The hottest Economic History Substack posts right now

And their main takeaways
Category
Top World Politics Topics

BRIEFLY NOTED: For 2024-03-07 Th

Brad DeLong's Grasping Reality • 107 implied HN points • 07 Mar 24
💼 Business Economic History
  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.

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

Brad DeLong's Grasping Reality • 115 implied HN points • 02 Feb 24
🚌 Education Economic History
  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.

5 Years Ago

Spilled Coffee • 32 implied HN points • 26 Feb 25
💰 Finance Economic History
  1. The stock market can bounce back even after big drops like during the COVID-19 pandemic. If you had invested back when the market was at its highest before the crash, you would have seen a big gain over time.
  2. Missing just a few days in the market can really hurt your long-term investment returns. It's important to stay invested, even during uncertain times.
  3. Major world events can cause market crashes, but history shows that the stock market often continues to rise over time. This means it's wise to stick with your investments, no matter what happens.

Can America Escape the Triffin Dilemma?

European Straits • 11 implied HN points • 27 Jul 25
💰 Finance Economic History
  1. America's economic strength comes with a downside. To keep the dollar strong globally, the US has to run trade deficits, which hurts its own manufacturing base.
  2. The Bretton Woods Agreement in 1944 established the dollar as the world's main currency, but it created a system that eventually led to financial instability when the dollar outgrew its gold reserves.
  3. The 2008 financial crisis showed the flaws in the system as banks struggled without dollar funding, while America's focus on financial markets over manufacturing deepened the problem.
Get a weekly roundup of the best Substack posts, by hacker news affinity:

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

Brad DeLong's Grasping Reality • 38 implied HN points • 22 Feb 24
🇺🇸 U.S. Politics Economic History
  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.

All the Devils

Net Interest • 10 implied HN points • 01 Nov 24
💰 Finance Economic History
  1. Credit Suisse faced many scandals over the years, with problems ranging from excessive leverage to internal fraud. Many employees engaged in unethical behavior, which contributed to the firm's reputation and difficulties.
  2. During the 2000s, Credit Suisse grew and achieved record earnings, but underlying issues were present. The firm made risky acquisitions and ignored warning signs that would later affect its stability.
  3. A historical perspective reveals a pattern of mismanagement and scandal within Credit Suisse. Key figures in the company made questionable decisions that ultimately led to its downfall.

Selling Kelp

Street Smart Naturalist: Explorations of the Urban Kind • 19 implied HN points • 23 Sep 21
💾 History Economic History
  1. Kelp was once seen as a valuable resource in America for making potash, especially during a time when the country depended on imports from Germany.
  2. Despite initial excitement and plans for kelp processing plants in Puget Sound, they mostly failed to succeed due to stronger competition and external factors like the end of the war.
  3. Other ventures to use kelp, like creating a candy substitute, also did not meet success, showing that not all ideas for using local resources thrive.

History Extra for October 30, 2024

Letters from an American • 1 implied HN point • 01 Nov 24
💾 History Economic History
  1. On February 1, 1968, two sanitation workers in Memphis tragically died due to a malfunction in their garbage truck.
  2. This event sparked outrage among the 1300 Black sanitation workers, leading them to take action for better working conditions.
  3. Their struggle highlighted the need for labor rights and social justice during a critical moment in history.

Economic Activity in Context

In My Tribe • 1 HN point • 05 Mar 24
💼 Business Economic History
  1. Human interdependence is a key aspect of economic activity, involving psychology, sociology, and anthropology in addition to traditional economic theory.
  2. Specialization and trade, unique to humans, play a vital role in economic activity evolution, with increasing complexity observed over time.
  3. In human interactions, balancing individual, group, and societal level incentives presents challenges, with markets often being efficient at the societal level.

Econ 196: WEEK 1: Introduction, & the Very Longest Run Shape of Human Population History

Brad DeLong's Grasping Reality • 0 implied HN points • 02 Jan 26
🚌 Education Economic History
  1. The course is a quantitative, long-run global economic history class that teaches data-science literacy (including Python) to analyze population and income trends.
  2. Grades are intentionally generous but contingent on showing up, doing pre-class work, and participating—skip or zone out and you lose that privilege.
  3. Expect weekly short writing assignments, background readings, small data exercises, and optional Thursday Zoom sessions, with all logistics and materials posted on the course site.

Don't take history lessons from Apes

featherlessbipeds • 0 implied HN points • 15 Aug 23
💾 History Economic History
  1. Money has value based on people's belief in it and allows for indirect trade and wealth storage.
  2. Historically, different forms of money were used in trade, not a singular currency.
  3. During the Gold Standard, countries did not need to hold all currency value in gold reserves, and the system allowed for automatic adjustments in trade deficits.

The Ostrich: America’s Once and Future Bird

Bird History • 0 implied HN points • 29 Aug 23
💾 History Economic History
  1. In the late 1800s, there was a boom in ostrich farming in America due to high demand for ostrich feathers, which were a luxury accessory for women's fashion.
  2. Ostrich farming proved to be a profitable business, with each ostrich feather fetching up to $5, leading to a surge in ostrich farms and tourist attractions around them.
  3. The domestic ostrich industry saw a revival in the 1980s, but it eventually collapsed due to a speculative bubble, showing the cyclical nature of ostrich farming in America.

Why the Fed fears cutting interest rates too soon

Global Markets Investor • 0 implied HN points • 08 Feb 24
💰 Finance Economic History
  1. The Fed fears cutting interest rates too soon due to concerns about a potential inflation resurgence similar to the 1970s.
  2. The Federal Reserve in the 1970s under Arthur Burns made a significant policy mistake by cutting interest rates too soon, leading to high inflation rates later.
  3. Lessons from history emphasize the importance of not cutting interest rates prematurely, and the Fed is cautious about considering rate cuts until more data is available to assess inflation and economic indicators.

The Broken Bargain

Logos and Liberty • 0 implied HN points • 12 May 23
🇺🇸 U.S. Politics Economic History
  1. Robert Reich's 'Aftershock' analyzes the 2008 crash and emphasizes the need for fundamental social and economic reform.
  2. Reich highlights parallels between the lead-up to the Great Depression and the Great Recession, such as income inequality, increasing household debt, and speculative activity.
  3. Reich proposes policy solutions to restore the basic bargain, including a reverse income tax, a carbon tax, and higher marginal tax rates on the wealthy, among others.

The Problem with the Persistence Literature

Something to Consider • 0 implied HN points • 14 Mar 23
💾 History Economic History
  1. Many studies look at how past events affect the present but often don't help us understand future outcomes. It's easy to tell stories about what happened before, but challenging to predict how current events will shape the future.
  2. Some research does use past events to study how systems and institutions work, which is more useful. These studies can help us understand why some countries thrive while others do not.
  3. Not all papers in the persistence literature are valuable. If they only focus on how past events influence today without making any connections to the future, they might not be worth our time.

Investing and Valuation Lessons from the Renaissance

Musings on Markets • 0 implied HN points • 15 Aug 16
💰 Finance Economic History
  1. Investing requires faith, much like the builders of the Duomo had patience. You often need to trust your judgment and stick to your valuations, even when the market seems unpredictable.
  2. Many investment lessons are not new; they are just being forgotten and rediscovered. It's important to learn from past mistakes instead of assuming we're better than earlier investors.
  3. Combining storytelling and data is key in investing. Just as art and science can work together, being skilled in both narrative and numbers can lead to better investment decisions.

Investment consultants are (quietly) doing great

Fund Marketer • 0 implied HN points • 01 May 24
💰 Finance Economic History
  1. Investment consultants are becoming very influential in the market, with 85% of large investors relying on them for manager selection. This shows they play a key role in guiding investment decisions.
  2. The top twenty investment consultants control a large portion of the industry, making it easier for them to shape which managers are chosen by clients. This concentration means fewer choices for investors.
  3. Investment consultants warn that trendy investment options, like private assets, can be risky and often lead to disappointing results for late investors. It's important to be cautious and think long-term.