The hottest Economic Policy Substack posts right now

And their main takeaways
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Top World Politics Topics

Trump Promised Voters Lower Prices: He Lied—& People Are Angry

Brad DeLong's Grasping Reality • 184 implied HN points • 02 Dec 25
🇺🇸 U.S. Politics Economic Policy
  1. Affordability is mostly people’s anger at high nominal prices after a one‑time inflation jump, with tariffs and housing costs making the pain worse; political debate should call out broken promises to cut prices and focus on raising incomes and reducing monopoly-driven rents instead of promising magic price drops.
  2. The labor market looks frozen at the margin — hiring is paused even though unemployment is low — because tariff uncertainty and AI-driven investment make firms reluctant to hire; policy should reduce trade uncertainty and incentivize hiring, apprenticeships, and retraining.
  3. The current AI boom is propping up demand and investment but is uneven, uncertain, and may be misallocated; smaller, cheaper models and more deployment-focused investment across many firms could deliver broader benefits than a hyperscaler datacenter arms race.

A $140,000/Year Poverty Line? I: Stewarding & Utilizing Resources

Brad DeLong's Grasping Reality • 176 implied HN points • 04 Dec 25
🇺🇸 U.S. Politics Economic Policy
  1. Calling an income like $140,000 "poverty" is misleading because modern material standards mean people at that level usually have access to comforts and goods that were once luxuries.
  2. Many well-off people still feel poor due to precarity, constant social comparison, and a lack of centeredness and mindfulness that make them live unwisely.
  3. Living wisely and well depends on stewardship of resources and attention: prioritize saving and reliable income, avoid status-driven spending, and cultivate stability and sensible habits.

Chartbook 332 The radicalization of Trump's GOP and the realignment of the American electorate.

Chartbook • 2517 implied HN points • 10 Nov 24
🇺🇸 U.S. Politics Economic Policy
  1. Trump's return to power shows how voters are upset with the current leaders, wanting change after COVID and inflation. Many incumbents around the world have struggled recently, making his win less surprising.
  2. The political landscape in America is shifting, with Trump appealing more to working-class voters while wealthier, college-educated individuals are increasingly voting for Democrats. This shift highlights growing divides between different social and economic groups.
  3. Despite emphasizing issues like inequality and social justice, Democrats are losing touch with less affluent voters who are facing economic struggles. Ironically, many lower-income Americans who supported Trump might be hurt by his policies.

How we could return to the productivity growth of the 1990s

Noahpinion • 4705 implied HN points • 18 Mar 24
💼 Business Economic Policy
  1. Productivity growth is crucial for controlling inflation, maintaining a stable economy, and improving living standards.
  2. To boost productivity growth, a combination of macroeconomic factors like full employment, investment incentives, and stable supply-side conditions is essential.
  3. Three key factors that fostered productivity growth in the 1990s were full employment, high fixed investment, and stable supply with low inflation; replicating these conditions today would require strategic policy interventions.

Stock Buybacks Explained

Concepts of Finance 🧠 • 399 implied HN points • 04 Apr 24
💰 Finance Economic Policy
  1. Stock buybacks happen when a company uses its extra cash to buy back its own shares. This can make the remaining shares more valuable by increasing earnings per share.
  2. Buybacks can be good for investors, as they might boost stock prices without having to pay taxes on dividends right away. However, critics say companies should focus on growth and investment instead.
  3. There are downsides to buybacks too. Sometimes, management might use them to inflate their bonuses, or they might buy back shares at the wrong time, leading to poor long-term results.
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✨ 5 takeaways from Peter Thiel's NYT chat with Ross Douthat

Faster, Please! • 731 implied HN points • 30 Jun 25
🇺🇸 U.S. Politics Economic Policy
  1. Peter Thiel believes that the U.S. has been experiencing a kind of economic stagnation for several decades. While things may have improved slightly, we haven't reached the exciting advancements that were once expected.
  2. Thiel argues that we can't simply stop pushing for economic growth, even if there are environmental concerns. He feels that without growth, our society could face serious collapse and become less hopeful.
  3. The idea that we should limit growth is seen as harmful by Thiel. He believes that continued progress is essential to lift people out of poverty and create a brighter future for everyone.

The Private Market Trap Edition

Why is this interesting? • 663 implied HN points • 01 Jul 25
💼 Business Economic Policy
  1. There's a huge amount of money stuck in private companies, making it hard for them and investors to get cash out. This is causing problems for new businesses trying to grow.
  2. The way companies go public has changed a lot, making it harder for newer companies to reach stock exchanges. Many big private companies are now creating their own ways to sell shares.
  3. With less investment going to new startups and less incentive for employees, the U.S. might struggle to create the next big companies, threatening innovation.

Zero-sum Thinking and the Labor Market

Kyla’s Newsletter • 558 implied HN points • 23 Jul 25
🇺🇸 U.S. Politics Economic Policy
  1. The job market today is tough for new college graduates, especially young men. Many are facing higher unemployment rates than in the past, making it hard to find stable work.
  2. People are shifting to a zero-sum mindset, believing that one person's success means another must fail. This thinking can lead to despair and a feeling that everyone is competing for a smaller pie.
  3. Our education and training systems need to change to reflect the current job market. Instead of just focusing on college, we should find what parts are working and how they can better prepare people for today's economy.

Capitalist Individualism Is Killing Us

JoeWrote • 130 implied HN points • 12 Dec 25
🇺🇸 U.S. Politics Economic Policy
  1. Capitalism concentrates power in workplaces where workers lack democratic control and are paid less than the full value of their labor.
  2. That system fuels hyper‑individualism which erodes social solidarity, turning people into competitors and undermining collective actions like public health measures and social safety nets.
  3. Democratic workplaces and strong social programs can rebuild mutual care and solidarity, aligning individual wellbeing with the common good.

The Abstainer in Chief Gets Friendly With Marijuana

Common Sense with Bari Weiss • 97 implied HN points • 21 Dec 25
🇺🇸 U.S. Politics Economic Policy
  1. The president, who doesn’t drink or smoke, signed an executive order to reschedule marijuana and speed up federal review.
  2. Rescheduling could loosen regulations, reduce tax burdens for cannabis companies, and open the door to federal recognition of medical marijuana.
  3. The move breaks with traditional Republican drug-policy stances and has unsettled some conservative allies, even as the cannabis industry has long leaned toward Democrats and progressives.

Stock Investing for Babies

Common Sense with Bari Weiss • 134 implied HN points • 03 Dec 25
🇺🇸 U.S. Politics Economic Policy
  1. Michael and Susan Dell are donating $250 savings accounts for up to 25 million children to create starter savings for kids.
  2. They limit eligibility to zip codes with median incomes under $150,000 to avoid the wealthiest areas, but that threshold still covers most of the country and is well above the national median income.
  3. The government savings program the donation supplements is structured so upper‑middle and middle‑class families benefit far more than working‑class or poor families, making the policy design the bigger equity problem.

🗽 America at (almost) 250: It still works!

Faster, Please! • 639 implied HN points • 04 Jul 25
🇺🇸 U.S. Politics Economic Policy
  1. The U.S. economy is doing well and outpacing its European competitors. It has become much larger than Europe's economy in recent years.
  2. China is considered a rival, but its growth is slowing down and won't lead to lasting dominance. America’s free-market system is still strong and appealing to global talent.
  3. Despite facing problems like rising debt and political issues, America's core strengths remain competitive. The country is likely entering a new and positive phase as it approaches its 250th birthday.

Canada's Mediocracy

Diane Francis • 1618 implied HN points • 05 Jun 23
🇺🇸 U.S. Politics Economic Policy
  1. Canada is giving little military support to Ukraine, especially compared to what other countries like the US are doing. The government has also not met its NATO defense spending commitments.
  2. Trudeau's government lacks expertise, hiring outside consultants for guidance and has made several decisions that hurt Canada's energy sector and military capabilities. This raises concerns about national security.
  3. There are serious issues of foreign influence on Canadian politics, especially from China, which have not been adequately addressed by Trudeau and his administration.

Cea Weaver vs. The Entire Field Of Economics

QTR’s Fringe Finance • 60 implied HN points • 11 Jan 26
🇺🇸 U.S. Politics Economic Policy
  1. Replacing market signals with collective ownership and a flat 30% rent destroys incentives. Builders stop building, maintenance declines, and allocation becomes political instead of efficient.
  2. Funding this by printing money fuels inflation and shifts purchasing power to asset holders and political insiders. That makes costs rise and hurts workers, renters, and savers.
  3. The combined effect is not more affordable housing but less housing and worse quality, plus expanding bureaucracy that benefits friends while everyone else waits. Shrinking private investment and political allocation create scarcity and decay.

Trumpxit & the Likely Undoing of American Exceptionalism

Brad DeLong's Grasping Reality • 584 implied HN points • 05 Jul 25
🇺🇸 U.S. Politics Economic Policy
  1. The U.S. economy is facing serious challenges due to unpredictable trade policies, which could weaken its global leadership. If companies can't trust the rules, they might look for safer markets to invest in.
  2. America's true strength comes from its ability to share ideas and talent globally. By reducing that openness, it risks losing innovation and competitiveness over time.
  3. History shows that nations that close themselves off not only harm their economies but also lose influence in the world. It's essential to stay integrated and foster connections with others.

Our Chaos-Monkey, Dementia-Suffering, Cognitively-Addled President, & the Bureau of Labor Statistics

Brad DeLong's Grasping Reality • 468 implied HN points • 01 Aug 25
🇺🇸 U.S. Politics Economic Policy
  1. The independence of economic data is crucial, and political influence can harm its integrity. When data is manipulated for politics, it creates distrust and confusion.
  2. Recent events show a drastic decline in the reliability of economic reports. If government statistics are seen as biased, it undermines economic policies and public trust.
  3. Political leaders calling for changes to economic data collection can lead to dangerous precedents. This politicization of facts could hurt the economy and people's lives.

The "Wall Street Journal" Tells Us: Trump Takes Command of Inflation, Which Was Massively Unsatisfactory under Biden

Brad DeLong's Grasping Reality • 1353 implied HN points • 24 Jan 25
🇺🇸 U.S. Politics Economic Policy
  1. Recent inflation rates are slightly above the targets set by the Federal Reserve, but not alarmingly high. This suggests that there isn't an urgent need for drastic policy changes right now.
  2. There is skepticism about Trump's understanding of monetary policy and how he believes oil prices affect overall inflation. Many experts think he is outdated in his thinking.
  3. Trump's comments on inflation and interest rates may not seriously influence economic policy due to his advisor's stance on maintaining the Federal Reserve's independence.

Why Cash Isn’t Truly King: Cash Transfers, Opportunity, & Real Engines of Transformation

Brad DeLong's Grasping Reality • 384 implied HN points • 20 Aug 25
🇺🇸 U.S. Politics Economic Policy
  1. Cash alone doesn't solve poverty. It helps with short-term comfort but doesn't lead to big changes in people's lives or opportunities.
  2. Building skills and connections is crucial. Opportunity comes from investing in education and forming networks, not just having money.
  3. Programs that provide resources for education and health have a larger impact on long-term success than cash payments. It's about creating an environment that supports growth.

Breaking Burry

QTR’s Fringe Finance • 163 implied HN points • 13 Nov 25
💰 Finance Economic Policy
  1. Short sellers like Michael Burry often see problems in the market before others do, but current market conditions are making it hard for them to profit.
  2. The market has become distorted due to excessive liquidity, which is making poor companies appear successful and keeping bad investments afloat.
  3. Burry's decision to step back from managing his fund signals awareness of these distortions, as he believes that the fundamentals will eventually matter again when the market returns to reality.

A Note on the Closing of the Path to Future U.S. Hegemony—Economic, Political, Geostrategic, Cultural

Brad DeLong's Grasping Reality • 453 implied HN points • 29 Jul 25
🇺🇸 U.S. Politics Economic Policy
  1. The U.S. is losing its power and influence on the world stage quickly due to poor leadership and chaos in politics. This could lead to a world where no single country dominates, instead resulting in a balance of powers.
  2. The possibility for China to rise as a new global leader is uncertain. While they have the means, it’s unclear if they will be able or willing to take on such a role effectively.
  3. Hegemony isn't guaranteed; it requires ongoing effort and cooperation with other nations. The past strength of the U.S. didn't ensure its future influence, highlighting that global leadership can fade quickly.

Our "Leaders" have one skill: Breaking Things and Lying about it

cryptoeconomy • 1022 implied HN points • 17 Jun 23
🇺🇸 U.S. Politics Economic Policy
  1. Government leaders are not always honest, especially about economic issues like inflation and the state of the economy.
  2. Policymakers often lie to manipulate public perception and create a false sense of economic stability.
  3. To address dishonesty and mismanagement, consider removing central planners and government control in economic matters.

The Secret Story of Nordic Prosperity

Erik Examines • 582 implied HN points • 27 Jun 25
🇺🇸 U.S. Politics Economic Policy
  1. Nordic countries became prosperous through a mix of free-market capitalism and strong government involvement. They focused on creating policies that combined economic efficiency with social benefits.
  2. Socialism has played a significant role in the Nordic model, fostering cooperation among citizens and promoting corporate democracy, which allows workers to have a say in how companies are run.
  3. While Nordic countries are often seen as similar to the U.S., they have unique characteristics, like government control over key resources and industrial planning, that differentiate their economic success from purely capitalist systems.

Top Links 830 US mega caps. Semiconductor investment boom. Shock city. Stalin - warrior of the year.

Chartbook • 386 implied HN points • 15 Aug 25
💰 Finance Economic Policy
  1. The top 10 companies in the S&P 500 are really powerful, making up a huge part of the overall profits. It shows how important certain sectors like tech and finance are to the market.
  2. There's a big surge in investments in semiconductors, which are key for technology. This boom could have a major impact on the economy and innovation.
  3. Articles and discussions about major historical figures like Stalin highlight different perspectives on leadership and conflict. Understanding history helps us make sense of current events.

Top Links 817 GM eats Trump's tariffs. Traders rule. Who will buy, Indonesia's "Kangaroo" bond? And, “goods beyond earth”.

Chartbook • 429 implied HN points • 02 Aug 25
💰 Finance Economic Policy
  1. GM is adapting to tariffs set by Trump, showing how big companies adjust to government changes. It's interesting to see how this affects their business strategies.
  2. There's a lot of focus on big traders and who might invest in unique options like Indonesia's 'Kangaroo' bond, which highlights the variety of investment opportunities out there.
  3. The US stock market is heavily influenced by a small number of large tech companies, while local economic signs tell a different story, reminding us that not everything is as it seems.

Top Links 792 Ripping up books. Turkey's economy stumbling. How heritage is outrunning net zero in industrial Germany and cod evolved to avoid the nets.

Chartbook • 515 implied HN points • 07 Jul 25
🌍 World Politics Economic Policy
  1. There are significant issues with Turkey's economy, and it may be struggling right now. It's important to pay attention to how this could affect the country and its people.
  2. Germany is trying to balance its industrial heritage with new environmental goals. This shows how complex it can be to transition to greener practices while preserving tradition.
  3. Some fish, like cod, have adapted to avoid fishing nets. This highlights how species can change over time to survive in a changing world.

Top Links 808 Dollar reserves. Hundred model war. New risks of nuclear tripolarity.

Chartbook • 457 implied HN points • 23 Jul 25
🌍 World Politics Economic Policy
  1. The dollar's role as the main global currency has changed over the years, particularly from 2000 to the 2010s. There are a lot more dollar reserves now, which makes a big difference.
  2. There's a growing concern about nuclear powers and their relationships, especially as multiple countries develop their own nuclear strategies. This could lead to new risks that the world needs to be aware of.
  3. Understanding past and current economic trends is important for grasping how global finance works now. This can help us navigate future economic challenges.

Yes: This Is Worth Signing: Economists Who Are Neither Bought Nor Crazy Oppose Broad-Based Tariffs

Brad DeLong's Grasping Reality • 1137 implied HN points • 06 Feb 25
🇺🇸 U.S. Politics Economic Policy
  1. Broad-based tariffs are generally not a good idea because they can harm the economy. Instead of helping, they often lead to higher prices and lower productivity.
  2. Historically, tariffs have not stopped the decline of manufacturing jobs in the U.S., which is mainly due to increased productivity and changes in demand. The economy is doing well even with trade deficits.
  3. Foreign investment is important for the U.S. economy, and tariffs can actually hurt growth. Successful economies attract foreign capital, which has helped the U.S. prosper throughout its history.

China Capitulates

Diane Francis • 919 implied HN points • 21 Aug 23
🌍 World Politics Economic Policy
  1. China's economy is facing serious issues like high unemployment and a faltering currency, partly due to mistakes made by its government. It has realized that battling the U.S. economically is not a winning strategy.
  2. Historically, China has had a troubled relationship with Russia, and its current closeness to Moscow is hurting its ties with the West. To improve its situation, China is now working to distance itself from Russia and fix its foreign policy.
  3. China's leaders are trying to mend relations with the U.S. and other countries to strengthen their economy. This shift shows they understand the importance of cooperation instead of conflict.

The Financial Sector

In My Tribe • 425 implied HN points • 15 Jul 25
💰 Finance Economic Policy
  1. Usury, or charging interest, has been historically frowned upon, especially when lending to those in need. Nowadays, people often borrow for various reasons, making this taboo less relevant.
  2. Banks play a crucial role by offering services like checking accounts and loans, balancing risky long-term loans with immediate access to funds for customers. They use strategies like diversification and relationships to manage these risks.
  3. The relationship between banks and government is vital for stability. Trust in both can lead to a healthy economy, while a lack of confidence can cause financial crises, as seen in events like the 2008 financial crash.

Price controls cause chaos

Economic Forces • 18 implied HN points • 12 Feb 26
🇺🇸 U.S. Politics Economic Policy
  1. Capping prices removes the profit signal that normally redirects supply, so small cost differences can produce all-or-nothing shipments and sudden, unpredictable flips in who gets goods.
  2. The welfare damage from misallocating scarce goods is much larger than the textbook Harberger triangle; when goods go to the wrong places the total loss can be at least double and up to an order of magnitude larger.
  3. Price controls tend to provoke more intervention (like rationing or quotas) but those fixes are also fragile and compound chaos, producing queues, quality cuts, black markets, and unstable allocations.

🗽✨ Yes, more skilled immigration is good for America

Faster, Please! • 1279 implied HN points • 30 Dec 24
🇺🇸 U.S. Politics Economic Policy
  1. Skilled immigration is important for America's growth and economy. It helps bring talented people who can contribute to various sectors.
  2. There is a debate about immigration policies that should focus on the economic benefits of allowing skilled workers from different countries.
  3. Understanding the basics of economics is vital in discussions about immigration, as it helps people realize how it can positively impact society.

Market Volatility: Some Thoughts

Mule’s Musings • 102 implied HN points • 24 Nov 25
💰 Finance Economic Policy
  1. The market is experiencing a long-awaited correction, which means prices are adjusting after being too high for too long.
  2. This correction is influenced by more technical factors than people might think.
  3. Understanding these technical aspects can help investors make better decisions during times of market volatility.

What's Art Got to Do with It?

System Change • 491 implied HN points • 10 Jan 24
💰 Finance Economic Policy
  1. The art market is experiencing deflation as buyers prioritize debt repayment over new purchases.
  2. Debt deflation and low wages worldwide are driving the fall in prices of goods, services, and assets.
  3. China's economy, as the world's second largest, plays a significant role in global deflationary pressures and may require a drastic shift in economic policy to avoid a crash.

Would Lenin have approved of the IMF?

Global Inequality and More 3.0 • 1328 implied HN points • 16 Nov 24
💰 Finance Economic Policy
  1. The IMF has a specific role in ensuring countries maintain fiscal discipline and avoid excessive borrowing. This role is seen as necessary for economic stability, regardless of whether the system is capitalist or socialist.
  2. Critics often misunderstand the IMF's core mission, which is about discipline and accountability in fiscal matters. Austerity measures taken by the IMF are not inherently bad; they are meant to promote responsible economic behavior.
  3. If Lenin were alive today, he might actually support the IMF for its emphasis on fiscal responsibility and international trade management. He believed in the need for structured economic governance, similar to what the IMF provides.

Chartbook 328 An economics Nobel for Biden's neocon moment. On AJR's "Whig" philosophy of history.

Chartbook • 1473 implied HN points • 19 Oct 24
🇺🇸 U.S. Politics Economic Policy
  1. The recent Nobel Prize in economics was awarded to three economists who stressed the importance of societal institutions in achieving economic prosperity. Their work highlights how fairness and rights can drive economic growth.
  2. The Biden administration supports this view, aligning their economic strategies with the theories of these Nobel winners. They believe government policies can help bridge gaps like inequality and support innovation.
  3. The traditional ideas of free-market economics are becoming less popular, and the current trend leans towards more government intervention in the economy. This shift reflects a broader skepticism about past economic policies.

🏫 A DARPA for education

Faster, Please! • 1370 implied HN points • 13 Nov 24
🇺🇸 U.S. Politics Economic Policy
  1. The U.S. Department of Education may need significant changes, focusing more on innovation and effective solutions rather than just maintaining the status quo. A proposed model inspired by DARPA could help create practical educational tools and practices.
  2. Shifting key functions of the Department of Education, like student aid and education research, to other agencies could improve efficiency. This would allow states to have more control over their education systems and tailor solutions to their specific needs.
  3. Using advancements in technology, especially artificial intelligence, could revolutionize education. A dedicated research organization for education could lead to important developments that enhance learning and address gaps created by recent challenges, like the pandemic.

The Ethics of Business with Niklas Anziger

Bet On It • 35 implied HN points • 14 Jan 26
💼 Business Economic Policy
  1. Niklas Anziger discusses the ethics of business and how moral questions affect real-world commercial choices.
  2. The conversation emphasizes a pro-market, pro-business perspective, arguing that freer markets can lead to better outcomes.
  3. Prospera is used as a real-world example of experimenting with freer markets to illustrate how ethical business practices play out.

Politburo meeting, no announcement of Third Plenum; Li Shangfu missing from study session; Evergrande chairman under "control"; TikTok

Sinocism • 766 implied HN points • 28 Sep 23
🌍 World Politics Economic Policy
  1. The Politburo meeting did not announce the dates for the Third Plenum, raising speculation about possible delays or disagreements.
  2. During the Politburo Study Session on WTO reform, key officials were absent, indicating potential areas of concern.
  3. Evergrande's chairman being placed under police surveillance raises doubts about the company's ability to avoid liquidation, impacting other struggling real estate firms.