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Second, there is no reason for this beyond a pandering to the greed of bankers and the whims of those researchers they fund or are in cahoots with. Banker’s bonuses should be properly described as economic rents – which are the sums extracted by those with economic power in excess of the return that a genuinely free market would pay. So, let’s not pretend that there is economically virtuous about this. These ‘rewards’ are exploitative.

Variable pay is an economic rent? Whut?

Both Spud and I have been paid variable amounts by Forbes. X amount per page view (1 euro cent per I seem to recall) which is very definitely performance related pay, a bonus. It’s also not an economic rent.

What’s happening here is Spud knowing that “economic rent” is a baddie. Spud also thinks that banker bonuses are a bad thing. So, bonuses are an economic rent – tossery, obviously, but also bad logic.

13 thoughts on “Eh?”

  1. Literally the only Brexit benefit our Tory masters have allowed us to get is higher pay for bankers. (You know, the same guys who did everything possible to thwart Brexit).

    Today’s conundrum is:

    IOLNS

  2. If I could be arsed I’d dig out the Thesaurus and look up the antonym of omnipotent to describe Spud, but I’ve forgotten where it is. Generally, in the 21st century I find I can get by with one verb and two nouns. Either one of the nouns would be an adequate and sufficient description of anything to do with the Spud…

  3. If I could be arsed I’d dig out the Thesaurus and look up the antonym of omnipotent to describe Spud,

    Not an antonym of omnipotent, but omninescient works well enough. (And thanks TMB for the new word!)

  4. “sums extracted…. in excess of the return”

    Sounds like every grant Spud has grifted from gullible charities.

    @Grist “the antonym of omnipotent”

    I’m sure that someone on here opined that the opposite of a polymath was a pollytoynbee

  5. AndrewC

    Speaking of grants, Murphy’s blog output has apparently been slow of late. He explains why

    Right now I am working on:

    A major academic grant application.

    “So, let’s not pretend that there is [anything] economically virtuous about this. These ‘grants’ are exploitative, and the recipients are parasitic cvnts.”

  6. It’s outrageous, pandering to the greed of bankers, when we should be pandering to the greed of accountants.

  7. Spud is complaining about greed? Good grief! Obviously hasn’t got a mirror in the house. Or he mistakenly thinks the tint of green comes from the grass outside the bathroom window.

  8. Dennis, CPA to the Gods

    From the Big Book of Spud:

    Economic Rents = Any payment Spud doesn’t like made to any individual or business entity that Spud doesn’t like.

  9. I thought the Comment from Sebalto was spot on then Dennis came on and was even more on the money, although I question whether ‘economic rent’ is in his glossary as yet (I couldn’t see it)

    Didn’t realise how much content is there beyond his post feed – all utter bollocks but he has to be one of the most prolific commentators I have ever seen. I guess he’s trying to prove the veracity of the Terry Pratchett quote:

    ‘Evil in general does not sleep , and therefore doesn’t see why anyone else should.’

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