Economy
What is Money, Anyway? is good intro article to economics. And here is a nice thread with more resources.
Lyn Alden & Patrick Boyle are great.
Liked this episode on issues with monetary policies.
Informationist Newsletter is great.
Notes
- Capitalism = making money through ownership of capital rather than purely by labour.
- Desire is suffering. Advertising induces desire to generate economic activity, and so could be construed as a form of paid torture.
- We're kept on the "hamster wheel" by a carrot, not a stick.
- It is undeniably true that we don't need the overwhelming majority of things consume be happy. People have found happiness without being rampant consumers for thousands of years. Unfortunately, advertising has directly influenced people's ability to find happiness without consumption. The problem is not everyone can consume everything they believe is required to be happy. Furthermore, many people give up work/life balance or go into debt-slavery in order to try and consume their way to happiness. As a result, people who might otherwise be happy are made unhappy by in significant part by advertising.
- Even worse, if you actually do reach your consumption quota, you find it doesn't make cause lasting happiness. Most people infer that the answer is to consume more, and they end up killing themselves on the hedonic treadmill.
- Math skills and familiarity with the intermediate micro/macro/metrics coursework are far more important for grad school admissions than the pop economics books on that reading list.
- Hyperinflation would generally only occur if the US was using "printed money" to pay debt, which it isn't doing. It's using the money to invest in individuals and to create private capital. The theory goes that the money is not just paid back (in the form of tax revenue) but is actually paid back with a positive return.
- NFTs, cryptocurrencies, and meme stocks are so popular and logic has nothing to do with it. This is an act of desperation in response to current and previous generations rigging the system and hoarding their wealth.
- Banks can only deal in the currency of their country. So if someone has US dollars in a bank, that money is in a US bank. EU dollars, in an EU Bank. Just because you might have EU in your US account doesn't mean the money is in a US bank. It's in a EU bank that your US bank is partnered with. Money basically never leaves a countries banking system. This is why sanctions work.
- Inflation isn’t caused by more money alone, it’s the result of an economy hitting bottlenecks on the supply side (sometimes as a result of excess demand, sometimes because supply is disrupted.
Links
- Global Capitalism: A Looming Economic Crisis
- Supply, Demand, and the Value of Markets (2019)
- The changing structure of American innovation: Some cautionary remarks for economic growth (2019)
- Bridgewater’s Ray Dalio Discusses the Impact of China’s Growth on the World Economy (2019)
- Economic principles - How the economic machine works.
- Ray Dalio AMA (2019)
- Some guidelines (not rules) for surviving a recession
- The Economics of Kenneth J. Arrow: A Selective Review (2019) (HN)
- Lectures in Quantitative Economics with Python (2019)
- QuantEcon - Open source code for economic modeling.
- Against Economics (2019)
- Money creation in the modern economy (2014)
- Negative Interest Rates Are Going to Ruin Everything (2020) (Tweet) (HN)
- The Economy online book
- CORE - Economics for a changing world.
- EconDB - Economic overviews of countries.
- Economic Research at the St. Louis Fed - Expand the frontier of economic knowledge by producing high-quality original research in the areas of macroeconomics, money and banking, and applied microeconomics.
- Ask HN: What are you reading to make sense of the economy? (2020)
- Stripe Press - Publishes books about economic and technological advancement. (HN)
- Explained | The Stock Market (2020)
- The Stock Market vs. The Economy (2020)
- Naked Capitalism - Fearless commentary on finance, economics, politics and power.
- HN: The Fed Will Buy Bond ETFs Now (2020)
- Understanding The Current Macroeconomic Situation with Scott Sumner (2020)
- Georgism - Single tax system. (HN)
- Ask HN: Why do we pay taxes if the Fed can just print money? (2020)
- What are the most useful concepts from linear algebra that are applied in graduate level economics? (2020)
- Do illegal immigrants take more from a country than they contribute? (2020)
- Why Isn't the Whole World Developed? Lessons from the Cotton Mills (1987)
- Is a trillion-dollar worth of programming lying on the ground (2020) (HN)
- Declining worker power versus rising monopoly power (2020) (HN)
- Long-run money neutrality explained (2020)
- Notes on the Crises
- Is there any reason to not expect hyperinflation in the US? (2020)
- Meditations On Moloch (2014)
- Just Too Efficient (2020) (HN)
- Why Do People Stay Poor? (2020) (HN)
- Basic Economics - Thomas Sowell (2003)
- What harm do minimum wages do? (2020) (HN)
- Matt Levine Writing
- Banks create money, but it's less impressive than it sounds (2020) (HN)
- Digital Euro (2020) (PDF) (HN)
- Self-signaling and diagnostic utility in everyday decision making (2001) - "self-signaling" is one of the more interesting concepts to come out of behavioral economics. The idea is that some of our behaviors (especially economic behaviors) are really about telling yourself something about yourself. (Tweet)
- Economics for the future – Beyond the superorganism (2020)
- Faster Growth, Fairer Growth: Policies for a High Road, High Performance Economy (HN)
- Banks, QE, and Money-Printing (2020) (HN)
- Ask HN: Lost Economic Theories: Printing Inflation-Free Money? (2020)
- Freeing Econ 101: Beyond the Grasp of the Invisible Hand (2018)
- Exponential Economist Meet Finite Physicist: Energy growth cant continue forever (2012)
- Why Privatization Is Wrong (2020) (HN)
- EconML - Python Package for ML-Based Heterogeneous Treatment Effects Estimation. (Web)
- Best Economics Books of 2020
- The Enlightened Economist - Economics and business books.
- The Great Reset | World Economic Forum
- The Fraying of the US Global Currency Reserve System (2020) (HN) (HN 2)
- Why Do People Stay Poor? (2020) (HN)
- What recent economics book did you really like? (2021)
- How Money Works (2021)
- Economic Research - St. Louis Fed
- How religion shaped modern economics (2021) (HN)
- Five Economics Books Expert Recommendations
- Narrative Economics
- HN: How this Ends (2021)
- Economics Reddit Wiki Recommended Reading
- The US government is inviting inflation (2021) (HN)
- Resources to history of inflation and its lessons
- Food Prices Are Soaring Faster Than Inflation and Incomes (2021) (HN)
- Why inflation is not a threat (2021) (HN)
- Foundations of complexity economics (2021) (HN)
- Where do I start my economics journey? (2021)
- Principles of Microeconomics
- Macroeconomics - Olivier Blanchard
- What is your favorite economics paper? (2021)
- Labor shortage or terrible jobs? (2021) (HN)
- The Ball and Supply Chain (2021) (HN)
- Do the 'rich' pay less tax? (2021)
- Hyperinflation FAQ (2012)
- The inflation economy (2021)
- Inflation and Investing: False Alarm or Fair Warning? (2021)
- Ask HN: Are We in a Mega Bubble? (2021)
- Incentives in economics are wrong, but how? (2021) (HN)
- A New Macroeconomics? (2021) (HN)
- Debt: The First 5,000 Years (2011)
- Against overuse of the Gini coefficient (2021) (Tweet)
- Karl Marx: Capital - A Critique of Political Economy (1887)
- A catalog of wealth-creation mechanisms (2009) (HN)
- Why Does Quantitative Easing Benefit the Rich? (2021) (HN)
- A Nobel Prize for the Credibility Revolution (2021)
- 2021 Nobel Prize for Economics (HN)
- Institute for New Economic Thinking
- Lift the minimum wage and employment still rises? How to anger the establishment and win a Nobel Prize (2021) (Reddit)
- List of countries by total wealth - Wikipedia
- NBER - National Bureau of Economic Research.
- What caused all the supply chain bottlenecks? (2021) (HN) (Summary)
- Indexing the creator economy (2021) (Tweet)
- Collection of economic resources introducing neoclassical and Austrian economics
- Financial innovations brought by technology (2021) (HN)
- Why Everything is Suddenly Getting More Expensive — And Why It Won’t Stop (2021)
- Does QE Cause Wealth Inequality? (2021) (HN)
- Money & Macro - YouTube
- Global QE Tracker
- Is The World Deglobalising? (2021) (HN)
- Dart - Explore income and wealth inequality around the world
- A Brief History on Economic Theory (aka no one ever knew what was going on) (2021)
- Every Country's Top Export and Import (2021)
- Exploring Economics - Open access, e-learning platform on pluralist economics.
- The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy by Stephanie Kelton (2020)
- Worker pay isn’t keeping up with inflation (2021) (HN)
- Make Ticker Tape Parades Great Again: A Conversation with Peter Thiel (2021)
- Visualizing the $94 Trillion World Economy in One Chart (2021)
- IndexMundi - Detailed country statistics, charts, and maps compiled from multiple sources.
- “Play-to-Earn” and Bullshit Jobs (2021) (HN)
- Why Doesn't Software Show Up in Productivity? (2021)
- EconGraphs - Intuitive interactive visualizations of key concepts in economics.
- What are the most contested and cutting-edge questions in economics today? (2022)
- How We Broke the Supply Chain (2022)
- We Were Warned About the Ports (2022) (Tweet)
- U.S. is considering a radical rethinking of the dollar for today's digital world (2022) (HN)
- Macrotrends - Premier Research Platform for Long Term Investors.
- economy - Economy simulator library in Go.
- We shouldn’t push a positive mindset on those in poverty (2022) (HN)
- Supply Studies Syllabus
- Any good podcasts about economics for beginner? (2022)
- The Modern History of Economic Sanctions (2022) (Tweet)
- Country Economies
- Just Say No to CBDCs (Reddit)
- We must return to an economy fueled by innovation, rather than disruption (2022) (HN)
- How entire generation learned about money, game theory from Runescape
- How Asset Managers Have Upended How Modern Capitalism Works (2022)
- Modern Monetary Theory, explained (2019)
- Any book or essay recommendations that talk about alternatives to our current economy or society? (2022)
- Wealth: A New Era of Economics (2015)
- Wartime Commercial Policy and Trade between Enemies (2021)
- What is Money, Anyway? (2022) (HN)
- Inflation, Interest Rates and the Fed: A Dissent (2022) (Tweet)
- Gary Schnitkey's research
- Ask HN: How can I learn macroeconomics properly? (2022)
- What’s the best route to learn a solid foundation on economics? (2022)
- Critique of Techno-Feudal Reason (HN)
- Inflation or Recession (2022)
- List of unsolved problems in economics - Wikipedia (HN)
- Will U.S. debt cause a global collapse? (2022)
- Inflation, part 1: On shelter futures (2022) (HN)
- The Fed has made a historic mistake on inflation (2022) (HN)
- What books do you need to read, if you plan on being an economist? (2022)
- Why Sri Lanka is having an economic crisis (2022) (Tweet)
- All poverty is energy poverty (2022) (HN)
- What to read to understand central banking (2022) (HN)
- Great resources to understand banking (2022)
- Ask HN: Why do we need central bank digital currency (CBDC)? (2022)
- peruvian_bull - Reddit - Does nice analysis on economy. (Twitter)
- Coding for Economists (Code)
- Patrick Boyle - YouTube
- Trading Economics - View more than 20 million economic indicators for 196 countries.
- Are We Headed Towards a Monetary Breakdown? | Jeff Snider (2022)
- The Informationist Newsletter | James Lavish - Takes one financial concept and simplifies it for you in super easy to understand text.
- Large language models as simulated economic agents (2022) (HN)
- Money creation in the modern economy (2014) (HN)
- GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models (2023)
- LSTM neural networks for nowcasting economic data
- Sanctions and the Exchange Rate (2022)