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Erik Torenberg
@eriktorenberg
, 3 tweets, 2 min read Read on Twitter
.@tylercowen says it's best to culturally promote economic growth indirectly by promoting religious values (mormon values are particularly good for this, among others), but I've wondered whether a movement that promoted it more explicitly could gain momentum.
@tylercowen We already have the bad/(unsustainable) kind of movement built on economic growth (nihilistic consumerism/materialism), we might as well create better ones.
@tylercowen More extremely, I've also wondered whether economic growth as a "deity" could ever work or become mainstream

Does a belief in GDP not require some faith?

The Gods of specialization!

Source of all things!

All hail Progress!

Again, we worship Kim K & photo likes, why not GDP?
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More from @eriktorenberg see all

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Erik Torenberg
@eriktorenberg
What roles do mental models serve?

Simplicity, coherence, and internal consistency.

They’re blinders — like the blinders put on horses to prevent them from getting distracted.

[Quoting @vgr on @farnamstreet podcast:]
Zooming out:

Think of the world as an incredibly confusing place that throws off huge amounts of info in an extremely high bandwidth way

The raw info rate coming through your eyes alone — the amount of raw bit rate info across frequencies band in which eyes are sensitive —
If we had to process that amount raw information…it would make our brains explode.

Not enough processing power in the brain to handle that raw input.
Read 8 tweets
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Erik Torenberg
@eriktorenberg
Official Co-sign:

@jamesg_oca is a phenom. Amazing hustle, curiosity, and ability to pursue asymmetric bets.

Imagine a @HarryStebbings like talent in the ISA space--except he's also helping invent the category.

Thrilled that he'll explore ISAs w/ @beondeck as an EIR.
@jamesg_oca @HarryStebbings @beondeck Check out his research w/ the fantastic @Career_Karma team here:

careerkarma.com/blog/shifting-…
@jamesg_oca @HarryStebbings @beondeck He's an example of why it’s important to take asymmetric bets as a young’n—b/c you can

He’s publicly traded—if that’s dumb in 5 yrs, he can blame it on his age

If everyone’s doing it, he’s a genius

We can’t do it. Too much to lose

The asymmetry of asymmetric bets favors youth
Read 3 tweets
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Erik Torenberg
@eriktorenberg
1. Markets & Communities:
2. Meaning:
3. Markets & Tribes Eat the world:
4. Future of talent discovery:
5. ISAs:
6. Talent Marketplaces:
7. Founder pooling:
8. Prediction Markets / Idea Markets:
9. How to evaluate markets:
10. Education / Homeschool:
11. Social Capital:
12. Thesis behind nonzero:
13. P2P Credentialing
14. People Search Engines
15. Augmenting Relationships: .
16. Human Coordination:
Read 3 tweets

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Dr. V. Ramachandra Reddy
@RamChReddy
I always feel puzzled by what economists say. Many advocate #capitalism and some, however, say socialism is the best. If capitalism is best why do we have recessions, stock market meltdowns and bailouts to big businesses at the cost of the poor?
If socialism is the best, why Bolivars are being thrown away in #Venezuela and why did it collapse in the former Soviet Union in the first place?
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CSM
@usacsmret
How a record-breaking economy is helping those who need it most. dailysign.al/2S6FgHD via @adamnmichel @DailySignal
Average wages have grown above 3% for 10 straight months—twice as fast as inflation. And since the tax cuts of 2017, wage growth for the poorest 25% of workers has reached post-recession highs of 4.4%.
In the most recent data from the Federal Reserve Bank of Atlanta, the highest-income workers’ wages are growing at a more modest rate, more than a percentage point lower than those of low-wage workers.
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wiiw
@wiiw_news
The new @wiiw_news Handbook of #Statistics 2018 contains updated key #macroeconomic & structural indicators for 22 economies in #CESEE serving as easy-to-use reference tool & facilitating comparisons across topics, countries & time.
wiiw.ac.at/wiiw-handbook-…
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New features of the 2018 ed. include e.g.
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All countries in #CESEE experienced positive #economic #growth in 2017, clear leader was #EUCEE with average real GDP growth of 4.9%. Ten economies achieved their highest real #GDP growth rates over the last 5 years.
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Headsnipe01
@Headsnipe011
President Donald J. Trump Champions Economic Growth and Prosperity at the G20 Summit

@drawandstrike @HNIJohnMiller @catesduane @rising_serpent @almostjingo @tracybeanz @TheChiIIum @hfinch63

whitehouse.gov/briefings-stat…
Let us resolve to use our power, our resources, and our voices, not just for ourselves, but for our people — to lift their burdens, to raise their hopes, and to empower their dreams.

President Donald J. Trump
PROMOTING GROWTH AND PROSPERITY: President Donald J. Trump championed the successes of his pro-growth agenda at this year’s G20 Summit.
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Adli Amirullah
@AdliAmirullah
Someone asked me about the difference between government fiscal management and economic growth. The question was: why previous government have bad fiscal management but a relatively high economic growth?

Thread on Economic 101
Footnote: fiscal management means how government manage its revenue and its expenditure to work on a yearly basis. Whereas economic growth is where we usually look at Gross Domestic Product (GDP) growth rate.
FYI, our economic growth is relatively high compare to our neighbouring countries. In 2017, We grew at 5.9% whereas singapore grew at 3.6%, thailand grew at 3.9%, and indonesia grew at 5.1%.
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Sam Bell
@sam_a_bell
10 years ago today -- 3/18/2008 FOMC [Fed policymaking] meeting

comes days after Bear Stearns rescue but real news --> Fed staff thinks America is in a recession

Fed cuts from 3% to 2.25% but 2 hawks - Plosser and Fisher - dissent

transcript: federalreserve.gov/monetarypolicy…

THREAD
Fed staff: we are in a recession but it will probably be a mild one -- unemployment will rise only 1.25% to 5.75%

Bernanke: I'm more pessimistic. I don't see where the recovery comes from
Lot of talk (from St. Louis, Kansas City, Dallas, Philadelphia, Richmond) about rising inflation at this meeting . Fed staff predict core PCE rising to 2.3% by the end of 2008.
Read 23 tweets

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