My last post concluded by expressing an optimism for the future of a world impacted by AI. This conclusion was almost entirely predicated on the fanciful assumption that AI will have minimal distributional effects. I chose to take this approach as a little jibe over the unrealistic assumptions often seen in economic models and in […]
My last post (published over a BA ago) referenced the Keynesian Consumption Function in its approach. The eponym of this laughably oversimplifying economic assumption is largely unknown to those outside of the dismal science. Yet, I believe there exists a compelling argument to consider John Maynard Keynes the next time you’re asked for your dream […]
As a part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the US Federal government made one time payments directly to households. A relatively high income threshold meant that most Americans were eligible for a payment with adults receiving a payment of $1200 and children receiving $500. The intended effect of these checks was to […]
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