The hottest Economics Substack posts right now

And their main takeaways
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Quantitative Long-Run Global Economic History: Econ 196: Seminar: Special Topics in Economics (Spring 2026)

Brad DeLong's Grasping Reality • 123 implied HN points • 21 Jan 26
🚌 Education Economics
  1. The course is a quantitative, long-run tour of global economic history covering everything from early humans and the rise of agriculture to industrialization, globalization, and modern attention/info/biotech economies, with a focus on causes of growth, inequality, and institutions.
  2. The pedagogy stresses hands-on data-science methods—sampling, estimation, forecasting, simulation, and counterfactual modeling—designed to let both humanists and quants learn to model parts of the world economy without prior coding experience.
  3. There are firm expectations: mandatory pre-class readings and a short assignment answering five questions (including on using AI/LLMs), and prompt submission is required to shape the next class session.

Revisiting the Pyramid of Inequality that is Streaming Music

Dada Drummer Almanach • 173 implied HN points • 15 Jan 26
🎶 Music Economics
  1. Streaming payouts are massively concentrated, with a tiny share of tracks getting nearly all the money while most tracks earn nothing.
  2. Per-stream payments are extremely small — artists often receive only a fraction of a cent per play — so even millions of streams usually don’t produce a livable income.
  3. Systemic change is needed, like laws requiring platforms to pay musicians directly per stream, and that will take fans, music workers, and artists organizing and supporting reform.

OpenAI: Economic Justice Delayed

Dana Blankenhorn: Facing the Future • 39 implied HN points • 03 Oct 24
🕹 Technology Economics
  1. OpenAI recently received a large investment to avoid bankruptcy, but experts think financial troubles may still be on the way. There's skepticism about how sustainable their business model is.
  2. The promises of AI, like improving productivity and creativity, often don't match up with what users actually experience. Many believe AI tools still have major limitations.
  3. The funding from investors seems more focused on finding a quick profit than on genuinely improving AI technology. There's a worry that this could lead to a crash if expectations aren't met.

Economics Isn't "About" Anything

QTR’s Fringe Finance • 22 implied HN points • 03 Mar 26
📖 Philosophy Economics
  1. Economics isn't 'about' a single theme or object like a novel; it's a science that explains why people make choices by linking causes and effects.
  2. Economics provides neutral, causal explanations of choices and is distinct from ethics, law, or medicine, which judge whether choices are good, legal, or healthy.
  3. Understanding economics is vital for preserving civilization because it reveals how policies (like price controls) change incentives and outcomes, helping citizens avoid demagoguery and harmful decisions.
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Surge pricing is coming for your rent

Taylor Lorenz's Newsletter • 1642 implied HN points • 28 Jul 25
💼 Business Economics
  1. Surge pricing, which raises costs based on demand and other factors, is expanding to rent prices. This means you might start paying more for your home depending on market conditions.
  2. AI technology is being used to predict prices, leading to potential price increases for various products and services. This can impact everyday expenses and make budgeting more difficult.
  3. The trend of surveillance pricing suggests that companies are using personal data to set prices that consumers are willing to pay. This raises concerns about fairness and transparency in pricing.

New Capitalism II: Compositional vs income inequality

Global Inequality and More 3.0 • 1494 implied HN points • 26 Jul 25
🇺🇸 U.S. Politics Economics
  1. There are different ways to measure inequality, like compositional inequality, which looks at how people earn their money from labor versus capital. This shows us that income can be unequal even if the sources of income are similar for everyone.
  2. The elite class in a capitalist society often makes money from both high wages and investment, and they strongly support capitalist ideas. This creates a different dynamic than what we see in the broader workforce.
  3. Countries with lower inequality usually have less compositional inequality too. This suggests that income distribution and the sources of that income are connected in ways we need to better understand.

“Nvidia could soon take a serious hit, too”

Marcus on AI • 4228 implied HN points • 27 Jan 25
🕹 Technology Economics
  1. Nvidia's stock might be facing a big drop, which is a concern for investors. A decline over 10% indicates that something is going on in the market.
  2. The market can behave in unpredictable ways, and this uncertainty can be tough for investors to manage. Today might be a key moment in the stock market.
  3. Overall, the economics of generative AI can lead to unexpected changes, making it a wild area to watch for investors and tech enthusiasts.

The curious case of Qingdao, China's land value tax

Progress and Poverty • 1539 implied HN points • 31 Jul 25
💼 Business Economics
  1. Qingdao implemented a land value tax that focused on the unimproved value of land, which helped reduce speculation and boost development. This tax system meant that instead of taxing income or trade, the main focus was on land, aiming for a fairer economy.
  2. Despite its successes, Qingdao's regime had significant flaws, including no real democracy and the extraction of natural resources for foreign benefit instead of local empowerment. This shows that good economic policies must also consider fairness and local benefit.
  3. The case of Qingdao teaches us that even a straightforward land value tax can lead to economic growth and success, as long as assessments are frequent and transparent. It highlights the importance of making land accessible and fairly taxed to prevent speculation.

Blockade: The Science and Ethics of Trade

Bet On It • 206 implied HN points • 01 Jan 26
💥 Comics Economics
  1. A new non-fiction graphic novel about the science and ethics of trade is planned for Fall 2027.
  2. The project pairs prominent free-trade experts with a cartoonist and is being produced as part of a Cato Institute-backed series, with the team assembling quickly.
  3. The book will cover issues like trade deficits, protectionism, strategic trade, and the history and ethics of commerce, and the creators are asking for topic and imagery suggestions.

Top Links 928 NEET. Greening Poland. Epstein and the Washington Consensus. "The form of life is only the present".

Chartbook • 414 implied HN points • 21 Nov 25
🇺🇸 U.S. Politics Economics
  1. More young people are becoming NEET, which means they're not working or studying, creating concerns about their future and the economy.
  2. Poland is making efforts towards greener practices, indicating a shift in how countries approach environmental issues.
  3. The discussions around Epstein and the Washington Consensus highlight important conversations on ethics and economic policies in today's world.

So I See I Am Quoted in the "New York Times"...

Brad DeLong's Grasping Reality • 376 implied HN points • 25 Nov 25
🎭️ Culture Economics
  1. A prominent economist argued in the 2010s that with very low interest rates governments should spend to put people to work, and that ideas like secular stagnation and functional finance are relevant again; following those ideas could have improved economic outcomes.
  2. Fast, deep thinking and active engagement from a single trusted expert can strengthen public debate and left-of-center policy arguments, and losing such a voice would make collective reasoning weaker.
  3. Personal misconduct is serious and can rightly harm a reputation, but people have varied failure modes and friends have a role in holding them accountable while helping them become better contributors.

Top Links 920 Dangerous positioning. Financial repression in the 21st century. Ornette Coleman and Jacques Derrida in conversation.

Chartbook • 443 implied HN points • 13 Nov 25
💰 Finance Economics
  1. Dangerous positioning in finance can lead to risky outcomes, so it's important to be cautious. Many people might think they are diversified, but it can be misleading.
  2. Financial repression is a key trend in the 21st century, affecting how economies grow and interact. It can limit investment freedom and impact savings.
  3. Conversations about art and philosophy, like the one between Ornette Coleman and Jacques Derrida, can help us understand cultural influences and connections. Ideas in art often reflect deeper thoughts in society.

⤴️ Singularity 1.0: The birth of modernity

Faster, Please! • 365 implied HN points • 04 Dec 25
💼 Business Economics
  1. A strong commitment to progress can kickstart significant economic changes even before major events, like the Industrial Revolution. It's about believing in improvement over time.
  2. The advancement of artificial intelligence could lead to big increases in productivity and economic growth in the future. People are curious about when this might happen.
  3. We should focus on being optimistic about growth and abundance, as embracing new technologies can lead to better lives for everyone. Positive change is possible and exciting!

4 Truths About OpenAI’s Wild Financial Position

Big Technology • 5504 implied HN points • 18 Oct 24
💼 Business Economics
  1. OpenAI plans to change how it looks at training costs, suggesting these might not be fixed over time. This could impact their profits, as training expenses are significant.
  2. OpenAI believes that ChatGPT will generate more revenue than its API, showing confidence in its widespread use. They expect more people will want to interact with AI in the future, which could be risky if the growth doesn’t happen as hoped.
  3. OpenAI is already making big payments to Microsoft, which is one reason they expect to lose a lot of money this year. If their losses continue at this rate, they will need to raise more money soon.

Will AI Cause Massive Deflation?

cryptoeconomy • 1493 implied HN points • 02 Feb 24
💰 Finance Economics
  1. There will not be durable deflation in the future unless major changes happen to the dollar or the Federal Reserve.
  2. Technology like AI can lead to deflation by lowering prices, but central banks like the Federal Reserve counteract this by absorbing the deflation.
  3. A special type of bad deflation occurs when dollars are taken out of circulation, often due to events like financial panics, leading to economic challenges.

Top Links 926 America's polarized prosperity. Germany's industry in the doldrums. China's military power struggles & Auden on the dialectic.

Chartbook • 386 implied HN points • 19 Nov 25
🇺🇸 U.S. Politics Economics
  1. America's social divide is growing, with a stronger focus on different classes. People are feeling less united in their lifestyles and interests.
  2. Germany's industry is facing tough challenges, indicating a decline in its economic power. This may affect its global competitiveness.
  3. China is experiencing internal struggles related to its military power. This uncertainty could impact its role on the world stage.

Sadiq Khan’s Techno Feudalism

The Free Mind • 1375 implied HN points • 10 Feb 24
🌍 World Politics Economics
  1. Sadiq Khan's plans reflect a clear long-term vision, gradually changing private car ownership and lifestyle expectations.
  2. Cities like London are aiming for radical changes by 2030 to combat global warming, pushing for zero meat, dairy, and limited clothing consumption.
  3. The concept of 'radical incrementalism' involves small changes leading to significant impacts in shifting public behavior, like the introduction of pay-per-mile road charging.

The Bounty Board Rewards Update Is Coming

The Lunacian • 92 implied HN points • 01 Feb 26
🔮 Crypto Economics
  1. Leaderboard rewards will nearly triple to 15,000 AXS and the leaderboard expands from the top 1,000 to the top 3,000 players. That means many more players can earn fixed leaderboard prizes.
  2. The general reward pool is reduced to 7,000 AXS and will be distributed proportionally among the top 3,000 players based on earned points. This makes consistent play directly increase your share of those rewards.
  3. Total AXS distributed stays the same at 27,000, but the update shifts AXS from the general pool into leaderboard payouts to better reward consistent, competitive contributors. The change is a rebalance, not an increase, and it sharpens incentives for steady participation.

The Race to the Top in Six Charts and Not Too Many Numbers

Renewable Revolution • 279 implied HN points • 02 Jul 24
🌞 Climate & Environment Economics
  1. China is currently the leader in clean technology innovation and manufacturing, having significantly increased its battery and solar production capacity. It also holds a majority share in global clean energy patents.
  2. All three main regions—China, Europe, and the U.S.—are rapidly deploying clean technologies like solar, wind, and electric vehicles, but China is ahead in terms of growth and scale.
  3. The U.S. and Europe are recognizing the need to catch up in this energy race, with investments in clean technologies expected to grow significantly in the coming years, indicating a shift towards competition.

⚡ Tracking a 200-year energy wager

Faster, Please! • 274 implied HN points • 15 Dec 25
🌞 Climate & Environment Economics
  1. Herman Kahn’s long bet is that cheap, effectively limitless energy would unlock widespread human abundance and economic growth.
  2. The technological tools to pursue cheap, inexhaustible energy have largely arrived or are within reach.
  3. Politics and institutions haven’t caught up, and political obstacles remain the main barrier to realizing that energy-driven abundance.

Micro versus Macro thinking and affordability

Erdmann Housing Tracker • 273 implied HN points • 14 Dec 25
🇺🇸 U.S. Politics Economics
  1. Micro thinking focuses on surviving day-to-day and treats high housing costs as an inevitable local problem, while macro thinking asks why systems and policies produce those costs and where levers for change might be.
  2. A long run of shocks plus legal and capacity constraints—like zoning, mortgage rules, and post-2008 supply limits—have kept housing supply too low and pushed prices up, making it more expensive for people to "trade down" and worsening affordability.
  3. The affordability squeeze affects everyone but hurts lower-income families worst, so middle-class strains are a warning sign that zoning and mortgage suppression deserve serious policy scrutiny and collective solutions.

The FA Cup: Economic Snapshot of Football's Oldest Final

Original Football • 479 implied HN points • 24 May 24
🎾 Sports Economics
  1. The FA Cup is a significant financial powerhouse in football with around 90,000 fans attending and 500 million global viewers, showcasing tradition and economic impact.
  2. Television rights play a major revenue role for the FA Cup, with broadcasting deals like ESPN's extension in the US through 2028, a substantial source of income.
  3. Sponsorship is key for the FA Cup's financial success, as brands like Emirates have multi-million dollar deals, supporting various football initiatives and programs.

Why Colbert got canceled

Silver Bulletin • 1289 implied HN points • 21 Jul 25
🇺🇸 U.S. Politics Economics
  1. Colbert's show got canceled for a mix of reasons, like budget issues and changing audience tastes. Some believe politics played a part, while others think it was simply not making enough money.
  2. The late-night comedy scene has struggled since the rise of Trump and has been affected by the decline of mass culture. Shows like Colbert's face pressure to adapt to different viewer expectations.
  3. Overall, late-night hosts are dealing with tough competition and the challenge of navigating a politically sensitive landscape. Their ability to resonate with audiences is critical for survival.

The MMT Eras Tour (Part 1)

The Lens • 1375 implied HN points • 29 Jan 24
💼 Business Economics
  1. MMT framework was born from a comment by Warren Mosler in 1996.
  2. The MMT Lens was adopted by many in academic circles.
  3. 28 years of MMT have focused on getting the big economic ideas right.

‘Everything Is Gone’

Common Sense with Bari Weiss • 3542 implied HN points • 11 Jan 25
📰 News Economics
  1. The recent fires in Los Angeles have caused massive destruction, burning more than 36,000 acres and destroying nearly 10,000 structures. That's a huge area, larger than the city of Miami.
  2. Over 100,000 people have been evacuated due to these fires, which have resulted in around 11 confirmed deaths so far. However, many are still unaccounted for, raising concerns for their safety.
  3. Even after losing everything, the people affected by the fires are holding on to hope. They share their stories and experiences, showing resilience despite the devastating circumstances.

Matt Yglesias Has a Pretty Good Piece on Larry Summers

Brad DeLong's Grasping Reality • 307 implied HN points • 25 Nov 25
🇺🇸 U.S. Politics Economics
  1. On many policy fights he was more right than wrong, offering sound economic reasoning on trade, drug pricing, pollution, university reform, and stimulus policy even when those positions provoked controversy.
  2. The claim that men simply show greater variability is unsettled; observed sex differences look more complex and likely reflect a mix of biological, behavioral, and social factors rather than a single bell-curve explanation.
  3. Personal misconduct—romantic entanglement and scheming with someone tied to sex crimes—is indefensible and badly damaged his reputation, and even correct reforms can fail if pursued clumsily or provocatively.

The Shallowness of Garett Jones’ Immigration Research

Heterodox STEM • 298 implied HN points • 30 Nov 25
🔬 Science Economics
  1. A major critique is that some immigration research adds little original empirical or theoretical insight and omits important peer‑reviewed studies that directly bear on its claims.
  2. The common measure of "generalized social trust" used to link trust and economic growth is argued to be flawed — problems include questionable survey validity, weak prediction of real trusting behavior, sample bias, omitted variables, and a lack of incorporation into formal growth models; when addressed, the purported trust–growth relationship can vanish.
  3. Scholarly disputes are criticized for relying on vague accusations, deleted public comments, and a failure to make specific, formal challenges to peers or journal editors, highlighting a need for clearer, evidence‑based engagement.

The Two-Parent Privilege is Real

The Liberal Patriot • 1238 implied HN points • 02 Feb 24
🇺🇸 U.S. Politics Economics
  1. Economic inequality has worsened since the 1980s impacting many working Americans.
  2. The decline in two-parent households among lower-income families has led to increased inequality and social mobility issues.
  3. Improving economic prospects for less-educated men could positively impact childhood outcomes and overall development standards.

Housing Starts Increased to 1.404 million Annual Rate in December

CalculatedRisk Newsletter • 33 implied HN points • 18 Feb 26
💼 Business Economics
  1. Housing starts rose in December to a 1,404,000 seasonally adjusted annual rate, up 6.2% from November but 7.3% below December 2024.
  2. Building permits climbed to a 1,448,000 SAAR in December, improving month-to-month but still modestly below a year earlier; single-family activity was weaker while multi-family starts increased.
  3. For all of 2025, total starts were down 0.6% versus 2024, with single-family starts falling about 6.9% and multi-family rising roughly 18%, and housing units under construction remain elevated.

The Battle Between The Inner Life and The Outer Life

Sparks from Culture by David Roberts • 1179 implied HN points • 03 Feb 24
🎭️ Culture Economics
  1. Modern American capitalism has constrained many lives, leading to angst and a pursuit of more slow-paced lives.
  2. E.M. Forster's 'Howards End' explores the conflict between inner and outer ways of life, highlighting the impact of capitalism on personal relations and daily duties.
  3. There is resistance to hyper-capitalism in modern America, with a growing push for a slower life, nature, and emphasis on inner values.

Record Highs

A Havenstein Moment. • 1297 implied HN points • 20 Jan 24
💼 Business Economics
  1. Speculation and bubbles in the market can be harmful
  2. The capital development of a country should not depend on casino-like activities
  3. Consider subscribing to A Havenstein Moment for more insights

Book review: "Power and Progress"

Noahpinion • 8706 implied HN points • 21 Feb 24
📚 Literature Economics
  1. The impact of technological innovation on human welfare depends on how society chooses to use these innovations, highlighting the importance of social decisions.
  2. The book discusses how power dynamics in society influence the choices made regarding technology, with recent decisions leaning towards negative impacts.
  3. Society can shape technology to distribute benefits more widely by focusing on inventions that complement workers instead of replacing them, presenting a controversial but essential concept.

Premier League Money: The Economics of Winning, Relegation and Promotion

Original Football • 459 implied HN points • 14 May 24
🎾 Sports Economics
  1. Winning the Premier League not only brings glory but also substantial financial rewards through broadcasting revenue and merit payments.
  2. Relegation from the Premier League can have severe financial consequences for clubs, leading to reduced revenue and parachute payments to soften the impact.
  3. Clubs in the Championship strive for promotion to the Premier League due to the financial windfall it brings, especially through the lucrative Championship Playoff Final.

The Acceleration

DARK FUTURA • 2299 implied HN points • 26 May 23
🇺🇸 U.S. Politics Economics
  1. Cultural events feel like they're accelerating due to echo-chambers and changing norms.
  2. Companies like Target are facing backlash for controversial moves, leading to financial losses.
  3. The acceleration in societal changes is influenced by elite detachment from shared reality and outrage-baiting tactics.

The Rich Get Richer and the Deplorables Pay for the Bailout

Peter Navarro's Taking Back Trump's America • 2299 implied HN points • 14 Mar 23
🇺🇸 U.S. Politics Economics
  1. Rich hedge fund managers and venture capitalists are profiting while the Deplorables in MAGA Land suffer economically.
  2. Biden's regime is bailing out the US banking sector, burdening the Deplorables with trillions in debt and fueling inflation.
  3. Biden's policies, such as canceling pipelines and excessive government spending, are contributing to cost-push and demand-pull inflation, creating stagflationary forces.

All That Is Solid Melts into Code

Daniel Pinchbeck’s Newsletter • 29 implied HN points • 14 Feb 26
🕹 Technology Economics
  1. AI has reached an inflection point where models can rapidly automate broad white‑collar cognitive tasks. This is already eroding entry‑level jobs and changing roles like software engineers into architects and debuggers.
  2. If human labor becomes optional, the economy could see extreme wealth concentration and mass unemployment unless we redesign how abundance and income are shared. Without policy changes, the link between work and survival may break for many people.
  3. Powerful self‑improving AI brings huge opportunities—faster creativity and the collapse of old knowledge hierarchies—but also serious risks like cyberattacks or engineered harms, so urgent governance and planning are needed.