Emissions trading broken?

[Razgovory]

If you are going to troll, you should do better then simply adopting Berkut's thing.  I mean, you have enough unpleasant qualities that you don't needed to borrow those of other people.

[fhdz]

  Exactly.  Allende's fate is an example of what happens when one tries to press a small political edge into a revolutionary mandate.

Bingo.

[Razgovory]

  Exactly.  Allende's fate is an example of what happens when one tries to press a small political edge into a revolutionary mandate.

Bingo.

I don't know if a military coup is the expected result of trying to, "press a small political edge into a revolutionary mandate.".

[derspiess]

  Exactly.  Allende's fate is an example of what happens when one tries to press a small political edge into a revolutionary mandate.

Bingo.

I don't know if a military coup is the expected result of trying to, "press a small political edge into a revolutionary mandate.".

In Latin America?  Are you serious??

[Razgovory]

Oh, I thought this was meant in general.

[The Minsky Moment]

The fact is that if GOP candidate came up today espousing core ideas of Milton Friedman in the 70s - negative income tax and rule-based central bank following counter-cyclical monetary policy - he would be pilloried by the entire field as an elitist closet liberal.

[Admiral Yi]

The fact is that if GOP candidate came up today espousing core ideas of Milton Friedman in the 70s - negative income tax and rule-based central bank following counter-cyclical monetary policy - he would be pilloried by the entire field as an elitist closet liberal.

The Earned Income Tax Credit passed under a GOP House IIRC.  I've never heard anyone propose abolishing it.

Not sure why you think Freidman's money supply rule would be pilloried by the entire field as an elistist closet liberal plan.

Not really counter-cyclical either.  It's cycle-neutral.

[dps]

The fact is that if GOP candidate came up today espousing core ideas of Milton Friedman in the 70s - negative income tax and rule-based central bank following counter-cyclical monetary policy - he would be pilloried by the entire field as an elitist closet liberal.

The Earned Income Tax Credit passed under a GOP House IIRC.  I've never heard anyone propose abolishing it.

Not sure why you think Freidman's money supply rule would be pilloried by the entire field as an elistist closet liberal plan.

Not really counter-cyclical either.  It's cycle-neutral.

The earned income credit doesn't really function as a negative income tax, though.  It's effective function is to act as a government subsidy for low-income people to make babies.

[The Minsky Moment]

The Earned Income Tax Credit passed under a GOP House IIRC.  I've never heard anyone propose abolishing it. 

It didn't.  It passed under a Democratic controlled House and IIRC that was so every time is was expanded.  What is definitely true is that prior to the Obama presidency, EITC had considerable of bipartisan support.  But there have always been elements in the GOP that have opposed it (eg the infamous WSJ "lucky ducky" op-ed) and when Obama made EITC expansion part of the stimulus bill, opponents came out of the woodwork. 

Not sure why you think Freidman's money supply rule would be pilloried by the entire field as an elistist closet liberal plan.

Because two of the four GOP candidates left have proposed moving to some kind of gold standard, and a third (Santorum) has proposed abolishing the dual mandate and auditing the Fed, which is in tension with Friedman's view that the Fed should actively and aggressively expand money supply to support growth when depression looms.  The fourth- Romney - has advocating firing Bernanke based on Romney's opposition to QE, which is something that Friedman approved of doing in the proper circumstances.

Not really counter-cyclical either.  It's cycle-neutral.

It's counter-cyclical in impact, because the effect is that the central bank's issuance of high powered money must expand during a depression and contract during a boom, in order to keep the broader monetary aggregates stable.  (MF wanted to target M2). 

[Barrister]

Pinochet is not an example you want to use if you want to maintain moral idealism.  It is certain that he was a murderous thug.  He wasn't in Assad's or Hussein's league, but a thug he was nonetheless. 

At the same time, it is also nearly certain that Chile under him went in a much better direction that it would've gove with Allende at the helm.  The economy was already in the dumps when he died, and in any case we now know that Marxism is never good news for the economy.

Good luck trying to calculate how much extra GDP is enough to justify a murder of one opposition activist.

I have no desire to use Pinochet as any kind of moral compass. He was brought up as "omg he is proof that Friedman was an evil fraud"

I don't recall saying the words "Evil" or "Fraud".

Your words, for posterity:

Friedman is a bit notorious because of his relationship with Chile.  I get the impression that he and other libertarians value economic freedom over political freedom, and really don't care that much about civil rights.

YOu did not say evil or fraud, but what you said was fairly ridiculous because Friedman had no meaningful relationship with Chile, and he cared very much about civil rights.  It's just that since he was, you know, an economist, he wrote a lot more about economics and how civil rights impacted his chosen field of study.