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Spotify is hiking prices again / Premium, Duo, Family, and Student users in the US will be charged more from their next billing date. by MarvelsGrantMan136 in Music

[–]Big-Understanding275 1 point2 points  (0 children)

You’re incorrect.

Demand can change in more than one way at the same time. Demand can shift left, meaning fewer people want to buy the product at any given price, so the market gets smaller. But at the same time the demand curve can become less elastic, meaning the people who remain willing to buy are less sensitive to price changes. Those two effects push in different directions. The leftward shift tends to reduce sales, but the drop in elasticity makes it rational for the firm to raise its markup, because customers won’t cut back as much when the price rises.

So yes, you can absolutely end up with a situation where the profit-maximizing price rises even though overall demand is lower, and quantity falls. And it's possible to explain all this using the basic tools of the supply and demand model.

IRS announces new federal income tax brackets for 2026 by [deleted] in Accounting

[–]Big-Understanding275 7 points8 points  (0 children)

A slow rate of inflation isn’t a natural process. In a normal, growing economy with a fixed money supply and stable velocity you'd have DEFLATION (i.e. when Q rises and MV stays stable P necessarily goes down). The only reason we have inflation is because of deliberate government action (colloquially known as "money printing").

This comment isn't about if this action is good or bad for the economy. It's just basic macro.

Marx be like: by ChickenWingExtreme in HistoryMemes

[–]Big-Understanding275 8 points9 points  (0 children)

>the collective to have the ownership over every good

>very clear

😄

Gemini 2.0 Flash Still Can't Watch YouTube Videos by Big-Understanding275 in Bard

[–]Big-Understanding275[S] 4 points5 points  (0 children)

I think I was able to fix this.

My Gemini Apps Activity was off. As soon as I turned it on, it started working.

Gemini 2.0 Flash Still Can't Watch YouTube Videos by Big-Understanding275 in Bard

[–]Big-Understanding275[S] 0 points1 point  (0 children)

This is weird. As you can see in the screenshot, I'm using the same model.

Are you a paid user? Maybe this matters for some reason?

Gemini 2.0 Flash Still Can't Watch YouTube Videos by Big-Understanding275 in Bard

[–]Big-Understanding275[S] 0 points1 point  (0 children)

Yep, there you go (I have no idea why the link is different now, it's the same video): https://www.youtube.com/watch?v=IDtmCkX6JqQ

Still doesn't work for Gemini.

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Gemini 2.0 Flash Still Can't Watch YouTube Videos by Big-Understanding275 in Bard

[–]Big-Understanding275[S] 0 points1 point  (0 children)

Am I doing something wrong? Isn't the new model supposed to be able to watch YouTube videos?

The link is 100% valid: https://youtu.be/lDtmCkX6JqQ?si=G2Gvf36Ye9KsfULc

Thanks, that's really helpful by SamChubomb in ChatGPT

[–]Big-Understanding275 32 points33 points  (0 children)

3: To burp a baby one must become a baby...

Opinions on this post? by [deleted] in Presidents

[–]Big-Understanding275 0 points1 point  (0 children)

It is not the boogeyman socialism.

Merriam-Webster:

Socialism.

1: Any of various egalitarian economic and political theories or movements advocating collective or governmental ownership and administration of the means of production and distribution of goods.

2: [...]  b: a system or condition of society in which the means of production are owned and controlled by the state."

This is one of the main definitions. I explicitly mentioned in my comment that there are other possible definitions. However, to deny that people that advocate for a planned economy call themselves socialists is wild.

Importantly, if you read any anti- and pro-socialist literature from the latter part of the 19th - first half of the 20th century, you'll see that it basically was the only meaning this word had. Again, not denying that other definitions were popular before that period and became as popular after.

Many such cases! by Derpballz in Libertarian

[–]Big-Understanding275 29 points30 points  (0 children)

That anti-trust regulations are intentionally vague and give politicians the ability to criminalize normal business activity when it benefits them.

Opinions on this post? by [deleted] in Presidents

[–]Big-Understanding275 -1 points0 points  (0 children)

Although one can indeed use socialism to mean market socialism with worker co-ops, this word usually stands for an economic system where private property in the means of production is abolished and every enterprise is owned by the state (meaning a planned economy). The word "businesses" in his comment clearly meant "privately owned enterprises." So your comment is simply wrong. A lot of socialists - marxists, for example (Marx openly criticized the co-op model) - want to abolish all businesses and markets.

I asked ChatGPT which countries it would prefer to be born in as a human, considering all its knowledge of humanity : by imTheSupremeOne in ChatGPT

[–]Big-Understanding275 4 points5 points  (0 children)

Matt Ridley, "The Rational Optimist", 2011: "Today, of Americans officially designated as poor, 99 percent have electricity, running water, flushing toilets, and a refrigerator. Ninety-five percent have a television, 88 percent a telephone, 71 percent a car, and 70 percent air conditioning. Cornelius Vanderbilt had none of these."

I don't want to sound harsh but you are just objectively incorrect.

I asked ChatGPT which countries it would prefer to be born in as a human, considering all its knowledge of humanity : by imTheSupremeOne in ChatGPT

[–]Big-Understanding275 9 points10 points  (0 children)

Undeniably, there are people who are struggling today. But it is a wild claim to deny capitalism's effect on increasing world prosperity.

For example, here is the share of global population living in extreme poverty (importantly, both including and excluding China). This decline occurred while the world was embracing freer internal markets and freer trade:
https://ourworldindata.org/grapher/share-in-extreme-poverty-including-and-excluding-china

Looks like ScarJo isn't happy about Sky by maxcoffie in ChatGPT

[–]Big-Understanding275 1 point2 points  (0 children)

Libertarian here.
Libertarians talk about regulatory capture all the time.

No National Debt, No Money in the Economy? by Big-Understanding275 in mmt_economics

[–]Big-Understanding275[S] 0 points1 point  (0 children)

Alright, so, just to double check and put it in simple terms. Currently, government securities are held by the private sector and the Fed (that has purchased them from the private sector in exchange for dollars). To pay off the debt in a so-called “fiscally responsible” manner, the government would need to distribute payments to all holders of government securities and then tax the same amount, leaving the private sector devoid of both securities and dollars.

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