Lei Gong @gonglei89
Mostly tweet about politics, econ, tech, and China. San Jose Joined March 2012-
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I am as many who follow me know very big on MMT but one of its genuinely huge blindspots is the interaction between sovereign finance and global currency. I do not think MMT can work well if countries don’t have capital controls and fixed or at least regulated currency exchange.
I am as many who follow me know very big on MMT but one of its genuinely huge blindspots is the interaction between sovereign finance and global currency. I do not think MMT can work well if countries don’t have capital controls and fixed or at least regulated currency exchange.
Decades of not giving rocket science graduates real R&D jobs so that they can develop their technological knowledge and skills catching up now.
Decades of not giving rocket science graduates real R&D jobs so that they can develop their technological knowledge and skills catching up now.
…look if you think the Israel Gaza stuff is hypocritical for the US you should just say it rather than falsely blame China for portraying something that is intrinsically self evident by the US’s own choice of actions. Blaming China isn’t helping the US deal with its problems.
…look if you think the Israel Gaza stuff is hypocritical for the US you should just say it rather than falsely blame China for portraying something that is intrinsically self evident by the US’s own choice of actions. Blaming China isn’t helping the US deal with its problems.
I think it might be more decoherence than incoherence though.
I think it might be more decoherence than incoherence though.
Just a reminder that thocpodcast dude is actually a terrible human being IRL. Hard to take someone’s image of decency seriously when they openly demean their wife in public consistently, behind her back.
Just a reminder that thocpodcast dude is actually a terrible human being IRL. Hard to take someone’s image of decency seriously when they openly demean their wife in public consistently, behind her back.
Always obsession with singular successes rather than broader collective social outcomes.
In other words using simplification as the test for the merit of an idea is actually not…a good idea.
In other words using simplification as the test for the merit of an idea is actually not…a good idea.
It’s concern trolling tbh.
It’s concern trolling tbh.
Pro👏🏻duc👏🏻tion👏🏻Sys👏🏻tems👏🏻
Maybe seeing this stuff as “divinations” is the problem 😏
Btw the principles behind the ideas behind this strategy are still very much in effect.
This, not China, is the real problem.
This, not China, is the real problem. https://t.co/bxyNeRShIm
I have no patience for the green tech “overcapacity” argument because those pushing it seem to think we still have time to haggle over these things but the haggling side let the clock on climate action run for *50 years*. Thar clock has been run out now. *We are out of time*.
People should ask what people who work in the semiconductor industry think of the book, not what other people who come from similar non-technical knowledge domains think of the book. This is a persistent problem in policy and finance discourse.
*Almost* makes me want to dive back into academia.
This chart was shared to make a point about TFR, but it actually explains a LOT more. If you wonder why everyone feels squeezed and unhappy about the economy, just look at that disposable income to essential cost ratio. This is what an economy with no consumer surplus looks like.
This chart was shared to make a point about TFR, but it actually explains a LOT more. If you wonder why everyone feels squeezed and unhappy about the economy, just look at that disposable income to essential cost ratio. This is what an economy with no consumer surplus looks like.
Frank Newman full blooded commie, confirmed.
David Fishman @pretentiouswhat
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22K Followers 144 Following Observateur au sens strict du terme, Défense & Sécurité, #China@gonglei89 Yeah, looking at numbers alone is silly. Spent 2 hours in traffic going home from airport (45m on Sydney public transit for the same distance to). PTO is laughable. Child care, college, healthcare without priv insurance—all unaffordable. Parks, public services a mess. Gun crime.
@gonglei89 My absolute favorite part of The Wandering Earth was when a large group of people working together solved a problem that an American movie would have solved by a singular white hero's gun.
I’ve found that ‘elite incoherence’ has a great deal of explanatory power when it comes to the crises of the last decades.
One thing that's becoming clear from how the protests are being handled is that, contrary to what undergrads and many faculty believe, the liberal arts college is not at the core of the university anymore. The modern university is being shown to be an incoherent institution.
One of the coolest graphs I’ve seen showing what materials go into China’s high-speed rail: • 133 million tons of steel • 561 million tons of cement
@gonglei89 Appropriate policies would have to improve parental leave, co-responsibility of fathers, reduce working hours and facilitate re-entry into the labor market, highly affordable childcare and housing. Protection network for single-parent families & against unemployment and poverty
@gonglei89 I.e.: make things easier for women who would like to have two children AND a career, not keep more wives at home and have four children by lowering taxes on the husband. 🤦♀️
@nihaarsinha @gonglei89 @cchukudebelu What matters is what you can buy with your income and how much it covers you from the risks. This graph shows your mistake regarding a type of good, but it can be extended to education, retirement, energy, all kinds of public goods such as transportation and civil security...
ICYMI I try and explain in this article that the easiest way to understand money is not as a token or a good, but as the unit of an accounting system that tracks credit relationships in the economy All comments and thoughts are appreciated fresheconomicthinking.com/p/money-is-not…
The best way to compete with China is maximizing pressures to innovate domestically and forcing companies to give up rent seeking behaviors. No amount of trade restrictions will stop China from innovating. We need to actually take risks and make bold decisions to make progress
nypd is doing a tiananmen style crackdown in uptown and midtown while an NBA playoff game is happening like 500 meters away
@Tyeankk467 @gonglei89 They should work harder to make those prices competitive then
@gonglei89 Economist should learn about the concept of roundaboutness. Man, western economists have closed mind, i mean roundaboutness is austrian economics concept but really appreciated by chinese marxist. Same with hayek triangle. Example : mdpi.com/2071-1050/14/9…
Good morning Shenyang. & goodnight, Shenyang. Had planned not to book a hotel for this morning/night but fucked up. & it's a glorious fuck up. Had a decent amount of sleep on our 3h train. But it *was* a 3h train.
🔔Link to our new open access paper: academic.oup.com/ser/advance-ar…
The polycrisis is prefigured in Arrighi’s theory of hegemonic transition. Systemic cycles of accumulation culminate in chaos as conflict escalates & new & old rules compete. Our new open access paper links the accumulation process & chaos using a logistic map. 🧶 @GGalanis82
From this observation 👇, you could extrapolate (sry if this is the. wrong word) that an accessible economic surplus is the bigges driving factor for having childrens and so does the reverse where the lack of it become a major inhibitor.
This chart was shared to make a point about TFR, but it actually explains a LOT more. If you wonder why everyone feels squeezed and unhappy about the economy, just look at that disposable income to essential cost ratio. This is what an economy with no consumer surplus looks like.
@RajaKorman @nicholasmairone @stevehouf I am astonished that this (common sense and IMO correct) view is such a minority at the moment
@nicholasmairone @stevehouf A currency crisis is when your 2023 NGDP number was c. 450 bps percentage points above your 10 year, your core inflation is lower than the US, locals own more than 90% of all outstanding debt and you’re the world’s largest external creditor.
@Marxistcham @gonglei89 Some might even say it’s unprecedented ecological civilizational challenge?
Why are birth rates falling? It’s obvious.
This chart was shared to make a point about TFR, but it actually explains a LOT more. If you wonder why everyone feels squeezed and unhappy about the economy, just look at that disposable income to essential cost ratio. This is what an economy with no consumer surplus looks like.