Another smarter human pointed this out and it stuck with me: the guys most hyped about AI are good at nothing and thus can't see how bad it is at everything. It's like the Gell-Mann Amnesia Effect.
I agree that conflating a healthy economy with stock market growth is bogus. This misconception predates the 1970s, and is the same sort of chalkboard economics I'm talking about.
The chalkboard:
The results:
That doesn't mean that economics as a whole is bullshit. It means that monetary policy in particular has been heavily propagandized. An economist who agrees with you will find themselves unable to obtain funding and ostracized. Just like Galileo was... But it was geocentrism - not all of astronomy - that was unscientific. Science is how you know if you're a Galileo or just a crank.
You don't use science to show that you're right, you use science to become right.
— Randall Munroe
IMHO the mask simply came off in 2008 when they bailed out the rich and not the poor. They're pissing on our legs and telling us it's raining. As more and more people are forced into poverty while the stock market soars, more of us are rightfully asking these questions. So what are we gonna do about it? Do you trust your savings to someone who insists that the economy is rich people's yachts?
Direct action my friend. Unionize, participate in mutual aid, opt out of their economy as best as you can. Wars are won by supply chains, not by dead idealists.
IMO we desperately need p2p insurance. The insurance industry as we know it is 100% enshittified by "crony" capitalism and we have no meaningful mechanism for assessing risk and funding solutions. Homeowners insurance is now about as good a deal as American health insurance.
IMHO part of the problem was that economics was more a branch of philosophy than a science until the 1970s, but the public never got the memo when this changed.
So we get doofuses who act like their economics claims are purely a matter of opinion, not falsifiable hypotheses. Try arguing for a UBI and watch how many chalkboard economists tell you what they imagine would happen, completely ignoring all experimental results.
Tell me what you guys think of this invention idea. A steel post inside the bike that sticks vertically into the ground if the cyclist is thrown clear above some minimum speed.
"That's psycho, Explodicle" you say. But consider how it changes incentives. Suddenly, the driver is in far more danger if they hit a cyclist, encouraging drivers to spare lives. Like the propane tank meme, but lighter and less deadly for the cyclist.
They're going to hurt you in the short term and billions in the long term, and the law is on their side. At a certain point you need to physically defend yourself, or just die.
Too mainstream... OCCCU please and thank you.