Unlearning EconomicsI’ve been gone for a while, and this is why! Hope you enjoy my critique of Pinker’s economics.
0:00 Intro 3:11 Part 1 (i) Poverty and Prosperity: Should We Trust the Data? 19:16 Part 1 (ii) Poverty and Prosperity: Understanding Poverty Measures 40:01 Part 2 (i) Inequality and Distribution: Why Distribution Matters 55:59 Part 2 (ii) Inequality and Distribution: the Dynamics of Inequality 1:13:46 Part 3 The Failure of New Optimism
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Steven Pinker and the Failure of New Optimism ft. Were in HellUnlearning Economics2021-07-25 | I’ve been gone for a while, and this is why! Hope you enjoy my critique of Pinker’s economics.
0:00 Intro 3:11 Part 1 (i) Poverty and Prosperity: Should We Trust the Data? 19:16 Part 1 (ii) Poverty and Prosperity: Understanding Poverty Measures 40:01 Part 2 (i) Inequality and Distribution: Why Distribution Matters 55:59 Part 2 (ii) Inequality and Distribution: the Dynamics of Inequality 1:13:46 Part 3 The Failure of New Optimism
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Chapters: 0:00 Intro 6:02 The Air We Breathe 10:33 Game of Sewage 17:45 Airborne Attacks 29:28 Air Pollution 40:25 Yes, There is Such Thing as a 'Solution' 56:00 Thinking Like An Economist? 1:12:41 Imagining Better Futures
Thanks to @HobbieStuartMusic for the song and introduction!
Thanks to my editor @BenFromCanada!
Thanks to Grim Friberg and @kosykat7824 for the animations.
Thanks to Carolina Alves, @FDSignifire, @Matt_Bruenig, @kosykat7824, and @ThePlainBagel for the quotes.
Chapters: 0:00 Intro 12:32 Economics and Scarcity 33:31 I Need a Car Park 54:09 How Markets Work (and Fail) 1:11:23 Market Failures: Monopoly 1:27:16 Central Planning Was Bad, But... 1:33:39 The Emergence of Capitalism 1:57:37 Return of the Polanyi 2:20:30 Markets as Sites of Governance
Chapters: 0:00 Intro 2:36 Planned Obsolescence: the Basics 18:16 The Value of Everything (That Exists) 28:43 The Goddamn Environment 34:28 Born of the Depression 46:26 ...and that's why
Thank you to @ignosegnose5578 and EvangelineTheodora for the quotes!
Chapters: 0:00 Intro 2:40 Free Stuff for Some, Miniature American Flags for Others 8:50 The 'Free Lunch' of Education 23:17 Universal Healthcare: the Affordable Dream 33:21 Healthcare as Social Insurance 50:13 Universal Based Income 1:07:53 Lumps in the Carpet
Thanks to @LuckyBlackCat, @phenomiks, @LackingSaint, and @lonerbox for the quotes!
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
References (in rough order of appearance) 5 reasons everyone should love surge pricing – Timothy B. Lee vox.com/2014/12/31/7475923/case-for-surge-pricing What Money Can’t Buy - Michael Sandel Snow Crash - Neil Stephenson Dynamic Pricing in a Labor Market: Surge Pricing and Flexible Work on the Uber Platform – Chen and Sheldon Technical Note on CS paper: docs.google.com/document/d/1jPBM46qNpY6L8AIaA5xtWOkAVPEOq_-oaN-hNLx36HM/edit?usp=sharing Reference-Dependent Preferences and Labor Supply: The Case of New York City Taxi Drivers – Farber Constructing a Market, Performing Theory: The Historical Sociology of a Financial Derivatives Exchange – Mackenzie and Milo Freakonomics – Levitt and Dubner Uber’s secret weapon is its team of economists - Alison Griswold Surge Pricing and Short-term Wage Elasticity of Labor Supply in Real-Time Ridesharing Markets – He et al End State - James Plunkett The Undercover Economist – Tim Harford Is surge pricing a fair way to manage demand? -Tim Harford Fair Pricing - Rotemberg ‘Privacy, Economics, and Price Discrimination on the Internet’ - Odlyzko The Efficient Queue and The Case Against Surge Pricing - Woodcock Generating equality and eliminating poverty, the Swedish way – Bkorjlund and FreemanValueUnlearning Economics2022-11-03 | Unlearning Economics' guide to you-know-what.
See every side of every news story with Ground News https://ground.news/unlearningeconomics
Chapters 0:00 Intro 0:56 Wealth Creation 13:22 The Search for a Scientific Theory of Value 25:58 BreadTube vs Economics #4: The Labour Theory of Value 36:51 Taking the Labour Theory of Value Seriously: The Transformation Problem 49:43 Taking the Labour Theory of Value Seriously: The Falling Rate of Profit 1:01:49 Do We Need Theories of Value?
Thanks so much to @BroeyDeschanel, @HowMoneyWorks, @BenFelixCSI, @Econoboi, and @munecat for the quotes.
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
References (in rough order of appearance) The Value of Everything: Making and Taking in the Global Economy, Marianna Mazzucato GDP: A Brief But Affectionate History, Diane Coyle The Neoclassical Theory of Distribution, Gonçalo L. Fonseca hetwebsite.net/het/essays/margrev/distrib.htm Economic Ideology, Joan Robinson Destiny video: youtube.com/watch?v=4OhfX-lS7xA&t=3762s NonCompete video: youtube.com/watch?v=8aHvA0KHXqM Tiffany Ferguson video: youtube.com/watch?v=eVwW6Jq3_TE Novara Media video: youtube.com/watch?v=PHMFOqDLZvY Joan Robinson and the labour theory of value, E.K. Hunt Property And Contract in Economics: The Case For Economic Democracy, David Ellerman Transformation Problem Wikipedia page: en.wikipedia.org/wiki/Transformation_problem Marx after Sraffa, Ian Steedman How the Labor Theory of Value Emerges from Egalitarianism, Blair Fix economicsfromthetopdown.com/2021/09/11/how-the-labor-theory-of-value-emerges-from-egalitarianism Testing the Labour Theory of Value: An Exchange, Birchler and Nitzan Reclaiming Marx's "Capital" A Refutation of the Myth of Inconsistency, Andrew Kliman The Failure of Capitalist Production Underlying Causes of the Great Recession, Andrew Kliman Hakim’s video youtube.com/watch?t=452s&v=SEGGvVinUao FRED dataset: fred.stlouisfed.org Revisiting a world rate of profit, Michael Roberts UK rate of profit and British economic history, Michael Roberts Measuring the rate of profit; profit cycles and the next recession, Michael Roberts The historical transience of capital The downward trend in the rate of profit since XIX century, Maito Is There a Tendency for the Rate of Profit to Fall? Econometric Evidence for the U.S. Economy, 1948-2007, Basu and Manoulakos Distributive shares in the US economy, 1964–2001, Mohun The Falling Rate of Profit Thesis Reassessed: Toward a Sociology of Marx’s Value Theory of Labor, Bradford Crisis Theory and The Falling Rate of Profit, Harvey An Essay on Marxian Economics, Joan RobinsonJordan Peterson Doesnt Understand Gender DiscriminationUnlearning Economics2022-06-28 | A Jordan Peterson video is a bit of a rite of passage, but I hope this one fills a gap!
See every side of every news story with Ground News https://ground.news/unlearningeconomics
Chapters 0:00 Intro 3:14 Part 1: The Gender Pay Gap is Real, Actually 17:17 Part 2: Yes, Women Face Discrimination 34:34 Part 3: The Gender Equality Paradox 42:39 Part 4: The Irrelevance of the Paradox 56:59 Part 5: A Brief History of Gender Discrimination 1:18:01 Conclusion
Thanks so much to @Tom_Nicholas, @HobbieStuartMusic, Lydia Tolhurst, @Kathrin_yt, @T1J, and @anarchozoe for the quotes.
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Thanks to @BigJoel, @MerrickDeville, @socdoneleft, @Mexie, @ChillGoblin, @WereInHell, @MoneyMacro, Maeve Cohen, and @HobbieStuartMusic.
Chapters: 0:00 Intro 2:51 The Superiority of Economists 10:47 The Curse of the Top 5 23:44 Women in Economics 31:59 Toxic Economist-icity 40:20 Econ-cels 54:22 Detoxifying Economics
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Chapters: 0:00 Intro 2:21 What is Worker Democracy? 8:45 Myths and Realities 17:37 A Critical Appraisal 29:08 Good for Workers 38:56 Defending Worker Democracy 51:18 Conclusion
Those beautiful voices you are hearing are @Saint Andrewism , @Zoe Bee , and @JohntheDuncan
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
References (in rough order of appearance): Productivity in cooperatives and worker-owned enterprises, Logue & Yates Equality Under Threat by The Talented: Evidence From Worker-Managed Firms, Burdín Do Broad-based Employee Ownership, Profit Sharing and Stock Options Help the Best Firms Do Even Better?, Blasi et al The empirical performance of orthodox models of the firm: Conventional firms and worker cooperatives, Pencavel & Craig Wages, Employment, And Capital in Capitalist and Worker-Owned Firms, Pencavel et al New evidence on wages and employment in worker cooperatives compared with capitalist firms, Burdín & Dean Employee Vs. Conventionally Owned and Controlled Firms: An Experimental Analysis, Frohlich et al Workplace Democracy in the Lab, Mellizo et al Do cooperative enterprises create social trust?, Sabatini et al Survival Rate of Co-operatives in Québec, OCA Co-op Survival Rates in Alberta, Stringham & Lee Co-op Survival Rates in British Columbia, Murray The Relative Survival of Worker Cooperatives and Barriers to Their Creation, Olsen Scale, Scope and Survival: A Comparison of Cooperative and Capitalist Modes of Production, Monteiro & Stewart Productivity, Capital and Labor in Labor-Managed and Conventional Firms, FakhFakh et al Are Cooperatives More Productive Than Investor-Owned Firms? Cross-Industry Evidence From Portugal, Monteiro & Straume Shadow price of capital and the Furubotn–Pejovich effect: Some empirical evidence for Italian wine cooperatives, Maietta & Sena Trust, Inequality and The Size of The Co-Operative Sector: Cross-Country Evidence, Jones & Kalmi Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-based Stock Options, Kruse et al Analysing the Values and Limitations of Cooperative Firms, Rose Wrist docs.google.com/document/d/1ScS39TWXcPkGOpek4tAfp0rAD5usbwIA05pbqVQdO6g/edit Full Undercover Boss episode: youtube.com/watch?v=WXK3czablWY The Use of Knowledge in Society, Hayek Seeing Like a State, Scott Worker Cooperatives: Good, Sustainable Jobs in the Community, Pérotin The Italian Region Where Co-ops Produce a Third of Its GDP: yesmagazine.org/economy/2016/07/05/the-italian-place-where-co-ops-drive-the-economy-and-most-people-are-members The Marcora Law Supporting Worker Buyouts for Thirty Years, International Cooperative Alliance https://www.ica.coop/en/media/news/marcora-law-supporting-worker-buyouts-thirty-years Second Thought’s video: youtube.com/watch?v=QG0FhpGdFwc&list=WL&index=3&t=489s&ab_channel=SecondThought Lonerbox’s video: youtube.com/watch?v=z7n52oyRUVI Worker Cooperatives: Pathways to Scale, Abell Employee ownership and firm performance: a meta-analysis, Boyle et al Employee Stock Ownership, Involvement, And Productivity: An Interaction-Based Approach, Pendleton & Robinson Employees to be handed stake in firms under Labour plan: theguardian.com/politics/2018/sep/23/labour-private-sector-employee-ownership-plan-john-mcdonnell?utm_source=pocket_mylist What do we really know about worker co-operatives?, Pérotin Evaluating Workplace Democracy in Mondragon, Christiansen Spanish CEO to worker pay: statista.com/statistics/424159/pay-gap-between-ceos-and-average-workers-in-world-by-country Board-level employee representation rights in Europe: Facts and trends, Conchon Labor in the Boardroom, Jäger et al Voice at Work, Harju et al The Marx Ratio and the Trouble with Coops, Bruenig peoplespolicyproject.org/2018/05/22/the-marx-ratio-and-the-trouble-with-coops From Illyria towards Capitalism: Did Labour-Management Theory Teach Us Anything about Yugoslavia and Transition in Its Successor States?, Estrin & Uvalic Market Entry of Firms with Different Legal Forms, Arando et alThe Death of Economics 101 ft. MexieUnlearning Economics2021-04-09 | One way or another, econ101-ism is at the heart of the debates over why we can't have good policies. Good thing it's wrong!
0:00 Intro 2:24 Demand & Supply 8:06 The Minimum Wage Debate 15:34 Making Sense of the Minimum Wage 20:59 Rent Control 31:31 The Influence of Econ101 (Mexie) 40:42 The Brain Worm of Economics
The Rise of American Minimum Wages, 1912–1968, Price V. Fishback and Andrew J. Seltzer
The Elusive Employment Effect of the Minimum Wage, Alan Manning
Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania, David Card and Alan Krueger
Econned, Yves Smith [source of Reed Garfield quote]
Minimum Wage Effects Across State Borders: Estimates Using Contiguous Counties, Dube et. al The Effect Of Minimum Wages On Low-Wage Jobs, Cengiz et. al
Neumark's research and Dube and co's critique: Minimum Wages And Employment: A Review Of Evidence From The New Minimum Wage Research, David Neumark and William Wascher Myth or Measurement: What Does the New Minimum Wage Research Say about Minimum Wages and Job Loss in the United States?, David Neumark & Peter Shirley Credible Research Designs for Minimum Wage Studies: A Response to Neumark, Salas and Wascher, Allegretto et. al
Publication Selection Bias in Minimum‐Wage Research? A Meta‐Regression Analysis, Doucouliagos and Stanley 15 Years of Research on US Employment and the Minimum Wage, Wolfson and Belman
Toder, Eric & Rueben, Kim. (2007). Should We Eliminate Taxation of Capital Income?.
Moffitt, Robert and Wilhelm, Mark, Taxation and the Labor Supply: Decisions of the Affluent (June 1998). NBER Working Paper No. w6621, Available at SSRN: ssrn.com/abstract=160968
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Chapters 1:00 Mainstream economics 2:39 How I am 3:03 David Graeber 4:03 Learning economics 5:45 Economic measures 6:11 Bad economics 7:20 Pluralism 8:27 Common sense economics 10:23 Land Value Tax 11:30 Influencing mainstream media 12:48 Ayn Rand 14:08 Economic anthropology 15:22 Planned economies 17:31 Unlearning economics 19:13 Econ burnout 21:16 Monopolies 23:01 Marmite 23:41 MMT 26:09 Descent into heterodoxy 28:43 Buses 29:31 Leftist economists 33:00 Overrated and underrated economists 36:06 Historical economist 37:34 Communism 39:45 My research 41:23 Motivation 43:25 Econ papers 46:47 AI 48:10 Gaming 50:18 Interdisciplinarity 51:41 Fiscal responsibility 53:55 Favourite YouTubers 55:15 Upcoming videos 56:38 Worker ownership 1:01:36 Studying pluralist econ 1:02:39 Novels 1:03:42 Football 1:04:37 Economics as religion 1:05:40 Universal basic income
References (in rough order of appearance) Al Roth: An economist who saves lives [Matching] bbc.co.uk/news/magazine-20004050 Debt: the First 5000 Years, David Graeber CORE Textbook core-econ.org Post-Keynesian Economics: New Foundations, Marc Lavoie Atlas of Economic Complexity, Ricardo Hausmann et. al Where Profits Come From [Kalecki Profits Equation], Levy et al. levyforecast.com/assets/Profits.pdf https://economic-complexity.ir/wp-content/uploads/2020/11/3.pdf Reconstructing economics: Agent based models and complexity [power law reference], Mauro Gallegatia and Alan Kirman Sell Blood, Burn Car, Ride Bus ... ? podcasts.apple.com/gb/podcast/mandatory-redistribution-party/id1474450871?i=1000447495095 Shedding Darkness, Joan Robinson The Methodology of Positive Economics, Milton Friedman The Priority Heuristic, Brandstatter et alBreadtube vs Economics #3: Response to Contrapoints (and Piketty) on CapitalismUnlearning Economics2021-02-05 | Ever tried to critique someone, and accidentally ended up having to critique someone else in the process?
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
What Do Bosses Do? The origins and functions of hierarchy in capitalist production, Part I, Stephen Marglin. https://scholar.harvard.edu/marglin/publications/what-do-bosses-do
After Piketty: The Agenda for Economics and Inequality, Heather Boushey, J. Bradford Delong, and Marshall Steinbaum. See especially the chapters: A Political Economy Take on W/Y, Suresh Naidu. Towards a Reconciliation between Economics and the Social Sciences, Thomas Piketty.Breadtube vs Economics #2: Response to Shaun on Railway PrivatisationUnlearning Economics2020-12-01 | Should we nationalise trains and other utilities, or privatise them? Are there other options beyond these two?
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
References (in rough order of appearance): Part 1 of my series on Breadtube and Economics - Response to Philosophy Tube on Housing: youtube.com/watch?v=-vfx1kQlmOk
‘Why public transport is broken’, Tom Haines-Doran rs21.org.uk/2016/01/03/whypublictransportisbrokenBreadtube vs Economics #1: Response to Philosophy Tube on HousingUnlearning Economics2020-10-27 | Does a housing market inevitably result in a housing crisis? If so, how could we move away from the housing market?
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Relevant Organisations : Diversify and decolonise economics: d-econ.org/mission The Sadie Collective (US) sadiecollective.org The Black Economists Network (UK) https://linktr.ee/tben
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Parrique et. Al, 2019. Decoupling debunked – Evidence and arguments against green growth as a sole strategy for sustainability eeb.org/library/decoupling-debunked
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
References (in rough order of appearance):
Case, A., Deaton, A., & Harper, K. (2020). Deaths of despair and the future of capitalism.
David H. Autor & David Dorn & Gordon H. Hanson, 2016. "The China Shock: Learning from Labor Market Adjustment to Large Changes in Trade," Annual Review of Economics, vol 8(1) nber.org/papers/w21906
Krugman, P. (1999). The Accidental Theorist: And Other Dispatches from the Dismal Science. London: Penguin.
Krugman, P. (1995). Peddling prosperity: Economic sense and nonsense in the age of diminished expectations. London: Norton.
Krugman, P. (1980). Scale Economies, Product Differentiation, and the Pattern of Trade. The American Economic Review, 70(5), 950-959. Retrieved May 28, 2020, from www.jstor.org/stable/1805774
Krugman, P. R. (1981). Intraindustry specialization and the gains from trade. Journal of political Economy, 89(5), 959-973.
Krugman, P. R. (1985). Increasing returns and the theory of international trade (No. w1752). National Bureau of Economic Research.
Krugman, P (1994). The Fall And Rise Of Development Economics https://web.mit.edu/krugman/www/dishpan.html
Krugman, P. R. (1987). Is free trade passé?. Journal of economic Perspectives, 1(2), 131-144.
Baker, D. (2016). Rigged: How globalization and the rules of the modern economy were structured to make the rich richer. Washington, D.C.: Center for Economic and Policy Research.
Rodrik, D. (2012). The globalization paradox: Why global markets, states, and democracy can't coexist. Oxford: Oxford University Press.COVID-19 and Economic NarrativesUnlearning Economics2020-04-20 | Should the pandemic change how we think about the economy?
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!
Coyle, Diane. (2014). GDP: A Brief but Affectionate History. Princeton University Press. - Quality adjustments in the IT sector pp. 87-90 - Environmental adjustments pp. 115-117 - Services, unproductive labour, USSR growth statistics pp. 10-11 - Simon Kuznets’ views: pp. 13-14
Finance, social value, and the rhetoric of GDP, Jacob Assa. Finance and Society 4 (2), 144-58
Gough, Ian (1972) Marx's theory of productive and unproductive labour. New left review, I/76 . pp. 47- 72. ISSN 0028-6060 core.ac.uk/download/pdf/16379812.pdf
Graeber, David (2018). Bullshit Jobs: A Theory. Simon & Schuster.