BC SOCIETY
Saved by @SteveeRogerr

Everybody ready for more #WealthOfNations? Let's go!

 The third sort of rude produce is the kind where human attempts to cultivate and improve it produce unpredictable results. Examples include wool and animal hides. (I.xi.m.1) #WealthOfTweets #SmithTweets
It seems like the price of these should rise right along with the price of meat, but Smith says “Not so fast!” (I.xi.m.3)
#WealthOfTweets #SmithTweets
Because this sort of produce travels much better than meat, the market is much much larger. And we all know that more competition drives prices down. (I.xi.m.4–5) #WealthOfTweets #SmithTweets
And it all gets more complicated when government gets involved, like it did in the English wool industry. (Isn’t that always the way? You should see the forms we have to fill out to get each tweet govt. approved!) (I.xi.m.8) #WealthOfTweets #SmithTweets
Violence and artifice control price of English wool! 1. Forbidding export 2. Duty free Spanish imports 3. Irish can only export wool to England. English wool stuck as an English (not global) product, but competes w/ Spanish and Irish wool (I.xi.m.8–9) #WealthOfTweets #SmithTweets
Smith seems really frustrated by the lack of historical data on the price of hides. We embrace the mystery. (I.xi.m.10) #WealthOfTweets #SmithTweets
Price of hides has definitely dropped recently, though, and this is because the tanners aren’t as good at rent-seeking as the clothiers! (I.xi.m.11) #WealthOfTweets #SmithTweets
When prices for hides and wool drop, the price of meat rises because farmers have to cover costs of land and feed. (I.xi.m.12) #WealthOfTweets #SmithTweets
Since the market for these goods is global, demand and supply in other countries controls price much more than whatever improvements we can make in overall wealth or producing hides and wool. (I.xi.m.14) #WealthOfTweets #SmithTweets
Fish are tricky too, because there’s limited water that can support each type of fish, and the amount of work and $$ that goes into traveling farther to catch more fish and get them to market is enormous. (I.xi.m.15) #FishAreTricky #WealthOfTweets #SmithTweets
Mining is basically fishing, but more so. (I.xi.m.17–21) #WealthOfTweets #SmithTweets
But (and remember we are still, OMG STILL, in the Digression on Silver) even if we discover whole new mines, they don’t really affect the price of money. They only affect trifling superfluities like how much gold and silverplate there is.(I.xi.m.21) #WealthOfTweets #SmithTweets
If you mail us a silverplated tea set we, the SmithTweeters, hereby promise not to call it a trifling superfluity. Just saying. (I.xi.m.21) #WealthOfTweets #SmithTweets

More from @AdamSmithWorks

@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
OK! Who's ready to talk at great length and in great detail about prices? #AdamSmith, that's who! (I.v) #BuckleUp because this is the first of three chapters Smith prepped us for yesterday. (I.v) #WealthOfTweets #SmithTweets

We're about get into some #LaborTheoryOfValue. (I.v.1–18) We, the SmithTweeters, are firmly on board with the #MarginalRevolution (and we are fans of @MarginalRevolt). But Smith's theory is more complex than is often recognized. #WealthOfTweets #SmithTweets #ValueHowDoesItWork

The caricature version of the #LaborTheoryOfValue is that the longer you work on a thing, the more it must be worth. This is obviously wrong, and Smith (and Marx, btw) would agree that it's wrong. (I.v.1–18) #WealthOfTweets #SmithTweets

(We know this version of the #LaborTheoryOfValue is wrong because we once carved a giant statue of #AdamSmith out of haggis. Took us hours. No one wanted to buy it. Go know!)

Again: We think the #LaborTheoryOfValue as it's actually presented is wrong, too, but we should at least understand how it's wrong and where it's right. (I.v.1–18) #WealthOfTweets #SmithTweets
SOCIETY
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
In yesterday’s discussion of colonies, #AdamSmith was really good on a lot of issues—particularly on condemning murdering Indigenous people, despoiling colonies in search of gold that ain't there, and then pretending you're doing it all for God. #WealthOfTweets #SmithTweets

Today, Smithketeers, will not be such a feel-good day. You will not be heartened. You might want to pour a cup of tea. Or something much stronger. #WealthOfTweets #SmithTweets

Smith starts by noting that the colonies of developed nations where the “natives easily give place to the new settlers” get rich and cultured faster than anywhere else.

That phrase “give place to” cloaks a lot of horrors. (IV.vii.b.1) #WealthOfTweets #SmithTweets

The reason colonies can do so well (for everyone but the Indigenous peoples, that is) is that settlers import the social, political, and technical know-how from the old country. (IV.vii.b.2) #WealthOfTweets #SmithTweets

There’s lots of land, which means you need lots of workers and are willing to pay them high wages.
Workers + land + money ➡ kids!
And more people ➡ prosperity. (IV.vii.b.2–3) #WealthOfTweets #SmithTweets
SOCIETY
Advertisement
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Smith Fans! It’s the conclusion of chapter 11 of #WealthOfNations!! We made it! (1.xi.p.2) https://t.co/Tb0JBqJs9E
#WealthOfTweets #SmithTweets

Improvements make things cheaper, but they also raise the rent of land, which makes landlords richer, and lets them purchase more labor. Neglect and decay, though, make everyone poorer. (1.xi.p.2–6) #WealthOfTweets #SmithTweets

Smith says landowners won't mislead the public about what’s in the public interest, because their interest aligns with the public interest. Also they're lazy and kind of dumb, because they don't have to do anything to make their money. (I.xi.p.8) #WealthOfTweets #SmithTweets

The kerfuffle over the Enclosure Acts might have given him second thoughts. (1.xi.p.8) #WealthOfTweets #SmithTweets

Laborers suffer the most when a society is in decline. But they are incapable (‽‽‽‽‽) of understanding how they are tied to society at large. (1.xi.p.9) #WealthOfTweets #SmithTweets
SOCIETY
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Today we come to the topic @EconTalker has called one of the more underemphasized lessons from #AdamSmith: That the Division of Labor is limited by the Extent of the Market. a.k.a Book 1 Chapter 3. #WealthOfTweets #SmithTweets

We love ya, Smith, but we see why people don't dwell on this chapter. Unless they are really into the navigable waterways of the late 18th century. (I.iii.3–8) #WealthOfTweets #SmithTweets #RiverEnthusiastsRejoice


The first two paragraphs of this chapter are the meatiest. Then things get a little...#WealthOfTweets #SmithTweets


The more people there are to trade with, the more labor can be divided. Wealth of the people included in the market increases disproportionately as the division of labor progresses. Because division of labor is special sauce. (I.iii.1-2)#WealthOfTweets #SmithTweets

This seems like common sense. No one to trade with? You won't produce stuff for trade. Instead you'll produce the things you need, and because you need many things you won't specialize. No specialization, no division of labor. (I.iii.1–2) #WealthOfTweets #SmithTweets
CULTURE
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Today we start the last book of #AdamSmith's #WealthOfNations.

Allons-y!

#WealthOfTweets #SmithTweets


Book Five of #WealthOfNations is all about the duties of the sovereign and how to pay for them. In this first part of chapter 1, we’re talking about the cost of defense. (V.i.a) #WealthOfTweets #SmithTweets


The sovereign's duty to protect the country can only be done through military force, but how you get the money to pay for that military varies according to time, place, and circumstance. (V.i.a.1) #WealthOfTweets #SmithTweets

In a hunter/gatherer society, everyone is always already a warrior, and since there isn’t really a sovereign or nation, no expense is required to maintain defense. Much the same is true of shepherding cultures. (V.i.a.2) #WealthOfTweets #SmithTweets

Armies of hunters are limited in size to a few hundred men (as they have to sustain themselves through the available game). Shepherds can muster larger forces because they bring their sustenance in the form of flocks. (V.i.a.3–5) #WealthOfTweets #SmithTweets
CULTURE , BOOK

More from Society

Robert #Resist Sandy
Robert #Resist Sandy
@frodofied
Real talk.

The right as spent years trying to paint @NancyPelosi & @HillaryClinton as extreme leftists who will take your guns, sterilize your sons, outlaw Christianity, and tax you at 80%.

Meanwhile...

The far left has tried to insist that they were both Republican-lite.

1/

Some on the far left call them war mongering neoliberal corporate owned whores.

That's on a good day, for both.

None of these charges, by either side, are remotely true of course. Not that this matters to the people putting this shit out there.

2/

The facts are these.

@HillaryClinton and @NancyPelosi have been fighting people, usually white men, for tnings their entire lives.

With little respite.

At times they have had to make impossible choices and compromises just to beo let in the door. Most women have.

3/

It must be easy to be some 26 yo white dude who has never had anyone tell him no his whole life to sit in judgement of women like them.

"How dare she..."

...do what was necessary to get a place at the table.

...do exactly what men have been doing w/o your disapproval.

4/

Let's face it, most men suck when it comes to issues that don't pertain directly to their own self interests. White men are even worse. We just are.

Most men especially suck when it comes to women's issues and I mean really suck.

How many left leaning men fell to #MeToo?

5/
SOCIETY
KeyserSozeBro
KeyserSozeBro
@KeyserSozeBro1
My little Jacob Wohl story: August 2016, we're sitting around the trading turrets at my office on a bored to tears slow day. Our receptionist said someone was here for his 2pm appointment. None of us had an appointment on schedule. Who is it? we ask? Some guy named Jacob Wohl 1/

Jacob Wohl, for those out of loop, gained quite a bit of notoriety for becoming the youngest guy to ever get himself barred for life from the financial industry. Now he's waiting in our lobby to pitch something. We're a large merchant bank. 2/

Send him in, we said. In walks young Jacob asking to be seeded with $25mm to start a new hedge fund in exchange for an ownership stake in it. Oh, & he needs an office. And a Bloomberg station. And needs to borrow staff until he can hire some guys. And he needs a leased car... 3/

And he needs an answer today. Right now. Because there's a competing offer from Izzy Englander's firm Millenium (we know those guys well). We fight the urge to literally start laughing, but do ask him...hey, you the same guy who got banned by regulators? He didn't even flinch 4/

He went on about that being untrue & handed over a letter he said was from his lawyer who had confirmed he was not barred, had been vindicated but it 'just wasn't in the system yet at the SEC, CFTC'...whatever that means. 5/
SOCIETY
Advertisement
\U0001f1fa\U0001f1f8 SheNerd the Deplorable \U0001f1fa\U0001f1f8
🇺🇸 SheNerd the Deplora...
@shnerdly
For those traveling to DC on Jan. 6th, I'm a native to the area and I would like to share with you what I will be doing this time and what I have done for the last two rallies...1/
SOCIETY , TRAVEL
Hemani Bhandari
Hemani Bhandari
@HemaniBhandari
Thread

"Main jab mar jaun to meri alag se pehchan likh dena,mere lahu se meri peshani pr Hindustan likh dena(After I die,write my identity differently,with blood,write India on my forehead)”- msg on wall in Brijpuri. It's faded.

A year on,we revisit where #DelhiRiots broke out.


Feb 2020 Vs Feb 2021
While the hustle and bustle of the area has returned in severely hit Shiv Vihar, some cracks in the walls, a black smoke patch on the door, a few burnt utensils and a pile of photographs remind the victims of the days and nights they lived in “terror”.


Khushnaz’s daughter Alfiza was six days old on February 25 when the riots broke out near her house. She recalled pressing her palm against the infant’s mouth to prevent her voice from being heard as she cried.


Shawra Begum’s single-storey residence near Medina Masjid has still not been repaired. Looking at the broken and burnt taps of her washroom, Shawra said, “That time reminds me of death.”


Sitting inside his house near Auliya Masjid, Nizamuddin had tears in his eyes thinking about the time. Over 5,000 men were walking and running amok on the streets destroying everything and everyone, he said.
SOCIETY
\U0001f30d Scott Newgent \U0001f30d
🌍 Scott Newgent 🌍...
@ScottNewgent
A thank you to Twitter for teaching me a trans man the truth about transgenderism. I’m no longer lost!

A thread for the headships at Twitter:

What transgenderism is and what it is NOT - What I learned as a Twitter 👩‍🎓 graduate thread.

1.Abigail Shrier & JK Rowling are leaders of a world wide cult that believes woman are equal to men and must be stopped @AbigailShrier

2.I am a real man, bio is wrong; I gave birth through my penis hole that I was led to believe by evangelicals was my vaginaWICKED Christians

3.Just because I transitioned doesn’t mean I know more than a 6 year old & I should be ashamed & embarrassed to believe I know more than people or children who have never been through or witnessed or dealt with medical transition

4.Gender Dysphoria is NOT a mental illness & should never be challenged & medical transition should be administered at, “Mom/Dad I feel like a..” IMMEDIATELY NO QUESTIONS ASKED

5.Children know more than adults & understand consequences without having to go through situations, educational purposes, or have a fully developed brain for hindsight - it’s quite amazing.
SOCIETY

You May Also Like

Enigma
Enigma
@ainittomai
The Eye of Horus. 1/*


I believe that @ripple_crippler and @looP_rM311_7211 are the same person. I know, nobody believes that. 2/*

Today I want to prove that Mr Pool smile faces mean XRP and price increase. In Ripple_Crippler, previous to Mr Pool existence, smile faces were frequent. They were very similar to the ones Mr Pool posts. The eyes also were usually a couple of "x", in fact, XRP logo. 3/*


The smile XRP-eyed face also appears related to the Moon. XRP going to the Moon. 4/*


And smile XRP-eyed faces also appear related to Egypt. In particular, to the Eye of Horus. https://t.co/i4rRzuQ0gZ 5/*
CULTURE
Kavita
Kavita
@Kavitastocks
There are many strategies in market 📉and it's possible to get monthly 4% return consistently if you master 💪in one strategy .
One of those strategies which I like is Iron Fly✈️

Few important points on Iron fly stategy

This is fixed loss🔴 defined stategy ,so you are aware of your losses . You know your risk ⚠️and breakeven points to exit the positions.
Risk is defined , so at psychological🧠 level you are at peace🙋‍♀️

How to implement
1. Should be done on Tuesday or Wednesday for next week expiry after 1-2 pm
2. Take view of the market ,looking at daily chart
3. Then do weekly iron fly.
4. No need to hold this till expiry day .

5.Exit it one day before expiry or when you see more than 2% within the week.
5. High vix is preferred for iron fly
6. Can be executed with less capital of 3-5 lakhs .
https://t.co/MYDgWkjYo8 have R:2R so over all it should be good.

8. If you are able to get 6% return monthly ,it means close to 100% return on your capital per annum.
ALL , OPTIONSLEARNINGS
Advertisement
Jig's Patel
Jig's Patel
@jigspatel1988
What is best way to sell strangle in Banknifty on an intraday basis
Simple
at 9:45 Open Option chain and check In which strike highest OI change in call side and put side

Sell both option with combine SL
Enjoy easy and simple intraday trading strategy
Today 35000CE and 34500PE
OPTIONSLEARNINGS , OPTION LEARNING , OPTIONSELLING
Jaya_Upadhyaya
Jaya_Upadhyaya
@Jayalko1
DODDA GANAPATHI, BENGALURU
#karnatakatemples

Dodda in Kannada means big. Sri Ganesha here is 18 ft tall in height and 16 ft wide. Dodda Ganesha is also known as Shakthi Ganapathi and Satya Ganapathi.

It is said that Kempe Gowda, the founder of Bengaluru, saw a rock here.


The rock had engravings of Ganesha. His sculptors cut the Ganesha murti from that single rock. Later, a shrine was built around the Ganesh murti.

It is believed that Dodda Ganapathi is the protector of Bengaluru. All auspicious events start by praying to Him.


Benne Alankara is the most famous festival here when about 100 kg of butter is coated over Ganapathi every four years and the rich prasad is offered to the worshippers.

Ganesha is also covered in cream colour and is decorated with golden laces and buttons
@GampaSD


The Dodda Ganapathi murti is believed to be still growing in size, especially towards right.

The weavers from old Bengaluru tie a coconut to their looms before starting work. When the work is completed, they break 100 coconuts here along with the one tied on the loom.
ALL
WORLD OF SANATAN DHARMA
WORLD OF SANATAN DHARM...
@world_sanatan
WHY BABUR NEVER TRIED TO ATTACK SRI KRISHNADEVARAYA ?

A🧵u must read

It is very well known that Babur considered Krishna Dev Raya as the strongest ruler of the entire subcontinent, and Vijayanagar empire the strongest during that time in India.

1/10


The Vijayanagar empire reached its peak during 1509-1529 around the reign of Krishna Dev Raya.

Vijayanagar’s famed elephant brigade 👇

2/10


At his command there were over 50000 elite troops with a regiment of Portuguese gunners and 3200 cavalry with 600 elephants.

3/10

Along with that more than four hundred thousand ( four lakh) peasant levies and irregular military made this empire one of the largest in all of South Asia.

A typical Vijayanagar levie soldier 👇

4/10


During Baburs invasion, Krishna Dev Raya ruled supreme in all of deccan.

In fact, in an all our brawl, Krisha Dev Raya will beat Babur fair and square.

Babur could muster at max 50000 troops with 50 canons.

While Krishna Dev Raya had these numbers in Hampi alone

5/10
ALL