Hacker News with Generative AI: Economics

Average person will be 40% poorer if world warms by 4C, new research shows (theguardian.com)
Economic models have systematically underestimated how global heating will affect people’s wealth, according to a new study that finds 4C warming will make the average person 40% poorer – an almost four-fold increase on some estimates.
Climate Change, Economics, Research, Global Warming
8 points by nickcotter 4 hours ago | 1 comments
Move fast, break things: A review of Abundance by Ezra Klein and Derek Thompson (networked.substack.com)
Abundance, the buzzy new political call to arms by New York Times writer/podcaster Ezra Klein and The Atlantic’s Derek Thompson, is less a book than a manifesto.
Politics, Books, Media, Economics
46 points by jaypinho 7 hours ago | 81 comments
Simulated Economy Tutorial (jasonfantl.com)
Imagine an open world RPG where your actions affect the price of goods, the markets reacting to anything the player may do (burn down wheat fields, cost of food increases; kill the merchants, prices differentiate between cities; sell the many swords you’ve collected on your adventures, tank the sword market). What would it take to have such an adaptive simulated economy?
Game Development, Economics, Artificial Intelligence
88 points by jfantl 9 hours ago | 42 comments
Why are credit card rates so high? (newyorkfed.org)
Finance, Economics, Credit Cards
47 points by Vox_Leone 11 hours ago | 121 comments
Average person will be 40% poorer if world warms by 4C, new research shows (theguardian.com)
Economic models have systematically underestimated how global heating will affect people’s wealth, according to a new study that finds 4C warming will make the average person 40% poorer – an almost four-fold increase on some estimates.
Climate Change, Economics, Global Warming, Research, Poverty
10 points by speckx 15 hours ago | 1 comments
What Smoot-Hawley can teach us about U.S. tariffs, according to economists (cnbc.com)
Economics, Tariffs, Trade Policy, United States
5 points by rntn 17 hours ago | 0 comments
Argentina's poverty rate falls as Javier Milei tames inflation (ft.com)
Argentina’s poverty rate falls as Javier Milei tames inflation
Argentina, Economics, Inflation, Politics
8 points by JumpCrisscross 1 day ago | 1 comments
Trump's Science Policies Pose Long-Term Risk, Economists Warn (nytimes.com)
President Trump’s tariffs could drive up prices. His efforts to reduce the federal work force could increase unemployment. But ask economists which of the administration’s policies they are most concerned about and many point to cuts to federal support for scientific research.
Science, Economics, Politics, Trump Administration
23 points by breadwinner 2 days ago | 9 comments
How Working-Class Life Is Killing Americans, in Charts (2020) (nytimes.com)
When the economists Anne Case and Angus Deaton first published their research on “deaths of despair” five years ago, they focused on middle-aged whites.
Social Issues, Health, Economics, United States
6 points by rawgabbit 2 days ago | 1 comments
First-quarter GDP growth will be just 0.3% as tariffs stoke stagflation (cnbc.com)
Economics, Inflation, Trade, GDP
6 points by belter 2 days ago | 2 comments
UK poll: Work and money worry young people more than culture wars or climate (theguardian.com)
Young people are more worried about their finances, work pressures and job insecurity than social media, the climate crisis and culture war debates, research shows.
Generational Differences, UK Politics, Economics, Social Issues
41 points by Pamar 2 days ago | 80 comments
How Trump Is Torpedoing Foreign Tourism to the US, Potentially for Years to Come (forbes.com)
The Trump administration’s multi-front tariff wars and escalating rhetoric are turning off international tourists, according to a growing body of travel data.
Tourism, Politics, Economics, United States
32 points by zfg 2 days ago | 6 comments
Homeownership is 'an investment,' lawmaker says. Fewer adults are benefitting (cnbc.com)
Real Estate, Economics, Social Issues
10 points by donsupreme 2 days ago | 0 comments
Exorbitant Privilege (wikipedia.org)
The term exorbitant privilege (privilège exorbitant in French) refers to the benefits the United States has due to its own currency (the US dollar) being the international reserve currency.
Economics, International Finance, United States
42 points by niklasbuschmann 3 days ago | 4 comments
Private Equity Is Coming for America's $12T in Retirement Savings (bloomberg.com)
Less than a week before President Donald Trump’s second inauguration, more than 30 money managers gathered on Zoom to strategize about how to pull America’s retirement savers into investments far beyond stocks and bonds.
Private Equity, Retirement Savings, Finance, Economics, Investment
87 points by mooreds 3 days ago | 105 comments
Joann Fabrics went from a cult-favorite retail darling to a bankrupt disaster (msn.com)
Last month, Joann Fabric and Crafts, a fixture of American shopping for generations, announced it would close all of its more than 800 stores in the U.S. and lay off 19,000 workers, including more than 15,000 part-time store associates. The company is in the midst of its second bankruptcy in less than a year.
Retail, Bankruptcy, Business, Economics
9 points by mooreds 3 days ago | 3 comments
Will the oil industry's tax breaks skate by in the search for trillions in cuts? (grist.org)
With a $4.5 trillion fight over tax cuts looming, the oil and gas industry wants to protect billions of dollars in tax benefits it enjoys and get new ones, too.
Politics, Oil Industry, Tax Policy, Economics
6 points by rntn 3 days ago | 1 comments
Why 5G Is an Expensive Flop (bloomberg.com)
Hundreds of billions of dollars have been spent upgrading the world’s wireless networks to fifth-generation technologies. 5G’s early advocates said it would “change the way we live, work and play forever.” Have you noticed? 
5G, Technology, Telecommunications, Business, Economics
7 points by helsinkiandrew 3 days ago | 1 comments
China built AI data centers to Now many stand unused (technologyreview.com)
The country poured billions into AI infrastructure, but the data center gold rush is unraveling as speculative investments collide with weak demand and DeepSeek shifts AI trends.
Artificial Intelligence, China, Data Centers, Economics
6 points by iancmceachern 3 days ago | 0 comments
'Catastrophic': Canadian bookings for U.S. travel drop sharply (ctvnews.ca)
‘Catastrophic’: Canadian bookings for U.S. travel drop sharply
Travel, Canada, United States, Economics
67 points by mgh2 3 days ago | 57 comments
GDPNow first quarter of 2025: -2.8% (seasonally adjusted annual rate) (atlantafed.org)
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -2.8 percent on March 28, down from -1.8 percent on March 26.
Economics, GDP, Forecasting
15 points by nabla9 4 days ago | 7 comments
US economic data at risk from Elon Musk's Doge cuts (ft.com)
US economic data at risk from Elon Musk’s Doge cuts
Economics, Cryptocurrency, Elon Musk
10 points by littlexsparkee 5 days ago | 4 comments
Recession is coming before end of 2025, corporate CFOs say (cnbc.com)
Economics, Finance, Business, Forecasting
7 points by belter 5 days ago | 5 comments
How Kerala got rich (aeon.co)
Fifty years ago it was one of India’s poorest states, now it is now one of the richest. How did Kerala do it?
India, Economics, Development, Social Progress
380 points by lordleft 5 days ago | 299 comments
Jevons Paradox: A Personal Perspective (fakepixels.substack.com)
“I'm dying. Of overwork.”
Jevons Paradox, Economics, Work-Life Balance, Substack
17 points by kiyanwang 5 days ago | 8 comments
I thought the free market was with us forever (bbc.co.uk)
I remember 1974 well. With inflation on the rise, the government had been locked in battle with trade unions over worker pay. The government appeared paralysed: stand up to the miners and strikes could shut down the power system, but give in and pay them more money and inflation would rocket.
Economics, History, Politics
13 points by badpenny 5 days ago | 2 comments
Percentage of parents financially supporting adult children reaches 3-year high (savings.com)
Half of parents with adult children provide regular financial assistance to their grown offspring. The average support per adult child is $1,474 monthly, about 6% higher than last year.
Parenting, Finance, Economics, Demographics
35 points by walterbell 5 days ago | 41 comments
Abundance isn't going to happen unless politicians are scared of the status quo (yimbyaction.org)
“Too many goods created a bad.”
Politics, Economics, Social Commentary
340 points by viajante1882 6 days ago | 512 comments
Trump places 25 per cent tariff on US auto imports (abc.net.au)
US President Donald Trump says he is placing a 25 per cent tariff on all automotive imports to the United States.
Politics, Trade, Economics
14 points by Humphrey 6 days ago | 3 comments
Trump's $16T Trade Blind Spot (project-syndicate.org)
Convinced of an easy victory, Donald Trump has launched a global tariff war aimed at reducing the US trade deficit. But while Trump is fixated on imported goods, he is overlooking the much larger role that services, intellectual property, and investment play in sustaining America’s global economic dominance.
Trade, Economics, Politics, United States
15 points by johntfella 6 days ago | 0 comments