Stable Tastes: Difference between revisions

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In fact, joking with @toothfairycyber aside, the "tooth fairy" has far more science behind her than 'stable tastes': http://bit.ly/HaexQ

3:09 AM · Jul 24, 2009

Eric Weinstein

@ericweinstein

Arrow's impossibility theorem can be seen as a cohomological obstruction to constructing representative consumers without magical thinking.

2:42 AM · Aug 29, 2009

Eric Weinstein

@ericweinstein

Becker's theory of stable homogenous tastes on the other hand is....words fail me...the greatest indictment of peer review. Ever.

2:54 AM · Aug 29, 2009

Eric Weinstein

@ericweinstein

Just for a moment...put yourself in my shoes. I have an amazing theory of welfare with evolving tastes and a cult that claims stable tates.

2:57 AM · Aug 29, 2009

Eric Weinstein

@ericweinstein

Why stop at stable tastes? Why not declare yourself the last Pasha of Scotland and immune from bigamy laws as a winged son of Zeus?

3:01 AM · Aug 29, 2009

Eric Weinstein

@ericweinstein

$500 Challenge: Get me an invited Econ gig at Chicago / Harvard to confront the theory of ordinal welfare with stable homogenous tastes.

3:13 AM · Aug 29, 2009

Eric Weinstein

@ericweinstein

Rules are that it has to be in the Econ department on video with Becker present at Chicago or Jorgenson at Harvard.

3:16 AM · Aug 29, 2009

Eric Weinstein

@ericweinstein

12:26 PM · Sep 10, 2009

Eric Weinstein

@ericweinstein

Bitcoiners & I are focused on the danger of two related DC printing presses:

I) One that prints money directed by the Federal Reserve.

II) One that prints the CPI at the @BLS_gov which *forces* billions of dollars in wealth transfers and which can disguise the printing of fiat.

8:34 PM · Nov 18, 2021

Eric Weinstein

@ericweinstein

We don’t always agree. I’ve no idea how Satoshi took aim at I) above. And I don’t yet know how to explain the importance of gauge theory to Gold (physical Gauge Theory), Prices/Quantities (abelian GT), Trade (non-abelian GT) and Utility (infinite dim GT): https://economics.uchicago.edu/sites/economics.uchicago.edu/files/Welfare_Chicago_Draft.pdf

8:34 PM · Nov 18, 2021

Eric Weinstein

@ericweinstein

But we’ve been working together behind the scenes. I so appreciate @Breedlove22 coming to Chicago to witness what I hope will be the beginning of an attack on abuses of perhaps the second most dangerous printing press in Washington as inflation heats up.

Thanks #Bitcoiners: LFG.

8:34 PM · Nov 18, 2021

Eric Weinstein

@ericweinstein

Lastly when we trade with nations that have a different currency from ours, how can we measure inflation of both separate currencies relative to two baskets (imports & exports) without artificially assuming the law of one price?

We *must* innovate here:

https://economics.uchicago.edu/sites/economics.uchicago.edu/files/Chicago_Trade_Index_Draft.pdf

8:34 PM · Nov 18, 2021

Eric Weinstein

@ericweinstein

Bitcoiners, open minded economists & math/physics folks: we have a serious problem navigating world markets using indicators that currently rely on *preposterous* assumptions (homotheticity, law of one price, stable tastes, etc) Economics needs more eyeballs on it from outside.🙏

8:34 PM · Nov 18, 2021

Eric Weinstein

@ericweinstein

#bitcoin #Crypto #nft #Blockchain #Decentralization #DeFi #web3 #inflation #cpi #Trade #gaugetheory

8:40 PM · Nov 18, 2021

Related Pages[edit]

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+|content=In fact, joking with @toothfairycyber aside, the "tooth fairy" has far more science behind her than [[Stable Tastes|'stable tastes']]:
+http://bit.ly/HaexQ
+|timestamp=3:09 AM · Jul 24, 2009
+}}
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+|thread=
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+|content=[[Arrow's Impossibility Theorem|Arrow's impossibility theorem]] can be seen as a cohomological obstruction to constructing representative consumers without magical thinking.
+|timestamp=2:42 AM · Aug 29, 2009
+}}
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+|content=[[Gary Becker|Becker's]] theory of [[Stable Tastes|stable homogenous tastes]] on the other hand is....words fail me...the greatest indictment of [[Peer Review|peer review]]. Ever.
+|timestamp=2:54 AM · Aug 29, 2009
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+|timestamp=2:57 AM · Aug 29, 2009
+}}
+{{Tweet
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+|content=Why stop at [[Stable Tastes|stable tastes]]? Why not declare yourself the last Pasha of Scotland and immune from bigamy laws as a winged son of Zeus?
+|timestamp=3:01 AM · Aug 29, 2009
+}}
+{{Tweet
+|image=Eric profile picture.jpg
+|nameurl=https://x.com/EricRWeinstein/status/3618080234
+|name=Eric Weinstein
+|usernameurl=https://x.com/ericweinstein
+|username=ericweinstein
+|content=$500 Challenge: Get me an invited Econ gig at Chicago / [[Harvard]] to confront the theory of ordinal welfare with [[Stable Tastes|stable homogenous tastes]].
+|timestamp=3:13 AM · Aug 29, 2009
+}}
+|timestamp=3:16 AM · Aug 29, 2009
+}}
 {{Tweet
@@ Line 5: / Line 74: @@
 |nameurl=https://x.com/EricRWeinstein/status/3886175728
 |name=Eric Weinstein
-|usernameurl=https://x.com/EricRWeinstein
+|usernameurl=https://x.com/ericweinstein
-|username=EricRWeinstein
+|username=ericweinstein
 |content=VaR -&gt; [[Kayfabe]] <nowiki>|</nowiki> [[Ronald Coase|Coase]] -&gt; Economics <nowiki>|</nowiki> [[Stable Tastes]] -&gt; [[Kayfabe]] <nowiki>|</nowiki> [[Arrow's Impossibility Theorem|Arrow's Theorem]] -&gt; Economics <nowiki>|</nowiki> Rep. Consumer -&gt; [[Kayfabe]] <nowiki>|</nowiki> B. Scholes-&gt; Econ
 |timestamp=12:26 PM · Sep 10, 2009
@@ Line 16: / Line 85: @@
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 |content=<nowiki>#</nowiki>bitcoin #Crypto #nft #Blockchain #Decentralization #DeFi #web3 #inflation #cpi #Trade #gaugetheory
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@@ Line 24: / Line 93: @@
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 |content=Bitcoiners & I are focused on the danger of two related DC printing presses:
@@ Line 38: / Line 107: @@
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+|usernameurl=https://x.com/ericweinstein
-|username=EricRWeinstein
+|username=ericweinstein
 |content=We don’t always agree. I’ve no idea how Satoshi took aim at I) above. And I don’t yet know how to explain the importance of gauge theory to Gold (physical Gauge Theory), Prices/Quantities (abelian GT), Trade (non-abelian GT) and Utility (infinite dim GT):
 https://economics.uchicago.edu/sites/economics.uchicago.edu/files/Welfare_Chicago_Draft.pdf
@@ Line 48: / Line 117: @@
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+|usernameurl=https://x.com/ericweinstein
-|username=EricRWeinstein
+|username=ericweinstein
 |content=But we’ve been working together behind the scenes. I so appreciate @Breedlove22 coming to Chicago to witness what I hope will be the beginning of an attack on abuses of perhaps the second most dangerous printing press in Washington as inflation heats up.
@@ Line 60: / Line 129: @@
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-|username=EricRWeinstein
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@@ Line 73: / Line 142: @@
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-|username=EricRWeinstein
+|username=ericweinstein
 |content=Bitcoiners, open minded economists &amp; math/physics folks: we have a serious problem navigating world markets using indicators that currently rely on *preposterous* assumptions (homotheticity, law of one price, [[Stable Tastes|stable tastes]], etc) Economics needs more eyeballs on it from outside.🙏
 |timestamp=8:34 PM · Nov 18, 2021