Just reading through @jonatanpallesen's review of @bryan_caplan's book on open borders immigration.
It's funny how immediate feedback and maximum skin in the game make people very careful, whereas slow feedback and 0 skin in the game create wild optimists. https://twitter.com/jonatanpallesen/status/1357380033996816387
It's funny how immediate feedback and maximum skin in the game make people very careful, whereas slow feedback and 0 skin in the game create wild optimists. https://twitter.com/jonatanpallesen/status/1357380033996816387
Today I personally lost $1000 being optimistic that dogecoin would moon again. Markets provide immediate, personalized feedback on your epistemological mistakes.
Virtue singalling = no feedback. @bryan_caplan has no downside when he sings happy songs about open borders.
Virtue singalling = no feedback. @bryan_caplan has no downside when he sings happy songs about open borders.
"Don't worry, we'll have keyhole solutions!"
"Western culture is magical and exogenous!"
etc
"Western culture is magical and exogenous!"
etc
It's very hard to give @bryan_caplan the correct downside risk here because societies are systems that are beyond our current scientific understanding. We can't put him in an open -borders-simulator that literally subjects him to the outcome - good or bad.