Tag: economics
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keep domestic wages low + sell to rich countries = profit!
If you do not buy your domestic products and instead export them to richer countries, you can underpay your workers and generate a surplus. This means you don’t need to optimize employee pay and production. Your employees stay poorer, and are thus more desperate and less feisty, and have little buying power, but they are…
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Macro-economic headwinds vs “The Terrace-in-April”
I feel like there’s an unspoken set of assumptions and a slightly hidden “operating system” for how societies run. This comes out a lot when I read dense macro-economic analysis like this one. Let’s see what Opus 4.7’s angle is on my question: If I look at this piece, it seems to be saying Europe…
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“Greedy work” refers to jobs in which earnings are convex in hours – meaning that working longer, more continuous, and less flexible hours is rewarded disproportionately rather than proportionally. {Summarized by the robot.} And, from Claudia Goldin: Greedy work can be defined as a job that pays disproportionately more on a per-hour basis when someone…
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Relevant to your interests, Wednesday
RIP the metaverse – It’s fine to use your mountains of spare cash (and voting control) to try out new things. We’re all about innovation and expect it; you have to embrace lots of failure, giant failure. // The actual problem is then discarding all the people you hired to help you. It shucks the…
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🤖 Summary of “Economist Tyler Cowen on the positive side of AI negativity” podcast
The below is a summary of the original transcript from ChatGPT 5.2. Conclusion: Cowen’s core claim is simple and sharp: in the US, most people won’t lose jobs to AI, they’ll lose them to other people who use AI better. The real bottleneck isn’t models or GPUs – it’s institutions, habits, status hierarchies, and people’s…
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Why the Housing Bubble Tanked the Economy And the Tech Bubble Didn’t
Why the Housing Bubble Tanked the Economy And the Tech Bubble Didn’t
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The money in apps – $500/month
The majority of developers still make less than $500 per app per month, but the overall “app poverty line” has moved from 67 percent to 60 percent, according to Vision Mobile’s Developer Economics Q1 2014 report. The analysis firm researched data from more than 7,000 app developers from 127 countries, from the United States and China…
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If things go so badly that the S&P 500 becomes permanently worthless, I have a hard time believing that the people who own gold will rule the world. I think it’s more likely that the people who own steel that is conveniently shaped like guns will control everything, including all of the shiny rocks. At…
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