Oct 5Liked by Alex, C Trombley One

This guy Keynes you refer to: how does he view the impact of social media and the coming revolution in artificial intelligence?

I suppose he would support a high minimum wage, a four day, work week, and a basic income.

Asking for a friend.

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Oct 5Liked by Alex

the classic austrian move of “making the economy more like the death star trash compactor”

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Fatal flaw in this "background theory in terms of a single causal chain," IMO:

>Consumption and Savings Decisions → Investment

If we take this all down the basic level of the thing we actually (can) measure — spending — this causative arrow seems to be saying that less household consumption spending causes more investment spending by firms.

Which strikes me as a Very Dicey Proposition indeed...

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I do think we have to take Henry George seriously when it comes to the falling productivity picture. We were able to dodge him by improving transport links* but once we did that, we doubled down by also socialising housing speculation. It's not great and could be much much better

*No Price Like Home:

Global House Prices, 1870 – 2012∗

Katharina Knoll† Moritz Schularick‡ Thomas Steger§

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