Discover and read the best of Twitter Threads about #stimulusspending

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Item #3 for building back better

We are unlikely to return to the same state of the world as when we entered the #pandemic, nor is this desirable. #Remoteworking has the potential to become more prevalent after the crisis.
Investments might shift from face-to-face working (and lower the cost of #officerealestate and time for #commuting).
#Stimulus spending should focus investments on the enablers of this new approach to work, e.g., #5G rollouts, #broadband infrastructure, #satellites for global reach, server farms for adequate capacity, etc, all with effective #privacy protection.
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Item #2 for building back better

The covid crisis must be used to accelerate the transition to an electric, zero-carbon economy, to reduce climate tail risk.
This includes:

(a) investments in renewable energy (and maybe nuclear, if it can be made fast and safe) for powering the industry;

(b) electrification of trains, trucks, public transport, and cars; and
(c) investments to improve true sustainability of farming, food manufacture, housing, and commercial real estate.

Free pdf with new paper here:

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1/4 #Nuclear power plants are bespoke, slow to build, and fat tailed for financial and safety risks. #Wind farms and #energystorage are modular, fast, and thin tailed.
2/4 By choosing wind over nuclear, the risk of regression to the tail will be significantly reduced, and #climate goals will be achieved sooner. This is just one example. Many others exist.
3/4 Every investment alternative must be assessed in this manner to ensure that #stimulus spending becomes a boost instead of a drag on the economy. The latter is happening more often than we like to think.

Free pdf with new paper:

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1/4 Rebuilding the economy after covid-19 will be subject to the law of regression to the tail, if less dramatically than the pandemic. Loss of life will hopefully fade as a main risk. But financial fragility, wealth destruction, and debt will continue to be key risks for a while Image
2/4 The massive stimulus spending governments use to restart economies in recession comprise giant construction and investment projects with fat-tailed financial risks, like multi-billion-dollar megaprojects in IT, transport, energy, water, education, housing, health, and defense
3/4 Some projects are more fat-tailed than others, i.e., they are more susceptible to the law of regression to the tail. Data analytics should be used to separate fat-tailed projects from thin-tailed ones, and stick with the latter whenever possible. We know how to do this.
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