The secret to finding the best idea ever? First think about the absolute worst

When he first heard the music, Brian Eno grabbed a copy of the single and ran to find David Bowie. “I’ve found the sound of the future,” he breathlessly announced. It was 1977, and the sound of the future was “I Feel Love”. Donna Summer’s ethereal vocals were backed by producer Giorgio Moroder’s pulsing, looping … Read more

Markets won’t save humanity | The Enlightened Economist

In his series of books (Banking Across Boundaries, Rentier Capitalism, The New Enclosure, Our Lives in Their Portfolios) Brett Christophers has provided a forensic analysis of the fundamental plumbing of the global and (especially) UK economy. For example, the first of these identified the statistical construct of ‘financial intermediation services indirectly measured’ (FISIM) as an … Read more

Three Snapshots of Where US Population is Headed

The Congressional Budget Office has published The Demographic Outlook: 2024 to 2054 (January 2024), which offers some recent history and projections of how the US population is evolving. Here are three snapshots: The Role of Immigration in Total US Population Growth The black line shows projected US population growth since 2004, with firm data up … Read more

2:00PM Water Cooler 2/21/2024 | naked capitalism

By Lambert Strether of Corrente. Bird Song of the Day Golden-crowned Kingle, Forêt boréale de la Haute-Côte-Nord, Sept-Rivières, Quebec, Canada. * * * Politics “So many of the social reactions that strike us as psychological are in fact a rational management of symbolic capital.” –Pierre Bourdieu, Classification Struggles The Constitutional Order (Eighth Amendment) Engoron’s penalty … Read more

Wisconsin Manufacturers and Commerce: “Optimism is falling” in Wisconsin

From the Badger Institute: Will things improve? No: 47% expect the national economy to “remain flat” over the next six months, and 20% — one in five —expect it to “decline,” as in recession. “Optimism is falling,” said WMC President Kurt Bauer, who quoted one captain of industry as saying, “We may not be in … Read more

Random Admissions Above the Bar

Jon Klick, Professor of Law at the University of Pennsylvania Carey Law School (and a distinguished GMU econ grad), argues that Penn should “abandon the fiction that holistic evaluation is anything more than a way to hide discretion.” Instead, Penn should set a standardized test score floor and then randomly choose its admittees from the pool … Read more

Transcript: Bill Dudley, NY Fed Chief

   The transcript from this week’s, MiB: Bill Dudley, NY Fed Chief, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ This is Masters in business with Barry … Read more

A supply-side prime minister | The Enlightened Economist

It’s outside my usual territory but I enjoyed reading Harold Wilson: The Winner by Nick Thomas-Symonds. It’s an unashamedly positive biography of a Prime Minister of my childhood and teenage years, when my main awareness of him was the rather affectionate mimicry by comedian Mike Yarwood. One of the book’s key arguments is that Wilson … Read more