Creative destruction is also the most under-appreciated reason for why high minimum wages can improve economic efficiency

This will lead to a lot of problems

🇪🇺 Europe be like...

They're going to force us to inject rare earths at the closest Walgreens.

No one should forget it was China who bailed out the US in 2008 and it is the US who keeps begging China to buy $500bn of US debt.

A nation once proud of pragmatic commerce now risks its own economic interests just to prove loyalty to American policy.

Macron has enacted some absolutely crazy housing policies.

"Zero net land development" Like what in the actual fuck is this? When people say Europe is degrowth I thought it was an exaggeration but it's not. I understand undeveloped & protected nature reserves but stopping all land development is insanity.

The Dutch have made a terrible error of judgment and will pay a huge price for the extremely ill-advised decision to seize control of Nexperia. It really needs to stop being so beholden to the US.

Sounds similar to Harari (yes, THAT Harari)

It’s true…the age of neutrality is over for Europe. Between freezing the Russian assets and seizing Chinese company, Europe has made it clear it is just Washington’s little brother. No sovereignty. Now the question is did it put itself on the winning side? And what will be

Christianity waged 'jihad' too, in the 500s, the 1100s. Spain was more intellectually open under the Arabs than Christians who reconquered it. But Islam turned 'jihadi' at other times too, eg in the 1100s in Baghdad. It's fanaticism that's the problem, not the particular faith.

We need good measures for “Perception inflation”. Instagram/Twitter/TikTok has raised everyone's expectations of what a good life should be. Lifestyles that were reserved for the 1% are now perceived to be middle class. This is true beyond the West as well.

1) Interesting how many folks who were pikachuface.jpg shocked at the Chinese rare earths restrictions after having ignored the 9/29 BIS modifications, framing them first as "escalatory" and later as an "overreach" ... are now framing this — or not framing it at all e.g. mostly

This is an extraordinarily dumb thing for Europe to do: the Dutch government is quite literally stealing a leading Chinese semiconductors company, at least its international operations. They're probably acting in coordination with Washington since it was simultaneous to Trump's

This year’s Nobel Prize in Economics is a farce. There’s an entire field of innovation studies — building on Schumpeter’s insights — that *actually* explains innovation-driven economic growth. This field is full of brilliant economists. But apparently, they’re considered too

@skunk61578185 There are tens of Chinese economists who crafted various policies and papers through the years, so this is false.

@zenjournalist A million names, Justin Yifu Lin, Yu Yongding, Zhou Xianghuan among leading contenders, China’s rise was built on a lot of really ambitious economists who packaged theories that fit China’s political and societal climate, and built the fastest growing state in human history.

Unfortunately for us laymen translations are hard to find or non-existent. https://t.co/Mq4xEkWKWU

The Chinese Academy of Social Sciences & University of Chinese Academy of Social Sciences (UCASS) probably plays a major role in this. But their publications are not accessible.