UrbanHermitMar 23, 2024
PixelJones

Scottish Nobel-prize-winning Economist, Angus Deaton, just dropped a huge Truth Bomb on his fellow economists.

"[Economists] have largely stopped thinking about ethics and about what constitutes human well-being [equating it] with money or consumption, missing much of what matters to people ... [Without taking into account Power] our recommendations become little more than a license for plunder."

#Economics #Capitalism

https://www.crikey.com.au/2024/03/12/nobel-laureate-economist-angus-deaton-capitalism-power/

Nobel laureate economist savages his own profession as clueless and unethical

Nobel Laureate economist Angus Deaton has delivered a ferocious rebuke to his own profession, saying economists have failed to understand that capitalism is about power.

Crikey
Mar 23, 2024 at 3:09pmWeb
Show threadPixelJonesMar 23, 2024

Here's my attempt at an #AIArt political cartoon for this article.

Note: This is the best of about 20 attempts w/ slight tweaks to the prompt. I got a few w/ fireworks, flames and balloons but no actual "bombs." (Also "truth" is misspelled, LOL)

The prompt:
"Political cartoon of ANGUS DEATON elderly bow-tied economist above the Earth dropping a giant cartoon bomb labeled "Truth Bomb" on the globe, in style of Ralph Steadman, Marty Two Bulls"

Show threadPeter ButlerMar 23, 2024
@PixelJones Watch 5-10 minutes of content on any “financial news” channel like CNBC and it is glaringly obvious that our economics is completely dissociated from the well-being of the populace
Show thread_noelamac_Mar 23, 2024
@peterbutler @PixelJones
About economists.
Show threadAviva GaryMar 23, 2024
@peterbutler @PixelJones truth
Show threadJonathan D. Cope, Esq.Mar 23, 2024
@PixelJones
He's correct in that assumption about traditional capitalism. How could you create an accurate economic model based on traditional capitalism without taking in to consideration its total lack of ethics and total disregard for human well being?
Show threadaxel.Mar 23, 2024
@PixelJones @hypebot what I found off putting in that manifesto is the nativist turn it takes. For me, globalization is not necessarily evil in itself; but today, it definitely lacks labor standards.
Show threadPixelJonesMar 23, 2024

@axeln @hypebot

Right, I'm no economist but I'd say immigration has always been a net positive.

With good class mobility, a striving/thriving middle class could made room for working class immigrants. Now, with stagnant mobility & high cost of housing, healthcare (U.S.) and education, bringing in professional-class immigrants further hurts the middle class.

Still, that's a problem w/ broken policy and institutions, not a problem w/ immigrants themselves.

Show threadDisplay NameMar 23, 2024
@PixelJones @axeln @hypebot immigration is usually indentured servitude. Nobody wants to restart life especially at a later age. You have to work harder for less. Of course it is net positive for the economy. So is slavery. The ideal is not allowing immigration, it is helping those countries become livable so people don't have to risk their lives or work for jobs they are overqualified to do.
Show threadPixelJonesMar 23, 2024

@alper @axeln @hypebot

Well, sure (other than that "immigration is slaverly" nonsense). In a perfect world, immigration & borders are unnecessary because everything's just great everywhere ... but short of that, immigration & "staring over" can at least be humane & better than the immigrant's current circumstances. If opportunities are good then (as proven countless times) even an engineer/doctor who can't seamlessly continue their profession can find ways to succeed. Not slavery - hope.

Show threadaxel.Mar 23, 2024
@PixelJones @alper @hypebot I agree. The problem is always exploitation, whether in the exploited countries of the global South or as cheap undocumented labor in the North. The inversion of it is opportunity and labor protection. The discussion over immigration is superficial or a deception.
Show threadDisplay NameMar 24, 2024
@PixelJones @axeln @hypebot that nonsense is yours, not mine. I recommend a reread .
Show threadJob DestroyerMar 23, 2024

@PixelJones

Sadly that's always been the case, economics thru most of history has just been capitalist apologetics

Show threadMax WainwrightMar 24, 2024
@PixelJones unless he dabbles (very successfully) in the sciences or literature, he has not won a Nobel prize.
Show threadBebef 🦦🇪🇺🏴‍☠️🏳️‍🌈🏳️‍⚧️🚙🐼🥦🚩🏴Mar 24, 2024
@PixelJones Wait, what? There was a time when it was different and they really thought about that?
Show threadLinux and praxis: part of the resistance 🇵🇸 ☮️Jun 5, 2024
@PixelJones 'Externalities' of the Chicago mob.