How would Sherdog fix the economy?

[shitpostmodern]

As an economics student, I'm curious what my fellow sherdoggers would do to fix the current economy if they were placed in a "benevolent dictator" type of position. What would your top priority (don't say "jobs") be for getting the economy back on track?

Responses need not be in-depth, just clear enough to encourage discussion.

Here's mine. I'm kind of into urban/labor econ, so my policies revolve around what economists in these fields generally support. By no means is this supposed to be exhaustive:

1) Decouple healthcare and labor markets (there is a lot to unpack here, and it doesn't necessarily mean a single-payer system).

2) Modest minimum wage increases in major cities, generous expansion of EITC (alternatively wage subsidies, direct cash transfers could be used)

3) Encourage mixed-use development in major cities, discourage driving to reasonable extents (either through gas taxes, toll roads); couple with public transit where population density is high enough

4) Open the US to trade, but as this is done, implement worker retraining programs so that people are able to continue supporting themselves

Anyway, apologies for disappearing for a bit there. Finals were kicking my butt (calculus 2 brutalized me).

 

[Big Nasty Edison]

DRILL BABY DRILL! - Sherdog economist.

 

[ultramanhyata]

DRILL BABY DRILL! - Sherdog economist.

SUPPLY-SIDE, TRICKLE-DOWN ALL DAY EVERY DAY, BABY! - 2nd Sherdog economist

 

[shitpostmodern]

SUPPLY-SIDE, TRICKLE-DOWN ALL DAY EVERY DAY, BABY! - 2nd Sherdog economist

You guys don't actually think "supply-side" represents a coherent "school" of thought, do you?

 

[NelmarksGhost]

I would offer a bounty on my political opponents.

 

[freaky]

As an economics student, I'm curious what my fellow sherdoggers would do to fix the current economy

You just want us to do your HW. I ain't falling for your traps.

 

[Cmart]

Fill the private sector with uppercuts.

 

[kpt018]

The economy is doing well so I don't like the implication of "fix the economy" but two ideas that I like that have been stated in the WR before are a kind of social security for children and/or a basic income. I like expanding the EIC and also like the idea of putting some policy in place that kicks in at a certain UE level that works to get us back to full employment (avoids the political bullshit and slow action when fast action is needed). I'm not a fan of MW laws (good intentions) but while we are using that system modest increases are badly needed, but I'd rather address those problems with the former suggestions.

Increased taxes on capital are long overdue but I wouldn't make them too punitive. A bracketed approach like income taxes makes sense.

 

[IGIT]

hi and well met, shitpostmodern,

As an economics student, I'm curious what my fellow sherdoggers would do to fix the current economy if they were placed in a "benevolent dictator" type of position. What would your top priority (don't say "jobs") be for getting the economy back on track?

Responses need not be in-depth, just clear enough to encourage discussion.

Here's mine. I'm kind of into urban/labor econ, so my policies revolve around what economists in these fields generally support. By no means is this supposed to be exhaustive:

1) Decouple healthcare and labor markets (there is a lot to unpack here, and it doesn't necessarily mean a single-payer system).

single payor, which by no means is a "cure all to end all", would have to the first pragmatic step in getting health costs lower without changing the quality of healthcare. certainly the wealthy would be able to purchase all the additional care they wanted to.

2) Modest minimum wage increases in major cities, generous expansion of EITC (alternatively wage subsidies, direct cash transfers could be used)

it would seem that the best way to go about this would be to adjust for the cost of living from region to region.

3) Encourage mixed-use development in major cities, discourage driving to reasonable extents (either through gas taxes, toll roads); couple with public transit where population density is high enough

i'm kind of against things like adjusting for lowering taxes on the wealthy by raising fees for things that everyone uses, like roads or a sales tax.

4) Open the US to trade, but as this is done, implement worker retraining programs so that people are able to continue supporting themselves

this sounds right out of the Clinton playbook. americans rejected going this direction and seem predisposed to protectionist policies.

- IGIT

 

[ultramanhyata]

You guys don't actually think "supply-side" represents a coherent "school" of thought, do you?

It's certainly coherent. But so was the school of feudalism.

 

[HockeyBjj]

Put all people on welfare to work building Trump's wall

Use all the cuts in welfare and health and refugee programs to pay for the wall

 

[Jack V Savage]

Pretty much agree completely with kpt. The economy doesn't need "fixing" but we can do more to fight poverty, and we can do a better job of avoiding political fights over recession fixes (ensure aggressive targeting of full employment).

I'd also favor more gov't-funded R&D and infrastructure improvements. Also, allowing more immigration--especially high-skilled immigration--would help. None of those things would pay immediate dividends (well, infrastructure spending might help or might just cause interest rates to be raised faster), but they'd help longer-term.

 

[Stoic1]

I would end lobbying. I would institute term limits in congress. I would hire people with business experience to assist me in making financial policy decisions.

That should do it.



Also I would take my shirt off at the UN, challenge anyone to a fistfight, then tell them have 24 hours to get the fuck out of America. Right after putting a moratorium on all "foreign aid".

 

[kpt018]

Pretty much agree completely with kpt. The economy doesn't need "fixing" but we can do more to fight poverty, and we can do a better job of avoiding political fights over recession fixes (ensure aggressive targeting of full employment).

I'd also favor more gov't-funded R&D and infrastructure improvements. Also, allowing more immigration--especially high-skilled immigration--would help. None of those things would pay immediate dividends (well, infrastructure spending might help or might just cause interest rates to be raised faster), but they'd help longer-term.

I'm fairly certain I heard the SS for children idea from you first, which I love and I know you've talked about the other stuff as well.

 

[kpt018]

I would end lobbying. I would institute term limits in congress. I would hire people with business experience to assist me in making financial policy decisions.

That should do it.



Also I would take my shirt off at the UN, challenge anyone to a fistfight, then tell them have 24 hours to get the fuck out of America. Right after putting a moratorium on all "foreign aid".

It's not that business people can't be great at policy, but I think there is a potential trap there. Remember that the goals of businesses and the government are completely different (for profit vs non-profit government functions). Thinking of certain policy in terms of profitability can lead to bad policy. Again, the right business person is fine. But it doesn't give you special insight IMO especially because businessmen become specialized. Even CEO's get focused on certain industries.

 

[Higus]

Fix the economy? I might need a better working definition of what is actually wrong with it first. Unemployment? Low Wages? Cost of Living?

 

[JonnyRingo84]

wrong place to ask

youll just hear a lot about the federal reserve and jewish elites innuendo

 

[shitpostmodern]

You just want us to do your HW. I ain't falling for your traps.

Classes ended last week...

 

[kpt018]

wrong place to ask

youll just hear a lot about the federal reserve and jewish elites innuendo

Some posters are super sharp in this area, like Jack. But yeah, most posts are partisan bullshit or flat out wrong.

 

[j123]

Take all the money from the War room and Heavies, and put it towards the berry, then build a firewall between the subforums so they can't get through