America is in danger of experiencing an academic brain drain
(economist.com)
America is in danger of experiencing an academic brain drain
America is in danger of experiencing an academic brain drain
Latin America's Baby Bust Is Arriving Early
(bloomberg.com)
Latin America’s demographic time bomb keeps ticking.
Latin America’s demographic time bomb keeps ticking.
Americans favor labor unions over big business now more than ever
(epi.org)
For decades, Americans were evenly divided in their relative support of labor unions and big business, but that’s no longer the case. Now, Americans are more likely to side with labor than at any time in the past 60 years. For people whose instincts about economic and political conflicts between unions and big business were honed more than a decade ago, it’s time to update your understanding.
For decades, Americans were evenly divided in their relative support of labor unions and big business, but that’s no longer the case. Now, Americans are more likely to side with labor than at any time in the past 60 years. For people whose instincts about economic and political conflicts between unions and big business were honed more than a decade ago, it’s time to update your understanding.
What happens if investors lose faith in America?
(paulkrugman.substack.com)
I used to be an economics ambulance-chaser — someone who raced around the world to wherever there was an interesting economic calamity. And this international experience probably made me more sensitive than most economists to the way economies that seem to be doing OK can suddenly fall off a cliff into economic crisis.
I used to be an economics ambulance-chaser — someone who raced around the world to wherever there was an interesting economic calamity. And this international experience probably made me more sensitive than most economists to the way economies that seem to be doing OK can suddenly fall off a cliff into economic crisis.
Treasury Yields Soar as Ballooning U.S. Deficit Worries Wall Street
(investopedia.com)
Treasury debt continued its wild ride on Wednesday, with yields soaring amid concerns about the U.S. government’s unsustainable deficit spending.
Treasury debt continued its wild ride on Wednesday, with yields soaring amid concerns about the U.S. government’s unsustainable deficit spending.
It’s So Over, We’re So Back: Doomer Techno-Optimism (2024)
(americanaffairsjournal.org)
Tyler Cowen caused quite a stir when he published *The Great Stagnation* in 2011, claiming America achieved success by eating “all the low-hanging fruit of modern history” and was in for a period of stagnation.
Tyler Cowen caused quite a stir when he published *The Great Stagnation* in 2011, claiming America achieved success by eating “all the low-hanging fruit of modern history” and was in for a period of stagnation.
What happened to American manufacturing is not unusual
(waldrn.com)
President Trump’s chaotic implementation of new tariffs has roiled markets and wrecked decades of international cooperation and free trade agreements.
President Trump’s chaotic implementation of new tariffs has roiled markets and wrecked decades of international cooperation and free trade agreements.
Exploring an Extreme Wealth Line
(neweconomics.org)
It has long been accepted that there is a line beneath which people have too little to thrive or survive. In a period defined by rapidly growing wealth inequities, there is increasing discussion about whether we should also be asking how much is too much.
It has long been accepted that there is a line beneath which people have too little to thrive or survive. In a period defined by rapidly growing wealth inequities, there is increasing discussion about whether we should also be asking how much is too much.
Why does the U.S. always run a trade deficit?
(newyorkfed.org)
The obvious answer to the question of why the United States runs a trade deficit is that its export sales have not kept up with its demand for imports.
The obvious answer to the question of why the United States runs a trade deficit is that its export sales have not kept up with its demand for imports.
Why men feel sad when their wives earn more
(bbc.com)
What we earn can affect our mental wellbeing, especially when we compare ourselves to those around us – and it can negatively influence male mental health.
What we earn can affect our mental wellbeing, especially when we compare ourselves to those around us – and it can negatively influence male mental health.
Revenue effects of Denuvo digital rights management on PC video games
(sciencedirect.com)
In the personal computer video game market, a digital rights management (DRM) technology called Denuvo has been used since 2014 to restrict software usage to legitimate buyers, thereby preventing piracy.
In the personal computer video game market, a digital rights management (DRM) technology called Denuvo has been used since 2014 to restrict software usage to legitimate buyers, thereby preventing piracy.
Why did U.S. wages stagnate for 20 years?
(noahpinion.blog)
A week ago I wrote a post arguing that globalization didn’t hollow out the American middle class (as many people believe):
A week ago I wrote a post arguing that globalization didn’t hollow out the American middle class (as many people believe):
Attack of the Sadistic Zombies – Paul Krugman
(paulkrugman.substack.com)
Republicans in Congress, taking their marching orders from Donald Trump, are on track to enact a hugely regressive budget — big tax giveaways to the wealthy combined with cruel cuts in programs that serve lower-income Americans.
Republicans in Congress, taking their marching orders from Donald Trump, are on track to enact a hugely regressive budget — big tax giveaways to the wealthy combined with cruel cuts in programs that serve lower-income Americans.
The Inequality Myth – Western Societies Are Growing More Equal, Not Less
(foreignaffairs.com)
Spend a few minutes browsing political commentary or scrolling social media and you will discover a seemingly settled truth: inequality in the West is soaring, the middle class is being hollowed out, and democracies stand on the brink of oligarchy.
Spend a few minutes browsing political commentary or scrolling social media and you will discover a seemingly settled truth: inequality in the West is soaring, the middle class is being hollowed out, and democracies stand on the brink of oligarchy.
The Economist's global rip off
(halcrawford.substack.com)
Two years ago I looked into The Economist’s global subscription pricing structure and found a labyrinthine mess that seemed irrational and unfair. For exactly the same digital content, delivered over the internet, prices varied by over 300% depending on the subscriber’s nationality. Subscribers in poor nations like Pakistan and Burundi were paying double the rate of rich nations like Canada and South Korea.
Two years ago I looked into The Economist’s global subscription pricing structure and found a labyrinthine mess that seemed irrational and unfair. For exactly the same digital content, delivered over the internet, prices varied by over 300% depending on the subscriber’s nationality. Subscribers in poor nations like Pakistan and Burundi were paying double the rate of rich nations like Canada and South Korea.
U.S. Downgraded by Moody's as Trump Pushes Costly Tax Cuts
(nytimes.com)
The credit rating of the United States received a potentially costly downgrade on Friday, as the ratings firm Moody’s determined that the government’s rising debt levels stood to grow further if Republicans enact a package of new tax cuts.
The credit rating of the United States received a potentially costly downgrade on Friday, as the ratings firm Moody’s determined that the government’s rising debt levels stood to grow further if Republicans enact a package of new tax cuts.
US loses last perfect credit rating amid rising debt
(bbc.com)
The US has lost its last perfect credit rating, as influential ratings firm Moody's expressed concern over the government's ability to pay back its debt.
The US has lost its last perfect credit rating, as influential ratings firm Moody's expressed concern over the government's ability to pay back its debt.
Apple Used China to Make a Profit. What China Got in Return Is Scarier.
(nytimes.com)
In “Apple in China,” Patrick McGee argues that by training an army of manufacturers in a “ruthless authoritarian state,” the company has created an existential vulnerability for the entire world.
In “Apple in China,” Patrick McGee argues that by training an army of manufacturers in a “ruthless authoritarian state,” the company has created an existential vulnerability for the entire world.
Science funding was already way too low
(gabrielweinberg.com)
Cutting federal research funding is extremely short-sighted, but the previous funding levels were also short-sighted. I think those previous levels were off by something like 3x. There are so many compelling and synergistic justifications as to why, that it can be overwhelming to reason (and write!) about. So, in this post, I’m going to list ten justifications out at a high level, and plan to explore more nuance in the future.
Cutting federal research funding is extremely short-sighted, but the previous funding levels were also short-sighted. I think those previous levels were off by something like 3x. There are so many compelling and synergistic justifications as to why, that it can be overwhelming to reason (and write!) about. So, in this post, I’m going to list ten justifications out at a high level, and plan to explore more nuance in the future.
MIT paper on AI for materials research found to be fraudulent
(thebsdetector.substack.com)
A few months ago, I remember reading some press about a new economics preprint out of MIT. The Wall Street Journal covered the research a few days after it dropped online, with the favorable headline, “Will AI Help or Hurt Workers? One 26-Year-Old Found an Unexpected Answer.” The photo for the article shows the promising young author, Aidan Toner-Rodgers, standing next to two titans of economics research, Daron Acemoglu (2024 Nobel laureate in economics) and David Autor.
A few months ago, I remember reading some press about a new economics preprint out of MIT. The Wall Street Journal covered the research a few days after it dropped online, with the favorable headline, “Will AI Help or Hurt Workers? One 26-Year-Old Found an Unexpected Answer.” The photo for the article shows the promising young author, Aidan Toner-Rodgers, standing next to two titans of economics research, Daron Acemoglu (2024 Nobel laureate in economics) and David Autor.
Perfect Recession Predictors
(perfectpredictors.com)
Each line shows the fraction of perfect yield curve spreads that were negative for a given prediction window (12, 18, or 24 months). An index value of 0 implies the lowest likely chance of recession, whereas an index value of 1 means the highest chance of recession.
Each line shows the fraction of perfect yield curve spreads that were negative for a given prediction window (12, 18, or 24 months). An index value of 0 implies the lowest likely chance of recession, whereas an index value of 1 means the highest chance of recession.
The average workday increased during the pandemic’s early weeks (2020)
(library.hbs.edu)
A study of 3 million people confirms what many work-from-home employees already know: We're swamped. Research by Raffaella Sadun, Jeffrey Polzer, and colleagues.
A study of 3 million people confirms what many work-from-home employees already know: We're swamped. Research by Raffaella Sadun, Jeffrey Polzer, and colleagues.
The Enshittification of Tech Jobs
(medium.com)
Tech workers are a weird choice for “princes of labor,” but for decades they’ve enjoyed unparalleled labor power, expressed in high wages, lavish stock grants, and whimsical campuses with free laundry and dry-cleaning, gourmet cafeterias, and kombucha on tap:
Tech workers are a weird choice for “princes of labor,” but for decades they’ve enjoyed unparalleled labor power, expressed in high wages, lavish stock grants, and whimsical campuses with free laundry and dry-cleaning, gourmet cafeterias, and kombucha on tap:
US reportedly plans to slash bank rules imposed to prevent 2008-style crash
(theguardian.com)
US watchdogs are reportedly planning to slash capital rules for banks designed to prevent another 2008-style crash, as Donald Trump’s deregulation drive opens the door to the biggest rollback of post-crisis protections in more than a decade.
US watchdogs are reportedly planning to slash capital rules for banks designed to prevent another 2008-style crash, as Donald Trump’s deregulation drive opens the door to the biggest rollback of post-crisis protections in more than a decade.