political economy
How do you avoid violent redistribution of wealth?: Property rights defenders
What you own is yours In 1215, the barons forced King John to seal the Magna Carta. The clause that mattered: no freeman shall be deprived of his property except by lawful judgment. The Fifth Amendment codified it.... How do you avoid violent redistribution of wealth?: Redistributionists
The napkin Piketty published the number that mattered on a napkin: r > g. The rate of return on capital exceeds the rate of economic growth. It has exceeded it in every century for which we have data except 1914 to 1975, when two world wars and sixty million dead temporarily... Is material abundance actually possible?: Distribution critics
The richest country in history The United States. 37 million in food insecurity. 580,000 sleeping outside on a given night. Infrastructure grade of C-minus from its own engineers. If abundance were a function of productive capacity, the US would have achieved it decades ago.... Is material abundance actually possible?: Post-scarcity theorists
Keynes was half right In 1930, Keynes predicted his grandchildren would work fifteen-hour weeks. He was right about productive capacity. Output per worker-hour in the US has tripled since 1950. The work week has not shortened. The surplus went somewhere. We can tell you where.... Is material abundance actually possible?: The Story
Enough for ten billion In 2023, global agriculture produced enough calories to feed approximately 10.1 billion people. The planet held 8.1 billion. That same year, 735 million people experienced chronic hunger — a number that had risen since 2019.... What's actually happening with renewables? Hype, revolution, or both?: Transition realists
The layering In 1900, coal provided 95 percent of commercial energy. Oil was a curiosity. Then the internal combustion engine arrived. Within fifty years, oil dominated transportation. Coal was finished, right? Global coal consumption in 2023: 8.5 billion tonnes. Highest ever.... What does developmental history reveal that's hard to see any other way?: Materialists
The timing In 1807, Parliament voted to abolish the British slave trade. In 1806, the British had captured the Cape Colony, securing a route to India that no longer depended on Caribbean sugar profits. The coincidence is not a coincidence.... Why does wealth keep concentrating?: Chicago school
The crisis they forgot In 1979, inflation was 13.3 percent. Unemployment hit 7.5. Mortgage rates climbed past 12. The economy Volcker inherited was not a victim of deregulation — deregulation had barely started.... Why does wealth keep concentrating?: Democratic socialists
The steelworker’s math In 1970, a steelworker in Youngstown earned enough to buy a house, send two kids to college, and retire with a pension. He needed a union card and forty hours.... Why does wealth keep concentrating?: The Story
The janitor and the hedge fund In 2023, a janitor named Maria Gonzalez in Phoenix worked two full-time jobs and still qualified for Medicaid. She earned $34,000 a year. That same year, the top twenty-five hedge fund managers collectively earned $26.3 billion.... If everyone got a basic income, would they flourish or check out?: Austrian school
The Sunday that changed everything August 15, 1971. Nixon suspended dollar-to-gold convertibility. Sunday evening. Television address. No consultation with the IMF. He called it temporary. It has been fifty-five years.... What is the US healthcare system actually optimizing for?: Structural critics
Follow the money The US healthcare system employs 22 million people. It’s the largest employer in most states. It generates $4.3 trillion in annual revenue, which means every year, $4.3 trillion flows to people and institutions that need next year to be at least as expensive as... The Open Question Feb 25: What's the future of America? Are we (USA) in a decline? Are we thriving? Does it matter? Think The Fourth Turning, Ray Dalio's changing world order, The Decline of the Roman Empire, rise of China, and whatever else you bring.
#openquestion
this makes me think: I'm not a history buff, but a few years ago I read The Lessons of History by Will & Ariel Durant, and it changed my mind about income inequality—I used to think, "As long as the lives of the lowest are improving, why does the gap matter?" But then the Durants...