My latest art of gig newsletter got me thinking about a general point of relevance beyond the gig economy. Inequality is a misframing og the real problem: bad fat distribution.https://twitter.com/artofgig/status/1248066039763484673 …
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“Good” fat distribution would store fat in a much broader variety of instruments and engineer friction and illiquidity so it cannot gravitate to fastest growth locus too easily. You’re not trading off growth for security: you’re securing the growth itself.
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There now seems to be a consensus among economists that dichotomy between opening up the economy sooner and mitigating for longer is a false one. You mitigate longer to actually rescue the economy rather than just put it through a false dawn. This argument works long term too.
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A better fat distribution is the longer term macroeconomic analog to social distancing. It prevents economic contagion from spreading as fast, thereby preserving growth potential.
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I need to work this out more carefully. I don’t think I’ve seen this precise argument made before.
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End of conversation
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