This Ray Dalio thing is above my financial literacy level, but it tracks with my anecdata. I hear people complaining about struggling to make rent, and people struggling to find a place to put hundreds of millions.https://www.linkedin.com/pulse/world-has-gone-mad-system-broken-ray-dalio/?fbclid=IwAR0kRor9Dt94pHKZxjvy9Ze_Kaki1nE8Bwytdj9Kd5_6EIwLln81EvlmuWk …
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really? Seems more intuitive to me that the education system is broken so its difficult to generate human capital and that the wealthy are experiencing the exact same problems liberal economists predicted overly centralized socialist economies would face
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At least some of what he describes is an easy problem though. The Fed money could just be mailed to individual citizens. Would deflate the asset bubble, help the median income, and drive consumer demand. The only hard part is convincing Congress
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Pretty cavalier way to talk about other people's earnings isn't it?
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Good (and more accessible) overview here by
@matthewstoller: https://mattstoller.substack.com/p/how-monopolies-broke-the-federal … (via@timoreilly)Thanks. Twitter will use this to make your timeline better. UndoUndo
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And I would also say, „higher returns than can be realized at the current level of technological progress“ - this is our invisible asymptote today
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rate of tech progress in itself is fine, and on a societal level we've decided to not do Risk anymore hence compliance departments promoting check box security
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People without money can't spend more money, growing sectors and industries, so prices of produced goods fall instead. Thank you for coming to my TED Talk.
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Theories: - Peter Turchin -- elite competition - Eric Weinstein -- embedded growth obligation - planet has been used up -- greedy westerners -- too many people - science/tech has plateau'd - bad incentives (tax system? civil society?) 1/
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- amusing ourselves to death (or other variants on "kids don't study hard") - too many/not enough diversity in finance/science - too many/not enough scientists/engineers So many theories. All mostly untested/untestable. 2/
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