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3 Myths of Automation

Do you believe that automation increases/decreases the economic pie?
I think it increases the pie because of the same reason robots won't substitute humans, they compliment us in so many ways, as Susskind says, making the work more valuable.
Have economists fallen victim to the intelligence myth? Does it matter either way?
I believe that economists have fallen for the intelligence myth but it doesn't matter either way.

I think that productivity should not be sacrificed to give other work. The productivity will eventually give more work as demand rises so really, productivity creates work.

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How Facebook, Amazon, and Google manipulate our emotions

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How Facebook, Amazon, and Google manipulate our emotions

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Do you believe that behavioral economics takes advantage of the consumer?
Yes, behavioral economics uses the vulnerable emotions that people have to make them buy their product, which is manipulation.  Manipulating people isn't fair because people can't control their emtions fully all the time, it's just not possible.
Sixty Four Billion dollars has been paid by walmart in taxes: Is this tax burden too much or too little? Why?
It is too little because of Walmarts size. There are so many walmarts in the world and they are so successful that they should have to pay a tax that fit the profit income that they make.
GDP of these companies has outpaced India, should these companies be regulated? Should they have "power" like India, Russia, Us, etc?
The success of these companies have never been regulated before nor should they start now. By regulating these companies it would mess up the flow right now of economic growth since these companies are leading the way. Economic growth is essential to our economic system so we cannot mess with the flow by regulating these companies. No they should not have power like India and the US because they already have what they need to be successful, like a wide consumer range and power to produce and get out products to the consumers.
Comment on "job loss" as it relates to these topics.
These companies may be putting some other companies lose employees and making them close, more jobs are being offered by these large companies as they make more money and expand. For example, say Amazon put FedEx out of buisness one day, all those FedEx workers then would end up working for Amazon or UPS. So by growing and gaining more money, Amazon provides jobs and even helps other companies succeed by making previous competitors come to work for them.

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How I learned to read and trade stocks in prison      (March 14)

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How I learned to read and trade stocks in prison      (March 14)

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60 percent of the US public has less than 1000 dollars in savings. What extent is the US economic system to blame?
The US economic system much to blame. Our economic system doesn't help those who don't know how to invest and spend responsibly, but at the same time, people have the responsibility to learn these things, so both go hand in hand.
50 percent of the US population is considered to be financially illiterate. How would you fix this? Does it need a solution?
I would suggest that each state holds classes in different cities to help teach financial aspects and it definitely needs a solution. If you are financially illiterate then how can you expect to make it through life without becoming broke or even homeless.
To what extent do you believe financial stability is possible for an individual 18 to 24 in the US?

I believe it's very possible. If kids go through school and learn about this, the I believe that upon graduating, they can support themselves or at least know what to do in order to support themselves.

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How should we balance the need for economic growth with the reality of limited/finite resources?
We can stop using the amount of resources we currently are since many of them we want more of than we need. By reducing how many resources we use, it still allows for growth, just on a smaller scale.
According to economic analysis, it's better to be proactive to this situation rather than reactive. To what extent do you think economic policies can make change?
I think that the policies can make great changes in order to help consumers and resources. The changes can help reduce the amount of wasted resources saving what we will need in the future.
What is the relationship between a government and its economy? (National, local, international)
Most government decisions are based on the economy and how it's thriving. If the economy isn't doing well, then the government can't fund as many things and can't allow advancements with military for example.
Do you believe that the global economy is dependant on big industry?
Yes, big industry provides the most money for the economy as it thrives but it can also lose money if it fails or drops in productivity. Big industries feed the circular flow model with the resources it provides and the jobs it provides.

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What does "better off" mean to you?
To me, being better off means that you aren't struggling to get by on the income you make. If you are better off, you have the financial ability to do the things you want to do, like go on vacation, or maybe get that sports ticket you want. If you are better off, you have the freedom to do whatever makes you happy.
How should a nation's growth/satisfaction be measured? By whom?
A nation's growth and satisfaction should be measured based on how the nation provides for its people. If a nation is growing in terms of industry and providing jobs for the people of the nation, then the nation should be seen as growing and a census should be taken among the people to see if they are satisfied with how things are running. The people ultimately should decide satisfaction and growth should be measured by industry.
The poverty rate is often seen as a statistic, not the humans behind it. What would you suggest as a solution?
First of all, poverty can be avoided by some but they chose not to. Many people living in poverty can find a job and be able to provide for themselves or their families, but the fact is, some people are lazy. The people who try to provide and take on multiple jobs that live in poverty should be the real statistic. To see them as more than a statistic, however, you must take into account how they live and work. Do they live in a nice apartment so that they can't afford food, or do they live in a crappy apartment and can feed themselves. People live in poverty in different ways, so to stop seeing people that live in poverty as a statistic, you need to know what poverty really is.
"Universal Income" is increasingly controversial. Can that/should that become a reality?

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To what extent should this industry be regulated?
I don't think that the industry needs to be regulated much, if at all. People make the decision on their own to buy shoes for a ridiculously high prices, then that's what they want to do. There's nothing that needs to be done to the industry as long as they keep running the way they are now and don't start getting out f control.
Do you agree that sneakers can be an investment opportunity given the "information" available?
I think that this could definitely be an investment opportunity. The way that limited shoe prices go up, buying a limited shoe the first time it comes out for a lower price means that you could gain a profit off them in the future when people are willing to pay thousands of dollars more than you did for them. Also, since the industry is doing so well the way they're running, investing would set you up for success too, Nike wouldn't even know that by releasing a limited shoe 3 or 4 times over the years that they are helping the first time buyers to gain profit.
Is Nike manipulating the "market" unfairly?
There isn't a set way to judge what is fair and unfair in the "shoe market" since the supply and distribution is so high. The way people want to sell and buy shoes is up to them, and if people thought it was unfair, then Nike wouldn't be so successful.