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patrickc's profile
Patrick Collison
Patrick Collison
Patrick Collison
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@patrickc

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Patrick CollisonVerified account

@patrickc

Fallibilist, optimist. Stripe CEO.

patrick@stripe.com
patrickcollison.com
Joined April 2007

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    Patrick Collison‏Verified account @patrickc 18 Apr 2018
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    Robert Lucas said that it’s hard to stop thinking about growth dynamics once you start. With this chart, it’s hard to stop thinking about the... lack of dynamics. Often wonder what to conclude from it.pic.twitter.com/CgMgQZiG0N

    9:29 PM - 18 Apr 2018
    • 70 Retweets
    • 335 Likes
    • Harshita Arora Restore Aryavarta Michael Malo ǟռɖʀɛա and 3,486 others paste_special Michael P Gibson Mark Cummins Kowal Ro₿ 🏁 Rob Hu$$le 🏁
    27 replies 70 retweets 335 likes
      1. New conversation
      2. Chikai Ohazama‏ @lifeofc 18 Apr 2018
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        Replying to @johnolilly @patrickc

        Yeah that was my initial thought too. Here's a graph of population overlaid on the GDP chart. Follows fairly closely.pic.twitter.com/MEEpiG2b9L

        1 reply 2 retweets 7 likes
      3. 3 more replies
      1. New conversation
      2. Max Roser‏Verified account @MaxCRoser 18 Apr 2018
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        Replying to @patrickc @DinaPomeranz

        Yes, that's very much worth pointing out. Quite often the oddest thing about some long-run developments is how little they seem to be affected by all the craziness that happens around them. [Here is the latest data for this: https://ourworldindata.org/grapher/maddison-data-gdp-per-capita-in-2011us?tab=chart&yScale=log&country=USA …]pic.twitter.com/HLrZq6NGQm

        6 replies 18 retweets 56 likes
      3. Max Roser‏Verified account @MaxCRoser 18 Apr 2018
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        Replying to @MaxCRoser @patrickc @DinaPomeranz

        Oh just saw that yours shows GDP. For GDP per capita it is even more surprising. (Also, this idea that the US was at any point like China today is very, very wrong. Catch up growth and growth at the technological frontier are very different.)

        2 replies 2 retweets 21 likes
      4. 1 more reply
      1. Greg Navis‏ @gregnavis 19 Apr 2018
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        Replying to @patrickc

        It's a log scale so we're looking at an exponential function. Why is that lack of dynamics?

        0 replies 0 retweets 11 likes
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      1. New conversation
      2. Plankify‏ @plankify 19 Apr 2018
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        Replying to @patrickc

        A recent theory from econ history is that the industrial revolution isn't a growth story but a demographic one. Machines reduced wage premium for strength which increased the opportunity cost for women not working, and we escaped the malthusian trap for the first time ever.pic.twitter.com/FP64UQqzX4

        1 reply 0 retweets 3 likes
      3. Plankify‏ @plankify 19 Apr 2018
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        Replying to @plankify @patrickc

        Accordingly, you can find epochal drama in GDP/person.pic.twitter.com/Na8p5NL7s2

        0 replies 0 retweets 4 likes
      4. End of conversation
      1. New conversation
      2. Molson Hart‏ @Molson_Hart 18 Apr 2018
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        Replying to @patrickc

        That the basket of goods in cpi are designed to keep that graph a straight line?

        1 reply 0 retweets 7 likes
      3. John Handley  🥪 📈‏ @jwhandley17 19 Apr 2018
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        Replying to @Molson_Hart @patrickc

        GDP delfator ≠ CPI

        1 reply 0 retweets 0 likes
      4. 3 more replies
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      2. Kevin Riggle‏ @kevinriggle 18 Apr 2018
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        Replying to @patrickc

        Piketty covers this extensively in CAPITAL IN THE 21ST CENTURY, IIRC, but I'm only halfway through so I haven't learned yet what conclusions he draws from it.

        1 reply 0 retweets 2 likes
      3. BenTheEgg‏ @BenTheEgg 18 Apr 2018
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        Replying to @kevinriggle @patrickc

        I don't want to spoil, but one of the conclusions is that capital is bound to take over if no regulation (as opposed to wages), and that ended poorly in the past. Else parts of the book are just observations that there are historical behavioural constants, also interesting

        0 replies 0 retweets 2 likes
      4. End of conversation

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