The hottest Economics Substack posts right now

And their main takeaways
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Chinese V. Premier He Lifeng's message for foreign investors

Beijing Channel • 3 implied HN points • 10 Dec 24
💼 Business Economics
  1. China is actively inviting foreign investors by promoting reforms and a clearer business environment. They're saying that it's a good time for businesses to cooperate and invest in China.
  2. Vice Premier He Lifeng has been meeting regularly with international business leaders. This shows that China is really focusing on its economic growth and wants to strengthen ties with foreign companies.
  3. China aims to ease market access and further open its financial sector to attract more foreign businesses. They believe this will help improve their economy and create more opportunities for everyone.

Celebrating 1,000 subscribers

Creative Destruction • 13 implied HN points • 12 Apr 23
🎭️ Culture Economics
  1. The newsletter reached a milestone of 1,000 subscribers and the author is grateful for the support.
  2. The author shared their top 5 posts on various topics like pleasure, finding groove, convenience, economy, and self-actualization.
  3. Despite a busy week, the author promises to return with more content soon.

Together by a tether

Joshua Gans' Newsletter • 19 implied HN points • 05 Aug 20
🏥 Health & Wellness Economics
  1. New research indicates that implementing better employment policies and creating staff bubbles in nursing homes can reduce Covid-19 outbreaks by 44%.
  2. Covid-19 spreads through contacts in nursing homes, amplified by staff moving between facilities; increasing network connections increases Covid cases significantly.
  3. Creating staff bubbles in nursing homes to eliminate inter-facility connections can potentially reduce infections by 44 per cent.

Driving a Hard Bargain

Some Unpleasant Arithmetic • 7 implied HN points • 06 Feb 24
💼 Business Economics
  1. Haggling can lead to better outcomes for both parties in transactions.
  2. People haggle not only to save money but also for a sense of accomplishment or entertainment.
  3. Haggling can serve as a form of price discrimination based on willingness to negotiate, benefiting both consumers and sellers.
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The Ultimate Finance Chick

Malt Liquidity • 10 implied HN points • 19 Aug 23
💰 Finance Economics
  1. The most successful finance people are well-rounded and highly knowledgeable.
  2. Taylor Swift is a master at leveraging her business moves for success in the music industry.
  3. Art and business intersect in the world of finance and music, showcasing the power of creativity and commerce.

The Fixed Window Fallacy

Economic Forces • 9 implied HN points • 12 Oct 23
💰 Finance Economics
  1. The Fixed Window Fallacy is a concept that highlights flawed reasoning when considering impacts on business and economy
  2. Technological advancement and efficient supply mechanisms are crucial for sustained economic growth
  3. Innovation and advancements, like new drugs, may shift demand but can ultimately lead to more value creation and productivity

[P] SPHR: Sphere-Priced Incentives

Nongaap Investing • 2 implied HN points • 23 Feb 25
💰 Finance Economics
  1. Sphere-Priced Incentives are a new way to evaluate investments. They help in making decisions based on a specific pricing strategy.
  2. Understanding the risks can help in deciding whether to invest or not. We often find ourselves in tough situations when choosing these options.
  3. Paid subscriptions provide deeper insights into investing strategies. It's a good idea for those serious about improving their investment knowledge.

It’s a good thing to have several suppliers

Klement on Investing • 1 implied HN point • 26 Jun 25
💰 Finance Economics
  1. Having many suppliers is important for businesses. It helps keep prices lower because they can compare options more easily.
  2. If companies rely on just one supplier, they might save money at first but face risks later, especially if there are problems like tariffs.
  3. Countries with diverse supply chains can handle trade issues better. For instance, if the US and EU have a trade dispute, the EU might face less inflation due to their varied suppliers.

Waterfall Chart

Visualization For Science • 13 implied HN points • 26 Feb 23
💰 Finance Economics
  1. Waterfall charts are floating column diagrams that emphasize increases and decreases of a quantity.
  2. Gross Domestic Product is a common measure of the economic health, representing the value of goods and services produced and sold.
  3. Complex metrics like GDP are composed of many individual components, each making its contribution.

Smart people cooperate

Klement on Investing • 3 implied HN points • 08 Nov 24
💼 Business Economics
  1. Smarter people tend to learn and adjust their behavior more quickly when playing strategic games, which often leads to better outcomes for them.
  2. High IQ individuals are more likely to cooperate with others they perceive to be intelligent, benefiting both parties in the long run.
  3. Cooperation is generally more effective than competition in most situations, as working together often leads to better results for everyone involved.

Deglobalisation: Diversification rather than decoupling

Klement on Investing • 2 implied HN points • 11 Feb 25
💼 Business Economics
  1. Businesses are diversifying their supply chains instead of completely decoupling from certain countries. This means they are sourcing from multiple countries to reduce reliance on any single one.
  2. The evidence shows that while some decoupling is evident (like with Russia and the UK), many ties with countries like China are actually increasing.
  3. Overall, it's more about managing risks in supply chains rather than a full reversal of globalization. Companies are investing in new areas like Southeast Asia instead of just relying on past hubs like China or Russia.

Rabbit Holes 🕳️ #34

Creative Destruction • 11 implied HN points • 24 May 23
🎭️ Culture Economics
  1. Do the weirdest thing that feels right to detach from societal norms and make decisions that are truest to you.
  2. Think of organizations as jazz bands rather than classical orchestras to embrace agility, improvisation, and leadership rotation.
  3. Consider a future with eudaimonic jobs where people work 4 days, emphasizing self-actualization and community service.

Love your freeloaders and superfans

A Bit Gamey • 6 implied HN points • 03 Mar 24
💼 Business Economics
  1. Appreciate and nurture both casual fans (freeloaders) and dedicated supporters (superfans)
  2. Offer products at various price points to cater to different consumer preferences and increase revenue potential
  3. Providing free content is not a guaranteed path to wealth; creators need to creatively convert attention and reputation into income

Thoughts on Edmund Phelps and Mass Flourishing

The Permanent Problem • 6 implied HN points • 20 Feb 24
🚌 Education Economics
  1. Edmund Phelps coined the term 'mass flourishing' to describe the benefits of capitalism bringing nonmaterial rewards through grassroots innovation and job satisfaction.
  2. Phelps and the author both agree on judging social systems by opportunities for fulfilling lives, but differ in their visions of human flourishing, values, and solutions for enhancing mass flourishing.
  3. Phelps emphasizes the importance of innovation for flourishing, while the author argues for a broader definition that includes projects, experiences, and relationships, and suggests a future where work-life balance is achieved through economic independence.

Clouded Judgement 6.2.23

Clouded Judgement • 10 implied HN points • 02 Jun 23
💼 Business Economics
  1. Companies saw a decrease in net new ARR in Q1 compared to previous quarters.
  2. Different companies are affected by macroeconomic factors differently.
  3. Market interest is focused on whether forward estimates are increasing or decreasing.

A Country Is Not a Company

Some Unpleasant Arithmetic • 9 implied HN points • 30 Jun 23
💼 Business Economics
  1. Understanding how markets function is crucial for businesses to operate efficiently.
  2. Companies exist to simplify complex decision-making and to manage relationships between owners and workers.
  3. The dynamics of a country's economy are vastly different from those of a single company due to the scale, complexity, and interdependence of various factors.

Trump tariff reprieve could create more risk in Treasury market

Klement on Investing • 1 implied HN point • 29 May 25
💰 Finance Economics
  1. A recent court ruling said Trump overstepped his authority with tariffs. This decision might not help the Treasury market as much as people think.
  2. The news of the tariff reprieve comes with increased risk for investors. They need to be cautious moving forward.
  3. Overall, this situation shows how political decisions can impact financial markets. Keeping an eye on these changes is important for investors.

Corporate site visits are a win-win

Klement on Investing • 1 implied HN point • 28 May 25
💼 Business Economics
  1. Corporate site visits help investors understand how a company works and improve trust. They can lead to more accurate forecasts and stable share prices.
  2. Aligning the company's information with investor concerns during these visits is really important. If the answers match the questions, it makes the visit more effective.
  3. Investors should take the chance to attend site visits. Even if the company can't share all the details, learning about the people and processes can help them make better investment decisions.

From oil price speculation to higher inflation?

Klement on Investing • 6 implied HN points • 09 Jan 24
💰 Finance Economics
  1. Speculators in commodity futures markets may increase price volatility but do not have a significant long-term impact on price levels.
  2. Rise in oil prices in 2021 and after the Russian invasion of Ukraine in February 2022 was a key driver of inflation spike in 2022 and 2023.
  3. Study suggests that oil price spike was partially due to excessive speculation by oil traders, which in turn contributed to an increase in US inflation.

The UK’s failed Annual Investment Allowance

Klement on Investing • 2 implied HN points • 07 Jan 25
💼 Business Economics
  1. The Annual Investment Allowance (AIA) was created to encourage UK businesses to invest in equipment to boost productivity. However, it ended up incentivizing investments in outdated technology instead.
  2. While businesses did increase spending on IT hardware and software due to the AIA, they significantly reduced their investment in modern cloud-based services. This shift has left UK companies behind in adopting the latest technology.
  3. As long as the AIA excludes newer IT options like big data and AI, UK businesses may continue to fall short in improving productivity and competitiveness on a global scale.

Sandwich Economics - The BigTech you never knew

Platforms, AI, and the Economics of BigTech • 2 implied HN points • 12 Jan 25
💼 Business Economics
  1. The idea of 'Sandwich Economics' suggests that companies can create powerful economic frameworks instead of just focusing on products. This can change how industries compete and operate.
  2. Reliance Jio shows that understanding and shaping the economic structure is key. By doing so, they made it hard for other companies to compete unless they fit into this new framework.
  3. Big Tech companies often don't just introduce products but create entire systems that dictate how businesses within the industry function. It's about positioning yourself within this framework to succeed.

And the Oscar for Economics Goes To... (1/2)

Some Unpleasant Arithmetic • 5 implied HN points • 02 Mar 24
🔬 Science Economics
  1. Economics can impact everyday life - like how male-dominated spaces affect women's performance and how integrated teams lead to more success in research
  2. Ethnic violence like lynchings can have significant economic impacts, reducing total factor productivity and output, as shown by historical data
  3. Research shows that changes in policies like legalized same-sex marriage can influence career choices, as seen in the declining enrollment of new priests following these laws

Life In Plastic Ain't So Fantastic

Some Unpleasant Arithmetic • 8 implied HN points • 20 Jul 23
🎭️ Culture Economics
  1. Barbie's history and impact reflect complex issues of feminism and economics
  2. Women's labor force participation has evolved over time due to various factors like economic conditions and cultural norms
  3. Gender disparities in wages and career progress are influenced by a mix of discrimination, societal expectations, and individual choices

What is Price Theory?

Economic Forces • 7 implied HN points • 05 Oct 23
🚌 Education Economics
  1. Price theory focuses on analyzing how real world agents arrive at agreeable prices through a process of exchange.
  2. Price theory emphasizes that competition is omnipresent and considers how firms strategically respond to rivals in a competitive context.
  3. Prices coordinate economic behavior across markets, carry important information, and contribute to resolving the coordination problem through mechanisms beyond price changes.

Yield Me Tender

Malt Liquidity • 10 implied HN points • 09 Mar 23
💰 Finance Economics
  1. Lenders must balance generating yield and preserving liquidity.
  2. Deposit distribution challenges can lead to losses on notes.
  3. Middleman services like food delivery face profitability challenges.

Every time someone says “Please think of the children”, fertility sinks by a millimeter

Wood From Eden • 5 HN points • 26 Feb 24
🎭️ Culture Economics
  1. Fertility declines when people emphasize 'Please think of the children', impacting how many children are born.
  2. The focus on raising children is splitting into two camps: Economy, redirecting money to parents, and Culture, where having children is seen as part of a meaningful life.
  3. Increasing the financial support for parents may not be effective in addressing declining birth rates - cultural beliefs and societal costs may be more impactful.

[P] EVLV: Scanning for Upside

Nongaap Investing • 2 implied HN points • 10 Dec 24
💰 Finance Economics
  1. A new CEO is joining the company and there's hope for a positive change in the future.
  2. The company has faced difficulties, but there might be opportunities for growth ahead.
  3. Investors are being encouraged to keep an eye on potential upsides as changes take place.

Tayonomics

Some Unpleasant Arithmetic • 8 implied HN points • 07 Jun 23
🎭️ Culture Economics
  1. Taylor Swift's monopoly on her brand and the limited competition in her music genre lead to high ticket prices for her concerts.
  2. Ticketmaster's dominance in the ticketing market allows for high prices, low quantities, and lower quality of service.
  3. Price discrimination, differences in supply and demand dynamics, and economic productivity explain varying ticket prices between US and Latin American Taylor Swift concerts.

Is a 40% tariff a good idea?

Economic Forces • 5 implied HN points • 01 Feb 24
🇺🇸 U.S. Politics Economics
  1. Tariffs on foreign producers are ultimately paid by domestic consumers and companies.
  2. The Econ 101 trade model can provide insights on tariffs, but real-world applications are more complex.
  3. Applying economic theory involves balancing simplicity and complexity to understand the modern economy.

The Case Against Corporate Stock Buybacks

Fish Food for Thought • 7 implied HN points • 09 Aug 23
💼 Business Economics
  1. Companies use excess cash for stock buybacks when they lack better investment opportunities within the company.
  2. Stock-based compensation dilutes shares held by investors, impacting the company's stock value.
  3. Excessive stock buybacks show a belief that there are limited internal investment prospects, potentially thwarting company growth.

Why Armen Alchian is the GOAT 🐐

Economic Forces • 6 implied HN points • 26 Oct 23
💼 Business Economics
  1. Armen Alchian brought original and important ideas in economics like focusing on property rights, incentives, and information.
  2. Alchian excelled at both economic theory and empirical work, showing expertise in using data and bridging theory with measurement.
  3. Despite being known for microeconomics, Alchian made significant contributions to macroeconomics, especially in areas like transaction costs and macro unemployment.

Are you paid what you're worth?

Economic Forces • 5 implied HN points • 18 Jan 24
💼 Business Economics
  1. Everyone thinks they're underpaid and overpay for things.
  2. Louis Makowski and Joseph Ostroy developed tools to evaluate value and marginal product.
  3. In competitive markets, profits match marginal product contributions, leading to efficiency.

Freaks of Nature

Some Unpleasant Arithmetic • 8 implied HN points • 03 May 23
🚌 Education Economics
  1. Freakonomics and SuperFreakonomics explore economic behavior in various aspects of life through vignettes.
  2. The books present controversial theories and findings, such as the impact of abortion legalization on crime rates and climate change cost-benefit analysis.
  3. Critics argue that while the books offer a unique perspective, they may lack rigor in answering complex economic questions.

The most sophisticated test of ESG fund performance, yet

Klement on Investing • 2 implied HN points • 18 Nov 24
💰 Finance Economics
  1. Studies show that ESG funds and conventional funds have similar returns, typically around 0.2% to 0.3% difference per year. This means investing in ESG doesn't significantly affect your returns.
  2. Critics argue ESG funds often perform slightly worse than traditional ones, which raises questions about the returns of sustainable investing.
  3. Overall, recent research found no significant difference in performance between ESG and conventional funds, which may disappoint both supporters and opponents of ESG investing.

And the 2023 Economics Nobel Goes to...

Economic Forces • 6 implied HN points • 09 Oct 23
💼 Business Economics
  1. Claudia Goldin won the 2023 Economics Nobel Prize for her work on women's labor market outcomes
  2. Goldin's research focused on supply and demand as a consistent lens to understand changing female labor market outcomes
  3. Goldin's work highlights the importance of historical context and technological changes in shaping women's career choices

New Start @ www.tailrisk.com

The Refractor • 7 implied HN points • 21 Jul 23
🕹 Technology Economics
  1. There is a popular consensus that the good economic times in the U.S. ended about 50 years ago.
  2. Progress is like velocity measured over time, and innovation speed is crucial for technological advancement.
  3. Tail risk explores low probability, high impact events across various fields to prevent catastrophic consequences.