Do not mistake a resilient global economy for populist success
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Re: Do not mistake a resilient global economy for populist success
#2This is an unusually perceptive lede.
Re: Do not mistake a resilient global economy for populist success
#3Re: Do not mistake a resilient global economy for populist success
#4[deleted]
Re: Do not mistake a resilient global economy for populist success
#5> And it is America’s private sector, not industrial planners in Washington, which is chiefly responsible for the ai boom. The ongoing success of free markets is obscuring the damage protectionism is doing.
The AI boom is also largely being funded by defense spending on both sides of the Pacific. Without state investment this technological boom would also suffer.
Re: Do not mistake a resilient global economy for populist success
#6> And it is America’s private sector, not industrial planners in Washington, which is chiefly responsible for the ai boom. The ongoing success of free markets is obscuring the damage protectionism is doing. The AI boom is also largely being funded by defense spending on both sides of the Pacific. Without state investment this technological boom would also suffer.
Is it?
Re: Do not mistake a resilient global economy for populist success
#7> And it is America’s private sector, not industrial planners in Washington, which is chiefly responsible for the ai boom. The ongoing success of free markets is obscuring the damage protectionism is doing. The AI boom is also largely being funded by defense spending on both sides of the Pacific. Without state investment this technological boom would also suffer.
Public funding of STEM in universities too. Foundational research is underprovisioned by the market because it's a non-rivalrous and non-excludable public good. It's a market failure that is best addressed by governments fulfilling their role as providers of positive sum public goods.
Solar went through a similar cycle with German and US funding for foundational R&D in the 1970s, which was eventually picked up by China's industry when it was mature enough.
SpaceX too.
There's a yin and yang to public and private that populists on all sides are ideologically incapable of appreciating.
Re: Do not mistake a resilient global economy for populist success
#8The chart they put doesn't prove a point since the difference between today and the last elections in the US can't be appreciated (aside from the fact that in the entire period the drop is caused by automation too). Additionally you have to account for the time it takes to move production from a country to another.
This is not to say that just setting random tariffs to punish other countries is an effective strategy, but I do think that targeted limitation of imports are necessary in a society that is becoming extremely materialistic. My bet is that France's surcharge on Shein products will be the first of many
Re: Do not mistake a resilient global economy for populist success
#9Do not mistake economic indicators such as GDP or "growth" for meaningful measures of economic health.
Re: Do not mistake a resilient global economy for populist success
#10Well in the U.S., a majority of households are invested in the stock market via 401(k)’s. When their investments do well, the average Joe will give the incumbent president the credit.