Shashank Nayak 🏗
@ShazCoder
Software Engineer. Interested in Economic History, Finance and Programming.
Was dir gefallen könnte
Economic growth and development becomes much more cooler and awe inspiring when you think of it less as "line goes up" and more as "increasing productive power of the species".
Congratulations to Philippe Aghion, Peter Howitt and Joel Mokyr for a well-deserved Nobel Prize. It was nice to see the US Census Bureau's Business Dynamic Statistics featured as motivating evidence in the scientific writeup: nobelprize.org/uploads/2025/1…
My short reaction for @WorksInProgMag on why Joel Mokyr’s economics Nobel win today is such a fantastic, fantastic day for history. worksinprogress.news/p/what-makes-j…
Finally,someone with Sherlock-like genius managed to deconstruct my facade and finally expose my true identity.
Seems like a CCP account with India name. Some agenda against Indian battery giants.
I do think this is essentially right. Europe shifted from the pre-modern to the modern economic growth regime in the late 18th century and early 19th century, when the intellectual/ideological environment changed to one that favored institutional and technological developments…
The model is build on firm micro foundations, and calibrated on data from the late-1970s. They evaluate the Reagan R&D tax incentive of 1981 with it, and show that it led to a dramatic acceleration in US innovation. And it should’ve been twice as large! 5/
That the guy who has accomplished the seemingly impossible was admitted to Harvard under pressure from the development office should cause us, myself included, to lower our priors on strict meritocracy nytimes.com/2025/10/09/us/…
China and Trump both want to get to yes. China won’t find a better US President to do business w/ in the foreseeable future. President Trump sees glory in a deal struck with China and wants to lock in the negotiated gains. Incentives are well aligned. A bit of theater is normal.
It bears remembering that when it comes to China, Trump himself is an ideological moderate. The whole US govt is hawkish on China now. In fact Trump may be more moderate than the China hawks from the Biden govt. Unlike the Dems, Trump has wiggle room. China knows that too.
Many people are sceptical of Mokyr's idealist take on the Industrial Revolution, but even if you are suspicious, The Enlightened Economy is still a tremendous book. I think this review in JEL gives the correct flavour. It says the comprehensiveness is a curse, but from that you…
Wow! I'm over the moon at Joel Mokyr getting the Economics Nobel. It's not only recognition of the primacy of innovation to the history of economic growth, but also a recognition of the old-school methods.
Delighted with the choice of Joel Mokyr, Philippe Aghion and Peter Howitt for the Econ Nobel. Mokyr reconstructed the history of technological innovation. Aghion and Howitt elaborated on the mechanism. Schumpeter would be happy.
Allen: the Industrial Revolution was the result of Britain’s uniquely high wages and cheap coal, which made labor-saving innovations economically worthwhile. Mokyr:
The most popular mainstream music & movies have been garbage for as long as I can remember but the difference from then (90s and most of the 2000s) and now is that there used to be no social pressure to go along with market-driven hype and pretending corporate slop is great art.
Debt is "real money"; if the debt doesn't get paid there is a debt overhang in the overall economy, and people will have no choice but to contract their spending which leads to recession In contrast, stocks are just paper wealth (with some slight wealth effects)
The combined amount of debt in PE and real estate is really insane right now, and the fact that PE / real estate are taking on more debt to do AI buildout is bonkers It's like some degenerate gambler trying to oneshot his way out of a losing streak, only gonna end one way
The combined amount of debt in PE and real estate is really insane right now, and the fact that PE / real estate are taking on more debt to do AI buildout is bonkers It's like some degenerate gambler trying to oneshot his way out of a losing streak, only gonna end one way
The AI bubble is not great, but what sends the economy into a deep recession is going to be the implosion of (highly leveraged, credit-fueled) private equity (PE) and real estate investments
Yeah. I agree.
Wow look at me go
Daily Mail UK released photos of Katy Perry and former Canadian Prime Minister Justin Trudeau kissing on Katy’s yacht in California.
Joel winning is a big day for economic history fans!
BREAKING NEWS The Royal Swedish Academy of Sciences has decided to award the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr, Philippe Aghion and Peter Howitt “for having explained innovation-driven economic growth” with one half to Mokyr…
In general to be a developed country, you need to have certain economic policies in place. You don't need to have a British-style political system with competing political parties that run politicians in popular vote elections. A system that is often called "liberal democracy."…
China is doing better than ok. Shanghai and Shenzhen are cities of 20-25 million people that are now among the richest places in the world. And China is 1.4 billion people, which means that MOST of the developed world is not a liberal democracy.
Some personal news: I've left @WSJ after 11 years. I've had a blast covering central banks, markets, finance and aviation, and meeting some of the most amazing people in the business. The other bit of news: I'm joining @Breakingviews, this time with a focus on global economics.
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