If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.
Tyler CowenThe hours from 7 to 12 are your time to build for the future before the world descends on you.
Tyler CowenUnintended Consequences is full of substance, it is one of the must-read books of the year, and once I finish it I will be giving it a second read through right away.
Tyler CowenTo get a person's real opinion, ask what she thinks everyone else believes... If people truly hold a particular belief, they are more likely to think that others agree or have had similar experiences. [People] tend to assume that other people have had life histories at least somewhat similar to their own. When we talk about other people, we are often talking about ourselves, whether we know it ourselves.
Tyler Cowen