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Comment Re: Pay to play? Piece of the action? (Score 1) 82

How about "Towards An Understanding of the Real Effects and Costs of Inflation" by
Stanley Fischer & Franco Modigliani ( https://ancillary-proxy.atarimworker.io?url=https%3A%2F%2Fwww.nber.org%2Fpapers%2Fw0... )?

Did these two luminaries of the Economics discipline find anything other than "menu costs" as a downside, and can't that be easily automated away? If you keep track of prices in purchasing power units, will you even notice hyperinflation, if that is the arbitrary outcome of full indexation?

Comment Re:Unions (Score 1) 131

no doubt. Which is why I only have subcontractors, not permanent employees and almost all of them are in Ukraine. Also as I said, should something like that be attempted, I would shut down parts of businesses and get rid of the people who attempt it, I wouldn't run a business where I had to deal with this.

Comment Re:Unions (Score 1) 131

as someone who owns and runs a few companies, the largest having around 1000 people working in it, I can understand why some people, especually who never built a company, think that the people working for a company are underpaid compared to the people who buolt it. This misunderstanding is easy to develop, people (and many other animals) have a strong built in mechanism responsible for having emotions and feelings related to fairness. This expectation of fairness is easy to channel into a different sort of a feeling - expectation of equality, feeling that equality must be enforced because it may ne argued that it is unfair that there is inequality of outcomes.

So it is clear that there are political forces tbat use thw easiest pressure points in the human condition to achieve low hanging political fruits. The fwelings of unfairness become especially inflamed during harsher times, so an economic downturn can be easily used to pass various socialist, even Marxist agenda, which changes the power balance in the ruling elite (those near the reigns of political power). This is done at the expense of economic health, any amount of political power over economic forces misallocates scarce resources and decreases economic activity in the long run, while achieving short term pplitical goals.

On a personal level, I woildn't allow unions to take over my enterprise, I would rather see the business shrink and restructure than lose control over how it is governed.

Comment Re: Are the problems of mankind man-made? (Score 1) 154

What if supply and demand of real things is but a tiny factor in price-setting, and the main factor is noise (cf. Fischer Black)? How would that change our approach to inflation? If inflation is noise upon noise, not a signal of scarcity, why not index it away, as Israel did successfully for many decades?

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