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|content=There's plenty of beauty in Economics Paul, but that works okay: '''Coase's Thm''', Arrow's Impossibility Thm, Fixed Pt Thms, etc...
|content=There's plenty of beauty in Economics Paul, but that works okay: [[Ronald Coase|Coase's Thm]], [[Arrow's Impossibility Theorem|Arrow's Impossibility Thm]], Fixed Pt Thms, etc...
|timestamp=9:13 PM · Sep 6, 2009
|timestamp=9:13 PM · Sep 6, 2009
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|content=VaR -&gt; [[Kayfabe]] <nowiki>|</nowiki> '''Coase''' -&gt; Economics <nowiki>| Stable Tastes -&gt; Kayfabe | Arrow's Theorem -&gt; Economics | Rep. Consumer -&gt; Kayfabe |</nowiki> B. Scholes-&gt; Econ
|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
|timestamp=12:26 PM · Sep 10, 2009
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|content=@ubfid Hi Fergus. The Stigler quotes come from the 'Eureka!' chapter in his autobiography: http://bit.ly/CoaseStigler
|content=@ubfid Hi Fergus. The [[George Stigler|Stigler]] quotes come from the 'Eureka!' chapter in his autobiography: http://bit.ly/CoaseStigler
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|content="Economists could not understand how so fine an economist as '''Coase''' could make so obvious a mistake." -UChicago peer reviews '''Coase''' [Stigler]
|content="Economists could not understand how so fine an economist as [[Ronald Coase|Coase]] could make so obvious a mistake." -UChicago peer reviews [[Ronald Coase|Coase]] [Stigler]
|timestamp=6:30 AM · Nov 16, 2009
|timestamp=6:30 AM · Nov 16, 2009
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|content="[After] 2 hours of argument, the vote went from 20 against and 1 for '''Coase''' to 21 for '''Coase'''." -Chicago Econ. reviews itself. [Stigler]
|content="[After] 2 hours of argument, the vote went from 20 against and 1 for [[Ronald Coase|Coase]] to 21 for [[Ronald Coase|Coase]]." -Chicago Econ. reviews itself. [Stigler]
|timestamp=6:35 AM · Nov 16, 2009
|timestamp=6:35 AM · Nov 16, 2009
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|content=Via revealed preference, '''Coase''' seems to me a modern Solomon asking "Do you really love efficiency, or do you plead before us to seek rent?"
|content=Via [[Revealed Preference|revealed preference]], [[Ronald Coase|Coase]] seems to me a modern Solomon asking "Do you really love efficiency, or do you plead before us to seek rent?"
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|content=I guessed wrong when I first heard '''Coase's theorem''' phrased as an economics puzzle. No shame in that: it's as deep as it is elegant.
|content=I guessed wrong when I first heard [[Ronald Coase|Coase's theorem]] phrased as an economics puzzle. No shame in that: it's as deep as it is elegant.
|timestamp=6:44 AM · Feb 7, 2010
|timestamp=6:44 AM · Feb 7, 2010
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|content=To me, '''Coase's result''' is simultaneously radical in opposite political directions by decoupling efficiency & distribution via securitization.
|content=To me, [[Ronald Coase|Coase's result]] is simultaneously radical in opposite political directions by decoupling efficiency & distribution via securitization.
|timestamp=2:50 PM · Feb 7, 2010
|timestamp=2:50 PM · Feb 7, 2010
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|timestamp=3:00 PM · Feb 7, 2010
|timestamp=3:00 PM · Feb 7, 2010
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=== 2016 ===
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|nameurl=https://x.com/EricRWeinstein/status/773013974832918528
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=Lefty style
What do we want: Securitization of [[Ronald Coase|tradable Coasian rights]] for native labor!!
When do we want it: Now!
|quote=
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|nameurl=https://x.com/ScholarGypzi/status/773007714779668480
|name=Dave Armstrong
|usernameurl=https://x.com/ScholarGypzi
|username=ScholarGypzi
|content=@pmarca Eric, great paper; can we fit it on a bumper sticker?http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.546.895&rep=rep1&type=pdf
|timestamp=3:59 AM · Sep 6, 2016
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|timestamp=4:24 AM · Sep 6, 2016
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|content=@Noahpinion @TimBartik If you're honest, then stop w/ the red herrings on Demand Curve modeling as my point is TOTALLY agnostic to that. You write that my paper "Is a good idea that deserves much more thought!" Okay. Don't tell me. Show me a lack of capture. Put in demand curve shocks. NOTHING changes. https://t.co/n8s40niyuf
|content=If you're honest, then stop w/ the red herrings on Demand Curve modeling as my point is TOTALLY agnostic to that. You write that my paper "Is a good idea that deserves much more thought!" Okay. Don't tell me. Show me a lack of capture. Put in demand curve shocks. NOTHING changes.
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9/TRADE (CONT.): Then there‘s the appearance of “Comparative Advantage” which was recently revealed as an iron clad Exoteric explanation trade experts give to all but each other because the real Esoteric is “too complex” for the rest of us &amp; has holes.
9/TRADE (CONT.): Then there‘s the appearance of “Comparative Advantage” which was recently revealed as an iron clad Exoteric explanation trade experts give to all but each other because the real Esoteric is “too complex” for the rest of us &amp; has holes.
|timestamp=8:29 PM · Dec 16, 2017
|timestamp=8:29 PM · Dec 16, 2017
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|nameurl=https://x.com/EricRWeinstein/status/942130697023582208
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=@LibertyRBlack The seamstress and the Shmata salesman.
|timestamp=8:33 PM · Dec 16, 2017
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|content=@RadioFreeTom @SamHarrisOrg Nah. It’s about institutional betrayal. Nobody resents Elon Musk or Tony Stark for wealth. The poor want experts.
|content=@RadioFreeTom @SamHarrisOrg Nah. It’s about [[Universal Institutional Betrayal|institutional betrayal]]. Nobody resents Elon Musk or Tony Stark for wealth. The poor want experts.


And I’m just looking to you &amp; Sam as my fellow experts to help me try to stop those betrayed from sending a wrecking-ball through the infrastructure of our world.
And I’m just looking to you &amp; Sam as my fellow experts to help me try to stop those betrayed from sending a wrecking-ball through the infrastructure of our world.
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|content=@RadioFreeTom @SamHarrisOrg Oh cool. “Institutional Betrayal” is an academic theory for trauma differentiation of @jjforegon. You in particular should find it interesting I think. People betrayed by institutions with mandates to care for them behave differently re trauma.
|content=@RadioFreeTom @SamHarrisOrg Oh cool. [[Universal Institutional Betrayal|“Institutional Betrayal”]] is an academic theory for trauma differentiation of @jjforegon. You in particular should find it interesting I think. People betrayed by institutions with mandates to care for them behave differently re trauma.


Helps to explain a lot in 2008-17.
Helps to explain a lot in 2008-17.
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|content=@SamHarrisOrg @RadioFreeTom  
|content=@SamHarrisOrg @RadioFreeTom
 
10/TRADE (CONT.)
10/TRADE (CONT.)
Look at the slide &amp; listen to this talk from a former Clinton administration economist. Notice the words 'Esoteric' vs. 'Exoteric'. Claiming the real arguments are too complex to math guys like me is laughable:
Look at the slide &amp; listen to this talk from a former Clinton administration economist. Notice the words 'Esoteric' vs. 'Exoteric'. Claiming the real arguments are too complex to math guys like me is laughable:
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|content=@RadioFreeTom @SamHarrisOrg @paulkrugman @NSF @theNASciences And, no I don’t call something a conspiracy because I disagree w/ experts. I usually agree w/ them! What I disageee with is using expertise to transfer wealth &amp; agency from the supposedly childlike voters who intuit something is rigged but can’t name it in political 3 card Monty.
|content=@RadioFreeTom @SamHarrisOrg @paulkrugman @NSF @theNASciences And, no I don’t call something a conspiracy because I disagree w/ experts. I usually agree w/ them! What I disageee with is using expertise to transfer wealth &amp; agency from the supposedly childlike voters who intuit something is rigged but can’t name it in political 3 card Monty.
|timestamp=6:11 PM · Dec 17, 2017
|timestamp=6:11 PM · Dec 17, 2017
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|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/942507916824788992
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=@nntaleb @RadioFreeTom @SamHarrisOrg @BretWeinstein @jordanbpeterson @CHSommers @HeatherEHeying @PiaMalaney @peterthiel @DouglasKMurray @Raheelraza @tristanharris @sparker Hi Nassim, With 66 dyadic relationships between 12 individuals there was zero implied pairwise mutual endorsement or respect implied. I’m certainly happy to make that explicit here for the record if that wasn’t clear.
|timestamp=9:32 PM · Dec 17, 2017
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|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/942508569022283776
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=@nntaleb @RadioFreeTom @SamHarrisOrg @BretWeinstein @jordanbpeterson @CHSommers @HeatherEHeying @PiaMalaney @peterthiel @DouglasKMurray @Raheelraza @tristanharris @sparker Will read. Thanks!
|timestamp=9:35 PM · Dec 17, 2017
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|content=@Noahpinion @TimBartik Oh wow! That's what I *love* about economists: a total reliance on ad hoc selective application of standards to reach desired conclusions.
|content=Oh wow! That's what I *love* about economists: a total reliance on ad hoc selective application of standards to reach desired conclusions.


This is fun. Please apply that selective standard evenly to all of Econ 101 and let's watch your *entire* field disintegrate.
This is fun. Please apply that selective standard evenly to all of Econ 101 and let's watch your *entire* field disintegrate.
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|content=@MiriamMakEnergy Sorry Miriam: The laypeople don't speak the academy's language so the academy resists the laity and disparages them. Renegade experts who are tired of the expert cartels' embargo against sharing more deep expertise with the laity can translate the laity to the cartels. Helpful?
|content=Sorry Miriam: The laypeople don't speak the academy's language so the academy resists the laity and disparages them. Renegade experts who are tired of the expert cartels' embargo against sharing more deep expertise with the laity can translate the laity to the cartels. Helpful?
|timestamp=7:25 PM · Dec 16, 2017
|timestamp=7:25 PM · Dec 16, 2017
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=== 2024 ===
=== 2024 ===
{{Tweet
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|nameurl=https://x.com/EricRWeinstein/status/1823488036459700708
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=You mean the Friedman money and banking seminar where @haralduhlig was the principal critic who then started to understand only after the seminar?
I’d be happy to do this with Harald on board. It might motivate us to finish our work that happened after the seminar.
I don’t know you @florianederer. But I do know you as a consistantly bad actor. As you may know, the most famous Chicago seminar was that of '''Coase'''. Where the seminar became famous *because* Chicago got it wrong. And it took much longer to see the argument.
Harald got it wrong during the seminar. And I also know that Chicago, at least historically, eventually usually gets it right. But I’d be happy to structure a bet that would penalize your being a bad actor.
I write this not because I care about your opinion. But because Cliff is a colleague. And, at least here, you are a troll. Let’s figure out if there is a mutually agreeable bet that gives me an ability to inflict a cost on this behavior of yours.
And one last point. Arrow and Samuelson were both supportive of this work. But perhaps you see what they do not. Who knows. You are certainly very sure of your position. As am I.
One of us is wrong.
|timestamp=10:33 PM · Aug 13, 2024
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|timestamp=7:46 PM · Oct 5, 2024
|timestamp=7:46 PM · Oct 5, 2024
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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1856037816209399991
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=Or try this:
{{#widget:YouTube|id=EsYDVW2na7c}}
|thread=
{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1856026921659969705
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=In this brutal campaign, potentially the most important idea for labor surviving,  coexisting and thriving with AI got lost. It was raised by @NicoleShanahan inside the  @RobertKennedyJr campaign, before they folded into MAGA/MAHA. She whispered it in a sea of shouts and screams, and to the best of my knowledge no one heard it.
The idea is this: UBI is a crude dehumanizing welfare tool which should be abandoned in favor of a '''Coasian free market solution'''.
Unfortunately for this idea to work, we have two massive branding problems:
A) Businessmen pretend to be Free Marketeers  They are not. '''Coasian economics''' gives them an option to live their stated free market dream but where workers can now get wealthy. And, as you might fear, CEOs and VCs hate it. Thus you can’t trust the “free marketeers” because the free market may be used to help labor over capital.
B) UBI may be dull, blunt, socialist and stupid but it has a massive brand. '''Coase''' is a efficient and brilliant but has no marketing department. It’s a boutique “IYKYK” product for true free marketeers. Ask any top economist about the most ingenious three ideas ever had by an economist and many of them will include “Coasian Property Rights” because it is totally non-obvious and pure.
If you want to save the planet from the twin threats of Communist UBI and Post Capitalist AI, do *NOT* put a tech CEO or VC as AI/Labor Tsar. I know that sounds crazy, but that is simply due to point A). '''Coase''' makes you choose between profiteering and free marketeering. And capitalists choose personal wealth over free markets almost always (see the link below).
You want a Tsarina to save the free market in @NicoleShanahan to cut all Americans in using free markets.
Don’t let UBi make Americans into welfare recipients. Make them *owners* and make them WEALTHY. Please resist the temptation and do *not* give this portfolio to business people claiming to be free marketeers. '''Use Coase instead'''.
This should have been front and center given the looming threat to labor. Let’s start talking about it now. There is no time to lose.
[For how this works technically, change Migrant Workers to AIs in the following:
https://www.ilo.org/sites/default/files/wcmsp5/groups/public/@ed_protect/@protrav/@migrant/documents/publication/wcms_201871.pdf
and the entire framework goes over, more or less word for word.]
🙏
|timestamp=5:31 PM · Nov 11, 2024
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|nameurl=https://x.com/EricRWeinstein/status/1856037481801756768
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content={{#widget:YouTube|id=00HPak2RLlQ}}
|timestamp=6:13 PM · Nov 11, 2024
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|timestamp=6:14 PM · Nov 11, 2024
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=== 2025 ===
=== 2025 ===
{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1902763446359478385
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=For how this works, I wrote a paper explaining it in the case of immigration that has very little math in it (I.e. the underlying math is hidden by moving it from formulae to pictures) so everyone can understand it.
To make it into an AI free market solution, change Foreign Worker to “AI system” and the idea mostly just goes through mutatis mutandis:
https://theportal.wiki/wiki/Migration_For_The_Benefit_of_All:_Towards_a_New_Paradigm_for_Migrant_Labor_(Content)
|thread=
{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1902762014520512653
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=Use the '''Coase''', Andrew. Put away the UBI. Partner with @NicoleShanahan as politician; the '''Coase''' is strong with this one
'''Coasian rights''' are the solution to both our immigration nightmare and our AI labor apocalypse:
:::'''Coase''' &gt;&gt; UBI
Let’s debate it out.
{{Tweet
|image=AndrewYang-profile.jpg
|nameurl=https://x.com/AndrewYang/status/1902468574641328417
|name=Andrew Yang
|usernameurl=https://x.com/AndrewYang
|username=AndrewYang
|content=Guys, AI is going to eat a shit ton of jobs.  I don’t see anyone really talking about this meaningfully in terms of what to do about it for people.  What’s the plan?
|timestamp=9:13 PM · Mar 19, 2025
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|timestamp=4:39 PM · Mar 20, 2025
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|timestamp=4:45 PM · Mar 20, 2025
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== Related Pages ==
== Related Pages ==
* [[Arrow's Impossibility Theorem]]
* [[Borjas Rectangle Theory]]
* [[Boskin Commission]]
* [[Council of the Canceled with Eric Weinstein, Jay Bhattacharya and Mike Benz (X Content)]]
* [[CPI]]
* [[François Divisia]]
* [[Gauge Theory]]
* [[Ken Arrow]]
* [[Ken Arrow]]
* [[Council of the Canceled with Eric Weinstein, Jay Bhattacharya and Mike Benz (X Content)]]
* [[Immigration]]
* [[Immigration]]
* [[Migration For The Benefit of All: Towards a New Paradigm for Migrant Labor (Content)]]
* [[Migration For The Benefit of All: Towards a New Paradigm for Migrant Labor (Content)]]
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