In terms of wages, income, and wealth, Gen Z and Millennials are doing much better than previous generations. Corporate America is not failing the youth. It's only housing that's really broken.

“Nothing About This Is Accidental!” A stark warning from Britain’s leading historian of Nazi Germany and the expert witness who defeated David Irving, Sir Richard Evans. In this interview, he unpacks the new wave of revisionism that is spreading online. From Hitler revisionism

it's so crazy that American farmers are so immune from criticism that newspapers will publish articles blaming their pollution on something completely unrelated

Haven’t seen a single person explain why they think this is bad

Most entitled group in society?

"דוח העוני האלטרנטיבי" חירטט, ו-Ynet בלעו את הפיתיון בלי להבין מה הם מצטטים. קלטו איך אפשר ליצור נתון מפחיד מכלום: ב"דוח העוני" של ארגון "לתת" הציגו שני מדדים שמתחפשים למדדי יוקר מחיה: עלות המחיה המינימלית, שכוללת (לכאורה) רק צרכים בסיסיים, ועלות המחיה הנורמטיבית, שאמורה לייצג

Whoever can kill this fake chart wins the next Econ Nobel

A Big Mac was $2.45. The average wage in 1994 was $11.33. One hour of work bought 4.6 Big Macs Today: Big Mac is around $6. Average wage is $31.53. One hour of work buys 5.2 Big Macs No one took anything from you!

Even if you adjust for hours worked, US real GDP per hour was 22% higher than the EU in 2023 and 15% higher than the Euro Area.

People love to try to dunk on GDP. But we keep using it because it's so informative about the things that matter: child mortality, happiness, education. And, unlike a "happiness" metric, it can actually inform policymakers. My defense of GDP in Vox vox.com/policy/471950/…

GDP is good because it's the hardest number to fake without people noticing. Any economic benchmark will be gamed will be, maybe unintentionally. but GDP is the hardest one because there are three ways of calculating it, and it correlates to other things so you can check it

One problem with antitrust thinking and enforcement is how little updating there is based on experience and evidence. Much less than you see in macro policy--and to be clear there is not enough of it in macro policy either. Take the case of Roomba. A 🧵 .

Very happy that our paper received the DFA Prize for Best Paper in the Journal of Finance. The literature on wealth inequality has been highly influential in public debates, yet it largely ignores a key way households save over the life cycle: Social Security. We show that

It has to be said, Substack is truly an incredible platform. The articles I read on there cut all the nonsense filler and condense all the good, interesting substance in a nice little package where I can chat with the author on demand.

Video message from Federal Reserve Chair Jerome H. Powell: federalreserve.gov/newsevents/spe…

A terrific statement from a true statesman. I am grateful for everything Chair Powell is doing to resist this outrageous attempt by the President to use lawfare to subvert the Fed’s responsibility to pursue the objectives set for it by law—maximum employment and price stability.

They just created a million Jerome Powells.

Few people have been more consistently critical of the Fed, and of central banking generally, than I have been in the course of my career. Yet so far as this face-off is concerned, I stand firmly with Jay Powell, and against Trump and his henchmen.