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 more information that's out there, the greater the returns to just being willing to sit down and apply yourself. Information isn't what's scarce; it's the willingness to do something with it.
Tyler CowenThe key questions will be: Are you good at working with intelligent machines or not? Are your skills a complement to the skills of the computer, or is the computer doing better without you? Worst of all, are you competing against the computer?
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 CowenPeople feel better because Donald Trump says all kinds of things no one else would say and we get certain tendencies out of our system. So if attacking immigrants, say, is a substitute for doing something worse, there's at least a scenario under which that's a better alternative than something else that might have happened.
Tyler Cowen