As you are not already a subscriber, may I invite you to subscribe (for free) to my substack, "Radical Centrist?" https://thomaslhutcheson.substack.com/
I write mainly about US monetary policy, US fiscal policy, trade/industrial policy, and climate change policy.
I have my opinions about which US political party is least bad and they are not hard to figure out, but I try to keep my analysis of the issues non-partisan.
Keynes said, “Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.”
"I Can Predict Exactly How the Superabundant Future Will Look"
Well, maybe in the long run, but I see trouble ahead. We're about to go over a fiscal cliff. It will be painful, especially for boomers in their old age who have nothing to live on besides Social Security. There will inflation and very high interest rates at the same time. The poorest, least-skilled will see their real hourly wages fall. It's a nightmare from which I am trying to awake.
We don’t need jobs in the traditional sense; we need to reduce the labor time individuals must sell to enjoy a fulfilling life. Advancements in technology and the productive forces of the economy—automation, AI, and efficient systems—can minimize necessary work, liberating people for creativity and leisure. To achieve fair income distribution, we could tax the wealth generated by these innovations, particularly from corporations benefiting from automation, and redistribute it as a universal basic income (UBI). This ensures everyone shares in economic prosperity, not just the few who control capital. By aligning incentives with productivity, we create an equitable, sustainable system.
As you are not already a subscriber, may I invite you to subscribe (for free) to my substack, "Radical Centrist?" https://thomaslhutcheson.substack.com/
I write mainly about US monetary policy, US fiscal policy, trade/industrial policy, and climate change policy.
I have my opinions about which US political party is least bad and they are not hard to figure out, but I try to keep my analysis of the issues non-partisan.
Keynes said, “Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.”
the "inevitable" part of the "inevitable retrenchment" you mention is dependent upon hundreds of territories remaining subordinated, but its seems that beneath the surface there ma be cracks forming in many of capital "G" Globalization's local systems...
To reach superabundance we also need to learn how to maintain the wealth we already have. But while our current economic system is great at innovation, it is not good at maintenance, whether maintenance of material resources or of the natural ecosystems on which our lives depend. Oren, why are you so optimistic that AI will be of any help on this front?
And as for Hawley, who can forget his fist pump to the insurrectionists the morning of the attempted coup, followed by the video of him sprinting through the capitol hallways with the thugs in hot pursuit? What a great American.
Oren, thanks for stating the obvious. I’m sure that Don, Elon, and the parade of oligarchs are with you as they scramble to put the little guy first. My god. What thinking, honest human believes that a lifelong charlatan like Don cares a whit about the least among us? Putin (Vlad has the ultimate personal balance sheet BTW, all earned by the sweat of his brow) ranks higher in Don’s mind than workin stiffs. The coming fiscal/tax debates will merely be the latest data point. It’s time for elites like you Oren to comment on the real challenges the nation faces. Hint, it ain’t your scrum with fellow elites. Krugman vs Cass is a silly, irrelevant sideshow. JD was right the first time when he actually blurted out the truth about Don. Then, he pathetically self-gelded, baring his true character. Good luck America.
Oren, I hate to break it to you, but that is a very entry-level “proper” bicycle. Most upper-middles who enjoy cycling have 2 or more bikes worth $8–10k each.
As always, a fantastic piece. Finger squarely on the pulse.
The United States government should create a Treasury Coin — call it “T-coin” — based on the protocol behind Bitcoin. T-coin would be the first government-supported, anonymous, decentralized currency. First, a T-coin would generate trillions for the U.S. government via the magic of seigniorage. Second, the USG could encourage the use of T-coin by, for example, providing discounts to entities which pay their taxes with T-coin or requiring merchants to accept T-coins as payment.
Other than generating onetime revenue, what, exactly, would be the point of this? In light of the behavior of the ruling class over the last 10 years, I have no desire to make it any easier to adopt a "Digital Dollar" of any kind.
I don't have a problem with China trying to restructure global supply chains to their advantage. That is what they should be doing. So are is the Trump administration. May we win that struggle.
What makes you think that the top 1% will share those gains with the rest of us? They haven’t yet.
I don’t see it as you do. But then, I’m a working class person who feels disgusted by the current trajectory.
Hi
As you are not already a subscriber, may I invite you to subscribe (for free) to my substack, "Radical Centrist?" https://thomaslhutcheson.substack.com/
I write mainly about US monetary policy, US fiscal policy, trade/industrial policy, and climate change policy.
I have my opinions about which US political party is least bad and they are not hard to figure out, but I try to keep my analysis of the issues non-partisan.
Keynes said, “Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.”
I want to be that scribbler.
Thanks,
My first thought when you said, "Imagine what life will be like..." was THE JETSONS.
Can't we have that instead?
The name Oren Cass makes me think of Mama Rachael. But that’s nunya unless you she.
2 percent of zero is zero.
Privledged much?
"I Can Predict Exactly How the Superabundant Future Will Look"
Well, maybe in the long run, but I see trouble ahead. We're about to go over a fiscal cliff. It will be painful, especially for boomers in their old age who have nothing to live on besides Social Security. There will inflation and very high interest rates at the same time. The poorest, least-skilled will see their real hourly wages fall. It's a nightmare from which I am trying to awake.
What a crok of nonsense propaganda.
Look at history... the majority have to work more for less.
The middle is being decimated...and this guy says wahey.
We don’t need jobs in the traditional sense; we need to reduce the labor time individuals must sell to enjoy a fulfilling life. Advancements in technology and the productive forces of the economy—automation, AI, and efficient systems—can minimize necessary work, liberating people for creativity and leisure. To achieve fair income distribution, we could tax the wealth generated by these innovations, particularly from corporations benefiting from automation, and redistribute it as a universal basic income (UBI). This ensures everyone shares in economic prosperity, not just the few who control capital. By aligning incentives with productivity, we create an equitable, sustainable system.
Hi
As you are not already a subscriber, may I invite you to subscribe (for free) to my substack, "Radical Centrist?" https://thomaslhutcheson.substack.com/
I write mainly about US monetary policy, US fiscal policy, trade/industrial policy, and climate change policy.
I have my opinions about which US political party is least bad and they are not hard to figure out, but I try to keep my analysis of the issues non-partisan.
Keynes said, “Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.”
I want to be that scribbler.
Thanks,
the "inevitable" part of the "inevitable retrenchment" you mention is dependent upon hundreds of territories remaining subordinated, but its seems that beneath the surface there ma be cracks forming in many of capital "G" Globalization's local systems...
To reach superabundance we also need to learn how to maintain the wealth we already have. But while our current economic system is great at innovation, it is not good at maintenance, whether maintenance of material resources or of the natural ecosystems on which our lives depend. Oren, why are you so optimistic that AI will be of any help on this front?
And as for Hawley, who can forget his fist pump to the insurrectionists the morning of the attempted coup, followed by the video of him sprinting through the capitol hallways with the thugs in hot pursuit? What a great American.
Oren, thanks for stating the obvious. I’m sure that Don, Elon, and the parade of oligarchs are with you as they scramble to put the little guy first. My god. What thinking, honest human believes that a lifelong charlatan like Don cares a whit about the least among us? Putin (Vlad has the ultimate personal balance sheet BTW, all earned by the sweat of his brow) ranks higher in Don’s mind than workin stiffs. The coming fiscal/tax debates will merely be the latest data point. It’s time for elites like you Oren to comment on the real challenges the nation faces. Hint, it ain’t your scrum with fellow elites. Krugman vs Cass is a silly, irrelevant sideshow. JD was right the first time when he actually blurted out the truth about Don. Then, he pathetically self-gelded, baring his true character. Good luck America.
There is an argument to be made that the Trump of 2025 is not the same as the Trump in 2015.
Yeah.. he's full on kgb...
> the $3,000 bicycle
Oren, I hate to break it to you, but that is a very entry-level “proper” bicycle. Most upper-middles who enjoy cycling have 2 or more bikes worth $8–10k each.
As always, a fantastic piece. Finger squarely on the pulse.
The Chinese could probably build bikes like that for under a thousand.
They do but they are considered low status to ride. Generally derided as “chinacarbon” compared to the legacy brands made in taiwan
So some people pay 10X for a "Gucci" machine.
https://treasury-coin.org/
The United States government should create a Treasury Coin — call it “T-coin” — based on the protocol behind Bitcoin. T-coin would be the first government-supported, anonymous, decentralized currency. First, a T-coin would generate trillions for the U.S. government via the magic of seigniorage. Second, the USG could encourage the use of T-coin by, for example, providing discounts to entities which pay their taxes with T-coin or requiring merchants to accept T-coins as payment.
Other than generating onetime revenue, what, exactly, would be the point of this? In light of the behavior of the ruling class over the last 10 years, I have no desire to make it any easier to adopt a "Digital Dollar" of any kind.
I don't have a problem with China trying to restructure global supply chains to their advantage. That is what they should be doing. So are is the Trump administration. May we win that struggle.
We could do it the Chinese way: Jointly build the supply chains. Win-win. The US neo-Cold War way requires TWO parallel supply chains: Lose-lose