The political compass highlights left-vs-right and authoritarian-vs-libertarian. Much neglected is the idealistic-vs-pragmatic dimension.
This post reads as the pragmatist's manifesto.
While I can't disagree with any of these rules of thumb - I'm fairly pragmatic myself - I'm not sure they would actually help in a conversation with someone using a more idealistic framework.
Do you think there's a correlation between idealistic-pragmatic and either axis on the political compass?
(I think you're right that if idealistic people could spot reality when it's pointed out to them, then they'd probably already have noticed. But I think it's still a service to say to the pragmatic "No, you are sane. It's everyone else who's lost the plot.")
I think of myself as fairly idealistic, in that I'll openly take positions such as 'Brexit is good, because Britain being an independent country for future centuries is worth any potential short term economic hit', or 'I don't care if it produces results, giving designer trainers to delinquent kids to get them to stay in school when well-behaved poorer children can't afford them is fundamentally unjust, so we shouldn't do it.' I just also think the world works in a certain way and you have to be realistic about the trade-offs!
Number 7 is a particular annoyance to me and is a red flag in a conversation, indicating that the person I’m speaking with doesn’t really understand their fellow humans.
The only point I would add to your notes is to include a mention of David Friedman's "Hidden Order: The economics of everyday life". As a physicist, I found it really useful for understanding economics, perhaps because Friedman also has a background in Physics and so he explains it in a way that makes sense to me.
How true is 2. for labour - in particular for 9-5 type jobs? E.g. when the threshold for the 45% tax rate went down to 125k, did highly paid workers start working less? (I can't imagine an ambitious lawyer who aspires to be partner would work less. Although they may not be representative!)
Labour market elasticity is pretty well-established.
As with all these things, most people won't change (any more than most people will stop buying eggs if they go up by 10p) - but some will. It may manifest in a decision not to put in the extra hours to go for a promotion, or to not take on an extra responsibility. I personally know people who've made decisions not to take work that would take them into the higher rate tax threshold, or over the student loan repayment threshold.
A recent case where tax had a big impact was with doctors, when pension tax charges caused a significant number to drop their hours (one estimate was 1 in 4 GPs).
The political compass highlights left-vs-right and authoritarian-vs-libertarian. Much neglected is the idealistic-vs-pragmatic dimension.
This post reads as the pragmatist's manifesto.
While I can't disagree with any of these rules of thumb - I'm fairly pragmatic myself - I'm not sure they would actually help in a conversation with someone using a more idealistic framework.
Do you think there's a correlation between idealistic-pragmatic and either axis on the political compass?
(I think you're right that if idealistic people could spot reality when it's pointed out to them, then they'd probably already have noticed. But I think it's still a service to say to the pragmatic "No, you are sane. It's everyone else who's lost the plot.")
That's an interesting perspective.
I think of myself as fairly idealistic, in that I'll openly take positions such as 'Brexit is good, because Britain being an independent country for future centuries is worth any potential short term economic hit', or 'I don't care if it produces results, giving designer trainers to delinquent kids to get them to stay in school when well-behaved poorer children can't afford them is fundamentally unjust, so we shouldn't do it.' I just also think the world works in a certain way and you have to be realistic about the trade-offs!
Brilliant, best substack i have read in months
Thank you!
"If supply is greater than demand, prices will fall, calling demand to increase."
"Hi demand, this is prices. Yeah, I'm calling you to tell you to rise. Yeah, I fell over again. Thanks buddy."
Hyper-prolifif criminals have stolen a 'c' and hidden their crime with an 'f'.
"none mean that criminals behind bars aren’t committing [fewer] crimes."
Also, "But none of these make the first statement first." - should "first" be "false"? And is "...or that it is humane" missing a "not"?
Thanks both, all now fixed!
Number 7 is a particular annoyance to me and is a red flag in a conversation, indicating that the person I’m speaking with doesn’t really understand their fellow humans.
These seem like good rules of thumb more people should bear in mind (including me, no doubt).
On private schools and heroic assumptions: what's your perception of the difference in outcomes between the state and independent sectors?
Is an independent school education not up there with universities as a Veblen good, particularly since there's no £9535 cap on fees?
Oh, and maybe women are just gilding the lily.
And the graphics, what application or software were they created with?
The only point I would add to your notes is to include a mention of David Friedman's "Hidden Order: The economics of everyday life". As a physicist, I found it really useful for understanding economics, perhaps because Friedman also has a background in Physics and so he explains it in a way that makes sense to me.
Good recommendation! I am always pro recommending physicists. :-)
How true is 2. for labour - in particular for 9-5 type jobs? E.g. when the threshold for the 45% tax rate went down to 125k, did highly paid workers start working less? (I can't imagine an ambitious lawyer who aspires to be partner would work less. Although they may not be representative!)
Labour market elasticity is pretty well-established.
As with all these things, most people won't change (any more than most people will stop buying eggs if they go up by 10p) - but some will. It may manifest in a decision not to put in the extra hours to go for a promotion, or to not take on an extra responsibility. I personally know people who've made decisions not to take work that would take them into the higher rate tax threshold, or over the student loan repayment threshold.
A recent case where tax had a big impact was with doctors, when pension tax charges caused a significant number to drop their hours (one estimate was 1 in 4 GPs).
https://commonslibrary.parliament.uk/research-briefings/cbp-8626/