...James Mayer de Rothschild: ‘There are three principal ways to lose money: drinking wine, wooing women, and employing engineers. While the first two are far more pleasant, the third is superior as by far more certain… LINK: <en.wikipedia.org/wiki/James_May…>... 2/
...One Video: Engadget: EUV: Lasers, Plasma, & the Sci-Fi Tech that Will Make Chips Faster <>... 3/
...Steve M.: Does J.D. Vance Want a Literal Shooting War Against Progressives & “Woke Capital”?<nomoremister.blogspot.com/2021/06/does-j…>

EBMUD: De Laveaga Trail to Siesta Valley <lamorindahikes.com/2021/02/12/de-…>

Michael Kalecki (1943): Political Aspects of Full Employment <delong.typepad.com/kalecki43.pdf> 4/
...Andre Damon: Author of Wall Street Journal “Wuhan lab” Story Wrote Lies About Iraqi “Weapons of Mass Destruction”: ’The lead author of the Journal piece, Michael R. Gordon, was the same man who, along with Judith Miller, wrote the September 8, 2002 article falsely...
... asserting that Iraqi President Saddam Hussein was seeking to build a nuclear weapon… <wsws.org/en/articles/20…>

Paul Krugman: Yellen’s New Alliance Against Leprechauns: ‘Apple… until 2014… a large share of its global profits was assigned to Apple Sales International... 6/
..., which was registered in Ireland but for tax purposes was located nowhere at all… <nytimes.com/2021/06/07/opi…>

Diane Lim: ’Demand outpacing (labor) supply: Interest over time on Google Trends for restaurants near me, jobs near me… <> 7/END

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More from @delong

10 Jun

First: We economists observe the very broad sweeps of data generated by firms and governments accounting systems. They arise out of human propensity to cement social bonds and deepen our societal division of labor by entering into reciprocal gift-... 1/
...We economists observe the very broad sweeps of data generated by firms and governments accounting systems. They arise out of human propensity to cement social bonds and deepen our societal division of labor by entering into reciprocal gift-exchange relationships. We... 2/
... have both extraordinarily amplified yet also narrowly focused these by mediating them via through the social fiction of “money“. Thus gift-exchange gets divided into one-shot cash-on-the-barrelhead quantified discrete episodes. And from the counted-up totals and... 3/
Read 10 tweets
9 Jun

Key Insights:

1. When industrial policy in America has been successful, it has always had a profound political driving motive: maintaining independence, manifest destiny, Sputnik, and so on. The only such driver today—and it is urgent—is green... 1/
... energy to fight global warming…

2. There is a four-day creative-destruction festschrift for Philippe Aghion & Peter Howitt starting June 9: The Economics of Creative Destruction <zoom.us/j/98595732585>

3. The U.S. used to be excellent not just on the “novelty”...
...prong of Breznitz’s prosperity-in-an-unforgiving-world quadent, but also on the “engineering design”, “second-generation innovation”, and “production-assembly” prongs as well. We threw that away in the era Reagan began—the era of neoliberalism, financialization-driven... 4/
Read 12 tweets
8 Jun

With unit cost falling as the number of components per circuit rises, by 1975 economics may dictate squeezing as many as 65 000 components on a single silicon chip... 1/
...Integrated circuits will lead to such wonders as home computers—or at least terminals connected to a central computer—automatic controls for automobiles, and personal portable communications equipment. The electronic wristwatch needs only a display to be feasible today... 2/
...But the biggest potential lies in the production of large systems. In telephone communications, integrated circuits in digital filters will separate channels on multiplex equipment. Integrated circuits will also switch telephone circuits and perform data processing... 3/
Read 6 tweets
8 Jun

First: Yes, Republican politicians say in private. Trump is dangerous to our democracy and unstable. But it would be limiting to our careers for us to do anything but enthusiastically support him. And he is rapidly losing his grip—very soon he will... 1/
...be gone, so why should we do anything other than enthusiastically support him? And, in any event, the Democrats will block him from doing anything really bad.

That is what they all think, and do. All but Liz Cheney:

Steve Schmidt: ‘Most significantly, [Liz Cheney]... 2/
...talks about her colleagues being intimidated by the Trump Mob. When the people’s representatives make votes on the basis of their fear of violence, democracy is in great crisis… <https://twitter. com/SteveSchmidtSES/status/1402082262632615941>... 3/
Read 8 tweets
8 Jun

Dear Mr President,

You have made yourself the Trustee for those in every country who seek to mend the evils of our condition by reasoned experiment within the framework of the existing social system. If you fail, rational change will be gravely... 1/
... prejudiced throughout the world, leaving orthodoxy and revolution to fight it out. But if you succeed, new and bolder methods will be tried everywhere, and we may date the first chapter of a new economic era from your accession to office. This is a sufficient reason... /2
...why I should venture to lay my reflections before you, though under the disadvantages of distance and partial knowledge. At the moment your sympathisers in England are nervous and sometimes despondent. We wonder whether the order of different urgencies is rightly... 3/
Read 7 tweets
6 Jun

Twitter’s aggregation tools are absolute s–––. They are s––– by design: trying to trap your eyeballs within their walled garden in order to sell you ads to… so far this week it’s just clickbait websites, not overpriced gold funds, crypto scams... 1/
...or fake medical cures. So far this week.

This means that when there is a good discussion on twitter—increasingly rare these days—it is hard to save and then present it elsewhere. <twitter.com/threadreaderapp> will do tweet storms but not conversations.

I hoped this... 2/
...morning that <wakelet.com> would be a solution, but it was (a) slow, (b) clunky, and (c) buggy—at least on Mac Safari with a quad-core i5-1030NG7 running at 1.1 GHZ. (How much better it would be on an M1 I won’t know until and unless I try it in my office)... 3/
Read 5 tweets

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