I'll be sure to alert the committee and my Game Theory prof ;)

Didn't know that was what it was called (I'm PE not E so some gaps) but after a quick Google... yeah, that's roughly what I had in mind.

I.e., there's a crowding on the firm-level planning, which leads to a skew in estimates of near-term future aggregate demand. When the real demand fails to match those estimates you get unemployment.

Hence why Keynesian policies work - they correct the reverse expectation of demand collapse.

In theory, you'd expect that to be counterbalance by under-hiring at some firms. But that assumes randomly distributed information biases, and per Shiller etc. we know the biases crowd and the bigger problem is time horizon mismatch.

So unemployment becomes a time horizon market failure...

There's a little bit of chicken-egg problem here, though, if we assume the reason the market is a generally efficient distribution mechanism is due to aggregate information effects from diverse actors.

Individual unemployment can be due to poor firm planning and cyclical over-hiring.

... that doesn't mean online mutual aid is a good answer. Or that we should assume people regularly posting gofundmes are legit.

For that matter, our system is so shit that legitimate ones are literally risking their benefits if they have regularly successful campaigns.

My little sister is on SSI and I've been with her for the whole process. I did the HR work for a new hire on SSDI and a tiny org at my last job and was very careful about schedule and pay rates to keep her under the caps.

I'm quite familiar with how horrendous our system is...

There were 3 things going on simultaneously, that both communist hunters and communists want to conflate.

1) quest for actual Communist spies working for the Soviets
2) quest to purge certain sectors of society (like Hollywood) of Communists and fellow travelers supposedly corrupting society...

[googling] fuck i have got my terminology wrong

bsky.app/profile/john...

anyway ICE cars are sighted nonstop, abductions continue at a high rate, and school absenteeism remains about 50% as tens of thousands of families remain in hiding. the city is being economically flattened. aftermath I guess

Also, like, Schmitt is writing about the Weimar Republic, a famously competent and well-established regime with absolutely no other problems whatsoever.

A little odd to say that, admittedly, given his time at the Bank under Stiglitz, etc. I have a similar temperament but probably a thinner skin, which may explain it. I dunno.

Anyway his arguments aren't always obvious to a lot of people, and are often orthogonal to the mainstream conversation.

He's an interesting but also odd guy. We interacted a bit at UCSD, I interviewed him a little about his time at the Bank, etc. He's extremely principled, and knows the right people, but is also an older autistic guy who cares more about getting things right than networking, I think.

I their defense on that one, he was quite good at *saying no* to whatever he wanted.

But that's a big difference to doing anything positive.