At the peak of the Gilded Age, the 4 largest fortunes were Rockefeller, Carnegie, Astor ( Baker/Frick/Field depending on the year). If they had spent their wealth, they could have bought 4% of all the goods and services produced in a given year in the US at that time.

Degrowth would make Europeans into "Europoors", by @Noahpinion Why Europe must grow. The "Degrowth" Illusion: Despite the headline claiming "we’ve done the maths," Noah Smith argues that the European degrowth movement relies on buzzwords and unmodeled assertions. Systematic reviews show that roughly 90% of degrowth literature consists of subjective opinions rather than rigorous quantitative analysis. Impoverishing the Social Model: While advocates promise expanded public services, economic history shows that no nation has ever sustained universal welfare or eliminated poverty without real GDP per capita growth. Forcing growth caps would turn the "Europoor" stereotype into a self-inflicted structural policy. A Strategic Blind Spot: Embracing degrowth would cripple Europe's industrial and technological capacity at the worst possible moment, just as it faces severe pressure from the Second China Shock and escalating geopolitical threats on its eastern border. noahpinion.blog/p/degrowth-w… cc @JavierAndresDom

But John does err elsewhere, as here, where he also implies that supply shocks alone cannot raise the price _level_: x.com/HooverInst/status/1990…

Vor 25 Jahren entschied Deutschland geordnet aus der #Atomenergie auszusteigen. Mit dem #EEG und dem #Emissionshandel legte #RotGruen so die Grundlage für die globale #Energiewende 11. Juni 2001: Atomkonsens unterschrieben - Bremen Eins share.google/KZDgTwuUjOkyNKp…