Btw I believe we have a mostly wrong framing of what could be done in Europe. Italy's Leonardo supercomputer datacenter alone plus Swiss National Supercomputing Centre has more than enough compute to train a very large LLM. It's not something impossible, also there is not magic recipe: it's just scaling, every smart team with the GPUs is doing it. People that fatally believe it is not something within reach are wrong.

Six famous economists — @JosephEStiglitz , @PikettyWIL , @jasonhickel among them — published a manifesto in the @guardian last week: "growth is a doomed strategy." They say they've done the maths. I checked the maths. The claim that growth failed the poor is contradicted by the most uncontroversial dataset in economics: extreme poverty fell from 44% of humanity in 1981 to under 10% today — during the very decades they call a failure. China alone lifted 800 million people, not with a UN roadmap, but with growth. The "92% of excess emissions" statistic? It's one of the authors citing his own paper, without saying so — and it's not a measurement, it's a moral allocation dressed up as data. The policy toolkit — "public control of strategic assets," "credit guidance" — has a track record: Soviet collectivization, the Great Leap Forward, Venezuela, and Sri Lanka's 2021 fertilizer ban, which starved the poor it claimed to serve within eighteen months. What worries me most: degrowth is being marketed to young people who feel locked out — telling them their stagnation is virtue. It's a swindle. The young aren't victims of too much growth. They are the first victims of its absence. Growth is the only anti-poverty program that has ever worked.

No billionaire actually built a billion dollar company through hard work. Apple’s cofounder said the garage story is a myth. Bezos got a $300k investment from his parents. Google’s founders were Stanford grads with access to venture capital. Stop promoting the bootstrap ideology.

If I were to move form Austria, I would need to pay a 27% exit tax (as it I sold all my assets before moving) If I had to live from Switzerland, I’d pay 0 For the US - also 0 for profits up to $910,000 It really doesn’t pay to be active and become rich in the EU (unless you are born rich ofc, we love those guys here)

I don't know what Piketty, Stiglitz, and co. are smoking. Global poverty rates have never been lower. Progress on basic global health and wellbeing measures has been amazing over the past few decades. "End of the road"?!? Come again!?! theguardian.com/commentisfre…

But wouldn't giving pensions to women under 65 again increase the purchasing power in the economy? Evidence also shows that many older people denied state pension require welfare benefits in any case.

Folks, there is no debate. EU standard of living relative to US has been the same for decades. That's what PPP measures. It would be good for @lugaricano and his coauthors to be clear about this. If you want high productivity growth, you should make an argument why it matters over and beyond consumer surplus. Punto final.

The Australian government unilaterally deciding to confiscate 47% of the capital gains of every business person in the country has radicalised me, yes x.com/MarkDiStef/status/2059…

i mean yeah we’re probably in another great recession based on all indicators of the economy and consumer sentiment

How private equity gutted local malls: Joann Fabrics, Red Lobster, Claire's, and more.

Wes Streeting has this morning set out his tax plans - specifically bringing capital gains tax into line with income tax He says that the current system is unfair because it penalises work Higher or additional rate taxpayers will pay 24% on gains in the current financial year. Streeting said that the rates should mirror income tax bands - so 40% for higher rate taxpayers and 45% for additional rate taxpayers He says that the approach could raise £12billion a year Streeting said: “A member of my family is a cleaner in Lancashire. She pays a higher tax rate on her salary than her landlord pays for the growing value of the home she lives in. She slogs her guts out, he puts in far less effort, yet the state rewards him more than her. And we wonder why people are angry. “The system is penalising work. It’s not fair and it’s bad for our economy. We need a wealth tax that works. A pound made from simply owning assets should not be taxed less than a pound made from a hard day's work. We can do it in a way that is pro-growth, pro-entrepreneur and pro-work.”