“Economics Roundup #1” by Zvi

I call the section ‘Money Stuff’ but as a column name that is rather taken. There has been lots to write about on this front that didn’t fall neatly into other categories. It clearly benefited a lot from being better organized into subsections, and the monthly roundups could benefit from being shorter, so this will probably become a regular thing.

They Took Our Jobs

Quite the opposite, actually. Jobs situation remains excellent.

Whatever else you think of the economy, layoffs are still at very low levels, the last three years are the lowest levels on record, do note that the bottom of this chart is 15,000 rather than zero even without adjusting for population size.

Ford says it is reexamining where to make cars after the UAW strikes. The union responded by saying, essentially, ‘f*** you, pay me’:

“Maybe Ford doesn’t need to move [...]

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Outline:

(00:24) They Took Our Jobs

(01:34) Company Formations Seem Permanently Higher

(02:06) Whoops

(03:29) Vibecession Via Healthcare Spending

(05:20) Vibecession Look at All the Nice Things and Good Numbers

(08:24) Vibecession via Inappropriate Price Index

(13:15) Vibecession Anyway

(15:04) Vibecenssion via Interest Rates

(16:37) Prediction Markets

(17:46) The Efficient Market Hypothesis is False

(18:09) Failed Markets in Everything

(23:08) Failed Markets in Transparency

(25:43) Unprofitable Markets in Air Travel

(27:49) Unprofitable Markets in Ground Transportation

(32:10) Detroit, Georgianism

(33:29) California Approaches the Tax Tipping Point

(34:00) Taxing On the Margin

(35:39) Occupational License as Security Bond

(38:14) The Work From Home Debate

(38:50) Patrick McKenzie Explains it All

(41:15) In Brief

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First published:
March 26th, 2024

Source:
https://www.lesswrong.com/posts/hCNt7dc7QXuKB2gsR/economics-roundup-1

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Narrated by TYPE III AUDIO.