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Lessons from America’s astonishing economic record

economist.com

251–260 of 528 posts

Re: Lessons from America’s astonishing economic record

#251

My 2 cents, some of the reasons America succeeds: (fact) America is a single market with a single language with basically a single set of regulations. Expansion is cheap in America. It makes a hell of a lot more sense to expand to another US city than it does to expand to Norway or New Zealand; but for a company in those countries, expansion is very expensive, expanding requires new laws, regulations, business entiti…

> they will revoke your passport for some time.

Ow, I never heard of this?

> They also have no access to capital, essentially.

This is like the most foundamentally important issue and you have in tucked away in a minor point

Raise invesment in US, you get $million for a minor stake in the company

Raise investment in UK, you get $100 K for a minor stake

Raise investment in Czech republic, you get $50K for 51%

Raise investment in Russia, they break your legs if you don't pay back. They don't understand thw difference between investment and debt.

And if you die they will pursue your family for your debts.

Raise investment in Zimbabwe.. I don't even know.

This is in jest, but the overall point is roughly this:

Non-westerners cringe when they hear 'Don't take China's money for Belt and road, it's a trap'. In 2nd/3rd world, securing capital for non-elites is impossible even if you just came up with a working fusion reactor.

The relevant amount of money isn't just with strings attached, it can be dangerous to life and limb.

> Americans are ambitious to a fault

Plenty of ambitious people in Russia, the problem is their activity is usually something detrimental to society.

Consider the dominance hierarchy

The top of American society is a billionaire entrepreneur, not sure where to place politicians, maybe a distant third. Civil servants are basicallt nobodys, they are treated worse than people working in the private sector, called lazy, etc.

Top of a society in Russia is FSB/ Security services. Second is politicians. Third is civil servants. Fourth is organised crime bosses. What do all these people have in common? They have the powet to ruin your life. And they use it.

Entrepreneurs are like 6th person down the food chain, and they are preyed upon by the layers above.

https://www.rferl.org/a/newspaper-says-russian-businessman-r...

This is also what the right wing does not understand, when life gets harsh, life of crime becomes more attractive. The world becomes god-eat dog, a man who didn't take advantage of a situation to enrich himself, is not an uostanding citizen. He is a loose who failed to peovide for his family.

Re: Lessons from America’s astonishing economic record

#252

Earlier quoted context omitted.

No examples needed. You can't adequately define "what you create", because nobody can. Where does your contribution begin, and end? Where does the contribution of your parents, your neighbors, your friends, your society begin, and end? To what extent did you create anything, or was it just a remix? Is everything a remix? Who are you? You have a unified, continuous sense of self, but most contemporary psychology finds…

If it wouldn't exist without your efforts, then you created it. There's no mystery to it. People freely willing to pay for it with their own money is sufficient evidence.

But if it wouldn't exist without other's people efforts too, then what? And they may be people you don't know. They may be people who are dead.

"paying with their own money" ... ack, not this simplistic nonsense again. People temporarily gain control over some measure of various economic resources. It's not their own money, beyond some temporary mutual agreement. Tomorrow, it may not be.

Also, people pay for things regardless of the creator or the morality of its creation. Their willingness to pay for something speaks to their relationship with the thing, not that of the thing's nominal "creator".

Re: Lessons from America’s astonishing economic record

#253

My 2 cents, some of the reasons America succeeds: (fact) America is a single market with a single language with basically a single set of regulations. Expansion is cheap in America. It makes a hell of a lot more sense to expand to another US city than it does to expand to Norway or New Zealand; but for a company in those countries, expansion is very expensive, expanding requires new laws, regulations, business entiti…

I am constitutionally incapable of lowering my expectations

My heart swells at this part and I want to cheer.

Re: Lessons from America’s astonishing economic record

#254

My 2 cents, some of the reasons America succeeds: (fact) America is a single market with a single language with basically a single set of regulations. Expansion is cheap in America. It makes a hell of a lot more sense to expand to another US city than it does to expand to Norway or New Zealand; but for a company in those countries, expansion is very expensive, expanding requires new laws, regulations, business entiti…

Consider Japan: (fact) a single market with a single language (fact) geographically isolated (fact) not much space (fact) burned to the ground in WW2 and yet for a while it was an economic powerhouse on the world stage. Taiwan, Hong Kong and S Korea, similar stories. So what is the common thread? Free markets.

Interestingly, among the Asian Tiger economies, their massive growth first unlocked during a period where they were not meaningfully democracies and their governments intervened heavily to pick winners. The proximate success of their economies was export oriented industry, but the industries and the companies within them were more or less hand picked by the ruling regimes.

The remarkable thing is that Korea, Taiwan, and Singapore have all successfully turned the corner to being functioning democracies that are still driving economic growth rather than devolving into corrupt dictatorships.

Re: Lessons from America’s astonishing economic record

#256

My 2 cents, some of the reasons America succeeds: (fact) America is a single market with a single language with basically a single set of regulations. Expansion is cheap in America. It makes a hell of a lot more sense to expand to another US city than it does to expand to Norway or New Zealand; but for a company in those countries, expansion is very expensive, expanding requires new laws, regulations, business entiti…

> I will export millions of dollars in products that I produced here, or I will die trying Why? Really. Maybe I’m in a midlife crises but I care about money less and less. I used to get a a lot of satisfaction from the simple fact of seeing the number on my bank account increase. Not so much in the past decade. My computer, phone, speaker, camera and other tech toys are amazing and not that expensive. Great food and…

Millions of dollars of product (e.g. gross revenue) is a statement about scale and impact, not personal profit.

Re: Lessons from America’s astonishing economic record

#257

My 2 cents, some of the reasons America succeeds: (fact) America is a single market with a single language with basically a single set of regulations. Expansion is cheap in America. It makes a hell of a lot more sense to expand to another US city than it does to expand to Norway or New Zealand; but for a company in those countries, expansion is very expensive, expanding requires new laws, regulations, business entiti…

> in some other countries, you're forbidden from starting a new company and they will revoke your passport for some time

Where the h. is this?

Re: Lessons from America’s astonishing economic record

#258
Almost every morning, I wake up and pinch myself to have the great good fortune to be born to UMC parents in the wealthiest, most flourishing and innovative place in the history of human civilization.

Also, s/o to the data visualization team at the Economist for some really clever, well done charts. You all are second to none.

Re: Lessons from America’s astonishing economic record

#260
post #34

Earlier quoted context omitted.

America operates on the principal that it is better to fail quickly and rebuild than it is to defend what’s not working to preserve the status quo for as long as possible. In a century marked by rapid technological change, it is probably better to hybridize the American and European approaches, allowing faster bankruptcies and more flexible job termination in Europe while also providing a more generous safety net in…

" America operates on the principal that it is better to fail quickly and rebuild than it is to defend what’s not working to preserve the status quo for as long as possible." The US is also willing to neglect and disenfranchise significant portions of the population and let them live in poverty, homelessness and ghettos. When you walk around SF, LA or New York it's astounding that you have super rich people live next…

When you say “significant portions of the population” and then reference a segment of society that could collectively all fit inside one college football stadium, it feels like hyperbole.

Despite what you read online, the amount of Americans who see unsheltered homeless on a daily basis is very low.

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