Should we be scared of China's surpluses?
In the early twentieth century, xenophobic fears of the “Yellow Peril” — Asian immigration to the west — led to the US Immigration Act of 1917, barring immigration from China and other Asian nations.
A Zibaldone
Writing about econ and philosophy: "The worst of doing one’s duty was that it apparently unfitted one for doing anything else" - Edith Wharton
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AK or just okay? AI and economic growth
After a typically dark and damp winter in Oxford focused on every sane economist’s least favorite of topics — business cycles — the last two months have treated my vampiric flesh with feeling the sun and feeling the AGI.
Yes, inflation made the median voter poorer
I began writing this post the morning of Wednesday November 6th 2024 — the morning after the US election, where Donald Trump won a reasonably close yet nonetheless resounding victory over Kamala Harris.
To tax capital or not to tax capital? That should not be the question
There was a flurry of recent discussion around the Biden-Harris proposal to tax unrealized capital gains, probably best summarized by this “special edition” of the (always excellent) “Best of Econtwitter” substack.
Why is the labor share of income declining? An informal meta-analysis
Seven years ago, Thomas Piketty’s Capital in the Twenty-First Century landed on coffee tables across the English-speaking world.