#three-sugars-pls

haha I know ur a fan of the show that goes wrong so I thought I’d send some pics of this leaflet :) sorry they’re so bad quality! have u seen these already? has this one already been on telly? I’m considering going… what do u think I should do? I think I’d really enjoy it even though I haven’t watched much of them, any tips for persuading my friends to go with me lol?

Ahhh thank you for asking!! Let’s see... I think a concept worth mentioning is the idea of what a wage is/should be, especially now that raising the minimum wage has come to the forefront of economic policy debates.

Economists use the idea of “perfect competition” as their standard model. Among other aspects, assuming a market is in PC means those who labor receive the full value of that labor. We refer to this as receiving the “marginal product of your labor.” Given PC, you get to reap the FULL value of your contribution (the margin) to whatever production process (the aggregate) you partake in.

Now we bring in the minimum wage. With PC, the idea of a minimum wage (what we’d call a “price floor” i.e. no business is allowed to charge below a given price) is often decried b/c, going along with the model, it’ll generate unemployment. Unemployment here is measured as the gap between low labor demand and high labor supply. So the classical economic story says “Hey! Firms are now paying workers more than the equilibrium price determined by the market! >:( This means less firms will want to hire now that workers are more costly, and more people want to work now that they can earn more. Boom! Unemployment!”

But get this! Empirically, this has NOT been the case. Two incredible economists, David Card and Alan Krueger, put that classical economic story to the test by investigating the effects of a minimum wage increase in New Jersey circa 1994. And guess what? Employment actually went UP after the minimum wage was instituted! Even further, in the neighboring state of Pennsylvania where there was no min wage increase, Card and Krueger observed a whole ass DECREASE in employment.

Their paper implies that labor markets are significantly(!!!!) imperfect. And if labor markets are imperfect, then it appears workers aren’t receiving the full value of their marginal product of labor, i.e. a PROPER wage.

the idiom ‘to steal someone’s thunder’ (meaning to take something, often an idea, from another person without crediting for it) comes from the theatre. 

the phrase was first used in 1709, when john dennis designed a complicated series of sound effects to mimic thunder for use in his own play; shortly afterward, he attended a showing of ‘macbeth’ in which the his sound effects were used uncredited and without his permission. enraged, he stood up in the theatre and shouted, “see how the rascals use me! they will not let my play run, and yet they steal my thunder!”

tbh it probably changes based on my mood, but at the moment it’s probably these ones (not in any particular order)

dead poets society, idk i watched it for the first time and fell in love. it is how it is.

school of rock, literally dps but happier and younger, also jack black is a legend

the book thief. i’ve never read the book, but i cried so goddamn hard during this movie.

jumanji (the new one). just genuinely a really good film. and once again. jack black is a legend.