As a millennial my whole life has felt pretty Malthisuan. I haven’t personally really benefitted from productivity increase, I have seen any competitive edge I had by being smarter or early to things erode away rapidly again and again. The only real defense is accumulated wealth or connections possibly.
Vibecession is such a stupid, patronizing term. It’s been so obvious for so long that basic needs like housing are becoming more expensive, and yet economists can’t stop talking about their “basket of goods” as if the way that’s decided upon isn’t just vibes
Many parallels between this article and another posted today ("Unsubscribe from the Church of Graphs" https://news.ycombinator.com/item?id=47604253). Both are responses to astralcodexten posts, and the vibes felt around anecdata vs statistics.
This is such a myopic article and "vibecession" is the stupidest term that betrays a deep disconnect from reality.
The 2020's economy across the board is objectively down the shitter because wealth is too concentrated at the top. There is no venture capital for businesses to begin or hire, there is no liquidity or credit to keep headcount.
There are very clear causes for this: stupid governments enacting stupid tariffs and cutting ties to the global economy via destroying strategic partnerships, shutting down migration, and stupid wars that immediately caused the global economy to nosedive.
The clearest problem is that the capitalist world is in a negative feedback loop with idiots at the helm. Without wealth circulation, there is no consumer economy and everything falls apart.
However, this is the reality that everyone deserves. Trump won by a narrow majority again in the US despite seeing him tank the economy in his first term.
As a millennial my whole life has felt pretty Malthisuan. I haven’t personally really benefitted from productivity increase, I have seen any competitive edge I had by being smarter or early to things erode away rapidly again and again. The only real defense is accumulated wealth or connections possibly.
Baumol's cost disease, I wonder?
Vibecession is such a stupid, patronizing term. It’s been so obvious for so long that basic needs like housing are becoming more expensive, and yet economists can’t stop talking about their “basket of goods” as if the way that’s decided upon isn’t just vibes
Many parallels between this article and another posted today ("Unsubscribe from the Church of Graphs" https://news.ycombinator.com/item?id=47604253). Both are responses to astralcodexten posts, and the vibes felt around anecdata vs statistics.
This is such a myopic article and "vibecession" is the stupidest term that betrays a deep disconnect from reality.
The 2020's economy across the board is objectively down the shitter because wealth is too concentrated at the top. There is no venture capital for businesses to begin or hire, there is no liquidity or credit to keep headcount.
There are very clear causes for this: stupid governments enacting stupid tariffs and cutting ties to the global economy via destroying strategic partnerships, shutting down migration, and stupid wars that immediately caused the global economy to nosedive.
The clearest problem is that the capitalist world is in a negative feedback loop with idiots at the helm. Without wealth circulation, there is no consumer economy and everything falls apart.
However, this is the reality that everyone deserves. Trump won by a narrow majority again in the US despite seeing him tank the economy in his first term.
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