people who study economics either end up communist or libertarian losers who play with the stock market for fun. there is no in between.

i think people think that economics classes indoctrinates you into capitalism but for me that was so far from the truth. theyre all like. heres a graph that you can only abstractly relate to the real world and honestly only after things are said and done when it wont help anything. anyways heres the way more important field of econometrics so we can see if public policy or whatever is actually efficient which will change lives

Show thread

econometrics is extremely important but also economics majors arent given the tools to learn coding at most schools. they just assume you come in knowing code if you take the class

Show thread

the only really worthwhile classes i took in economics was financial economics which was like. stocks and how to fuck with them taught by a grad student who paid his way thru school by messing with stocks.
and then also econometrics which is using statistics coding programs and data to see how the policies we have actually effects the real world and it has the ability to change how we govern and do things but people dont like the conclusions the data comes up with so they ignore it LMAO

Show thread

like econometrics helps show that things like police body cameras dont work because of institutional racism and the blue wall of silence and the data heavily implies that any implementation of cameras will not work because there are no consequences anyways but even liberals dont wanna hear that lol

Show thread

so basically i learned that my degree was worthless because learning how to make things better and more efficient doesnt work when the people able to gain from oppression are literally in power, how do you change things?

Show thread

economist: here is some data that shows if you stop giving tax cuts to the rich and invest in community aid and support, then society as a whole is able to florish
capitalist pig in charge: hm thats very interesting. i dont believe its true tho. anyways can you make me a couple mil in this stock?

Show thread

@witchy predictive analytics: yes it shows that preventative healthcare saves everyone involved a ludicrous amount of money, but it also shows which people your health insurance provider can make the most money by refusing to pay for

guess which one of these is a fun piece of trivia and which one of these is a thriving industry

@witchy learning about proxy variables in econometrics really turned the lights on for the rest of the subject's theory lol

@witchy 100% got an economic minor and my public economics class lead me to very different conclusions than my prof had, namely inelastic demand means we must have socialized medicine

@witchy This is the most depressing thread and doesn't surprise me one bit.

Sign in to participate in the conversation
Red Room

R E D R O O M is a small, private instance geared toward goth weirdoes, artists and creatives, run by a queer PoC. Unofficial home of nightcrew, a roost for the bats of the fediverse.


Better red than dead.