In today's @bopinion post, I explain why we need to do more than just give people cash. We need to make sure that everyone has access to affordable housing, health care, transportation, and nutritious food.

bloomberg.com/opinion/articl…
This reiterates what I've been saying for a long time, but it's also a response to @elidourado's post on the same topic!

medium.com/cgo-benchmark/…
Whereas @elidourado focuses on using new *technology* to get low-income Americans the basic necessities of life, I argue that in the crucial areas of housing and health care and transportation, what's really needed is better *policy*.
In health care, we need national health insurance to force down prices.

In housing, we need various pro-density measures.

In transportation, we need to identify and address sources of excess construction cost so we can actually build trains.
Better technology can help. More cash benefits are good. But to really get Americans the essentials of life, we need better policy to force down the cost of health care, construction, and rent!!

(end)

bloomberg.com/opinion/articl…

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More from @Noahpinion

7 Feb
1/So, economists are debating whether Biden's COVID relief bill is too large.

I think this debate has been misframed somewhat, by thinking of the bill as "stimulus". In fact, it's more like retroactive social insurance.

noahpinion.substack.com/p/covid-relief…
2/In this thread, Olivier Blanchard uses Keynesian concepts such as the output gap and the fiscal multiplier to analyze the size of the bill, and argues that it's too large.

3/The fear is that if the bill is too large relative to the "output gap", then the economy will experience rapid inflation, forcing the Fed to raise interest rates, which will hurt growth.

Read 12 tweets
2 Feb
1/Today's @bopinion post is about debt and green investment.

There is no reason to fear deficit spending for this kind of investment.

bloomberg.com/opinion/articl…
2/John Kerry recently declared that we would do “so much economic investment made by people up and down the economic food chain that no future president can reverse it.”

That's going to require a lot of borrowing. But that's OK!

bloomberg.com/opinion/articl…
3/First of all, the actual amount Biden wants to spend -- $170 billion a year -- is very modest compared with the amount of government investment we did in the 50s and 60s.
Read 10 tweets
1 Feb
1/Here's a thread of my recent newsletter about Taiwan!

Americans have very little "consciousness" of Taiwan, compared to Japan and South Korea. That needs to change!

noahpinion.substack.com/p/taiwan-is-a-…
2/How much does the average American know about Taiwan? Precious little, I'd say. Except for bubble tea, most Americans probably wouldn't even recognize Taiwanese food!
3/Some Americans think of Taiwan as part of China (China's government certainly thinks it is!). This may stop them from thinking about Taiwan as a country.

But most Taiwanese people don't consider themselves "Chinese" in the national sense.
Read 31 tweets
31 Jan
1/Today in @bopinion, I decide that America can have a little optimism, as a treat!

bloomberg.com/opinion/articl…
2/The last year made us feel like America was a nation in steep decline. And in some important ways, it *is* in decline.

But not all ways.

bloomberg.com/opinion/articl…
3/On the vaccination front, despite a slow start, we're outpacing most of the rest of the world.
Read 15 tweets
29 Jan
I know it is expensive to subscribe to Substacks. And I am very grateful for all the people who've shelled out the money for mine! But also note that 6/7 of my posts are free, and that you can get all the free posts by signing up for my free email list!

noahpinion.substack.com
I hope Substack will include a bundling feature soon, so you can subscribe to me and some other writers together at a discount price.

But in the meantime, a newsletter where 6/7 of the content is free seems like a pretty good deal for those who don't have the $ for a sub! :-)
And even if at some point I decide I need more $$ from my newsletter and put more posts behind the paywall, I will always keep a substantial portion of the content free, since I believe in the old ideal of the Blogosphere!
Read 4 tweets
29 Jan
An old man on the streets of Berkeley once taught me that we compliment other people in part because we want to make ourselves feel more positive about them, but that sometimes this purpose is better served by withholding a compliment and just thinking about it internally.
He also believed that everyone hates each other to some degree, even if they love each other as well, and that honest interaction between people couldn't begin until they said "I hate you" to each other.
Ahh, I see he has his own Wikipedia page. Really interesting guy. I would sit around talking to him at 1 AM. Was sad when I heard he passed away a few years ago.

en.wikipedia.org/wiki/Hate_Man
Read 4 tweets

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