laugh with countless new points of entry to the levers of government power. Warren has repeatedly stunned economists with her hubris this year as she produces plan after plan that indicate she thinks the right person just needs to tell companies what to do.

8.National Conservatism. Of course, capitalism and conservatism don’t actually go hand in hand. Capitalism is a force for constant change in society through bottom-up evolutionary means that while messy offer sounder guidance than central planning. Libertarians have repeatedly made the mistake that right-populists also want small government. They don’t. They want to be the government.
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Old 12-27-2019, 11:04 AM
 
1,998 posts, read 491,139 times
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You forgot to add the Fed's renewed Quantitative Easing in the form of $100s of billions of dollars being pumped into the repo markets, renewed treasury purchases of $60 billion per month, and record balance sheet expansion over the duration of the past 3 months. All for the "greatest economy ever."
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Old 12-27-2019, 11:18 AM
 
4,184 posts, read 3,406,827 times
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Worst economic idea of the year: running a budget deficit of almost a trillion dollars
2nd worse: continuing the pointless trade wars
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Old 12-27-2019, 11:23 AM
 
1,998 posts, read 491,139 times
Reputation: 3060
Quote:
Originally Posted by 1insider View Post
Worst economic idea of the year: running a budget deficit of almost a trillion dollars
2nd worse: continuing the pointless trade wars
#3 - Trump demands "the greatest" negative interest rates ever.

Because everyone knows that negative rates = greatest economy ever.
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Old 12-27-2019, 11:35 AM
 
Location: Chicago area
9,194 posts, read 13,796,912 times
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Worst ideas:
Slavery reparations-seriously you had to resurrect this stupid idea Dems? A Russian immigrant in Minneapolis has to pay higher taxes so that a Sudanese immigrant from 1994 can get a check because of the color of their skin?

Free college tuition/student loan forgiveness: Pay trillions so every 18 year old can get an economically worthless liberal arts degree?

Govt worker pensions an old idea that should have been phased out like the private sector and federal govt. We tax people out of their homes to give govt workers exorbitant retirements while taking away from taxpayers trying to fund their 401k's

Socialism in general: Has anyone been watching Venezuela, North Korea etc. The only people who have their situation bettered by socialism are the party bosses themselves and their cronies.

Open borders: the entire poverty stricken world population can come to the US with no language or other economically valuable skills and bankrupt our social welfare programs? Including criminals and people with a hostile view of western civilization and freedoms.
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Old 12-27-2019, 12:41 PM
 
Location: Cole Valley, CA
360 posts, read 157,368 times
Reputation: 715
Quote:
Originally Posted by MSchemist80 View Post
Worst ideas:
Slavery reparations-seriously you had to resurrect this stupid idea Dems? A Russian immigrant in Minneapolis has to pay higher taxes so that a Sudanese immigrant from 1994 can get a check because of the color of their skin?

Free college tuition/student loan forgiveness: Pay trillions so every 18 year old can get an economically worthless liberal arts degree?

Govt worker pensions an old idea that should have been phased out like the private sector and federal govt. We tax people out of their homes to give govt workers exorbitant retirements while taking away from taxpayers trying to fund their 401k's

Socialism in general: Has anyone been watching Venezuela, North Korea etc. The only people who have their situation bettered by socialism are the party bosses themselves and their cronies.

Open borders: the entire poverty stricken world population can come to the US with no language or other economically valuable skills and bankrupt our social welfare programs? Including criminals and people with a hostile view of western civilization and freedoms.
That's a pretty good list. I'd probably add one or two of the OP's bullet points as well.
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Old 12-27-2019, 01:36 PM
 
3,645 posts, read 1,003,759 times
Reputation: 6373
Quote:
Originally Posted by MSchemist80 View Post
Worst ideas:
Slavery reparations-seriously you had to resurrect this stupid idea Dems? A Russian immigrant in Minneapolis has to pay higher taxes so that a Sudanese immigrant from 1994 can get a check because of the color of their skin?

Free college tuition/student loan forgiveness: Pay trillions so every 18 year old can get an economically worthless liberal arts degree?

Govt worker pensions an old idea that should have been phased out like the private sector and federal govt. We tax people out of their homes to give govt workers exorbitant retirements while taking away from taxpayers trying to fund their 401k's

Socialism in general: Has anyone been watching Venezuela, North Korea etc. The only people who have their situation bettered by socialism are the party bosses themselves and their cronies.

Open borders: the entire poverty stricken world population can come to the US with no language or other economically valuable skills and bankrupt our social welfare programs? Including criminals and people with a hostile view of western civilization and freedoms.
Great minds think alike.
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Old 12-27-2019, 02:43 PM
 
2,737 posts, read 2,239,494 times
Reputation: 6674
Quote:
Originally Posted by 1insider View Post
Worst economic idea of the year: running a budget deficit of almost a trillion dollars
2nd worse: continuing the pointless trade wars
Why is there such a budget deficit with Trump's great economy?
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Old 12-27-2019, 03:23 PM
 
996 posts, read 604,643 times
Reputation: 888
Quote:
Originally Posted by MSchemist80 View Post
worthless liberal arts degree?
Don't you have a liberal arts degree?
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Old 12-27-2019, 03:40 PM
 
2,737 posts, read 2,239,494 times
Reputation: 6674
Quote:
Originally Posted by Mr.Hospitality View Post
Don't you have a liberal arts degree?
Judging from the posts in the past about difficulty finding a job, I am thinking the degree is in 8 track player repair.
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