The hottest Economics Substack posts right now

And their main takeaways
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Top Business Topics

Defending Open Source AI Against the Monopolist, the Jingoist, the Doomer and the Idiot

Future History • 200 implied HN points • 19 Feb 25
🕹 Technology Economics
  1. Open source software, like Linux, is crucial for innovation and economic growth. If it were starting today, too many restrictions could hurt its potential.
  2. Different groups, like monopolists and jingoists, try to control technology by spreading fear or misinformation. This can lead to laws that stifle competition and creativity.
  3. It's important to support open source AI to encourage fairness and competition. When more people can innovate, technology can improve everyone's lives.

CPI 3.1%

Points And Figures • 666 implied HN points • 13 Feb 24
💰 Finance Economics
  1. Inflation might be higher than reported due to isolated evidence like price increases in certain sectors.
  2. The government's policies are putting strong inflationary pressure on the economy, impacting various sectors and housing market.
  3. Business news sources may have biases and push narratives, so it's important to seek objective insights for informed decisions.

IPOs are underpriced

Something to Consider • 19 implied HN points • 25 Jun 24
💰 Finance Economics
  1. IPOs, or initial public offerings, often sell for less than their true value. This means companies miss out on money they could have earned.
  2. There are better ways to sell shares, like auctions, that could help get a fairer price. Selling all shares at once is not ideal.
  3. Releasing shares gradually could lead to better pricing and less underpricing. This way, companies wouldn’t leave money on the table when they go public.

deregulating barn raising fixes this

bad cattitude • 226 implied HN points • 14 Jan 25
🇺🇸 U.S. Politics Economics
  1. Government help often doesn't work well during disasters. People usually find it more helpful to rely on local efforts and free markets instead.
  2. Price controls and regulations can hurt recovery by limiting supply and making it harder to rebuild. Higher prices actually signal that more help is needed.
  3. Bureaucratic rules can create more problems than they solve, slowing down aid and making recovery from disasters much harder for communities.

immigration, immigrants, and the american way of life

bad cattitude • 241 implied HN points • 28 Dec 24
🇺🇸 U.S. Politics Economics
  1. Human capital is really important for a country's success. We need to create an environment where people's talents can grow and be used effectively.
  2. Immigration and cultural assimilation matter for maintaining a society's values. Newcomers should embrace the American way of life to keep the social fabric strong.
  3. Many Americans feel frustrated with how immigration policies and systems are set up. A fair approach that focuses on merit and recognizes everyone's contributions is needed.
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The Social Costs Of Inflation

QTR’s Fringe Finance • 27 implied HN points • 13 Nov 25
💰 Finance Economics
  1. Inflation affects family life in negative ways. It makes everything more expensive and changes how people make decisions about marriage and having kids.
  2. Working-class families suffer the most from inflation. They find it harder to keep up with rising costs, which makes it tough for them to form and maintain stable families.
  3. A return to sound money could help solve these problems. Fixing the financial system can improve family stability and rebuild society's foundations.

Hayek, republican freedom, and the minimum income

Hypertext • 139 implied HN points • 15 Nov 23
🇺🇸 U.S. Politics Economics
  1. Milton Friedman supported unconditional cash transfers as a solution to poverty in a market economy.
  2. Hayek's republican freedom theory emphasized the importance of free markets and limited government as well as the need for a minimum income to safeguard individual freedom.
  3. Although Hayek did not endorse a Universal Basic Income (UBI), his principles offer a strong argument for a social safety net in the form of unconditional cash transfers.

The Billionaire Tax Trick Fueling Record-High Sports Valuations

Huddle Up • 71 implied HN points • 06 Aug 25
🎾 Sports Economics
  1. WNBA team valuations increased significantly, even though the league lost money last season. This shows the market interest in women's sports is growing.
  2. Powerful team owners took action to protect their investments after policies impacted sports valuations negatively. Their influence helps shape the financial landscape of sports teams.
  3. Tax laws and political decisions can have a big effect on how much sports teams are worth. Changes in these laws can lead to record-high valuations.

CFPB Proposes Rule To Close TILA Overdraft "Loophole"

Fintech Business Weekly • 661 implied HN points • 21 Jan 24
💰 Finance Economics
  1. CFPB proposed a rule to close the TILA overdraft loophole, aiming to protect consumers from billions in junk fees.
  2. The proposed rule would require large banks to treat overdrafts like credit products, disclosing APRs and considering actual costs.
  3. Exempting banks under $10 billion in assets from the rule has sparked debate, highlighting the complexity of regulating banking fees.

Economists and Price/Rent Ratios

Erdmann Housing Tracker • 189 implied HN points • 26 Feb 25
💰 Finance Economics
  1. Most economists think that price/rent ratios should stay the same over time. But actually, changes in rents are what mostly drive these ratios.
  2. A big reason the housing market is often misunderstood is because economists don’t factor in how much access to mortgages has changed since 2008.
  3. Rents have been rising faster than other costs, which affects home prices. This key point is often overlooked, meaning many people are missing out on important trading opportunities.

Retiring Retirement

Workforce Futurist by Andy Spence • 293 implied HN points • 06 Nov 24
💼 Business Economics
  1. The old idea of retiring at a fixed age is outdated as people are living longer and healthier lives. Instead of stopping work completely, we might consider blending work and leisure throughout our lives.
  2. It's important to take charge of our financial futures by saving separately and planning for our expenses when we stop traditional work. Building financial independence can help us make choices based on what we truly want.
  3. Finding work that is fulfilling and matches our values can make us not want to retire in the traditional sense. The goal is to create a life where work feels meaningful instead of just a job to escape from.

Governing the Commons

Knowledge Problem • 137 implied HN points • 15 Nov 23
🚌 Education Economics
  1. Understanding the importance of property rights in economic exchange and market function
  2. Exploring Elinor Ostrom's work on managing shared resources through governance frameworks
  3. Recognizing the value of polycentric governance for addressing collective action problems in complex systems

Top Links 552 Nasty bonds on underwater office buildings. Indian top earners in Germany. Avian flu & U.S. military food insecurity.

Chartbook • 286 implied HN points • 05 Nov 24
💰 Finance Economics
  1. There are problematic bonds tied to office buildings that may not hold value. This means investors could face significant losses.
  2. There are many Indian professionals earning high salaries in Germany. This indicates a strong presence of Indian talent in the German job market.
  3. Avian flu is affecting food security for U.S. military personnel. This raises concerns about the availability of safe food for those in service.

Economics and Business Links, 1/15

In My Tribe • 212 implied HN points • 15 Jan 25
💰 Finance Economics
  1. Fannie Mae and Freddie Mac have had complicated financial dealings with the Treasury. Their situation raises questions about privatization and how the accounting around their debts is handled.
  2. Eugene Fama argues that bubbles in market prices are hard to prove, suggesting that price swings are unpredictable and don't meet the classic idea of a bubble.
  3. Experts like Bill McBride believe there's concern about a housing bubble due to rising house prices, but he notes that lending standards are better now than during previous bubbles.

What the East African Plains Ape Anthology Intelligence Has Managed to Do, with Respect to the Economy

Brad DeLong's Grasping Reality • 253 implied HN points • 07 Dec 24
💼 Business Economics
  1. Human society has evolved from slow, agricultural growth to rapid industrial progress, but we still struggle with managing this change effectively.
  2. The historical shift from cooperation to domination in societies has created challenges in creating systems that benefit everyone today.
  3. We have the potential for great prosperity, but we need better institutions to help us use our resources wisely and live well.

Uber’s AWS era

Alex's Personal Blog • 98 implied HN points • 23 Jun 25
💼 Business Economics
  1. Uber is now making a lot of money and has expanded into selling AI tools, similar to how Amazon did with its cloud services.
  2. In the NYC mayoral race, Zohran Mamdani is leading against Andrew Cuomo, but there are concerns about Mamdani's economic ideas and tax plans.
  3. The growth of coding tools like Cursor shows there's a big demand for help in software development, and they may encourage more people to learn coding.

Overhead Costs vs. Marginal Costs

In My Tribe • 227 implied HN points • 28 Dec 24
💼 Business Economics
  1. Overhead costs are the ongoing expenses of running a business, while marginal costs are the expenses incurred by producing one additional unit.
  2. Many businesses today focus more on overhead costs because it's hard to measure the contribution of individuals in a team setting.
  3. Understanding these costs is important for making better decisions about managing a business.

Links to Consider, 11/10/2024

In My Tribe • 273 implied HN points • 10 Nov 24
🇺🇸 U.S. Politics Economics
  1. The connection between the government and society has grown stronger over the last 30 years, changing how power is used and its effects on freedom.
  2. There is a growing concern that the people in charge of local businesses no longer represent the interests of their communities, leading to a disconnect in local governance.
  3. Technology may challenge our ability to grasp complex issues, which makes the idea of limited government even more important to protect individual freedoms.

NFTs and the Future of Subscription Businesses

DeFi Education • 459 implied HN points • 09 Dec 22
💼 Business Economics
  1. Businesses like subscriptions because they provide steady income and build customer loyalty. This makes business planning easier.
  2. NFTs can change how subscriptions work by offering unique ownership and access. This could make subscriptions more attractive to consumers.
  3. Traditional views on NFTs and subscriptions might be missing the bigger picture. There are new opportunities to explore that could benefit both businesses and customers.

The ASOMOCO Top 10 (2024 Edition)

Altered States of Monetary Consciousness • 226 implied HN points • 31 Dec 24
💼 Business Economics
  1. Corporations use simplified interfaces to interact with people, making it easier for us to deal with their complex structures. This can give them a more relatable personality, changing how we perceive them.
  2. Billionaires are often seen as uniquely gifted individuals, but this view overlooks the collaborative efforts of many people that contribute to their success. It's important to understand the collective work behind big achievements.
  3. Surveillance is becoming normalized as companies find new, clever ways to collect our data. They often spin this as a fun experience, making people look forward to sharing their information.

Top Links 545 “Restructuring” Bangladeshi banks. Hurricane Helen’s impact on unemployment. High-speed trading & a fracking good time.

Chartbook • 286 implied HN points • 29 Oct 24
💰 Finance Economics
  1. Bangladeshi banks are going through a big restructuring. This could change the way they operate and help improve their services.
  2. Hurricane Helene had a significant effect on unemployment rates. Many people lost their jobs because of the hurricane's impact.
  3. High-speed trading continues to play a lively role in the financial markets. It’s a fast-paced area that creates both opportunities and challenges.

Circle’s valuation is getting nutty

Alex's Personal Blog • 98 implied HN points • 20 Jun 25
💼 Business Economics
  1. Circle's stock price is rising sharply, far surpassing its initial IPO price. This shows strong market interest in tech and crypto-related companies.
  2. Tesla plans to start its robotaxi service cautiously with ten cars in a limited area. This careful approach might help ensure safety and a smoother rollout.
  3. Cloudflare is working on a solution to stop AI companies from scraping content from websites without fair compensation. This could change how AI interacts with online content.

Microsoft’s big stick era

Alex's Personal Blog • 98 implied HN points • 19 Jun 25
🕹 Technology Economics
  1. Microsoft is laying off thousands of employees while still making big profits. This both reflects their strong financial health and raises questions about the future of jobs in tech.
  2. AI tools are expected to make workers more productive, but some companies foresee needing fewer employees in the long run. This could lead to job losses in various sectors, causing concerns about the future job market.
  3. The Federal Reserve is cautious about cutting interest rates, balancing the need for economic growth and rising inflation concerns. They are watching the economy closely before making any changes.

Platform Economics- Why Meta made a Profit and Uber did not [Finance Fridays]

Technology Made Simple • 159 implied HN points • 22 Jul 23
💰 Finance Economics
  1. Platform economics often prioritize scale over short-term profitability, relying on network effects to eventually generate revenue.
  2. Successful platforms like Facebook and YouTube maintained a competitive edge through extensive user profiles and built-in loyalty, unlike Uber.
  3. Uber's failure was attributed to factors like the ease of replicating its service, lack of customer loyalty, and the unrealistic expectations for profitability in the on-demand service industry.

Open Borders and Adverse Selection?

Bet On It • 231 implied HN points • 24 Dec 24
🇺🇸 U.S. Politics Economics
  1. Opening borders can lead to both positive and negative selection. While allowing more people in can benefit society, it can also attract individuals who might not contribute positively.
  2. It's important to vet immigrants to avoid potential negative impacts, like crime or community issues. Simply accepting everyone without checks can create problems in the long run.
  3. Using examples like the influx of Ukrainian refugees shows that context matters. Not all immigration situations are the same, and having clear reasons for migration can soften concerns about negative selection.

Infographics: U.S. Repo Market Mechanics

Concoda • 237 implied HN points • 10 Dec 24
💰 Finance Economics
  1. The U.S. repo market is a place where banks and financial institutions borrow and lend money, often overnight.
  2. Understanding how the repo market works is important because it affects interest rates and overall market stability.
  3. Visual infographics can help simplify complex topics like the repo market, making it easier for everyone to understand.

The Population Bomb

Diane Francis • 439 implied HN points • 17 Nov 22
🌍 World Politics Economics
  1. The world's population hit 8 billion, largely due to longer life expectancies and better health care. This brings both business opportunities and environmental challenges.
  2. Population growth is expected to slow down significantly in the coming decades, influenced by factors like women's education and lower fertility rates. Many countries are facing issues related to aging populations and shrinking workforces.
  3. Countries like Japan and Germany show that a declining population can still lead to economic success, especially when they invest in automation and embrace environmental sustainability.

10x and cheaper in an AI world

Sarah Tavel's Newsletter • 157 implied HN points • 22 Feb 23
💼 Business Economics
  1. Creating a 10x better product should also focus on making it cheaper for consumers.
  2. A technology catalyst like AI can help recast cost structures and create new experiences.
  3. AI advancements could lead to deflationary pressures on various industries, paving the way for innovative startups.

'ZIRP' No More: A Founder Playbook for the Market Downturn

Condensing the Cloud • 157 implied HN points • 01 May 23
💼 Business Economics
  1. Nap pods and extravagant perks in tech companies are becoming less common due to market downturn.
  2. Private-company leaders are advised to focus on building great products and growing efficiently, especially during a potential recession.
  3. Software companies have the potential to thrive by reducing cash burn, optimizing operations, and focusing on efficient growth strategies.

Noise!

Lewis Enterprises • 157 implied HN points • 30 Apr 23
💰 Finance Economics
  1. Economics is better appreciated as a history of thought rather than an explanatory science.
  2. Fischer Black simplified complex financial models to focus on crucial elements.
  3. The concept of 'noise' in the financial markets affects our ability to predict returns and understand economic variables.

Math Problems

The Better Letter • 157 implied HN points • 17 Mar 23
🔬 Science Economics
  1. Unlikely events happen more often than we realize, influencing outcomes in sports, investments, and life.
  2. Probability plays a significant role in determining outcomes, such as in coin tosses, NCAA brackets, and market predictions.
  3. Randomness, noise, and unpredictability are intrinsic to life, affecting decision-making and the way we perceive events.

Top Links 595 Will there be a Trump bounce? OPEC has prices wrong & Why the US needs Diego Garcia

Chartbook • 228 implied HN points • 22 Dec 24
🇺🇸 U.S. Politics Economics
  1. The idea of a 'Trump bounce' suggests people's feelings might improve following certain news, but it doesn't always lead to more loans being requested. It's important to connect feelings to real actions like spending and borrowing.
  2. OPEC's predictions about oil prices may not be accurate, which could impact global economies more than we realize. It's crucial to pay attention to how oil price changes affect us all.
  3. The U.S. has strategic needs for places like Diego Garcia. Having military bases in such locations is important for national security and global influence.

Will there be a Trump bounce? OPEC has prices wrong & Why the US needs Diego Garcia

Chartbook • 228 implied HN points • 22 Dec 24
🇺🇸 U.S. Politics Economics
  1. The idea of a 'Trump bounce' in the economy might not lead to an increase in loan demand like it did before. It's important to pay attention to financial trends and how sentiment affects the market.
  2. OPEC's pricing strategies could be misaligned with the current market conditions, which may impact global oil prices and economies that rely on them.
  3. The US strategic interest in Diego Garcia highlights the importance of military and geopolitical positioning in global affairs, especially regarding security and trade.

Democratic Socialist Plans Will Only Make NYC Worse

QTR’s Fringe Finance • 28 implied HN points • 04 Nov 25
🇺🇸 U.S. Politics Economics
  1. Democratic socialism changes the private market with government rules and controls, which can create problems instead of solving them. This can lead to higher costs and fewer choices for people.
  2. Rent controls and subsidies for housing often backfire, making it harder to build new homes and worsening housing shortages. Fixing problems usually leads to more government rules that complicate things.
  3. Programs like free childcare or raising the minimum wage sound good, but they can lead to higher taxes and fewer jobs. When the government steps in too much, it can hurt the very people it aims to help.

Lessons from Cybersyn

Magis • 227 implied HN points • 23 Dec 24
💼 Business Economics
  1. Starting a data company can be really challenging because it takes a lot of time and money to create useful products. It’s hard to find customers who are ready to pay for insights quickly.
  2. Big companies have valuable data but making deals can be tough. You often have to convince them to sell data at a good price while also showing them the benefits of monetizing it.
  3. The shift in the market towards valuing profits over growth made it harder to raise funds for data startups. Sometimes, it might be smarter to shut down a project to save capital instead of pushing forward with uncertain outcomes.