saw a neat paper once that said the productivity slowdown was basically all due to innovations not spreading to the worst firms anymore idk I didn't really understand ithttps://twitter.com/ObsoleteDogma/status/1355316050276048898 …
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my hunch is that if your industry hasnt been eaten by a tech company yet it will probably be soon and its because of organizational and technical infrastructure
if you want to make america rich the best thing you can do is let Amazon et al eat the economy and spread their workplace practices
Destroying jobs is good, actually
its more a matter of figuring out how to better use the existing human capital stock and slowly changing it to better complement physical and information capital such is the way in which a people becomes richer
the problem with applying this to liquidationism is that it's not established that poor monetary policy is actually better at recycling these firms than full employment and a tight labor force
you can kill bad firms through lack of demand or you can kill them by making it impossible for them to match competitor wages, I know which I prefer
hmm this is mostly from my experience rather than anything orderly I think I've seen the paper NLRG referenced but I haven't the slightest recollection of who wrote it--if she remembers you might start there
This kind of fits the data from the outside but is hard to map onto what I've seen from the inside. Or is the idea that the secret sauce is mostly at management layers that I wouldn't see anyway?
hmmm. have you worked at both types of firms, or worked in bigtech and talked with people outside about how their firms operate?
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