Everybody ready for more #WealthOfNations? Let's go!
#WealthOfTweets #SmithTweets
More from @AdamSmithWorks
Book II of #WealthOfNations! It's all about stock! Not the kind you fill with chicken and noodles, but the kind that (according to #AdamSmith) makes commercial society go 'round. (II.intro)
https://t.co/FlxQLGdjbW
#WealthOfTweets #SmithTweets
First! A quick review: without division of labor, every person must provide everything they need. No one accumulates or stores up stock. You do what you can with what you have when you have it. (II.intro.1) #WealthOfTweets #SmithTweets
But once the division of labor develops (remember, it’s the secret sauce!) we have so many wants that we can’t provide for them all ourselves. Most of them are provided for by others, and we purchase their labor with our own. (II.intro.2) #WealthOfTweets #SmithTweets
Here's why this all matters when we think about stock: we can’t purchase other people’s labor until we have completed (and been paid for) our own. So we need a stock of supplies to sustain us until we can finish our work and get paid. (II.intro.2) #WealthOfTweets #SmithTweets
Obviously, we need that BEFORE we start working in this way. So to get the division of labor you need the accumulation of stock. It’s an ingredient of the secret sauce. (All the best sauces are made with stock!) (II.intro.3)
https://t.co/wi1HtrmBPb
#WealthOfTweets #SmithTweets
https://t.co/FlxQLGdjbW
#WealthOfTweets #SmithTweets
First! A quick review: without division of labor, every person must provide everything they need. No one accumulates or stores up stock. You do what you can with what you have when you have it. (II.intro.1) #WealthOfTweets #SmithTweets
But once the division of labor develops (remember, it’s the secret sauce!) we have so many wants that we can’t provide for them all ourselves. Most of them are provided for by others, and we purchase their labor with our own. (II.intro.2) #WealthOfTweets #SmithTweets
Here's why this all matters when we think about stock: we can’t purchase other people’s labor until we have completed (and been paid for) our own. So we need a stock of supplies to sustain us until we can finish our work and get paid. (II.intro.2) #WealthOfTweets #SmithTweets
Obviously, we need that BEFORE we start working in this way. So to get the division of labor you need the accumulation of stock. It’s an ingredient of the secret sauce. (All the best sauces are made with stock!) (II.intro.3)
https://t.co/wi1HtrmBPb
#WealthOfTweets #SmithTweets
OK. Chapter 7 of Book 4 of #WealthOfNations is tough going. It's long. It's serious. It's all about colonies.
We can take comfort, though, in knowing that the chapter #AdamSmith says is about colonies is, in fact, about colonies. (IV.vii) #WealthOfTweets #SmithTweets
Colonies were a vexed subject when #AdamSmith was writing, and they’re even more complicated now. So, before we even get to the tweeting, here’s a link to that thread on Smith and “savage nations.” (IV.vii) #WealthOfTweets
The reason for the ancient Greeks and Romans to settle colonies was straightforward: they didn’t have enough space for their growing populations. Their colonies were treated as “emancipated children”—connected but independent. (IV.vii.a.2) #WealthOfTweets #SmithTweets
(Both these things are in contrast to the European colonies, as we'll see.) (IV.vii.a.2) #WealthOfTweets #SmithTweets
Ancient Greeks and Romans needed more space because the land was owned by an increasingly small number of citizens and farming and nearly all trades and arts were performed by slaves. It was hard for a poor freeman to improve his life. (IV.vii.a.3) #WealthOfTweets #SmithTweets
We can take comfort, though, in knowing that the chapter #AdamSmith says is about colonies is, in fact, about colonies. (IV.vii) #WealthOfTweets #SmithTweets
Colonies were a vexed subject when #AdamSmith was writing, and they’re even more complicated now. So, before we even get to the tweeting, here’s a link to that thread on Smith and “savage nations.” (IV.vii) #WealthOfTweets
We have to pause now, because we have to have a whole new tweet thread on #AdamSmith and \u201csavage nations,\u201d because he\u2019s going to keep using this kind of phrase, so we need to talk about it. #WealthOfTweets #SmithTweets
— @AdamSmithWorks (@adamsmithworks) January 4, 2021
The reason for the ancient Greeks and Romans to settle colonies was straightforward: they didn’t have enough space for their growing populations. Their colonies were treated as “emancipated children”—connected but independent. (IV.vii.a.2) #WealthOfTweets #SmithTweets
(Both these things are in contrast to the European colonies, as we'll see.) (IV.vii.a.2) #WealthOfTweets #SmithTweets
Ancient Greeks and Romans needed more space because the land was owned by an increasingly small number of citizens and farming and nearly all trades and arts were performed by slaves. It was hard for a poor freeman to improve his life. (IV.vii.a.3) #WealthOfTweets #SmithTweets
More from Society
global health policy in 2020 has centered around NPI's (non-pharmaceutical interventions) like distancing, masks, school closures
these have been sold as a way to stop infection as though this were science.
this was never true and that fact was known and knowable.
let's look.
above is the plot of social restriction and NPI vs total death per million. there is 0 R2. this means that the variables play no role in explaining one another.
we can see this same relationship between NPI and all cause deaths.
this is devastating to the case for NPI.
clearly, correlation is not proof of causality, but a total lack of correlation IS proof that there was no material causality.
barring massive and implausible coincidence, it's essentially impossible to cause something and not correlate to it, especially 51 times.
this would seem to pose some very serious questions for those claiming that lockdowns work, those basing policy upon them, and those claiming this is the side of science.
there is no science here nor any data. this is the febrile imaginings of discredited modelers.
this has been clear and obvious from all over the world since the beginning and had been proven so clearly by may that it's hard to imagine anyone who is actually conversant with the data still believing in these responses.
everyone got the same R
these have been sold as a way to stop infection as though this were science.
this was never true and that fact was known and knowable.
let's look.
above is the plot of social restriction and NPI vs total death per million. there is 0 R2. this means that the variables play no role in explaining one another.
we can see this same relationship between NPI and all cause deaths.
this is devastating to the case for NPI.
clearly, correlation is not proof of causality, but a total lack of correlation IS proof that there was no material causality.
barring massive and implausible coincidence, it's essentially impossible to cause something and not correlate to it, especially 51 times.
this would seem to pose some very serious questions for those claiming that lockdowns work, those basing policy upon them, and those claiming this is the side of science.
there is no science here nor any data. this is the febrile imaginings of discredited modelers.
this has been clear and obvious from all over the world since the beginning and had been proven so clearly by may that it's hard to imagine anyone who is actually conversant with the data still believing in these responses.
everyone got the same R
this methodology is a little complex, so let me explain what i did.
— el gato malo (@boriquagato) May 30, 2020
a few EU countries provide real day of death data. this lets us plot meaningful curves to show rate of disease change.
what struck me is how similar all the curves were.
everyone got the same shape. pic.twitter.com/bN0hILzoSl
