Robbie Mochrie
@EconomyofHope
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Wryly curious about the world; using economics, history, culture, and religion to understand it. Occasionally about Scotland; always travelling in hope.
Scotland
Joined February 2024
Shutting down my computer at @HeriotWattUni for a few months - off to work on the #GreatDepression. And how #Keynes and #FDR found a route out of it. Following JK Galbraith "Where Roosevelt left off, Keynes began."
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Not new but still astounding to see the fact in figures 👉SP500 is a bet on 7 companies & one theme: GenAI
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FDR enjoying the freedom which driving gave him once he was paralysed. Using Brad Delong as the starting point for thinking about how we now need to manage that freedom I say that Zohran Mamdani might be enough like FDR to rebuild the Democrat coalition https://t.co/VK0RBa5LVS
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Some words about creative destruction in politics, trying to use the Nobel Peace Prize award as a lens for understanding better the Economics Prize, the present economic and political situation, and invoking the work of Adam Smith. https://t.co/TXXMPccc2U
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All 3 Nobel winners are foreign-born scholars who came to the US for their PhDs, & all 3 spent at least a good chunk of their careers in the US. This doesn't just benefit the US for "scoreboard" reasons. It's how a country innovates. Appropriate given the prize's subject matter!
BREAKING NEWS The Royal Swedish Academy of Sciences has decided to award the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr, Philippe Aghion and Peter Howitt “for having explained innovation-driven economic growth” with one half to Mokyr
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FDR - recovering from polio suddenly went back into politics in 1928. Odd timing, and perhaps bounced into it. What might explain his choice - noblesse oblige or religious faith? Reflections on Davis’ claim that it was faith. https://t.co/Z2uNAqIq3B
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There's lots to enjoy in the Scottish government's new independence "paper". One highlight is the quiet admission that people who can be paid in sterling will probably be richer than those paid in the new Scotch pound.
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Trees and forests. Their natural beauty may far from financial systems. But for Atul Shah, all-encompassing financial systems have absorbed everything in the world. He argues that not just nature, but humanity, needs release through "Organic Finance". https://t.co/TjDb9pJHAj
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Bringing together @TimothyDSnyder and Barbara Kingsolver to reflect on the role of care in establishing freedom. With other analysis from Anne Case and Angus Deaton, summarised by @BaldwinRE @baldwinre.bsky.social. Telling stories to make sense of data. https://t.co/zXdhLynjRl
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We often hear that the US has economically outperformed Europe in recent decades. But it's all about work hours declining more in 🇪🇺: GDP per hour growth has been substantially faster in most 🇪🇺 countries than in the 🇺🇸! Source: GDP from WID, hours from https://t.co/s32ibPl5sf
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Making sure that my thoughts on @TimothyDSnyder's 'On Liberty' get buried by the algorithm by linking to another place ... Great book, revealingly personal, and leaving much to think about. @Ekklesia_co_uk @quakerpen
https://t.co/FsbSGOSdp3
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With Palmerston, perhaps ‘negative’ would be dropped from the question? Or is that just scuttlebutt?
"Why are you always so fucking negative" Extraordinary moments in the history of world diplomacy Of course we didnt have Axios then but i m sure the greats Kaunitz Metternich Palmerston Kissinger Talleyrand Bismarck said exactly what they needed to get the deal done
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And here's a link to "False Dawn" - great cover design. https://t.co/xAm9vtpeM1
press.uchicago.edu
A definitive history of the United States’ recovery from the Great Depression—and the New Deal's true part in it. FDR’s New Deal has long enjoyed a special place in American history and policy—both...
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Lovely learned discussion with @GeorgeSelgin at the @EdinburghLoM of his book "False Dawn. Surprising to hear a very conservative monetary economist conclude that Maynard Keynes is the hero of his book - and that Roosevelt should have taken his advice https://t.co/QtEy6exLMh
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New podcast episode – meet our Errorist In Residence Robbie Mochrie! @EconomyofHope
https://t.co/MTM0RwuZiU
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Plans to celebrate 250 years since the publication of "Wealth of Nations". Examining some ideas on which Smith might have worked today. But briefly. And in less of an alcoholic fog than in the 18th century. https://t.co/DjGBNejXip
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Faced with an acute financing crisis due to 🇺🇸 policies, the 🇺🇳 should consider relocating its Hq from New York to a more affordable location. This also as a reaction to 🇺🇸 blocking access to 🇺🇳 Hq.
Carl Bildt sees a change in headquarters as an unfortunate but necessary step for the embattled institution. https://t.co/0L7wJ1FT0f
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I was pleased to co-sign this letter to @RachelReevesMP via @thetimes on the issue of sustaining public investment to support growth, whilst addressing the U.K.’s long-run structural fiscal issues and avoiding the short-run trap of a volatile “fiscal space”.
Some of the UK’s most distinguished economists have written to the Chancellor warning that fiscal sustainability will not be achieved “without a significant further increase in public investment” to drive economic growth:
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What’s happening to the USD ✍️ Katie Martin @ftopinion 👉 “Clearly, this is not the result of a mass rush out of US assets” 👉”Instead, it reflects a sharp switch in the way global investors buy into US markets ➡️ “foreign investors are now removing dollar exposure at an
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Brief reflections on Retreat or Revitalise - yesterday’s Ethical Finance Global meeting in Edinburgh. I’ve missed out Lord Alderdice’s bit about political processes being like an accordion, essentially cyclical rather than linear. https://t.co/kdhsjvNJb2
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At the GEFI Ethical Finance Global meeting. Striding through the coffee break, my enormously capable former student Angus Clelland, the event organisers.
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