The person to look to for explanations of why OCaml/SML and not Haskell is Bob Harper. For example, the module system vs ad hoc polymorphism: https://existentialtype.wordpress.com/2011/04/16/modules-mat... He also has in-depth critiques of laziness-by-default but the one link I found is a 404.
Back when it was introduced as a replacement for Transfer Service 15 years ago or so, the mention of the Latin etymology was always accompanied by a wink...
> As far as know the amount of poor people in the usa is also way higher than in Europe. If we take that into account i'd say that Europe is doing just fine.
That's all included in the article, which admittedly is behind a paywall. He goes into great detail, including purchasing power parity, means vs medians, etc.
And the conclusion is the US generates more wealth for the middle class than Europe does.
My best friend from high school is homeless right now despite my efforts to help him. My best friend from grade school was homeless in my town for a few years(I wasn't aware at first to help). My wife was a social worker. I've had many interactions, albeit brief, with homeless in my city. I'm not exactly ignorant and I'm not sure the fellow from your article isn't an activist with an agenda. I'm also skeptical of the data gathered on the problem. It's probably not very good because in most cities they can't even get an accurate census/count of homeless.
In today's climate in media and academia I'll take extensive personal experience and common sense over "data" and "studies" every time when it comes to societal and political issues. And they have nobody else but themselves to blame.
Noah Smith is no activist. He was a professor of finance and a journalist for the Associated Press, Bloomberg, and other reputable outlets. He now writes a very successful Substack.
One way to think about it: the world you are proposing is equivalent to one where the central bank fully monetizes all government debt. That possibility is a strict subset of the space of possible monetary policies we have today. The Fed could decide to do that, but it would have significant implications. It would push down interest rates substantially, which would (according to conventional thinking) potentially trigger inflation and incentivize various sectors of the economy to shift their portfolios towards riskier assets in an attempt to pursue greater returns. This could have a substantially destabilizing effect.
Another way of looking at the problem: generally, money is printed by banks, not by governments. The liabilities of the banking sector is precisely what we use as money. A bank is a "debt monetizer": it holds assets (often debt) on one side of the balance sheet, and balances that against money as a liability. https://nathantankus.substack.com/p/banks-as-debt-monetizers...
This property holds true for both central banks and private banks. They both print money that is balanced by assets on the other side of the balance sheet.
There are some benefits to this worldview:
- We have a unified model of banking that explains both central and private banks. "“Everyone can create money; the problem is to get it accepted“ -Hyman Minsky
- In a very real sense, all money is backed by something
There's a difference between economics and finance. It is possible to have real economic problems while having sound financial flows. That's what's happening now. Inflation is the consequence: there's more money chasing the same (or fewer) goods. That's not to say that a crash can't happen... because it did in 2020. It can happen again. But under these conditions, we can expect an aggressive recovery (like we just had).
> yet we are in the middle of pandemic, millions get sick every day, inflation 30yr high, supply shortages
None of these things impact the aggregate profitability of the corporate sector. Please read "Where Profits Come From" [1]. The Kalecki-Levy profits equation says:
Profits for the most part come from the "nonbusiness saving" term, which is the government budget deficit minus the trade deficit minus household savings. The numbers are looking very good. [2]
> edit: i can't help but think there will be a counter reaction to the Fed printing dollars recklessly in 2020
> and i'm even more scared Fed will go on a printing spree again to keep the current bubble from popping
It's fascinating to me that in times of outsize fiscal stimulus, people continue to blame monetary policy on all of our economic woes. If you think that monetary policy has a much larger impact than fiscal policy, you have it backwards. Monetary policy has far less impact than is commonly stated. The Fed does not really print money, it swaps one highly liquid US government asset for another. And the size of bank balance sheets do not change when this happens. And repeat after me: banks cannot and do not lend out reserves [3]
No. The persecution of religious minorities in Europe culminated in the Holocaust, which led to the Universal Declaration of Human Rights. Don't blame the minorities who have suffered and continue to suffer.
Both/and, I think. If you don't like "them", and they're religiously different too, then religion becomes one more avenue for you to attack them. On the other hand, if it starts with you not liking their religion, then you can wind up not liking their ethnicity too.
