Luis Garicano 🇪🇺🇺🇦
@lugaricano
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Professor at LSE @LSEPublicPolicy. Recovering MEP. Substack on econ, tech and EU at https://t.co/08wJlO9hUk "Crisis Cycle" with PUP out in June 2025.
London, UK
Joined February 2010
As AI automates junior-level tasks, it destroys the training grounds that create future experts. Who will train the next generation when entry-level work provides no value for firms to capture?.Today on Silicon Continent on the 'AI-Becker problem':
siliconcontinent.com
Who will train the next generation?
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RT @TheEconomist: Pedro Sánchez is seen by supporters as a last bastion of social democracy against the hard right. Despite leading a minor….
economist.com
Pedro Sánchez needs to let his country’s democracy renew itself
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Excellent analysis!.
“It’s just completely wrong,” that’s @BaldwinRE disagreeing with Trump’s tariff strategy and predicting economic pain will follow tomorrow’s deadline.
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Agree totally with the analysis by @atanaspekanov of the incentives of EU politicians re: single market/growth enhancing reforms. Worth thinking and reflecting on it. (And thanks for the kind words!).
@monacelt 2. In the EU the problem gets much worse. EU decision making is extremely slow (as per Draghi Report) - lets imagine by some miracle we get 27 Member States to actually agree (in reality u need the big countries and a critical mass of the small ones). You still need to retain.
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RT @JesusFerna7026: The interest in Tuesday’s post on industrial policy made me think this was a good time to share my (just updated) slide….
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RT @s8mb: We're hiring: join us & write a daily aggregator newsletter about science & tech progress, economic growth, YIMBYism, beautiful c….
worksinprogress.news
Join us and document the scientific, technological and economic progress happening around the world.
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Most of the costs of these insane trade policies go beyond the actual headline figures:.1. Compliance becomes a nightmare: see e.g. beer below. 2. Rents go not to innovators, but to lawyers and those well connected and able to get loopholes and sweet deals.
A "simple" example from @SamuelMarcLowe of how ridiculously complex the US tariff system has become in just the last few months:. Say you want to import some Belgian beer.
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In LLMs, like in solar panels and eVs, communist China is teaching the West the virtues of brutal market competition:"This Darwinian life-or-death struggle will lead to the demise of many of the existing players, but the intense competition breeds strong companies.".
There is now a path for China to surpass the U.S. in AI. Even though the U.S. is still ahead, China has tremendous momentum with its vibrant open-weights model ecosystem and aggressive moves in semiconductor design and manufacturing. In the startup world, we know momentum.
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Already here?.
I’ve been working with an IVF startup, @herasight, that has already screened hundreds of embryos. Today we come out of stealth with a paper showing that our predictors for 17 diseases — validated within-family — beat the competition, with improved performance in non-Europeans🧵
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RT @lugaricano: Today it is Bloomberg who has a long read on the AI Becker problem: .- US unemployment for recent college grads hit 5.8% (4….
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Today it is Bloomberg who has a long read on the AI Becker problem: .- US unemployment for recent college grads hit 5.8% (4-year high). - Entry-level job postings down 35% since Jan 2023, with AI-exposed roles hit hardest. - Tech postings for junior roles fell 34% 2020-2025
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RT @chemadepablo: Esa es la cuestión. Una vocal del CGPJ reconociendo que todos menos uno votan lo que les dicen que deben votar. Cosas q….
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RT @R2Rsquared: The @IMFNews October Outlook report for Europe had this stunning graph. Every single office in the @EU_Commission should ha….
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RT @R2Rsquared: @vonderleyen is taking flak for the trade deal she signed with the US, but could she have done better?. Yes. Not in Scotl….
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RT @JohnHCochrane: ECB doubles down on climate. Sinful bonds will get lower collateral value. Oh, all sovereign debt is still risk free. Ma….
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RT @VincentGeloso: I’ve been thinking about this op-ed and all the replies it received, and all I can think about is how many people misund….
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Crucial point. A lot of industrial policy success discussion is ahistorical and apolitical.
📦 Can industrial policy work? Yes—the East Asian experience shows it can (at least partially). But its success rests on a key condition: labor control. 🇯🇵🇰🇷🇹🇼 Japan, South Korea, and Taiwan industrialized rapidly under authoritarian or semi-authoritarian regimes. Wages and
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RT @Scholars_Stage: This is a really valuable piece. A few of you might have remembered the rumors and reactions a month back arguing that….
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