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Economics

Anonymous Sun 24 Apr 17:37:26 2022 No.14424665 View Reply Original Report

Quoted By: >>14424685 >>14430756

Is behavioral economics the future or is there another field that will become more important for research? Is it possible to make big money as an economist? Do you think blockchain and DAO is really the future?
Previous thread >>14420131

Anonymous

Anonymous Sun 24 Apr 2022 17:47:35 No.14424685 Report

Quoted By: >>14424687

>>14424665
>Is behavioral economics the future or is there another field that will become more important for research?
What's your goal? Making money? Understanding the economy? The question is too vague.

>Is it possible to make big money as an economist?
Sure.

>Do you think blockchain and DAO is really the future?
Decentralized apps have its place, but DAO's don't seem to work out well as of now.

Anonymous

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Anonymous Sun 24 Apr 2022 17:48:54 No.14424687 Report

Quoted By: >>14424694 >>14424759

>>14424685
>What's your goal? Making money? Understanding the economy? The question is too vague.
Doing research, something that hasn't been covered yet but if everyone is doing it, then all the low hanging fruit is already gone.
>Sure.
How?
>Decentralized apps have its place, but DAO's don't seem to work out well as of now.
Why so? 50% attacks?

Anonymous

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Anonymous Sun 24 Apr 2022 17:52:04 No.14424694 Report

Quoted By: >>14424702

>>14424687
Yeah I donno, I think you can find interesting corners in all mathematical-tangent fields. Just manage your expectations of finding something impactful. That goes for any math/science field just the same

>>14424687
>How?
I mean you can make big money whatever you, kinda. If you invest in the right things. I know it's of a stupid response, sorry.

>>14424687
>Why so? 50% attacks?
I mean for a start, there's no real good scalable platforms.

Semirelated: I'm swing trading apecoin as we speak. Would recommend.

Anonymous

Anonymous Sun 24 Apr 2022 17:55:56 No.14424702 Report

Quoted By: >>14424712

>>14424694
Thanks I will check it out, so far I've only checked Monero and Telos because of a network called Discussions.app that uses it, but I don't see it growing in value too fast.
Also DAOs seem to be quite easy to be taken over, economic wise.

Anonymous

Anonymous Sun 24 Apr 2022 17:59:53 No.14424712 Report

Quoted By: >>14424732

>>14424702
They announce their metaverse platform on Saturday afternoon, you just need to hold some Friday night and not get too greedy Saturday night. Report back.

Anonymous

Anonymous Sun 24 Apr 2022 18:00:49 No.14424713 Report

Quoted By: >>14424732

>Is behavioral economics the future or is there another field that will become more important for research?
That's hard to forecast. What's getting a lot of attention now may not get a lot of attention tomorrow and the other way around. Empirical papers are more successful than theoretical papers right now but the trend might reverse for all anyone knows. Research is a tradeoff between novelty and relevance. Too niche and no one cares because it's too specific, too relevant and you're just treading old ground. Just do something you're good at and are interested in. You'll find a way to stand out.
>Is it possible to make big money as an economist
Sure but maybe you're better off becoming a doctor if money is your motivation
>Do you think blockchain and DAO is really the future
Not my lifetime's future

Anonymous

Anonymous Sun 24 Apr 2022 18:07:59 No.14424732 Report

Quoted By: >>14424865

>>14424712
Metaverse as in it will operate on Zuck's platform or its their own thing like NFTs?
>>14424713
>Just do something you're good at and are interested in.
Thanks just wondered what the fields had to offer. I'm just learning economics since my main field is software but wouldn't mind doing research on fintech
>Sure but maybe you're better off becoming a doctor if money is your motivation
Because it'd be more efficient or because the field has no way to make money fast?

Anonymous

Anonymous Sun 24 Apr 2022 18:23:19 No.14424759 Report

Quoted By: >>14424763

>>14424687
The only research worthwhile as an economist is gathering data. You will never be an award winning theorist, shut up and gather data

Anonymous

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Anonymous Sun 24 Apr 2022 18:24:10 No.14424763 Report

Quoted By:

>>14424759
So basically you say that empirical economy is where its at right now

Anonymous

Anonymous Sun 24 Apr 2022 18:29:58 No.14424769 Report

Quoted By: >>14424865

Also according to the book Principles of Economics, industries should be taxed for pollution by how much they do it, or sell pollution permits. According to Mankiw that will allow industries to efficiently pollute as much as they can afford and incentive them to find ways to pollute less so they can pay less. Do you think that'd be practical?

Anonymous

Anonymous Sun 24 Apr 2022 18:57:43 No.14424865 Report

Quoted By: >>14424882

>>14424732
Only a few economists get doctor salaries. Most doctors get doctor salaries.
>>14424769
It's great on paper but things get murkier with political-economy concerns. Just because your tax is optimal doesn't mean a future government won't repeal it and screw over your plans. I think the future of environmental economics lies in applied game theory.

Anonymous

Anonymous Sun 24 Apr 2022 19:03:12 No.14424882 Report

Quoted By: >>14424890

>>14424865
>applied game theory
That's an interesting idea anon, how could it be applied?

Anonymous

Anonymous Sun 24 Apr 2022 19:05:59 No.14424890 Report

Quoted By: >>14424901

>>14424882
Look up mechanism design. The literature on that applied to environmental economics is surprisingly sparse. Bard Harstad has a few interesting papers on the topic.

Anonymous

Anonymous Sun 24 Apr 2022 19:10:36 No.14424901 Report

Quoted By:

>>14424890
Thanks will do!

Anonymous

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Anonymous Sun 24 Apr 2022 19:32:45 No.14424934 Report

Quoted By: >>14425106

Can Math truly be used in economics or the amount of variables makes it unfeasible?

Anonymous

Anonymous Sun 24 Apr 2022 20:14:01 No.14425050 Report

Quoted By:

What would you suggest to someone starting in Economy or Finance?

Anonymous

Anonymous Sun 24 Apr 2022 20:32:13 No.14425106 Report

Quoted By: >>14425143 >>14425348

>>14424934
Until we know, you could do worse than reading the Empire and Foundation books, truly epic stuff.

Anonymous

Anonymous Sun 24 Apr 2022 20:43:20 No.14425143 Report

Quoted By: >>14425159

>>14425106
Are economists just Hari Seldon larpers? So many of them are Foundation fans.

Anonymous

Anonymous Sun 24 Apr 2022 20:49:40 No.14425159 Report

Quoted By:

>>14425143
I think they correlate, I mean economy deals with huge systems with many variables and consumer behavior, sometimes with math. The Foundation is behavioral math on an universal scale. Not sure if there's another field that overlaps more.

Anonymous

Anonymous Sun 24 Apr 2022 21:40:19 No.14425280 Report

Quoted By:

What are the essential tools for any economist?

Anonymous

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Anonymous Sun 24 Apr 2022 22:13:37 No.14425348 Report

Quoted By:

>>14425106
Is there anything like Psychohistory in modern science or economy?

Anonymous

Anonymous Sun 24 Apr 2022 23:49:11 No.14425603 Report

Quoted By:

What economy books are you reading now, anon?

Anonymous

Anonymous Mon 25 Apr 2022 03:43:43 No.14426057 Report

Quoted By:

Capital is a lie, we should all be going back to a barter system, simplify things

Anonymous

Anonymous Mon 25 Apr 2022 05:00:55 No.14426189 Report

Quoted By: >>14426346 >>14427926 >>14427963

How to become a better economist?

Anonymous

Anonymous Mon 25 Apr 2022 06:32:10 No.14426346 Report

Quoted By:

>>14426189
Read books from economists you disagree with, try to deduct what makes one reach such conclusions.

Anonymous

Anonymous Mon 25 Apr 2022 19:23:25 No.14427926 Report

Quoted By: >>14427963

>>14426189
Any of Thomas Sowell's books he was a former Marxist before coming to the conclusion after rigorous study that it marx economics was pretty much a frivolous religion
That's a good place to start

Anonymous

Anonymous Mon 25 Apr 2022 19:34:15 No.14427963 Report

Quoted By:

>>14427926
Sowell has contributed nothing to modern econ, besides maybe dunking on leftoids.

>>14426189
If you want to get better at econ there isn't much to do besides do more econ. Either read more econ texts or if you are ambitious and have access to some amount of data try applying economic models.

Anonymous

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Anonymous Tue 26 Apr 2022 01:13:45 No.14429059 Report

Quoted By:

Are economists good in bed?

Anonymous

Anonymous Tue 26 Apr 2022 07:08:31 No.14429866 Report

Quoted By:

What are you working on, economist bros?

Anonymous

Anonymous Tue 26 Apr 2022 08:09:32 No.14429978 Report

Quoted By:

Also currently reading about taxes, are there any alternative systems to taxes ever proposed?

Anonymous

Anonymous Tue 26 Apr 2022 15:56:43 No.14430707 Report

Quoted By: >>14431979

Currently doing a major in financial Econ. Thinking about switching to a honours in just Econ and adding a math major. Thoughts?

Anonymous

Anonymous Tue 26 Apr 2022 16:14:53 No.14430756 Report

Quoted By: >>14430845

>>14424665
>behavioral economics
bullshit. all you need to know is the following:
>crowds are not wise
>markets are a terrible way to value assets
this goes against orthodoxy, but is clearly evident given the apparent value of a series of shitcoins I could mention. more importantly, it's absolutely true in the """real""" economy too. politicians and influential media are told these simple facts - and warned of the clear imperative to deny them if pressed - in smokey backrooms. hedge funds are 'necessary' to ensure ""real"" valuations. there's a bunch of bright-eyed believers who extol the bullshit. there's a bunch of cynics who play the game. everyone gets rich except the working man.

Anonymous

Anonymous Tue 26 Apr 2022 16:59:18 No.14430845 Report

Quoted By: >>14430866

>>14430756
You don’t know anything about economics

Anonymous

Anonymous Tue 26 Apr 2022 17:11:22 No.14430866 Report

Quoted By: >>14430880

>>14430845
Whatever helps you sleep at night, anon.

Anonymous

Anonymous Tue 26 Apr 2022 17:19:12 No.14430880 Report

Quoted By: >>14430883

>>14430866
It has no impact on my sleep. It’s just obvious to anyone who does know, it’s not even the assertions you make, the logic you use to back them is so weak and ignorant I doubt you even went to college.

Anonymous

Anonymous Tue 26 Apr 2022 17:21:50 No.14430883 Report

Quoted By:

>>14430880
https://en.wikipedia.org/wiki/Cognitive_dissonance

Anonymous

Anonymous Tue 26 Apr 2022 23:49:31 No.14431979 Report

Quoted By:

>>14430707
I think that'd work out, depending how good you are at math. It has more versatility.

Anonymous

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Anonymous Wed 27 Apr 2022 00:51:21 No.14432115 Report

Quoted By: >>14432150

Should I get a finance or physics degree, bros? Which one would let me live the Bateman life?

Anonymous

Anonymous Wed 27 Apr 2022 01:03:25 No.14432150 Report

Quoted By:

>>14432115
Physics, learn C++/Rust/Zig whatever, apply to a HFT firm and get that easy 500k life, maybe 2M+

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