The hottest Political Economy Substack posts right now

And their main takeaways
Category
Top U.S. Politics Topics

🍼 Confronting global population collapse: A Quick Q&A with … demographer Nick Eberstadt

Faster, Please! • 731 implied HN points • 14 Jan 25
🇺🇸 U.S. Politics Political Economy
  1. Global population is set to decline for the first time in history, mainly because people are choosing to have fewer children. This shift poses big challenges for governments worldwide.
  2. Unlike past population declines, like during the Black Death, today's situation is driven by personal choices rather than disease. We now face a situation of fewer births happening across different cultures and societies.
  3. The reasons for lower birth rates are complex. It's not just about wealth, as many poorer countries are also experiencing declining birth rates. People's desires for children play a crucial role in understanding these trends.

Economic Methodology

David Friedman’s Substack • 242 implied HN points • 01 Aug 25
💼 Business Political Economy
  1. Economic models don't need to be realistic; what's important is whether they can make accurate predictions about the future. A good model will simplify complex truths while still capturing what really matters.
  2. Being a true economist means being willing to change your views based on evidence, not just sticking to ideology. If someone’s beliefs don’t change even when faced with solid economic arguments, they might just be an economist during work hours.
  3. History shows that both Keynes and Friedman had valuable insights, even if their ideas contradict each other. Each has built on the work of the other, which is how economics progresses, just like in any science.

How to Make A Fortune on Regime Change!

The Corbett Report • 19 implied HN points • 17 Jan 26
🌍 World Politics Political Economy
  1. Prediction markets let people bet real money on geopolitical events and can sometimes pay out large sums to those who predict correctly.
  2. These markets create strong incentives for insider trading, misinformation, and even for powerful actors to manipulate events to profit.
  3. Because of the moral, legal, and security risks — especially with high-profile backers involved — lawmakers and regulators are moving to restrict or oversee these platforms.

Top Links 639 Buybacks over investment in the US military-industrial complex. The Indian economy shifts gear. RAND on burden-sharing & Britain's wars of decolonization.

Chartbook • 557 implied HN points • 04 Feb 25
🇺🇸 U.S. Politics Political Economy
  1. There's a discussion about how companies are focusing more on buybacks instead of investing in important areas like the military complex. It raises questions about the priorities of businesses.
  2. The Indian economy appears to be making significant progress. This could indicate shifts in global economic dynamics and growth in emerging markets.
  3. A report from RAND explores how countries share defense responsibilities, particularly relating to Britain's historical wars. This could provide insights into current international relations and military commitments.

Subsidies, Sanctions, & SpaceX: Musk’s Gambit in the Post-Truth Political Economic Environment of Modern Republicanism

Brad DeLong's Grasping Reality • 276 implied HN points • 05 Jun 25
🇺🇸 U.S. Politics Political Economy
  1. Elon Musk may face financial troubles in the future due to his unexpected fallout with Trump. He thought business deals could be made based on loyalty, but that's not how Trump operates.
  2. Musk is trying to show Trump that he has power, which may help him secure subsidies and support for his businesses, Tesla and SpaceX. It's uncertain how effective this strategy will be.
  3. There’s a lot of unpredictability in the political and business landscape, especially with figures like Musk and Trump leading the charge. It's like watching a high-stakes game unfold.
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Chartbook 331: 46 in medias res - A mosaic of the Biden administration.

Chartbook • 743 implied HN points • 05 Nov 24
🇺🇸 U.S. Politics Political Economy
  1. The Biden administration's time in office is seen as limited, with many questioning its place in history and legacy. It seems to be moving towards a significant change after one term.
  2. The administration faced various challenges, including obstacles to its policies, which highlighted the need for balance in its approach to both domestic and foreign issues.
  3. As tensions with China increase and significant decisions around issues like climate and economic policy continue, the Biden presidency is grappling with its role in a changing global landscape.

Chartbook 339 Uneven and combined development of what? How do we relate global dollars and global cocoa?

Chartbook • 600 implied HN points • 18 Dec 24
💼 Business Political Economy
  1. Global dollars and cocoa are connected within the system of capitalism, but they operate under very different political economies. Money is managed through global financial institutions, while cocoa production involves many poor farmers and large corporations.
  2. The relationship between cocoa and global dollars can be explored through the idea of 'sectors' in the economy, like the agro-industrial sector for cocoa and the financial sector for dollars. Each sector functions under its own rules and crises.
  3. Understanding how these sectors combine and differ helps to illustrate the complex dynamics of global capitalism. It’s important to consider how different sectors impact each other and society as a whole.

Does the Federal Reserve Deserve Deference as a Bank Regulator? Kevin Warsh Says "No"

Brad DeLong's Grasping Reality • 269 implied HN points • 29 May 25
🇺🇸 U.S. Politics Political Economy
  1. Kevin Warsh believes the Federal Reserve should not have authority over bank regulation and should defer to the Treasury instead. This raises questions about what role the Fed really should play in the financial system.
  2. Historically, the U.S. economy has struggled during banking crises due to a lack of a strong central bank. Events like the Panic of 1907 highlighted the need for a central authority to manage financial stability.
  3. The effectiveness of the Federal Reserve hinges on its ability to monitor and regulate banks. Without this oversight, its role as a lender of last resort becomes less effective, suggesting bank regulation is crucial to the Fed's mission.

De-dollarization is about more than currencies: As dollar system declines, what comes next?

Geopolitical Economy Report • 378 implied HN points • 03 May 23
🌍 World Politics Political Economy
  1. De-dollarization is a shift away from the US dollar system towards a new economic system based on reducing imbalances and promoting balanced economic growth.
  2. The current crisis in the dollar system is exposing vulnerabilities, such as declining capital inflows and the need for central bank intervention to prop up asset markets.
  3. The future economic system may involve a mixed public-private economy, government intervention in strategic sectors, and capital controls to prevent financialization and promote productive expansion.

Developing a New (Alan) Taylorism for the Remainder of the 21st Century

Brad DeLong's Grasping Reality • 238 implied HN points • 31 May 25
💰 Finance Political Economy
  1. We need to learn from past economic crises so we can prepare for future shocks. They often have long-lasting effects on our economy, making recovery much harder.
  2. Controlling inflation is key for political stability. When inflation is low and stable, people trust their leaders and feel secure about the economy.
  3. Even with challenges, like low interest rates, we have a great chance for investment in things like infrastructure and education. We should take advantage of these conditions to grow.

No, this isn't normal

Erdmann Housing Tracker • 463 implied HN points • 23 Jan 25
🇺🇸 U.S. Politics Political Economy
  1. Many people argue that housing costs have always been high, but this isn't accurate. In the past, housing prices were much more stable compared to the rapid increases we've seen in the last few decades.
  2. High housing costs today are not just due to demand. There's a complex web of factors that includes limited housing supply and economic changes, which makes it harder for people, especially those with lower incomes, to afford homes.
  3. The impact of rising rent prices isn't felt equally. While wealthier areas may see rents that align with income growth, poorer communities face much higher rent increases, making it challenging for families to maintain their living situations.

Why Trump killed congestion pricing

Silver Bulletin • 386 implied HN points • 20 Feb 25
🇺🇸 U.S. Politics Political Economy
  1. Congestion pricing in New York has made commuting faster for many people, saving them time despite the added fees. Some drivers find it worth paying extra to avoid long traffic delays.
  2. Not everyone benefits equally from congestion pricing; it can be a burden for lower-income commuters who rely on personal vehicles. Still, it helps reduce traffic and pollution in the city.
  3. The policy has mixed effects on local businesses. While it may deter some visitors, faster travel within the city could encourage local spending from commuters using public transit.

Economics Links, 1/25/2025

In My Tribe • 410 implied HN points • 25 Jan 25
💰 Finance Political Economy
  1. Many experts believe that relying on government decisions can be inefficient because it often favors those with political power instead of addressing real needs.
  2. Inequality is a natural part of society, and efforts to eliminate it through government action can lead to problems, including promoting wokeness.
  3. Economic data can often be misleading due to measurement errors, making it hard to trust figures that inform important decisions like GDP or monetary policies.

Discussing Debt & Proclaiming Liberty

System Change • 314 implied HN points • 26 Jun 23
💰 Finance Political Economy
  1. Debt forgiveness and liberty were fundamental in ancient societies through practices like the Jubilee principle.
  2. Historical principles of debt cancellation and freedom are echoed in modern-day struggles against oppression.
  3. Discussions on debt and system change are essential for understanding today's financial landscape.

Bullet Points: Arguments about Arguments edition

The Future, Now and Then • 110 implied HN points • 24 Aug 25
🇺🇸 U.S. Politics Political Economy
  1. Investment bubbles can lead to innovation, but the risks often fall on those without wealth or influence. The idea that we should create more bubbles because they are 'good' ignores the significant consequences for everyday people.
  2. Current efforts for progressive policy changes, like permitting reforms for energy projects, face challenges in today’s political environment. Major opposition from political figures makes swift action nearly impossible.
  3. There is debate about whether staying on platforms like Twitter is still valuable, but many feel it's no longer worth it due to a lack of genuine interaction and increased bot activity. Engaging there can also limit what you can say without facing backlash.

China's Vanishing Wealth

Diane Francis • 519 implied HN points • 09 Mar 23
💼 Business Political Economy
  1. Wealthy business leaders in China are disappearing or facing government crackdowns without clear reasons. This shows a shift towards increased government control in key industries.
  2. China's past economic growth relied on free enterprise, which helped lift millions out of poverty. Now, the current leadership seems to favor a more centralized, state-controlled economy.
  3. The government's actions against successful entrepreneurs send a warning to investors about the risks of doing business in China. Many are now hesitant to engage due to fears of losing their investments.

Soviet Ruins and China's Future

ChinaTalk • 474 implied HN points • 21 Oct 24
🌍 World Politics Political Economy
  1. China looks to the lessons of the Soviet Union to understand its own economic strategies and potential risks. By studying the past, they hope to avoid similar pitfalls in governance.
  2. The distribution of resources in an economy is crucial for success. If too much is spent on heavy industry and not enough on consumer goods, it can lead to dissatisfaction and inefficiencies.
  3. Khrushchev's time saw a shift in the Soviet mentality from military competition to economic competition with the West. This idea of competing systems is still relevant today, especially in how China views its place in the world.

December 9, 2025

Letters from an American • 26 implied HN points • 10 Dec 25
🇺🇸 U.S. Politics Political Economy
  1. Cable news adopted a profit-driven strategy that favors culture-war stories because they pull in viewers, and that coverage makes cultural issues seem more important to voters while helping right-wing politicians.
  2. The current political leadership treats the government like a media operation, placing loyalists and TV personalities in power and trying to control or reshape news outlets to push a version of reality often detached from facts.
  3. Most people's lives and most laws are about economic and affordability issues, but media focus and corporate consolidation distract from those concerns; by contrast, strong investigative journalism has historically exposed power and spurred reform.

Wealth Always Hits a Limit

European Straits • 10 implied HN points • 12 Jan 26
💼 Business Political Economy
  1. Businesses based on software, finance, and intellectual property enjoy increasing returns and can escape price competition, letting a small owner class concentrate large amounts of wealth.
  2. Global reserve-currency dynamics (especially the dollar’s dominant role) break normal exchange-rate rebalancing, locking in advantages for southern-side digital and financial firms while hollowing out domestic manufacturing.
  3. Physical manufacturing remains constrained by currency and price competition, so overall wealth concentration will eventually hit limits via currency shifts, falling consumption, and political backlash.

Why haven't markets disciplined public finance management practices in African states?

An Africanist Perspective • 277 implied HN points • 20 Jan 23
🌍 World Politics Political Economy
  1. African countries face high debt risks, diverting resources from critical areas like education and healthcare to debt servicing.
  2. The lack of market discipline in public finance management in African states can be attributed to factors like moral hazard involving foreign creditors and poor linkages to political institutions.
  3. Lessons learned from past debt crises emphasize the importance of democratizing public finance management and learning from mistakes to make smarter policy decisions.

When left and liberal don’t go together - the case of strikes

The Path Not Taken • 110 implied HN points • 21 Jul 25
🇺🇸 U.S. Politics Political Economy
  1. Strikes in different industries, like mining and academia, show how cultural and structural differences impact worker solidarity. In mining, there were strong community ties that enforced collective action, while in academia, remote work and less shared community make it harder to hold people accountable.
  2. Left-authoritarian views often prioritize group loyalty and can lead to harsher reactions towards those who break picket lines. This creates a clear enemy and strengthens the resolve of strikers.
  3. Public sector workers tend to lean towards left-liberal beliefs, which can make it difficult for them to engage strongly in strikes. They prefer to avoid judging others and might not feel the same urgency to support collective actions.

Top Links 580 How Bejing took over in Hong Kong. The dark tanker fleet off Malaysia. Potato collusion & freeing hermit crabs from plastic.

Chartbook • 314 implied HN points • 06 Dec 24
🌍 World Politics Political Economy
  1. Beijing's influence in Hong Kong has grown significantly, leading to a shift in control over its financial hub. This change impacts how the West interacts with Hong Kong's economy.
  2. There are dark tanker fleets off Malaysia, which implies issues related to shipping and potentially illegal activities. It raises questions about maritime security and trade.
  3. Interesting stories include 'potato collusion' and efforts to free hermit crabs from plastic, highlighting different aspects of culture and environmental issues. These topics show how diverse and quirky news can be.

Newsom’s Rule: Rights Deferred, Authority Expanded

Who is Robert Malone • 16 implied HN points • 24 Dec 25
🇺🇸 U.S. Politics Political Economy
  1. Newsom has expanded executive and public-health power since COVID, normalizing emergency authority and helping create a West Coast Health Alliance that centralizes vaccine policy and reduces local and legislative oversight.
  2. California is facing economic strain from rising housing costs, higher taxes and fees, growing homelessness, and a proposed one-time 5% billionaire wealth tax that critics say is accelerating capital and business flight.
  3. The state’s policies are described as driven by 'suicidal empathy'—a belief that excessive compassion and guilt have led to decisions that trade personal rights and long-term stability for short-term social aims.

Behavioural Geopolitics: The mechanics of autocratic nations

Klement on Investing • 3 implied HN points • 11 Feb 26
🌍 World Politics Political Economy
  1. Autocratic leaders must buy and maintain loyalty from a small inner circle, so they divert state money and power to allies and corruption spreads down the hierarchy.
  2. That diversion impoverishes ordinary people and weakens public services, while natural-resource revenues let autocrats keep the payouts going and prolong their rule.
  3. When domestic funds run short, autocracies often look outward for money or resources and may use aggression or war to get them, so democratic backsliding raises the risk of interstate conflict.

Is low turnout undermining growth?

Comment is Freed • 74 implied HN points • 14 Aug 25
🇺🇸 U.S. Politics Political Economy
  1. Low voter turnout is a big issue in the UK, with many eligible voters not participating in elections. This leads to an unrepresentative group making decisions that don't reflect the wider population.
  2. When certain groups, like younger or poorer individuals, vote less, their needs and interests get ignored by politicians. This can create more inequality and unfairness in society over time.
  3. To improve voter participation and fairness in politics, some suggest making voting compulsory. This could help ensure more people participate and that politicians pay attention to everyone's needs, not just powerful groups.

This is Hypertext

Hypertext • 139 implied HN points • 20 Nov 23
🇺🇸 U.S. Politics Political Economy
  1. Hypertext journal is a new platform from the Niskanen Center focused on liberalism, political economy, and policy.
  2. They aim to engage in thoughtful dialogue through essays to bring people together and restore the original promise of hypertext.
  3. The Niskanen Center works to bridge the gap between traditional left and right ideas by injecting fresh perspectives into public discourse.

This Hideous Moment!

Daniel Pinchbeck’s Newsletter • 15 implied HN points • 12 Dec 25
🇺🇸 U.S. Politics Political Economy
  1. We are on a dangerous new threshold where fast-moving technologies — AI, biotech, weaponized drones, and mass surveillance — combined with extreme corruption could push society toward a technocratic, totalitarian spiral. Most people lack the language or awareness to grasp how quickly this is happening.
  2. Some observers feel a strange mix of anxiety and exhilaration, taking on a prophetic or witness role and using intense study and tools like AI to synthesize information, even while their warnings are often ignored. They maintain a sense of mission and detachment amid the upheaval.
  3. The future is highly uncertain: it could lead to catastrophe (war, ecological collapse, engineered annihilation) or to a post-technological shift toward small, regenerative, networked communities; this unpredictability highlights the need for greater public awareness and resilient alternatives.

Social Theory for the Mid-21st Century: Part III. How Can the Experiences of Past Societies of Domination Be Relevant for Us?

Brad DeLong's Grasping Reality • 269 implied HN points • 17 Nov 24
📖 Philosophy Political Economy
  1. Past societies often operated under systems of domination, where a small elite would take resources from the majority. This made it difficult for anyone to improve their situation without facing threats or violence.
  2. Technological progress today is much faster than in earlier times. This rapid change creates new challenges that previous societies never had to deal with, making lessons from the past less applicable.
  3. Understanding the internal workings of elite groups in past societies can provide some insights today. However, we shouldn't assume we are bound by their limitations because our circumstances are very different.

Why no one likes land taxes

Economic Forces • 20 implied HN points • 20 Nov 25
🇺🇸 U.S. Politics Political Economy
  1. Voters often dislike property taxes because they feel like paying rent to the government on something they already own. Economists, however, believe property taxes are ideal since they are based on the fixed value of land.
  2. Inefficient taxes tend to keep taxpayers more vigilant and engaged in political matters. This means when taxes hurt more, people fight against them, which can keep government spending in check.
  3. Real-world tax systems often blend efficient and inefficient taxes. While economists may recommend more efficient taxes, voters may prefer a mix that protects them from overly aggressive government actions.

Tang Shiping on The New Landscape of International Political Economy and Economic Development of the Global South

Pekingnology • 71 implied HN points • 16 Jul 25
🌍 World Politics Political Economy
  1. Countries in the Global South have gained more confidence and can now take charge of their own development. They have learned that they cannot just follow Western advice, as they need to find solutions that work specifically for them.
  2. New technologies like mobile communication and artificial intelligence can improve the economy for all sectors. These tools can help countries adopt better practices in agriculture, manufacturing, and other areas, even with limited resources.
  3. The ongoing rivalry between the U.S. and China is reshaping global trade dynamics. Countries in the Global South need to navigate between these two powers effectively to leverage opportunities and avoid being caught in conflicts.

10 Ways to Think About China

European Straits • 11 implied HN points • 14 Dec 25
🌍 World Politics Political Economy
  1. China prioritizes survival and national strength over pure economic efficiency, putting control, unity, and stability first to avoid past humiliations.
  2. The country developed pragmatically, using step-by-step experiments—agrarian reform, special economic zones, and directed finance—to grow industry quickly while keeping political control.
  3. China’s vast scale reshapes everything it does and, coupled with rapid electrification, gives it unique power to experiment, scale industries, and influence the global economy.

LECTURE NOTES: 5.4. Post-2010 "Polycrisis": Culture, Communications, Politics, & War

Brad DeLong's Grasping Reality • 207 implied HN points • 21 Nov 24
🇺🇸 U.S. Politics Political Economy
  1. We're facing a big change in how we organize our economies and societies after the old Neoliberal Order collapsed. Right now, there's no clear leader or system guiding us towards the future.
  2. Global warming is a major challenge we're dealing with, and it will likely change how we approach economics and society. It could cost us a lot and make it harder to adapt to new technologies.
  3. Misinformation is a huge problem in politics today. Many people believe false information, which can really impact elections and how we view our society.

How to Fix America in One Week

PashaNomics • 2 implied HN points • 04 Feb 26
🇺🇸 U.S. Politics Political Economy
  1. The United States functions more as a state-driven economy than a pure market one, with large flows of taxpayer money ending up with “state oligarchs” who effectively own and profit from the system.
  2. Money is used to fund propaganda that hides that ownership and justifies continued spending, using narratives that either ignore the state’s role or worship it as necessary.
  3. The first step to fixing this is clear shared understanding: collect data, track money and propaganda, and negotiate realistic deals or reforms to interrupt the regressive feedback loop instead of just chasing fraud.

AI is thirstier than humans

storyvoyager • 8 implied HN points • 21 Dec 25
🕹 Technology Political Economy
  1. AI and other technologies are consuming more of our scarce resources like water, energy, and land, so they compete directly with humans for basic needs.
  2. In a market that rewards capital, resources flow to whatever is most profitable, meaning machines could get prioritized over human needs and people might lose access to resources even if they no longer have to work.
  3. Instead of technology being a tool for life, life risks becoming an appendage of technology, leaving humans freed from labor but trapped by technological consumption and limited freedom.

Capitalists Do Not Take Risks.

JoeWrote • 130 implied HN points • 19 Nov 24
🇺🇸 U.S. Politics Political Economy
  1. Capitalists often claim they take risks when starting businesses, but the reality is they just risk losing money, while workers create the real value.
  2. The idea that financial risk deserves the biggest reward is flawed. Labor plays a crucial role in producing wealth and should be valued more than just money at stake.
  3. Ultimately, capitalists face the possibility of becoming workers themselves if their businesses fail, but this isn't much of a risk compared to the actual physical and personal risks that workers take daily.

Naming the Perp: Very Few People Cause All of the World's Worst Problems

God's Spies by Thomas Neuburger • 125 implied HN points • 27 Nov 24
🇺🇸 U.S. Politics Political Economy
  1. A small number of wealthy individuals control a huge amount of money. Just 800 Americans hold around $6 trillion, showing how wealth is very concentrated.
  2. Investment firms manage a lot of this wealth, with 117 people deciding where to invest over $50 trillion. This means a few people hold significant power over global investments.
  3. Most of the world's problems are caused by a tiny group of individuals. Recognizing them makes it easier to hold them accountable and work towards change.

WEEKLY BRIEFLY NOTED: For 2024-11-27 We

Brad DeLong's Grasping Reality • 115 implied HN points • 27 Nov 24
🇺🇸 U.S. Politics Political Economy
  1. Zero-sum thinking is on the rise, where people believe that economic growth takes away from someone else instead of benefiting everyone. This mindset can lead to less motivation and lower innovation in society.
  2. The belief that changes in the economy will harm individuals' existing benefits is a growing concern. Many people are starting to think that opportunities for advancement are limited.
  3. Recent predictions suggest that the U.S. economy could surprise us with better growth than expected. This positive outlook contrasts with the general fears of economic decline.

The True Shape of America's Debt & Deficit "Burdens"

Brad DeLong's Grasping Reality • 261 implied HN points • 02 Feb 24
🇺🇸 U.S. Politics Political Economy
  1. Debt-to-GDP ratio in the U.S. has fluctuated over the years, with significant changes under different administrations.
  2. The U.S. could manage its debt by matching program spending to taxes in the future, allowing it to gradually diminish.
  3. The current U.S. deficit is a concern as it exceeds the optimal level, posing a risk for the future due to political and economic factors.

Gunpowder-Empire Fiscal Legibility & State Development: Economic History/Political Economy Seminar

Brad DeLong's Grasping Reality • 222 implied HN points • 04 Mar 24
💾 History Political Economy
  1. The Viceroyalty of New Spain in 1550 was dominated by a gunpowder-empire machine with Castilians and indigenous populations, showcasing early forms of state development.
  2. The introduction of the Patio Process in 1554 for silver extraction revolutionized mining districts in Mexico, attracting workers and increasing prosperity due to the flow of mercury.
  3. Improved fiscal legibility in mining districts post-Patio Process led to accelerated political centralization, as viceroys had more confidence in transitioning areas from encomienda to corregimiento for better state control and revenue collection.

Briefly Noted

Unpopular Front • 35 implied HN points • 12 Jun 25
🇺🇸 U.S. Politics Political Economy
  1. Trump's idea of rebuilding America mixes old protectionist ideas with modern technology. This mix shows a deep desire to return to a past way of doing things while ignoring the advancements of the Enlightenment.
  2. Trump represents both wealth and the chaos of financial failure. His life story reflects a bigger story about America, blending success with economic downturns.
  3. To understand Trump and his influence, it's important to look at his financial struggles and how they match up with the nation's challenges. His rise is tied to a deeper sense of despair in American politics.