216700+ entries in 0.07s
mircea_popescu: this matches my experience. the average english speaking "civilised world" young adult can pull on his own something between a dime and a quarter per hour's worth.
mircea_popescu: 25 cents per hour would be above the market-clearing price. Yet he can never reach the productivity of the foreign contractors unless he can get substantial work experience.]"
mircea_popescu: "[Personal experience: I have taken on a recent high school grad (friend’s son) as an intern in my web development business. He was an above-average student in a Harvard University intro CS class and also completed AP Computer Science in high school plus an additional programming class. His current productivity is about 1/100th of a $25/hour Ukrainian or Filipino contract programmer so any wage+benefit package above
☟︎ mircea_popescu: in any case, 150 bucks, almost a full bitcoin. and he didn't even have to shove it up his ass.
mircea_popescu: aka, some countries are just not worth bothering with. the country of africa, the country of north america chief on the list.
mircea_popescu: ment is expected to decline by a much greater percentage than consumption in the short term, and by the same percentage in the long term. In this view, the investment decline is entirely a reaction to the labor market, and not a cause of the low rates of labor usage."
mircea_popescu: "Assuming, as economists usually do in aggregate analysis, that capital enhances the productivity of labor, and labor enhances the productivity of capital, then the efficient reaction to less labor is to have less capital. Investment is the rate of change of the capital stock, so even small reductions in the capital stock may be achieved by large investment reductions for a short period of time. For this reason, invest
mircea_popescu: Leave a Reply You must be logged in to post a comment."
mircea_popescu: civility in your discourse . . . you are, after all, anonymous.
mircea_popescu: ben_vulpes from ritholz site : "Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all
mircea_popescu: the untenability of their position is aka the liar's curse.
mircea_popescu: asciilifeform well obviously. but the problem for hypocrites is : i may at may lesure discuss their affairs in either the nominal terms they put forth or the actual realty involved, and randomly equate one branch with another at any point i feel like.
mircea_popescu: ;;later tell williamdunne btw, were you going to put bitbet bets in scoopbot ?
mircea_popescu: spend more than it costs to run an african/southeast asian village for an entire year to keep a couple tards and their ill behaved, poorly brought up, genetically deffective offspring on reddit.
mircea_popescu: er, even if someone were to offer the adults in the family a $160,000 per year job it would not be rational for them to accept it. If they were ever to lose that job it would take many years of paperwork, bureaucracy, and waiting lists to get back to their current welfare lifestyle."
mircea_popescu: me) in a building with a swimming pool, two gyms, and a variety of other luxurious facilities. Their health care is free through some combination of Medicaid, Obamacare, and a city-run health system. Their food is mostly free through food stamps. They can get cash from TANF and some similar programs. They would need to earn at least $160,000 per year pre-tax to obtain the same standard of living at market prices. Howev
mircea_popescu: "If you live in an expensive city and are acquainted with families collecting welfare the book confirms what you might have noticed, i.e., that it would be irrational for the adults in the family to enter the workforce. Here in Cambridge, Massachusetts, for example, the welfare families that I have spent the most time with occupy apartments with a market rent of about $4,500 per month ($54,000 per year in post-tax inco
mircea_popescu: asciilifeform what's noteworthy in either those cryptome links ?
mircea_popescu: kinda what im inching towards : the plain observation that the odds for this situation so far look like ~1% is something
mircea_popescu: ok, but seems to me the proposition that "if you pick a random number, the odds of it being divisible by 17 are 1 in 17" is fairly uncontroversial.
mircea_popescu: hey. wouldja mind getting into the wot, for one thing ?
mircea_popescu: hm, does anyone remember this excellent write-up of the videogaming industry wrt drivers ? it was a fable-like story, didn't name intel nvidia ati etc but described the interactions with game developers in some intricate detail.
mircea_popescu: asciilifeform 31 too huh. i notice something strange here, brb while i write it up.
mircea_popescu: and so on and so forth, gavin's spoken to "economists" that agree with him except meanwhile they turn out to not exist and he has the support of business except all that business can't get a hundred bitcoin together. in which sense, it is obviously a subsection of the tardstalk forum - those guys got like 1k together to give marquardt so he could leave council housing.
mircea_popescu: ethereum was going to be the bees knees for sure definitely absolutely. it even raised a shitton of btc, allegedly. except... not. not at all, not a little bit.
mircea_popescu: funny how the buterin waterfal works. there's allegedly all these usg "companies" with "millions" in their coffers that have "investors" and whanot. meanwhile nobody can be arsed to buy any amount of their stock at a 50% to 90% discount. for like...a year now.
mircea_popescu: all these imaginary bitcoin businesses and so on that supposedly support him could make a pretty penny bettinbg for the thing they allegedly support at 11:1.
mircea_popescu: they're going to spin and deny and pretend nothing happened.
mircea_popescu: we're going to charge particular ineptitude, and employ ridicule
mircea_popescu: yes yes. in any case, mtgox ended exactly the way faux gpg, or system d, or gavincoin, or the sec or the fbi are gonna end
mircea_popescu: the woman that is the state yields eventually, once squeezed enough. not before.
mircea_popescu: if they can, they'll just fgill it with straw and keep pretending.
mircea_popescu: but think of it this way : never, in the history of tyhe world, did ~they~ ever destroy anything.
mircea_popescu: asciilifeform coinbase is definitely on the chopping block.
mircea_popescu: there is not enough bakshees to pass up the chain, because bitcoin is not fiat. they need > 9k% to be satisfied.
mircea_popescu: asciilifeform the latter. the former only exists in imagination.
mircea_popescu: if you have a deal that says she walks without any money or children, it'll be thrown out.
mircea_popescu: similarly, it can perhaps be argued successfully that the romans had better "social sciences" in the weaponized, political sense
mircea_popescu: i propose to you that for an army of archers, plate armor is much more than our current ceramic plating and woven nylons.
mircea_popescu: and if zenon's arrow in flight discussion is not exactly the latter...
mircea_popescu: out of the crooked timber of humanity, no THE thing was ever made.
mircea_popescu: note that i am not proposing for civilisation to go away
mircea_popescu: asciilifeform this is a very poor excuse for not coming up with better scams.
mircea_popescu: all yes in this pile. all no in that pile. end of story.
mircea_popescu: i suppose the one true differential between lords and peons is the answer to the simple question
mircea_popescu: asciilifeform doesn't that sound like something to discontinue on general principle ?
mircea_popescu: most of them are necessarily unemployable in the real world