"The economy is just smart people paying beautiful people to promote stuff to insecure people." — @ShaanVP
"The economy is just smart people paying beautiful people to promote stuff to insecure people." — @ShaanVP
Valuable new ideas have become quite scarce, and so the small number of people who hold the rights to new ideas—whether it be the useful Facebook or the more dubious forms of mortgage-backed securities—earned higher relative returns than in earlier periods. The “rise in income inequality” and the “slowdown in ideas production” are two ways of descr
... See moreTyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
As economist Tim Jackson deftly put it, we are ‘persuaded to spend money we don’t have on things we don’t need to make impressions that won’t last on people we don’t care about’.45
Kate Raworth • Doughnut Economics: The must-read book that redefines economics for a world in crisis
Today’s economy is good at generating three things: wealth, the ability to show off wealth, and great envy for other people’s wealth.
Morgan Housel • Same as Ever: A Guide to What Never Changes
In today’s world, where ideas are increasingly displacing the physical in the production of economic value, competition for reputation becomes a significant driving force, propelling our economy forward.