I’m guessing 10 more weeks before we see the first signs of economy reboot. This is going to get really brutal. I’m not seeing any historical comparable for what we’re headed for. Not WW2, not the Great Depression, not the Spanish Flu. This is a totally sui generis cataclysm.
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If I were God Emperor there would be a mandatory Perverse Incentives course from preschool on up
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All incentives are perverse to somebody and fail in predictable ways which David is actually the expert on. Incentives are a fundamentally flawed but necessary instrument that can only safely be used with other types of instruments that check and balance those flaws.
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Where there is enough distance from the goal, even fairly severe misalignment still usually points in the correct direction. It won't fix the problems, but it will get us at least most of the way towards economic recovery.
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You keep using words like “we” and “us” ... you really need to read these essays by a friend of mine who is the expert on this stuffhttps://www.ribbonfarm.com/author/david/
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