Comments on: More on Declining Marginal Utility: Reply to Yglesias and Clarke

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By: huang

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By: uknowbetter

uknowbetter — Fri, 07 Aug 2009 05:04:27 +0000

Denmark is also very tiny and very homogeneous.

By: All Things Equal And Unequal « Around The Sphere

All Things Equal And Unequal « Around The Sphere — Thu, 06 Aug 2009 16:22:24 +0000

[...] Wilkinson responds to Clarke and Yglesias [...]

By: Jamesetc

Jamesetc — Thu, 06 Aug 2009 10:45:33 +0000

“Dems weak on defence” etc etc…Agreed.

By: dg lesvic

dg lesvic — Wed, 05 Aug 2009 18:40:32 +0000

It looks like this discussion is over. So, my final word. Thanks for the freedom of speech here. I haven't found it everywhere.

By: Greg N.

Greg N. — Wed, 05 Aug 2009 02:22:01 +0000

Yeah, but have you read through his book??

By: dg lesvic

dg lesvic — Wed, 05 Aug 2009 02:09:56 +0000

There was a message from one you of in my e-mail, but I don't see it here.

What happened to it?

And, by the way, it was not to heap praise upon me, so don't worry.

By: griffin13

griffin13 — Wed, 05 Aug 2009 01:23:26 +0000

I'm sure the discussion would be welcome here, as long as you don't do it in a tone deaf manner. We're libertarians, after all. First Amendment for life!

I appreciate many aspects of Austrian thought. In particular, I think the concept of the time structure of capital, aka the heterogeneity of capital (Mario Rizzo over at ThinkMarkets has written about this) is a devastating critique of the Keynesian IS-LM model--upon which the idea of fiscal stimulus is based.

That said, to reach a valid, true conclusion from logic alone requires true assumptions (I think; it's been a while since I took logic). If you cannot know your assumptions a priori, then you require empirical evidence to support them. It is as simple as that. Otherwise, you merely end up arguing which assumptions are true and the valid arguments are meaningless. Which is the cause of the shoutfest here in the comments.

By: dg lesvic

dg lesvic — Wed, 05 Aug 2009 00:01:46 +0000

May a very old man offer a little fatherly or even grandfatherly advice to you youngsters,

It's not such a terrible thing to learn something once in a while.

By: jsalvati

jsalvati — Tue, 04 Aug 2009 16:39:49 +0000

I also favor drastically cutting defense spending. But I very much doubt that voters could be persuaded that cutting defense spending is a good idea; the rhetorical responses to such arguments are far too easy to make.

By: dg lesvic

dg lesvic — Tue, 04 Aug 2009 16:21:18 +0000

And Mr Wilkinson, one other thought. I know that you can “disprove” my theory by your empirical method. I knew that before you attempted it. I have known since my earliest days in economics, before you were born, that the empirical method could be used to “disprove” anything in economics. So that was no great accomplishment. The real test is disproving the theory on its own terms.

Can you do that?

By: dg lesvic

dg lesvic — Tue, 04 Aug 2009 16:08:30 +0000

griff,

I appreciate your challenge, and would like to respond to it, but could only do so by means of reason, science, and economics, and it is not certain that that is welcome here

By: dg lesvic

dg lesvic — Tue, 04 Aug 2009 16:04:41 +0000

Mr Wilkinson,

After having said, “there is no such thing as an priori science, much less an a priori social science,” how could you condemn me for discussing methodology?

By: griffin13

griffin13 — Tue, 04 Aug 2009 14:00:10 +0000

dg-

You've made this assertion several times, but I don't remember the logic behind it. I assume you're thinking something along these lines:

Redistribution increases marginal tax rates, which creates a disincentive to climb to new tax brackets, thereby perpetuating and exacerbating inequality.

You can only make this assertion if you know that the disincentive to work is very large. That's a synthetic proposition. You can't know it a priori.