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korrents.com
Vertical farming swaps a land problem for an energy problem, and the energy cost is what stops it feeding the world.Their words
I explain why in the essay; the TLDR is that they’re energy hogs. The sun is a really awesome source of calories, and it’s kind of dumb not to take advantage of it.
The Food Problem Is Bigger Than Lettucemichaelgrunwald.substack.com
What public figures publish and believe, in their own words.
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Top people in Economics
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3 July 2023
29 June 2023
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korrents.com
Survival can be guaranteed without a universal basic income, by making housing, food and above all energy dirt cheap.Their words
You can make survival guaranteed without UBI. What you have to do, is make housing and food dirt cheap. Right? And that’s the good world. And actually, let’s go into what we should really be making dirt cheap, which is energy.
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Lovedaffiliate linkrcmnd.app
The Great Depression: A DiaryTheir words
This fantastic work is a primary source material to one of the darkest times in American economic history.
6 June 2023
From one piece A Climate Killer Disguised as a Climate Solution 2 beliefs, in the piece's order there
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Their words
an acre of solar panels generates as much energy as 100 acres of corn grown for ethanol.
A Climate Killer Disguised as a Climate Solutionmichaelgrunwald.substack.com
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korrents.com
Land is good at growing food and storing carbon and bad at growing energy, and we have better ways to grow energy.Their words
Land is really good at growing food and storing carbon, but it sucks at growing energy—and fortunately, we have better ways to grow energy.
A Climate Killer Disguised as a Climate Solutionmichaelgrunwald.substack.com
25 May 2023
11 May 2023
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Their words
Ships are great at carrying bulky and heavy stuff with minimal cost and energy usage. We need a battery chemistry that leans into that and sacrifices performance to reduce cost.
Why Battery Powered Cargo Ships are Compellingaustinvernon.site
30 April 2023
21 March 2023
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korrents.com
An AI can already earn an A on a university economics midterm, years earlier than informed forecasters expected.Their words
To my surprise and no small dismay, GPT-4 got an A. It earned 73/100, which would have been the fourth-highest score on the test.
13 March 2023
9 March 2023
4 March 2023
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Their words, before
My view is that it’s going to take more than this regulatory campaign to defeat dynamism in China.
Their words now
What I did not sufficiently appreciate is that a state that would so casually decapitate a sector like online tutoring would also have the will to visit catastrophe upon whole cities.
From one piece 2022 letter 2 beliefs, in the piece's order there
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Their words
And on balance I believe we should think of the Chinese state today as an autocratic regime that is occasionally capable of economic pragmatism rather than a technocratic regime that slips occasionally into Marxist faults.
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Their words
Consider the solar industry, for which the US laid the scientific groundwork, only for Chinese firms to make all the photovoltaic cells.
2 February 2023
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korrents.com
Maintainers of widely used open source software are not adequately funded, and that is a real and unsolved problem.Their words
This experiment started from the observation that despite being critical for the functioning of the Internet—and, by extension, the economy—the role of open-source maintainer has not yet found a sustainable manifestation.
14 January 2023
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Their words, before
The Fed needs PCE inflation to average 1.96% for the remainder of the decade in order to hit their AIT target.
Their words now
I assumed they intended inflation to average roughly 2% during the 2020s.
10 December 2022
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Recommendsrcmnd.app
Of Boys and Men: Why the Modern Male Is Struggling, Why It Matters, and What to Do about ItTheir words
Although his training is not in economics, Richard Reeves draws on economic research, as well as research from the fields of sociology, psychology, and political science, to tell an under-told story. The book explores the problems faced by boys and men, the roots of those problems, and possible policy solutions.
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Recommendsrcmnd.app
The Journey of Humanity: The Origins of Wealth and InequalityTheir words
I particularly appreciated The Journey of Humanity because it is an ambitious and deep story about the past tens of thousands of years of economic development that is also well grounded in a growing economics literature into the deep origins of growth
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Lovedrcmnd.app
Streets of Gold: America's Untold Story of Immigrant SuccessTheir words
Absolutely. It is incredibly enjoyable and readable. The authors, in a way that is very rare for economists, find small stories that paint big pictures for the points they make.
+ 1 more
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Recommendsrcmnd.app
Slouching Towards Utopia: An Economic History of the Twentieth CenturyTheir words
Slouching Towards Utopia is a rich, nuanced story of the interplay of politics, economics, and ideas and how they shaped progress.
1 December 2022
28 November 2022
13 October 2022
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Their words
A fascinating account of the economic transformation of Germany under the Nazis
27 September 2022
19 September 2022
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Their words
Drag and tire friction dominate energy expenditure. Engineering effort to improve drag is worth so much more with electric vehicles.
12 September 2022
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Likedrcmnd.app
Wild ProblemsTheir words
How to improve your HUGE major life decisions, like whether/who to marry, whether to have kids, where to live, career paths, and such — where you can’t use the usual checklist/data approach. This economist addresses self-identity, “deepest self”, and “something I was meant to do”. You can’t use a pro/con checklist with an item that says “lose respect for myself”.
7 September 2022
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Their words
But the thing is, you can’t have this if you don’t have an oxygenated planet because it’s all, in the end, it’s about how much energy can you extract from the food you eat? And if you don’t have an oxygenated planet, you can get about 10% out, not much more than that. And if you’ve got an oxygenated planet, you can get about 40% out.
26 August 2022
From one piece Collections: Why No Roman Industrial Revolution? 2 beliefs, in the piece's order there
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Their words
All of which is why simple graphs of things like ‘global historical GDP’ can be a bit deceptive: there’s a lot of particularity beneath the basic statistics of production because technologies are contingent and path dependent.
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Their words
Roman economic growth, because it was a product of institutions instead of technologies, was not durable in the face of those institutions collapsing.
8 July 2022
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Their words
The drone-like architecture of the multicopters is simple, but as the rotors are responsible for keeping the unit at a constant altitude with hover power, they represent an energy-intensive version of VTOLs. Their range is, therefore, short, typically less than 20 miles.
22 June 2022
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Dislikedrcmnd.app
End the FedTheir words
It's a book by a politician, about what you expect. Some interesting tid bits on the history of the Fed but you could get it from Wikipedia.
6 June 2022
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Recommendsrcmnd.app
How the World Really WorksTheir words
But I highly recommend reading him on the subject because he is so good at explaining how the world’s energy systems work today.
1 June 2022
From one piece Fiscal Policy under Low Interest Rates 5 beliefs, in the piece's order there
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Their words
The proposition is that the cancellation of the bonds held by the central bank would decrease the amount of interest payments and thus the debt service of governments. And indeed, it would. But it would have another effect—namely, to decrease the revenues of the central bank and thus the profits that the central bank turns in to the government. This second effect would be exactly of the same size as the first, and the net effect on the government budget constraint would be equal to zero.
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Their words
The main challenge in discussing fiscal policy is the widely held and nearly religious belief that public debt is very bad.
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Their words
A longer maturity of debt protects the government from a temporary increase in the short run interest rate, and it gives it more time to adjust to a permanent increase.
+ 2 more
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Their words
If a fiscal expansion takes place when output is already at potential, monetary policy is likely to tighten, leading to higher interest rates and thus a smaller effect or even no effect of the fiscal expansion on output.
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korrents.com
There is no tight relation between growth rates and interest rates, either theoretically or empirically.Their words
while the growth rate may well affect saving and investment, there is no tight relation between growth rates and interest rates, either on theoretical or empirical grounds.
1 March 2022
28 January 2022
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Their words
the electric technology used for cars only has to beat energy hogs that are below 10% in efficiency, our everyday car. But to qualify for aircraft use, the technology has to equal or beat what is used today, which is at the 30% to 40% efficiency level using modern turboprop or turbofan engines.
5 January 2022
3 January 2022
1 January 2022
From one piece 2021 letter 2 beliefs, in the piece's order there
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Their words
It has displayed a stronger record of reform than any other developing country, as the leadership keeps pulling off politically-difficult tasks: shrinking the state sector, re-orienting the economy towards export-led growth after WTO accession, and so on.
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korrents.com
China's cultural and intellectual output to the world is far smaller than its economic weight.Their words
Never has any economy grown so much while producing so few cultural exports.
1 December 2021
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Mixed onrcmnd.app
A Random Walk Down Wall StreetTheir words
A fine intro to investing if you think you can reliably beat the market or that active trading is a good use of energy. If you're already bought in on index funds though, you won't find much here.
1 August 2021
20 July 2021
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Their words
The problem that companies like Apple need to solve is not preventing exploits forever, but a much simpler one: they need to screw up the economics of NSO-style mass exploitation.
A case against security nihilismblog.cryptographyengineering.com
16 May 2021
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Lovedrcmnd.app
The British Industrial Revolution in Global PerspectiveTheir words
The British Industrial Revolution in Global Perspective is the best book on the country’s adoption of sustained economic growth at the turn of the nineteenth century, full stop.
7 April 2021
7 March 2021
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Usesrcmnd.app
FeedlyTheir words
I use Feedly to follow most of the usual economics blogs, as well as dozen or so journals
1 March 2021
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Likedaffiliate linkrcmnd.app
Thinking, Fast and SlowTheir words
Still the definitive book on cognitive biases and behavioral economics.
1 February 2021
From one piece Does energy imbalance (calories in > out) cause obesity? 3 beliefs, in the piece's order there
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korrents.com
Common obesity is not caused by a slow metabolism: people with obesity burn more energy, not less.Their words
This tells us that common obesity is not the result of a reduced metabolic rate– a common but erroneous belief.
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korrents.com
The brain, not insulin or fat tissue, is what ultimately controls the energy balance equation.Their words
However, whichever side of the energy balance equation is giving orders, the brain appears to be the commander-in-chief of the equation as a whole.
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Their words
No matter what your model of obesity is, in order to explain the development of an obese body, energy imbalance has to be a link in the model’s causal chain.
1 January 2021
28 October 2020
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Likedaffiliate linkrcmnd.app
Economics in One LessonTheir words
This economics thought experiment is a classic book originally written in 1946. Like most books that follow Nassim Taleb's "all books worth reading are at least 20 years old" rule, it has timeless lessons throughout. It tackles all kinds of ongoing political/economic concepts like rent control, minimum wage, tariffs, "saving industries", and more.
29 September 2020
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korrents.com
The tech industry's economic and intellectual energy is directed away from human flourishing rather than toward itTheir words
The economic and intellectual horsepower in Silicon Valley and the wider tech world seems to be pointed away from these goals.
16 June 2020
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Lovedrcmnd.app
Enemy Of All MankindTheir words
is both a great story and also an object lesson in how single event can have a compounding effect on global politics and economics
4 June 2020
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Their words
Using history to understand our present is a great impulse, but it means some of the false myths we tell about the Black Death and Renaissance are doing new damage, one of the most problematic in my view being the idea that sitting back and letting COVID kill will somehow by itself naturally make the economy turn around and enter a period of growth and rising wages.
22 May 2020
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Their words
when the main communication channels are asynchronous text and video calls (as would be the case in a remote work setup) the influence of the loudest person in the room wanes. It's transferred to the best communicators.
15 May 2020
14 May 2020
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Their words, before
And beyond that, by the time solar scale has doubled 4 more times, to the equivalent of 16% of today’s electricity demand (and somewhat less of future demand), we should see solar at 3 cents per kwh in the sunniest areas, and 4.5 cents per kwh in moderately sunny areas.
Their words now
Both of those forecasts were wrong. Solar has plunged in price faster than anyone – including me – predicted.
From one piece Solar's Future is Insanely Cheap (2020) 5 beliefs · rameznaam.com
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korrents.com
Solar's future price should be predicted from how much has been built, not from how much time has passed.Their words
We can use the last decade to predict the future prices of solar power. Not by looking at the cost of solar as a function of time, but by looking at the cost of solar as a function of cumulative scale of the solar industry.
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Their words
In short solar prices have dropped faster and lower than almost anyone has expected.
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korrents.com
Demand for electricity will rise to absorb far more solar than is currently considered feasible.Their words
Add these up, and it’s plausible that solar’s contribution to the energy system could double or triple the amount currently considered feasible for solar to provide.
+ 2 more
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korrents.com
Average solar electricity prices in sunny parts of the world will fall to one or two cents per kwh by 2030 or 2035.Their words
This incredible pace of solar cost decline, with average prices in sunny parts of the world down to a penny or two by 2030 or 2035, is just remarkable.
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Their words
The data paint an incredible picture: One that shows the price of solar electricity from utility-scale systems dropping by anywhere from 30-40% with each doubling of cumulative solar deployment.
30 March 2020
20 August 2019
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Mixed onrcmnd.app
REAPERTheir words
It's basically the Vim of audio editing software, so I wouldn't recommend it if you don't have the time and energy to heavily invest in customizing it for your workflow, but I can move like lightning in this thing.
28 May 2019
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Recommendsaffiliate linkrcmnd.app
Rockonomics: A Backstage Tour of What the Music Industry Can Teach Us about Economics and LifeTheir words
Alan B. Krueger, Rockonomics: A Backstage Tour of What the Music Industry Can Teach Us about Economics and Life: From the economist who revealed the secrets of the minimum wage comes this look at the economics of the music industry. Its disruptions by technology to economics of songwriting and concert tours, the music industry offers important financial lessons. Kreuger, an economic rock star himself (he was former chairman of the president’s Council of Economic Advisers) left us far too soon.
2 April 2019
27 February 2019
7 February 2019
28 October 2018
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Usesrcmnd.app
EconTalkTheir words
Economics or Business Interviews Conversations with Tyler with Tyler Cowen EconTalk with Russ Roberts General Interviews North Star Podcast with Dave Perell The Tim Ferriss Show
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Usesrcmnd.app
Conversations with TylerTheir words
Economics or Business Interviews Conversations with Tyler with Tyler Cowen EconTalk with Russ Roberts General Interviews North Star Podcast with Dave Perell The Tim Ferriss Show
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Usesrcmnd.app
The Tim Ferriss ShowTheir words
Economics or Business Interviews Conversations with Tyler with Tyler Cowen EconTalk with Russ Roberts General Interviews North Star Podcast with Dave Perell The Tim Ferriss Show
19 September 2018
10 September 2018
18 May 2018
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Recommendsrcmnd.app
Phenomenology of SpiritTheir words
In order to understand Marx, you really do need to know something about Hegel. It's a mistake to think you could read Marx as a scientist or an economist without understanding the Hegelian framework of his thought. That's why I chose to begin with Hegel.
5 January 2018
1 January 2018
22 December 2017
16 March 2017
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Lovedrcmnd.app
Seeing Like a StateTheir words
Seeing Like A State is the book G.K. Chesterton would have written if he had gone into economic history instead of literature. Since he didn't, James Scott had to write it a century later. The wait was worth it.
1 March 2017
From one piece Acemoglu & Restrepo, "Robots and Jobs: Evidence from US Labor Markets" (NBER working paper 23285) 3 beliefs, in the piece's order there
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korrents.com
In a model where robots compete with human labour task by task, robots can reduce both employment and wages.Their words
Using a model in which robots compete against human labor in the production of different tasks, we show that robots may reduce employment and wages
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Their words
Using this approach, we estimate large and robust negative effects of robots on employment and wages across commuting zones.
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Their words
As robots and other computer-assisted technologies take over tasks previously performed by labor, there is increasing concern about the future of jobs and wages.
From one piece Acemoglu & Restrepo, "Robots and Jobs: Evidence from US Labor Markets" (NBER working paper 23285) 3 beliefs, in the piece's order there
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Their words
Using this approach, we estimate large and robust negative effects of robots on employment and wages across commuting zones.
-
Their words
As robots and other computer-assisted technologies take over tasks previously performed by labor, there is increasing concern about the future of jobs and wages.
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korrents.com
In a model where robots compete with human labour task by task, robots can reduce both employment and wages.Their words
Using a model in which robots compete against human labor in the production of different tasks, we show that robots may reduce employment and wages
1 January 2017
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Readrcmnd.app
The Vital QuestionTheir words
A fascinating book exploring the role of energy in biology and evolution. It explains how eucaryotic life emerged and why it grew in complexity, while bacteria have remained unchanged in their simplicity for billions of years. It also presents the best theory of abiogenesis we have, and a lot more.
1 October 2016
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Their words
Behavioral science can play an even more important role in the policymaking process in coming years if practitioners instead begin with some of the large-scale questions that economic policymakers face and then develop insights that, often as a complement to more traditional policy tools, can help solve them.
1 August 2016
1 January 2016
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Readrcmnd.app
NarconomicsTheir words
If you’ve enjoyed Narcos, you’ll like this book. The world of drugs, cartels, gangs, violence, and prisons looked at from the perspective of an economist.
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Readrcmnd.app
Whole Earth DisciplineTheir words
An ecopragmatist book making a compelling argument that urbanization, nuclear energy, and genetic engineering are good for the environment and must be pursued. This is all counterintuitive — environmental movement traditionally despises those things. But we’ve gone so far changing Earth, there might not be another choice.
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Lovedrcmnd.app
SapiensTheir words
The history of humankind from 2 million years back all the way until today. Fascinating read. I liked that it wasn’t just a list of events, but an overarching “theory of history”. Also enjoyed that this one topic was presented through many lenses: history, evolutionary biology, archeology, economics, even philosophy and theology.
18 November 2014
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korrents.com
How much to test is an economic calculation a team should actually run, not a matter of principle.Their words
The point isn't that you should definitely write more tests, it's that you should definitely do the math to see if you should write more tests.
18 September 2014
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korrents.com
The goal of spaceflight is the whole solar system, not any single destination the experts are arguing over.Their words
The ‘horizon goal’ isn’t Mars, it is the entire solar system.
27 June 2013
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korrents.com
What keeps poor countries poor is political and economic instability, not a shortage of well-designed programmes.Their words
The real problem is the absence of firms small and large to employ people productively. The root of the problem is political instability, economic uncertainty, and a country’s high cost structure, among other things. A government’s attention is properly on these bigger issues.
21 November 2012
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Recommendsrcmnd.app
The Economy of EsteemTheir words
This is a book by a philosopher and an economist about a topic that was neglected for a very long time in social analysis. So there's lots about it in the 18th century – Adam Smith and people like that – and it's about how esteem, which is their word for the respect that you give to people who have achieved things against a certain standard, can be used to motivate people to do good things.
11 May 2012
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Recommendsrcmnd.app
Why Nations FailTheir words
Why Nations Fail is by two of my favourite economists, two very close friends and co-authors of mine, Daron Acemoglu and James Robinson. They're tackling a subject that I've worked on with them, and they do a great job of bringing it to life and making it vivid.
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Lovedrcmnd.app
A History of Interest RatesTheir words
This is one of my favourite type of books, which are just about data.
23 January 2012
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Their words
This is a roundabout way of telling you that companies are not sensitive to small differences in employee wages because employees are so darned expensive anyhow.
3 January 2012
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Lovedrcmnd.app
Empire of WealthTheir words
In the meantime, below are a few of my favorite books from 2012: Empire of Wealth: The Epic History of American Economic Power – Gordon (my favorite, though it was published in 2005) Jackass Investing: Don’t do it. Profit from it – Dever (unfortunate title, good book) What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time – O’Shaughnessy (good update and review of quant stock screens)
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Likedrcmnd.app
Jackass InvestingTheir words
In the meantime, below are a few of my favorite books from 2012: Empire of Wealth: The Epic History of American Economic Power – Gordon (my favorite, though it was published in 2005) Jackass Investing: Don’t do it. Profit from it – Dever (unfortunate title, good book) What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time – O’Shaughnessy (good update and review of quant stock screens)
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Likedrcmnd.app
What Works on Wall StreetTheir words
In the meantime, below are a few of my favorite books from 2012: Empire of Wealth: The Epic History of American Economic Power – Gordon (my favorite, though it was published in 2005) Jackass Investing: Don’t do it. Profit from it – Dever (unfortunate title, good book) What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time – O’Shaughnessy (good update and review of quant stock screens)
28 October 2011
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Their words
You really want to be attached to Profit Centers because it will bring you higher wages, more respect, and greater opportunities for everything of value to you.
24 October 2011
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Usesrcmnd.app
TextEditTheir words
Articles happen in Word, but I'm leaving it behind more and more, and just writing in Textedit to save myself all the time and energy associated with Microsoft.
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Usesrcmnd.app
ScrivenerTheir words
I write my books and comics scripts in Scrivener. Articles happen in Word, but I'm leaving it behind more and more, and just writing in Textedit to save myself all the time and energy associated with Microsoft.
21 March 2011
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korrents.com
Nuclear power is the wrong technology for cutting carbon: efficiency and renewables can do the job without it.Their words, before
Some of our arguments against nuclear power have collapsed, but it seems to me that the case is still robust.
Their words now
The crisis at Fukushima has converted me to the cause of nuclear power.
1 March 2011
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Lovedrcmnd.app
What Investors Really WantTheir words
Meir Statman, one of my favorite behavioral economists, has written a great book on how investors can overcome their base urges and make better decisions:
6 September 2010
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quantitative easinginterest rates
Their words, before
Any effective monetary stimulus would be expected to raise long term rates.
Their words now
I predicted that aggressive QE would raise long term interest rates, a view which seemed to be refuted by the response on T-bond yields to the March 2009 Fed QE announcement.
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korrents.com
Monetary policy operates with long and variable lags, so attempts to fine-tune the economy make things worse.Their words, before
In the 1970s I thought monetary policy operated with long and variable lags, and thus fine-tuning would make things worse.
Their words now
In the 1970s I thought monetary policy operated with long and variable lags, and thus fine-tuning would make things worse.
29 November 2008
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korrents.com
Warnings of an imminent US recession in 2006 are partisan gloom rather than a real signal about the economy.Their words, before
For these pundits, the most dismal indicator is that we have a Republican Administration. They have been gloomy for six years now.
Their words now
I will add that I was definitely not expecting Freddie Mac and Fannie Mae to have ventured so far away from the idea of investment-quality mortgages that they had enough exposure in subprime loans to wipe out their capital.
3 November 2008
From one piece Sustainable Energy — without the hot air 5 beliefs, in the piece's order there
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Their words
Just like Britain, Europe can’t live on its own renewables. So if the aim is to get off fossil fuels, Europe needs nuclear power, or solar power in other people’s deserts (as discussed on p179), or both.
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Their words
Solar thermal water heaters are a no-brainer. They will work almost everywhere in the world.
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Their words
So to fix climate change, we need to sort out a new way of getting energy. The climate problem is mostly an energy problem.
+ 2 more
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Their words
For most materials, the embodied energy per unit weight is greater than or equal to 10 kWh per kg – the same as the energy per unit weight of fossil fuels.
-
Their words
planes are already almost as energy-efficient as they could possibly be. Planes unavoidably have to use energy for two reasons: they have to throw air down in order to stay up, and they need energy to overcome air resistance. No redesign of a plane is going to radically improve its efficiency.
1 April 2002
From one piece Systematically Biased Beliefs about Economics: Robust Evidence of Judgemental Anomalies from the Survey of Americans and Economists on the Economy 3 beliefs, in the piece's order there
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korrents.com
The robustness of apparent biases about economics suggests that the judgemental anomaly is real.Their words
Apparent biases' robustness suggests that the anomaly is real.
-
korrents.com
Differences between the public's and economists' economic views do not solely reflect economists' self-serving bias.Their words
The paper first tests and decisively rejects the hypothesis that the differences solely reflect economists' self‐serving bias.
-
Their words
Differences between the general public's positive economic views and economists' resemble other judgemental anomalies: Laypeople and experts systematically disagree.
1 January 1998
1 May 1977
1 October 1975
Nothing matches.
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