I just finished reading Youssef Courbage and Emmanuel Todd’s A Convergence of Civilizations: The Transformation of Muslim Societies Around the World. Anything by Todd is worth reading. I do not know of a scholar with a stronger nose for signal. In this particular book, they argue for the importance of a very interesting modernization signal. Specificall…| policytensor.substack.com
The catastrophic failure of the law of one price| Policy Tensor
A good friend of mine, who wishes to remain anonymous, is one of the youngest staff engineers at Google.| Policy Tensor
Boundaries and Coherence of the Economics Discipline| policytensor.substack.com
Reintermediation is the only path forward for Democrats| policytensor.substack.com
No class gradient is a big win for democratic socialism| Policy Tensor
Why have firms been underinvesting since 1980?| policytensor.substack.com
Almost exactly one year ago, I argued on these pages that the CBO’s rate assumptions were far out. I pointed out that the CBO was assuming that the effective rate on outstanding federal debt would converge to 3.6 percent in a decade, which was then at the very upper end of the long-term range of the FOMC members. How far have we come in a single year. Now I am going to tell you that the CBO is being way too sanguine about its rate assumptions. And that this poses an existential risk to the ...| Policy Tensor
Wither the Mighty Dollar?| policytensor.substack.com
And how did we get here?| policytensor.substack.com
The global fallout of Liberation Day cannot be judged solely on the basis of the list of published tariffs.| Policy Tensor
Why does the Jewish state punch so far above its weight?| policytensor.substack.com
As I’ve explained before, the Americans have to depart Europe for Asia simply because holding the line on the central front will consume the entire strength of the United States.| policytensor.substack.com
I’ve been thinking about this meme a lot these days.| policytensor.substack.com
On the dangers of the GDP fetish| policytensor.substack.com
On the instability of a tripolar world| policytensor.substack.com
Sino-American relations are too important to bungle| policytensor.substack.com
Has the contrast ever been greater?| policytensor.substack.com
Debunking the net-flows paradigm| policytensor.substack.com
US equities are pricing a recession| policytensor.substack.com
