Brad DeLong's Grasping Reality $10 / month

Brad DeLong's Grasping Reality explores economic history, economics, political economy, finance, and forecasting with a focus on understanding and addressing the complexities of contemporary global challenges. It critically analyzes current events, historical occurrences, and theoretical perspectives to offer insight into economic inequalities, democracy, neoliberal ideas, and geopolitical tensions.

Economic History Political Economy Finance and Forecasting Contemporary Global Challenges Economic Inequalities Democracy and Governance Neoliberalism Geopolitical Tensions

Top posts of the year

And their main takeaways

Paul Schmelzing Is Coming to Berkeley to Talk About Interest Rates since 1310!

130 implied HN points • 11 Feb 24
💰 Finance Interest Rates Economic Growth Financial Markets
  1. The graph shows a decline in global real interest rates over 800 years, challenging the idea of 'secular stagnation'.
  2. Interest rates' evolution over history raises questions about the relationship between the rate of profit, societal changes, and financial market dynamics.
  3. Factors like technological progress, income growth, and human behaviors impact the slope of the real intertemporal price system, affecting interest rates.

HOISTED FROM THE ARCHIVES: Origins of Fascism in the Modern Pace of Econo-Social Creative Destruction

123 implied HN points • 19 Feb 24
🚌 Education Philosophy Literature History Politics Science
  1. In the past, social networks largely determined who you were, but in modern times, you have the power to choose your own social network and reinvent yourself.
  2. With the rise of modern economic growth after 1870, the pace of change accelerated, leading to the disappearance of many traditional social roles and the need for individuals to adapt and choose new paths.
  3. Loneliness and totalitarianism can arise from the disconnection and lack of common experience in modern societies, with anger and desperation fueling negative solidarity, leading to negative consequences.
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BRIEFLY NOTED: For 2024-02-14 We

123 implied HN points • 14 Feb 24
🌍 World Politics Economic History Economics Global Warming Moral Philosophy Public Reason
  1. The COVID-19 depression and subsequent reopening have not generated consistent lessons for the future given its unique nature
  2. There are significant macro distortions in the current economy, including massive consumer spending shifts, supply chain disruptions, and job market imbalances
  3. Global warming continues to progress, as evidenced by alarming images and reports

Econ 115 :: The World Economy in the 20th Century :: Lecture 6 :: Post-1870 Technological Acceleration

115 implied HN points • 02 Feb 24
🚌 Education Economic History Globalization
  1. Technological advancements post-1870 were accelerated by globalization and the establishment of industrial research labs and modern corporations.
  2. Institutions like industrial research labs and modern corporations revolutionized the discovery, development, deployment, and diffusion of technologies, leading to modern economic growth.
  3. These institutions were successful because they were built on the foundations of systematic processes and sustained efforts, unlike earlier hit-or-miss approaches.

BRIEFLY NOTED: For 2024-03-07 Th

107 implied HN points • 07 Mar 24
💼 Business Economics Economic History Public Reason Neofascism
  1. Elon Musk's actions are generating controversy and dividing opinions. His decisions are affecting his employees and leading to legal battles.
  2. Passive investing creates opportunities for active investors through analyzing fundamental news, noise trading, and security analysis.
  3. Peter Drucker viewed corporations as potential leaders for societal betterment by subordinating markets to social needs and environmental protection.

Noting the Appearance of Chris Dixon's Book "Read, Write, Own": Am I Still Allowed to Believe in Web3?

99 implied HN points • 24 Feb 24
🕹 Technology Blockchain Web3 Cryptocurrency Investing
  1. Questioning beliefs in web3 technologies is valid, especially in the context of Chris Dixon's book 'Read, Write, Own'.
  2. Advocating for ownership and control of personal data on the internet, believing in the importance of owning digital tracks and controlling access to them.
  3. Suggesting that for credibility in promoting web3 technologies, there is a need for substantial investment in software infrastructure and genuine use cases rather than hyperbolic promotion.

A Note: What Is "Management" Anyway?

92 implied HN points • 28 Feb 24
💼 Business Management Consulting Theory Bureaucracy Market
  1. Management is different from hierarchical command-and-control, bureaucratic obedience, and market haggling. It's about reconciling various interests for the smooth operation of the system.
  2. Peter F. Drucker viewed the manager as a trustee of civilization and envisioned a role that balanced freedom, efficiency, equity, and order.
  3. Management is seen as a profession that aligns the interests of all stakeholders while ensuring the free development of individuals within society.

BRIEFLY NOTED: For 2024-02-25 Su

76 implied HN points • 25 Feb 24
💼 Business Economics Public Reason History
  1. Branko Milanovic discusses visions of inequality, highlighting the importance of technological and business-model research and development in market economies.
  2. Shifting expectations of Federal Reserve rate cuts reflect a debate about the impact of maniacal bubbles and policy near-neutrality in a balanced economy.
  3. The need for individuals to stay focused on reality outside media perceptions and the impact of lags in economic understanding discussed by Jeffrey Frankel supporting the idea that perceptions lag behind reality.

Were We Expelled from Egalitarian Eden Not by the Pomegranate, But by the Plough and the Ox? Perhaps...

76 implied HN points • 25 Feb 24
💾 History Inequality Agriculture
  1. The shift from gatherer-hunter lifestyles to farming and domestication of animals may have contributed to the emergence of enduring economic inequality.
  2. Increased civilizational complexity led to a rise in potential wealth inequalities, possibly through factors like tools, farm implements, domesticated animals, serfdom, and slavery.
  3. Exploring the dimensions of wealth acquisition and accumulation, such as tools, farmstead implements, animals, serfdom, and slavery, can help understand the expansion of possible wealth inequalities.

What To Do About the Dependence of the Form Progress Takes on Power?: Quick Takes on Acemoglu & Johnson's "Power & Progress"

76 implied HN points • 29 Feb 24
🚌 Education Technology Economics Social Issues Political Economy Innovation
  1. The distribution of technological progress can be influenced by the balance of power in both markets and politics.
  2. Technologies can have both positive and negative impacts on society, so it's important to consider the distributional effects.
  3. Diverse perspectives and opinions are crucial in shaping better and more equitable technological trajectories.

BRIEFLY NOTED: For 2023-03-18 Mo

69 implied HN points • 18 Mar 24
💼 Business Economics Global Warming Human Capital Neofascism
  1. Economic transformations involve recognizing opportunities, investing, experiencing euphoria, and dealing with crashes, crises, and adjustments.
  2. In the Biden Administration, there is notable tension between departments like Treasury and the Pentagon, hampering collaboration for economic change.
  3. Understanding collective intelligence and distributed cognition is crucial - global economic challenges require more than individual human capabilities.

"Slouching Towards Utopia": The Sean Illing "Grey Area" Interview

38 implied HN points • 22 Feb 24
🇺🇸 U.S. Politics Economic History Neoliberalism Political Ideologies
  1. The interview discusses economic growth and sustainable resource distribution, focusing on the perspectives of Friedrich von Hayek and Karl Polanyi.
  2. DeLong emphasizes the importance of historical perspective in understanding current economic and social challenges, advocating for a more inclusive and equitable economic model.
  3. The conversation explores the historical 'Long Twentieth Century' and its impact on human productivity, wealth creation, and the need for innovative solutions to address current existential challenges.