Rent-seeking Elites
Anyone else notice that economists hurl their dirtiest word ('rent-seeker') at outsiders but don't use it much while infighting?
IDEA: Freshwater and Saltwater economists model each other as rent-seeking rent seekers, seeking rents. Best model wins it all. #notears
Years ago, Sherwin Rosen (UChicago) smugly suggested to NAS that scientists be modeled as cattle slaughtered in cycles. #econocharm
What can I say: I love science! No one has ever had as good of a time as a paper's respondent as I had that day at NAS. Ahhh. #goodtimes
Thinking of confronting my landlord over rent seeking behavior. Seems like an airtight argument.
I am >80% aligned here. A main counter surrounds the fear that 4 Yrs of more rent-seeking boomer crypto-sanctimony breeds a troll majority. https://t.co/jTLCPp4JBi
Why pin this poll to the top of my twitter? It was for this moment: almost 50% of respondents were restrictionist *xenophiles* & not phobes!
Two different questions:
Q1) Are you more of a xenophile or a xenophobe?
Q2) Do you want immigration to your country expanded or restricted?
In short quadrant II) first principles thinkers and contrarians are rebelling against the dupe / rent seeking alliance *without* xenophobia.
@AlexRussek He likely may be. But in this avatar he is first the wrecking ball.
Why do I always target "the rent-seeking elite" rather than "the elite"?
B/C the two groups are bitter rivals & we need the latter to win.
2017 confessions:
A) Just because you get trolling doesnât somehow make it awesome.
B) Just because the rent-seeking experts are corrupt doesnât make me want to kill off our institutions.
C) I donât want to have to care about Trump/tweets. Itâs a waste of millions of minds.
@normonics @Gore_Burnelli @EricWeinstein How do you feel about elite surgeons?
Elite special forces?
Elite athletes?
Elite pilots?
Elite Scientists and Researchers?
Forget the word elite. Yes, we need to recognize outliers rather than have the fake & rent-seeking elite privatize the true outliers who threaten them.
@normonics @Gore_Burnelli @EricWeinstein Your true elite want to do a lot for the world. The rent-seeking elite find this terrifying. You donât want me doing amateur brain surgery on your child because you want to democratize everything. Iâm just not an elite musician so I let the top rise.There are limits to inclusion.
@ScotchOikos He is musing about a cap on all wealth at the level of wealth itself. Not on rent-seeking or abuse of wealth.
No billionaires could mean no Howard Hughes grants. No University of Chicago. No Rockefeller university. To me, this is not something to be tossed off lightly.
@ScotchOikos I see. I have a pretty positive view of people like @patrickc for example. Sincere. Grounded. Brilliant. Generous. Generative. They work their asses off, and manage risk.
Canât imagine wanting to complain about these kind of people. Canât wait to see what he may do for the đ.
I canât believe the number of followers I have who either believe Billionaires are intrinsically deserving or non-deserving simply by virtue of their wealth. We have areas where markets work beautifully & others where they are pathological. And no one knows what to do about that.
The desire to make the issue go away is what is fascinating. Deciding that all wealth is rent seeking theft or hard won contribution is clearly an attempt to avoid a central issue.
I feel strongly that the âAll Wealth is Theftâ & the âAll Tax is theftâ crowds need to get a room.
Iâve been trying to say since November 2016: âYou have three years to cut out the stuff that loses elections: The evasion. The condescension. The globalization. The shaming. The power brokering. The donor class. The rent seeking. The woke signaling.â But that became what you are.
And, DNC, at this rate youâll likely lose to Donald Trump. Why? Because you are *systemically* corrupt against someone who is idiosyncratic in everything he does good, bad and indifferent. You are dead and he is alive. You have made this about the systemic rotting of US society.
You actually deserve to lose this election. The voters of the party do not.
You had three years to figure out a non-Bernie option that worked for voters. And you couldnât even do that.
We just need to mutiny against the party Mandarins; their commitment to sucking is absolute.
The question is: do you accept this wise system & itâs judgement of you or, dare I say it, do you question whether that system is so broken that it in fact has little ability to pass judgement due to myriad issues of political economy, capture, rent seeking and incentive failure?
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