economics

Demographic Shifts: Changes in population size, age structure, and labor force participation rates influence wage dynamics, productivity, and total output.

Vannevar Bush, who ran the U.S. Office of Scientific Research and Development during World War II, controversially suggested the medical advances that came about from the war—most notably the production and use of antibiotics—may have saved more lives than were lost during the war.

When the bond market entered its golden era and became known as smart money, the U.S. federal debt-to-GDP ratio was only about 30%. That was a small and nimble market, and one that was effectively priced by professional traders.

I hate to say this, but the interface dynamic, once again, favors big tech. Because the previous paradigm in Silicon Valley rewarded applications like Meta and Google that aggregated attention, and those same aggregators are the ones that are heavily investing in AI agents now, it is going to be hard for startups to break through. Not impossible!

A country with well over 100% debt-to-GDP has two main choices in this scenario. The first choice is that they can keep interest rates very low despite periods of price inflation that occurs, and debase all of the currency holders and bond holders. Japan is far enough into fiscal dominance that they’ve chosen that route. The second choice is that

A budget deficit, in short, is inflationary only to the extent that it causes an increase in the money supply. And inflation can occur even with a budget surplus if there is an increase in the money supply notwithstanding.

Needs arise in context—they are not context-free facts

When you search for needs or jobs in the way I outlined earlier, your underlying theory is that there is an objective set of hidden desires. You are looking for essences . You’re adopting the rationalist view that these inherent properties not only exist, but can be discovered and enumerated