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Question on ban announcements

Spark

Global Moderator
Lol no, I am questioning their smartness. From personal experience, I know many not-so-smart people who have written social science books or completed Maths PhDs. Anyways, not interested in this particular discussion anymore.
before you try and moonwalk your way out of an argument you yourself started for no apparent reason, how about you explain why you've dragged @Uppercut and one other poster/mod whose identity i suspect but don't know for sure just to personally attack them for no apparent reason?
 

nightprowler10

Global Moderator
Lol no, I am questioning their smartness. From personal experience, I know many not-so-smart people who have written social science books or completed Maths PhDs. Anyways, not interested in this particular discussion anymore.
You're questioning their 'smartness' because they don't agree with your takes, which brings us back to the Fox and Friends comparison.
 

weldone

Hall of Fame Member
You're questioning their 'smartness' because they don't agree with your takes
Nope. There are many people I disagree with whose smartness I don't question. To take an example from the tiny CW moderator population itself, I find PEWS way smarter compared to the ones I have mentioned (needless to say, I rarely agree on much with him outside cricket). Smartness doesn't come from writing books and completing PhDs. You'll find that out one day. Till then, I request you not to drag this discussion any more as it's serving no purpose.
 

GIMH

Norwood's on Fire
weldone and I have had our issues in the past but all water under the bridge these days (I think). But I am not sure why Uppercut was dragged into this either. Can't figure it out.
 

weldone

Hall of Fame Member
weldone and I have had our issues in the past but all water under the bridge these days (I think). But I am not sure why Uppercut was dragged into this either. Can't figure it out.
Nothing personal against anyone particular. Was just illustrating why I liked that sentence from SS and what exactly I mean by intellectual stagnation of a group. I could mention a couple other people instead and those examples would be equally valid for this argument.
 
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Uppercut

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i liked the book tbh. if i had one criticism i think that that the broader political consequences of some more historical bubbles were sometimes treated a bit too quickly, which I guess is understandable, but in the case of railroad mania in particular, it was a little surprising.

edit: @Uppercut's book that is. why did he even get dragged into this anyway?
Yeah the railway chapter was unreadable garbage until about a week before the deadline, real problem child of a chapter. I was happy with it eventually but it’s not that surprising if we glossed over something important.

It’s an interesting criticism. I caught myself arguing on Twitter that the south sea bubble was a big old nothingburger that collapsed a government. I guess we focused a lot on good/bad consequences because it was an important part of our argument, and ended up not saying much about massive but ambiguous consequences.
 

Spark

Global Moderator
Yeah the railway chapter was unreadable garbage until about a week before the deadline, real problem child of a chapter. I was happy with it eventually but it’s not that surprising if we glossed over something important.

It’s an interesting criticism. I caught myself arguing on Twitter that the south sea bubble was a big old nothingburger that collapsed a government. I guess we focused a lot on good/bad consequences because it was an important part of our argument, and ended up not saying much about massive but ambiguous consequences.
yeah like pretty much all of Continental Europe had risen up in political revolution within like two years; that's definitely a very big consequence and it would have reinforced your interesting point about the link between the Mississippi bubble and the French Revolution 60 years later because the link was so much more obvious and well established, and even with your conclusion to the 2008 chapter. "May cause epochal political revolution" definitely something to keep in mind wrt bubbles imo.
 

nightprowler10

Global Moderator
Nope. There are many people I disagree with whose smartness I don't question. To take an example from the tiny CW moderator population itself, I find PEWS way smarter compared to the ones I have mentioned (needless to say, I rarely agree on much with him outside cricket). Smartness doesn't come from writing books and completing PhDs. You'll find that out one day. Till then, I request you not to drag this discussion any more as it's serving no purpose.
:laugh: delicious condescension.

I really don't know how to say this without sounding like a ****, but mate, I have 150 people reporting to me and some of them are PhDs and engineers. I have been in a line of work for almost 2 decades where I've had to deal with highly educated people. Yes, some of them make you wonder how they ever got past high school, some others are very obviously sharp but just need a guiding hand and some real world experience, while another subset graduate fully cooked so to speak and ready to hit the ground running. In my job, I have to keep a keen eye on who I am dealing with, as putting the wrong person in an important role could have horrible long lasting consequences. I can usually get a really good idea of who I'm dealing with by how they're constructing their arguments and backing them up. But it is a trait you have to learn from experience, I'm sure you'll get there one day.
 

Uppercut

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yeah like pretty much all of Continental Europe had risen up in political revolution within like two years; that's definitely a very big consequence and it would have reinforced your interesting point about the link between the Mississippi bubble and the French Revolution 60 years later because the link was so much more obvious and well established, and even with your conclusion to the 2008 chapter. "May cause epochal political revolution" definitely something to keep in mind wrt bubbles imo.
Yeah you think you can draw a causal line? Britain and France were the countries that really got a bubble going, and they got away with it. Other countries had schemes too but it’s hard to theorise about them because the groundwork hasn’t quite been done yet.

There’s a paper that argues the British and French bubbles were a way of averting revolution.
 

sledger

Spanish_Vicente
:laugh: delicious condescension.

I really don't know how to say this without sounding like a ****, but mate, I have 150 people reporting to me and some of them are PhDs and engineers. I have been in a line of work for almost 2 decades where I've had to deal with highly educated people. Yes, some of them make you wonder how they ever got past high school, some others are very obviously sharp but just need a guiding hand and some real world experience, while another subset graduate fully cooked so to speak and ready to hit the ground running. In my job, I have to keep a keen eye on who I am dealing with, as putting the wrong person in an important role could have horrible long lasting consequences. I can usually get a really good idea of who I'm dealing with by how they're constructing their arguments and backing them up. But it is a trait you have to learn from experience, I'm sure you'll get there one day.
lol no you're not
 

Anil

Hall of Fame Member
weldone and I have had our issues in the past but all water under the bridge these days (I think). But I am not sure why Uppercut was dragged into this either. Can't figure it out.
he is the not-so-smart guy who wrote an obscure book and more importantly the leader of this vile clique that is bullying everyone else on CW...
 

Spark

Global Moderator
Yeah you think you can draw a causal line? Britain and France were the countries that really got a bubble going, and they got away with it. Other countries had schemes too but it’s hard to theorise about them because the groundwork hasn’t quite been done yet.

There’s a paper that argues the British and French bubbles were a way of averting revolution.
hmm, well 1848 started in France so I don't see how that makes sense. The thesis i always understood it was that the collapse of the railway bubble either caused or greatly exacerbated the financial crisis in northern and western Europe, which in turn fed the general economic downturn, unemployment and hunger crisis of the late 1840s and that's what led to 1848. I'm obviously no historical expert on the matter but I think capital markets in Europe were sufficiently integrated by then that a severe shock in London was always going to have serious downstream consequences everywhere else on the continent with everything else going on.
 

Uppercut

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hmm, well 1848 started in France so I don't see how that makes sense. The thesis i always understood it was that the collapse of the railway bubble either caused or greatly exacerbated the financial crisis in northern and western Europe, which in turn fed the general economic downturn, unemployment and hunger crisis of the late 1840s and that's what led to 1848. I'm obviously no historical expert on the matter but I think capital markets in Europe were sufficiently integrated by then that a severe shock in London was always going to have serious downstream consequences everywhere else on the continent with everything else going on.
Oh **** I was still talking about 1720 for some reason. Weldone is right I’m a ****ing idiot.

I’ll need to look into this but capital markets didn’t (and to a lesser extent don’t) usually matter much economically, especially not in railroads because they weren’t an established part of the economy. We don’t think it was much to blame for the modest financial crisis in Britain so it would surprise me if it hurt economies elsewhere, but that’s just a vague prior and I should definitely look into it.
 

Shri

Mr. Glass
weld one pls don't act in a manner that would get this thread locked

we do want a thread where we can all see how "smart" you really are
 

Spark

Global Moderator
Oh **** I was still talking about 1720 for some reason. Weldone is right I’m a ****ing idiot.

I’ll need to look into this but capital markets didn’t (and to a lesser extent don’t) usually matter much economically, especially not in railroads because they weren’t an established part of the economy. We don’t think it was much to blame for the modest financial crisis in Britain so it would surprise me if it hurt economies elsewhere, but that’s just a vague prior and I should definitely look into it.
Oh with 1720 it was more that it cleared up one of the long standing "if the French royal administrators knew their finances were such a time bomb for so long then why didn't they fix it way earlier before it got out of hand?" questions I had re the French Revolution. "They tried and it blew up in their faces" definitely clears at least part of that up.

re: 1848 the causality may be a bit shaky but i do know that a ton of factory workers and artisans were laid off in the final months of 1847 in Paris and in Vienna as the financial crisis bit, with, ah, unintended consequences the following year. I think I had always figured the railway bubble bursting was the cause of that.
 
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sledger

Spanish_Vicente
I for one am devastated not to satisfy whatever arbitrary (and yet obviously very authoritative) definition of intelligence that's been contrived here
 

honestbharani

Whatever it takes!!!
Yeah the railway chapter was unreadable garbage until about a week before the deadline, real problem child of a chapter. I was happy with it eventually but it’s not that surprising if we glossed over something important.

It’s an interesting criticism. I caught myself arguing on Twitter that the south sea bubble was a big old nothingburger that collapsed a government. I guess we focused a lot on good/bad consequences be

Serious question, UC, will your book make Economics interesting to read?


Taken on a new meaning since last year unfortunately. :(
 

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