[Noisebridge-discuss] economics

Gopiballava Flaherty gopiballava at gmail.com
Mon Nov 21 19:10:08 PST 2011


Interestingly, the trade deficit is calculated using the retail price of products. 

An iPhone 4S adds $600 to the deficit. How much $$$ stays in China? Estimates are around $10. Chipsets from Germany, software from Cupertino, etc. 

Thanks,

gopi at iPhone


On Nov 21, 2011, at 19:07, Ryan Rawson <ryanobjc at gmail.com> wrote:

> A few things, first off - China doesnt own all of the US debt, it only
> owns 8% US government debt.
> 
> Now back to economics, there are a few different views of what
> economics is, and this is probably why you were confused about
> econ101...
> 
> Generally speaking there is "microeconomics" and "macroeconomics".
> 
> The former is more about things like 'supply and demand curve', etc.
> This is the study of why products/companies/etc work or fail.  This is
> where terms like 'inelastic demand' is bandied about.  Graphs of
> supply and demand, with optimal price curves, etc. Most econ101
> classes cover this topic.  It is not very controversial.
> 
> Macroeconomics is more about the workings of the entire economy.
> Things like monetary policy, banking policy, bonds, stock markets,
> flow of money, central bank policies, etc are covered here.  Things
> get a bit more controversial, and there are several 'schools' which
> argue about the correct way to run an economy and the role of
> government in said economy.  The Chicago, Austrian, Keynesian and
> other schools of thought are common
> (http://en.wikipedia.org/wiki/Schools_of_economic_thought).
> 
> As an analogy, microeconomics is more like physics and math, and
> macroeconomics is more like biology.  The analogy I apt I think
> because the study of entire economies is challenged by the simple fact
> that you cannot easily run experiments, and there are multiple factors
> and methods of actions occurring at the same time. Not to mention
> political interference with results and measurement in various ways.
> For example, a common measure of inflation excludes energy (oil) and
> food - because they change too fast.  So policies that use this
> measure of inflation as an indicator of how much more people must pay
> are inherently flawed since everyone pays for energy and food.
> 
> I feel like the thought that economics is 'too complex' to understand
> is more a function of the competing noise in the marketplace of ideas
> than any inherently difficult concepts. Some things must be measured
> in a statistical manner, but this is no different than boyle's law.
> 
> 
> 
> On Mon, Nov 21, 2011 at 5:23 PM, Brian Morris <cymraegish at gmail.com> wrote:
>> Would enjoy discussion within personal time constraints
>> 
>> On 11/21/11, Olya K <krasnykh at gmail.com> wrote:
>>> Everyone, thanks for the suggestions, keep them coming along with any
>>> opinions/etc.
>>> I'm a biologist and economics (much like politics) has always scared me b/c
>>> of the "complicated" lingo
>>> I tried to take an Economics 101 class but was largely disappointed (not
>>> sure why, now that I think about it.. should have been clear from the get
>>> go that i'll learn nothing truthful/useful in a 101 class taught at your
>>> "average" school) with the supply-demand model and the free-market economy
>>> as the optimal model <-- made very little sense to me
>>> 
>>> Needless to say, Im happy to know that the reason much of what I've heard
>>> on the topic of oureconomy never made much sense for a good reason. Because
>>> it DOESNT make sense. So that's why I'm reaching out for sources. So I can
>>> understand where exactly we are at the present and what kinds of ideas are
>>> floating around in terms of what should be the long-term sustainable
>>> solution.
>>> 
>>> If anyone is interested in getting together to talk about these things on a
>>> world-wide level, I'd love that. Maybe after Turkey weekend?
>>> 
>>> Olya
>>> 
>>> On Mon, Nov 21, 2011 at 4:35 PM, Anthony C. Roberts <
>>> anthony.c.roberts at gmail.com> wrote:
>>> 
>>>> Along these same lines, the Federal Reserve Bank of Boston publishes some
>>>> terrific educational materials.  I would suggest perhaps starting with
>>>> http://www.bos.frb.org/education/pubs/wishes.pdf
>>>> 
>>>> Warmest regards,
>>>> Tony
>>>> 
>>>> 
>>>> On Nov 21, 2011, at 3:48 PM, Joseph Brenner wrote:
>>>> 
>>>> Olya K <krasnykh at gmail.com> wrote:
>>>> 
>>>> Does anyone know of a good online course in economics/macroeconomics?
>>>> 
>>>> 
>>>> Over at Paul Krugman's blog:
>>>> 
>>>>  http://krugman.blogs.nytimes.com/
>>>> 
>>>> He has a box on the right labeled:
>>>> 
>>>>  "Some links to stuff I’ve written bearing on macroeconomic policy. "
>>>> 
>>>> I'd suggest starting there.
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>>>> 
>>>> 
>>> 
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