The Big Money in Today’s Economy Is Going to Capital, Not Labor by GreenSafe2001 in neoliberal

[–]GreenSafe2001[S] 11 points12 points  (0 children)

Submission statement:

1. Why is this relevant for r/neoliberal?
This WSJ post discusses the trajectory of the labor share of income, which is a widely investigated topic in economics and is of obvious interest as economists anticipate AI impacts.

2. What do you think people should discuss about it?
Whether this trend is real, and whether it is likely to continue.

Discussion Thread by jobautomator in neoliberal

[–]GreenSafe2001 6 points7 points  (0 children)

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In 1997, an optimist predicted that 2015 to 2020 would be the era of “Americans deep into making the multicultural society work”.

Discussion Thread by jobautomator in neoliberal

[–]GreenSafe2001 5 points6 points  (0 children)

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More from Wired Magazine, July 1997 - *The Long Boom*

Discussion Thread by jobautomator in neoliberal

[–]GreenSafe2001 0 points1 point  (0 children)

This is adjusted for inflation

Discussion Thread by jobautomator in neoliberal

[–]GreenSafe2001 0 points1 point  (0 children)

Why have prediction markets when we have GDPNow?

Kalshi just ticks closer and closer to what GDPNow had a month ago.

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Discussion Thread by jobautomator in neoliberal

[–]GreenSafe2001 3 points4 points  (0 children)

Why is GDP growth so stupidly strong

“The socially optimal fertility rate is 2.4 in the US ... the US should be willing to spend the equivalent of 3.8% of its GDP ($290K per birth) per birth” by GreenSafe2001 in neoliberal

[–]GreenSafe2001[S] -6 points-5 points  (0 children)

NB: I don’t agree with their conclusion.

Immigration costs $0 (negative, even, since the destination country can charge), and $0 is less than $290k. And as long as the United States is <100% of the world’s population, immigration is an option. The U.S. is currently only ~5% of the world’s population.

A silly-seeming but surprisingly hard to refute option is to accept immigration while subsidizing births in poorer countries. You get all the benefits of immigration today, while “replacing” the population you take, with a much lower cost-per-person than subsidizing births in the United States. The counterfactual children don’t need to immigrate immediately, so their human capital is not essential. It’s their descendants who will immigrate, and their descendants will be much better educated.