Allison's bookmarks (tagged economics)

Most recent

The Value of Nothing: Capital versus Growth - American Affairs Journal

"In liberal capitalism or plutocracy, on the other hand, the oligarchs will use their power to resist development. For them, hoard­ing capital to preserve high returns and asset values is preferable to investing in growth at lower returns—if not always on an absolute basis, then at least relative to the rest of society." the last section on silicon valley is chef's kiss

capitalism economics politics

America’s Gambling Addiction Is Metastasizing - The Atlantic

"Gambling relies on addiction for its business model to function; everybody knows that. But addiction is also the business model for a huge chunk of Silicon Valley. Gambling ruins lives by way of soul-crushing debt; everybody knows that too. But so do the American educational system and the health-care and real-estate markets, which have been rigged by the people at the top to extract as much as possible from the suckers otherwise known as regular people. For most Americans, to participate in the economy in the most basic ways requires engaging in existential risk."

politics economics history sports

Web3 is Bullshit

"We’ve gone from the world of abundance in cloud computing where the cost of compute time per person was nearly at post-scarcity levels, to the reverse of trying to enforce artificial scarcity on the most abundant resource humanity has ever created. This is regression, not progress."

cryptocurrency internet web economics

The Intellectual Incoherence of Cryptoassets

"Crypto investments cannot be anything but a zero sum game, and many are actually massively negative sum. In order to presume a crypto investments functions as a store of value we simultaneously need to suppose an infinite chain of greater fools who keep buying these assets at any irrational price and into the future forever."

cryptocurrency economics culture