Rob Seward retweeted
Come visit our Burning Man art piece that we installed today. It's a mile-long line of solar powered LED strobes that create a streak of light moving at the speed of the Earth's rotation. You can feel your spin. At 11:00 and far fence.
First place I go when considering a new car: iihs.org/iihs/topics/driver-…
Just walked through Hudson yards. I don't hate it. It's interesting but not inspiring, which seems appropriate for a mall and some office buildings.
While driving today, I asked Siri to set a reminder to call the fire department (I have a question about brush burning) and she called 911.
Rob Seward retweeted
[Dentist waiting room]
Me: [chanting] teeth, teeth-
Other patients: teeth, TEETH
Secretary: [pounding her clipboard] TEETH, TEETH, TEETH!
📷 garadinervi: From: Jorge Luis Borges, Ficciones, Silk-screens by Sol LeWitt, Signed, The Limited... tmblr.co/ZjdcYy2XMShQQ
Rob Seward retweeted
*Keanu whoa*
This is the kind of stuff that waits for you if you poke around in mission data archives. It's well worth the effort. xitter.cf/landru79/status/988490…
I get the impression Piketty wishes the Left would argue about the elasticity of capital/labor substitution instead of the merits of the free market. If they could claim capital could not easily be substituted for labor they would have a good case for increased wages. 7/7
Abandonment of the free market means that prices do not signal demand, thus a central authority that would allocate resources would not know what was going on and operate inefficiently. 6/7
Piketty seems to support that market economy and price system are good. Prices can signal supply/demand and the market is efficient at allocating resources. 5/7
...but because they do not have faith in the market economy and price system. Why not have labor own the capital, and have allocation of resources determined by a system other than the market? 4/7
The left has traditionally argued for Unions and wage increases not because they believe in the inelasticity in the substitution between capital and labor, which would favor direct redistribution (wage increases)... 3/7
This makes it difficult to find the optimal corporate tax rate; i.e. if the capital supply was inelastic, it would be possible to efficiently redistribute wealth to labor through taxes.
If corporate tax rates increase and investment returns go down, then global capital diverts to states with higher returns.