Cheap capital is great! But capable labor and good ideas generate cheap capital. Cheap capital generates opportunities to better utilize capable labor and good ideas, but it doesn't create the humans who provide themhttps://twitter.com/webdevMason/status/1168375858832084992?s=20 …
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What does lots of cheap capital *actually* mean? It means you have lots of stored value you can't easily put to use. You have fewer capable people with good ideas competing more easily for a larger pot. Great for the capable individual, but for the society? Not so much
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I'm talking about societal strategy, here. Right now, having children in the US (and much of the west) for personal financial gain is an incredibly stupid thing to do, and only getting stupider. The broader costs to the world of pricing out parenthood are unjustifiable.
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A sentiment I think Julian Simon might have agreed with. http://www.juliansimon.com/writings/Ultimate_Resource/ …
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That Julian Simon book changed my life, I gave it to 12 friends http://www.juliansimon.com/writings/Ultimate_Resource/ …
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Or a tasty and delicious source of cruelty free meat that's been given the highest levels of medical care!
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The
@FT has gone woke. Once Nikkei bought them their standards began to decline. Now they say they have a "New Agenda" as if that is something that will attract readers.Thanks. Twitter will use this to make your timeline better. UndoUndo
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nobody beats the IRR of good parents
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Yep, universal knowledge creators don’t grow on trees. They’re very cute too.
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