The hottest Economics Substack posts right now

And their main takeaways
Category
Top Business Topics

Housing and 'a global wall of money'

System Change • 687 implied HN points • 06 Jun 23
💼 Business Economics
  1. The housing crisis in Britain is not just about supply and demand, but also about a global wall of money inflating housing values.
  2. Speculation in the property market is fueling high house prices, not a shortage of supply.
  3. To make housing more affordable, measures like property speculation tax and managing speculative capital flows are needed.

Top Links 754 Exxon's long plateau. Banana economics. Modal magic & the General of Physics.

Chartbook • 457 implied HN points • 30 May 25
💰 Finance Economics
  1. ExxonMobil is not rapidly expanding its fossil fuel production. This suggests a more stable or declining phase for the company rather than aggressive growth.
  2. The content focuses on varied topics like economics and physics, indicating a diverse range of interests and insights.
  3. The support of subscribers is essential for maintaining the platform, highlighting the importance of community in content creation.

Moats: How to Build a Scalable Business Competitors Can't Copy

Nail It and Scale It • 59 implied HN points • 08 Jul 24
💼 Business Economics
  1. A business moat is a special advantage that helps a company stand out and protect itself from competitors. Just like a moat around a castle keeps invaders out, a strong business moat helps companies earn big profits over time.
  2. There are different types of moats, like network effects where the value increases as more people use a service, and cost advantages that make switching harder for customers. Companies like Uber and Walmart have used these techniques smartly.
  3. Building a solid brand and having strong cultural values can also create powerful moats. For example, Patagonia builds loyalty by promoting environmentalism, making it harder for customers to switch to other brands.

Manchester United Finances Q1 2023/24

The Swiss Ramble • 373 implied HN points • 22 Jan 24
💰 Finance Economics
  1. Manchester United announced financial results for Q1 2023/24, showing a pre-tax loss but increased revenue and profit on player sales.
  2. Revenue streams for Manchester United increased, particularly in match day, broadcasting, and commercial aspects.
  3. United's profit from player sales rose from £17m to £29m, attributed to the departure of certain players.

A Lens to Understand the Trump Tariffs

Contemplations on the Tree of Woe • 769 implied HN points • 14 Feb 25
💰 Finance Economics
  1. Not all tariffs are bad; they can help boost domestic manufacturing and protect jobs. The U.S. has lost many manufacturing jobs to overseas markets, which affects both the economy and national security.
  2. Often, tariff threats are used as negotiation tools rather than actual intentions to impose tariffs. For example, Trump used the threat of tariffs to gain cooperation from other countries on unrelated issues.
  3. The bigger issue is that many countries, including China, put up barriers to U.S. products while expecting open access to American markets. Addressing these trade imbalances can be crucial for fair international trade.
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no. 74: double starching

let them eat cake • 678 implied HN points • 31 Aug 23
🍲 Food & Drink Economics
  1. Cooking remains a mostly opaque activity to cooks, and even though there are scientific explanations, many cultural practices still rely on mystical ideas like 'nafas' and 'sonmat.'
  2. The value of cooking and the labor involved is often underappreciated and not clearly priced, leading to conflicting claims about its worth in different contexts.
  3. Food and cooking challenge traditional economic frameworks, as the true cost is not accurately captured due to the unpaid labor that goes into preparing meals.

The Greatest Crypto Heist You Never Heard of

DeFi Education • 739 implied HN points • 06 Sep 23
🔮 Crypto Economics
  1. Ruja Ignatova is the mastermind behind the OneCoin scam, which defrauded investors out of over $4 billion. She has been on the run from authorities since 2017 and was added to the FBI's most wanted list.
  2. The OneCoin scheme was not a real cryptocurrency and was designed to deceive thousands of investors. Ignatova and her co-conspirators manipulated the value of OneCoin and profited from the scam.
  3. Despite numerous arrests of her partners in crime, Ignatova remains elusive, and her whereabouts are still unknown. Investigators believe she might still be alive and living off the money she stole.

Huawei Founder on US v China and Basic Research

ChinaTalk • 415 implied HN points • 11 Jun 25
🕹 Technology Economics
  1. Basic research is crucial for long-term success. Without it, countries can't make significant advancements and keep up with other leading nations.
  2. There are many challenges in the tech industry, but rather than focusing on the negative, it's important to keep moving forward and adapt. China is making progress through collaboration among its numerous chip companies.
  3. Support for theoretical scientists and researchers is essential. Their work, though often misunderstood and slow to show results, is key to the future development and innovation of the country.

Where is the Moat in AI?

In My Tribe • 258 implied HN points • 11 Aug 25
💼 Business Economics
  1. Intangible assets, like brand loyalty and know-how, can create lasting profits that are harder to compete against than physical resources like data centers.
  2. With AI, some jobs, especially mid-level roles in fields like finance and law, may decline in value as companies adopt technology to cut costs.
  3. Successful companies will be those that maintain strong relationships and moats now, as they navigate competition with AI model developers.

❄️ 🎧 Le retour de Napster. Kering > LVMH ?

Snowball • 668 implied HN points • 19 Feb 23
💼 Business Economics
  1. Kering, a leader in the luxury world, seems like a better investment opportunity than LVMH at the moment.
  2. Politicians often aim to secure re-election by buying votes and creating financial benefits through political power.
  3. Napster revolutionized the music industry in the late 90s and is aiming to do so again with web3 technology.

Sorry, Elon: Henry Ford Started a Colony First

Life Since the Baby Boom • 1152 implied HN points • 10 Nov 24
💾 History Economics
  1. Henry Ford tried to create a city called Fordlandia in the Amazon rainforest to produce rubber. He faced many challenges because the environment was very different from what he knew.
  2. The project suffered from poor living conditions, high worker turnover, and management problems, leading to riots and disease among workers. It was hard to get people to stay and work.
  3. Ultimately, the project failed to produce rubber as intended and Ford lost a lot of money. It shows how difficult it is to impose a new way of life in an unfamiliar place.

RTF Lecture Invitation: Guanzi- Introduction to 3000 Years of Chinese Economic Thought (Feb 4 at 2pm ET)

Through A Glass Darkly • 334 implied HN points • 03 Feb 24
🎭️ Culture Economics
  1. The Rising Tide Foundation lectures aim to showcase Chinese cultural dynamics and economic history to address misconceptions and lies about China and Russia.
  2. They emphasize the importance of gaining true insight into different cultures to develop critical thinking skills and combat misinformation.
  3. The upcoming lecture on '3000 Years of Chinese Economic Thought' will explore the origin and meaning of economics from a traditionally Chinese point of view.

🔃 How bad policy can offset the AI boom

Faster, Please! • 91 implied HN points • 25 Nov 25
🇺🇸 U.S. Politics Economics
  1. AI is advancing quickly in the U.S., but trade restrictions could slow its growth. It's important to keep trade open for technology to thrive.
  2. Bad policies can negatively affect the benefits that AI could bring to the economy. Making smart choices is key to reaping those rewards.
  3. Balancing AI growth with thoughtful regulations is crucial. We need to support innovation while addressing risks.

Economic Lessons from the Screwtape Letters

Kyla’s Newsletter • 451 implied HN points • 21 May 25
💼 Business Economics
  1. Rejection is becoming a part of everyday life, especially for young people. They face so many job and college applications but get very few chances.
  2. Convenience in our lives is making us feel less connected and more anxious. Things are so easy now that we don’t put in the effort to really enjoy or appreciate them.
  3. Surprise is disappearing in our culture, with new creative ideas being replaced by recycled ones. This loss makes our experiences less rich and fulfilling.

Top Links 756 Tariff-sensitive inflation is on its way. The crisis in the diamond business. The Sound of Music and Caught by the Tides.

Chartbook • 429 implied HN points • 01 Jun 25
💰 Finance Economics
  1. Tariff-sensitive inflation is expected to rise soon. This means that prices on certain goods may go up because of changes in tariffs.
  2. The diamond industry is facing a crisis. This could impact the availability and pricing of diamonds in the market.
  3. There are interesting discussions around cultural topics like 'The Sound of Music' and environmental issues like 'Caught by the Tides'. These may provide insights into how culture and nature intersect.

E(X)>0: An Open Letter to Elon

Bet On It • 925 implied HN points • 31 Dec 24
🇺🇸 U.S. Politics Economics
  1. It's important to welcome people who can contribute positively, not just those who are obviously exceptional. This means considering everyone who has something to offer, even if they're not the top experts.
  2. Investment and hiring should be seen as opportunities with positive expected value, not just focused on certainty of success. This idea helps to foster growth and innovation in both companies and society.
  3. A good immigration policy should allow more people in, as long as they can contribute positively, like how the UAE has seen success by welcoming a range of skill levels instead of just the elite.

The Unthinkable Becomes Inevitable

Anima Mundi • 82 implied HN points • 22 Nov 25
🌞 Climate & Environment Economics
  1. Economic systems can change quickly and unexpectedly. Slavery, once seen as essential, became morally wrong in a short time due to various factors like economic shifts and the resistance of enslaved people.
  2. Today's society faces a similar situation with climate change and inequality. Current systems are proving unsustainable, but many individuals and countries are hesitant to change because it might mean losing out in a competitive world.
  3. Younger generations are more open to alternative economic models because they haven't built their lives around the current unsustainable practices. If we act now to create and share new ways of living, we might be able to make positive changes before time runs out.

Silver Lining in the Black Clouds?

Daniel Pinchbeck’s Newsletter • 32 implied HN points • 09 Jan 26
🎭️ Culture Economics
  1. Political and institutional breakdown has exposed deep corruption and failing systems. That danger could also create an opening to rebuild society if authoritarian collapse is averted.
  2. A systemic redesign is needed that replaces extractive capitalism with stewardship and shared commons, using tools like universal basic income, demurrage-style currencies, community-based living, and decentralized direct democracy. Technology should be guided by biomimicry and used to coordinate ecological restoration rather than surveillance.
  3. Lasting change requires an inner shift in values and consciousness by repurposing media to produce pro-social subjectivity and by cultivating practices (including responsible psychedelics and spiritual disciplines) that foster empathy and a sense of global, cooperative belonging.

Chelsea Finances 2021/22

The Swiss Ramble • 648 implied HN points • 12 Apr 23
💰 Finance Economics
  1. Chelsea's 2021/22 season saw highs and lows, including finishing 3rd in the Premier League and winning UEFA Super Cup and FIFA Club World Cup.
  2. New ownership led by Todd Boehly saw a record £481m revenue for Chelsea, with a reduced pre-tax loss of £122m.
  3. Revenue increase was boosted by fans returning to the stadium, resulting in higher match day and commercial revenues, although broadcasting revenue fell due to specific reasons.

You Are Fired

Sector 6 | The Newsletter of AIM • 419 implied HN points • 28 Dec 23
💼 Business Economics
  1. Many companies are laying off employees because of automation technology, especially AI. This can cause a lot of job insecurity for workers.
  2. Paytm recently laid off nearly 1000 employees to shift towards becoming a complete AI company. This shows how businesses are changing to incorporate new tech.
  3. This trend of job cuts due to AI is expected to continue into 2024. Workers need to be aware of these changes in the job market.

Ticker Take: a weekly newsletter on investing.

Jon’s Newsletter • 119 implied HN points • 19 May 24
💰 Finance Economics
  1. Investing in utilities could be a smart move as demand for power grows due to the rise of AI and data centers.
  2. The stock market has shown strong recent performance, with predictions of further gains this year based on solid earnings and market momentum.
  3. There's a noticeable trend in retail investors participating in meme stocks, indicating a lasting shift in how a generation approaches investing in the stock market.

The Physiocratic Platform: Tariffs

Contemplations on the Tree of Woe • 1153 implied HN points • 19 Oct 24
🇺🇸 U.S. Politics Economics
  1. Tariffs can help raise money for government services, especially for defense and border security. By applying a uniform tariff on imported goods, it aims to make the tax system fairer for everyone involved.
  2. Historically, high tariffs were essential for the growth of the U.S. economy and protecting local industries. Examples from the past show that many countries successfully used tariffs to develop their manufacturing sectors.
  3. While tariffs might increase the cost of living, they can also boost domestic production and potentially lead to higher wages. The idea is that by protecting local jobs, the overall economy can become stronger.

An Argument For Tariffs

Points And Figures • 746 implied HN points • 17 Feb 25
🇺🇸 U.S. Politics Economics
  1. Tariffs can hurt consumers because they end up paying higher prices. Even if some believe they help local businesses, they can actually make those businesses less competitive.
  2. In some cases, tariffs might be necessary to protect industries that are important for national security, like drone technology. This can help the country stay strong in a competitive world.
  3. Big companies can create advantages that make it hard for others to compete. If countries like China dominate certain industries, tariffs may be needed to keep a fair playing field.

Blaming Capitalists and Workers for Inflation

cryptoeconomy • 628 implied HN points • 29 Jul 23
🇺🇸 U.S. Politics Economics
  1. Central bankers are blaming capitalists and workers for inflation to divert attention from their own actions.
  2. Corporate profits and worker wages are being scapegoated for causing inflation, but in reality, they are a result of economic uncertainty and money printing.
  3. The evolution from 'greedflation' to 'wageflation' is explained by the Cantillon effect, where trillions of dollars trickle down from government to workers, resulting in lost real wages and potential future economic challenges.

Things I wish the left got about economics

Philosophy bear • 801 implied HN points • 29 Jan 25
🇺🇸 U.S. Politics Economics
  1. The left should focus on offering positive solutions to economic problems, rather than just criticizing the existing system. Proposals need to be practical and beneficial in real life.
  2. Understanding key economic concepts, like public goods and externalities, is crucial. This knowledge helps in crafting effective policies and regulations.
  3. It's important to recognize that regulations aren't free solutions and need thoughtful design and expertise. A well-organized government can make these regulations work better for society.

⏩🎇 Awaiting the AI acceleration: A Quick Q&A with … researchers Anson Ho and Andrei Potlogea

Faster, Please! • 274 implied HN points • 07 Aug 25
🕹 Technology Economics
  1. Many believe we are not investing enough in AI because there's a lot of uncertainty about its benefits. People are unsure how AI will impact jobs and the economy.
  2. Investors are cautious about putting money into AI because they don't know how to profit from it or if regulations might get in the way. This fear makes them hesitant to make big investments.
  3. Some economists underestimate AI's potential by comparing it to past technologies. They think AI won't bring as much change, but it could actually affect more areas and grow faster than we expect.

Capitalism that works

Japan Optimist • 314 implied HN points • 03 Feb 24
💼 Business Economics
  1. Japan is considered a potential economic superpower and role model
  2. Japan's social resilience, political stability, corporate competitiveness, technocratic pragmatism, and private sector innovation are seen as strengths
  3. Japan's demographic destiny is viewed as a positive force for next-generation leaders, citizens, and the rising Asian middle class

Ticker Take: a weekly newsletter on investing.

Jon’s Newsletter • 19 implied HN points • 18 Aug 24
💰 Finance Economics
  1. Stocks linked to housing and utilities might do well as interest rates drop. Investors are looking at companies like Lennar and Home Depot.
  2. Warren Buffett's Berkshire Hathaway has recently bought shares in Ulta Beauty and Heico Corp, while also reducing its stake in Apple.
  3. Mars is buying Kellanova, which could change the snack food market by creating a stronger competitor to companies like Pepsi and Hershey.

Some recommended links

In My Tribe • 303 implied HN points • 10 Jul 25
🇺🇸 U.S. Politics Economics
  1. The economy has many goods and services we can measure, but online activities often lack clear measurements like quantities or prices.
  2. Having a steady job can help support creative pursuits, balancing the need for financial stability with one's passion.
  3. Technology, especially in trucking, can drastically reduce costs and reshape how goods are transported, but it may also lead to job losses in the sector.

Quadrilemma

Ironsides Macroeconomics 'It's Never Different This Time' • 373 implied HN points • 06 Jan 24
💰 Finance Economics
  1. The market outlook suggests it's time to increase exposure to cyclical sectors.
  2. Understanding the market implied policy path, earnings expectations, and the Fed's reaction function is crucial for making strategic investment decisions.
  3. A healthy broadening out in the market may require certain economic conditions to be met, like unemployment rates and average hourly earnings.

Beware of Econ Grad School

In My Tribe • 956 implied HN points • 29 Nov 24
🚌 Education Economics
  1. Econ grad school might not be the best choice if you're just curious about ideas. It's better to explore other careers that can satisfy that curiosity, like business.
  2. Many econ programs focus on teaching specific skills rather than encouraging discussions and new ideas. This can stifle your interest and creativity.
  3. You can learn a lot about economics on your own. Understanding basic concepts and real-world business behavior can be more valuable than fancy math techniques from grad school.

AI and GDP: The Caplan-Karnofsky Bet

In My Tribe • 273 implied HN points • 22 Jul 25
💼 Business Economics
  1. Bryan Caplan's bet on GDP and AI is unique because it involves a lot of uncertainty. Usually, he picks safer bets, but AI is unpredictable.
  2. The time frame of 20 years is significant; advancements might happen faster due to modern communication. This may lead to AI being adopted more quickly than expected.
  3. If the GDP drops significantly, it might be due to factors like war or disasters, rather than AI. And for GDP to rise dramatically, we need breakthroughs in education, healthcare, or robotics.

More housing supply shouldn't bring prices down.

Erdmann Housing Tracker • 273 implied HN points • 01 Aug 25
🇺🇸 U.S. Politics Economics
  1. Adding more homes doesn't always mean lower prices. Sometimes prices stay steady or even go up despite new construction.
  2. In cities where housing supply is slow to change, rents can increase even when there are more homes being built. This may look confusing but reflects local demand and growth rates.
  3. To really lower rent costs, cities need a lot more new homes. It could take over a million extra units each year to stop rent from rising.

Chartbook 330: Africa & absolute poverty in an era of polycrisis.

Chartbook • 1072 implied HN points • 27 Oct 24
🇺🇸 U.S. Politics Economics
  1. Absolute poverty remains a huge issue, especially in Africa, where many people live on very little daily. Despite some progress in reducing poverty in the past, the fight has stalled recently due to several overlapping crises.
  2. Sub-Saharan Africa faces significant challenges, with extreme poverty still on the rise, while other regions like Asia have seen a decline. Many poorer countries have not improved economically, which is concerning.
  3. Stability is crucial for reducing poverty. Countries free from conflict and instability tend to see better economic growth, while those suffering from political issues struggle to escape poverty.