I fail to see anything resembling significant redistribution. Real wage growth is now negative and the 35% of Americans who don’t
own homes are facing exploding costs. No amount of credits or R&D or green energy is going to fix these structural issues which the administration chooses to ignore.
Been greatly enjoying the newsletter but if I can add one suggestion, cover antitrust and monopolies. For example how hedgefunds use rollups to reduce competition while maintaining the pretence of competition. Rather surprisingly this is a bipartition issue!
Matt Stoller, whom I assume you're already familiar with has written extensively on this.
"Oil produces the most revenue for Texas, which earned $16.3 billion from oil in 2019, an amount that made up 7% of the state’s revenue. Oil revenues accounted for 70% of state revenues ($1.1 billion) in Alaska in 2019, 52% of state revenues ($2.2 billion) in Wyoming in 2017, and 45% of the revenues ($1.6 billion) in North Dakota in 2017." H.C. Richardson
Where are the regional innovation hubs going? What Repubs voted for/against?
Interesting that one of the qualities required in a CEO is imagination. The previous paradigm shifts showed imagination. Perhaps something will happen to improve the research budget?? But like you say - the direction is the right one. But what would I know? I'm writing from New Zealand.
How come there's an apparent tendency in the US to cut research spending? Who's interest is that in? (Nobody's, it seems to me)
I fail to see anything resembling significant redistribution. Real wage growth is now negative and the 35% of Americans who don’t
own homes are facing exploding costs. No amount of credits or R&D or green energy is going to fix these structural issues which the administration chooses to ignore.
In 10 years the budget will consist of:
1. Interest payments
2. Medicare/Medicaid
3. Social Security
4. Maybe the courts or something very cheap
This will be Bidenism. It doesn’t matter if your vision would work or not, it can’t be implemented for more than a year or two.
Bringing back welfare dependency seems like a bad idea.
“Bidenomics” to the extent that it exists seems to be deficit spending with vague promises of “the rich” paying. Hardly revolutionary.
On a less snarky note, is there a clear relationship between govt R&D spend and growth? I recall the verdict being mixed.
Been greatly enjoying the newsletter but if I can add one suggestion, cover antitrust and monopolies. For example how hedgefunds use rollups to reduce competition while maintaining the pretence of competition. Rather surprisingly this is a bipartition issue!
Matt Stoller, whom I assume you're already familiar with has written extensively on this.
"Oil produces the most revenue for Texas, which earned $16.3 billion from oil in 2019, an amount that made up 7% of the state’s revenue. Oil revenues accounted for 70% of state revenues ($1.1 billion) in Alaska in 2019, 52% of state revenues ($2.2 billion) in Wyoming in 2017, and 45% of the revenues ($1.6 billion) in North Dakota in 2017." H.C. Richardson
Where are the regional innovation hubs going? What Repubs voted for/against?
Interesting that one of the qualities required in a CEO is imagination. The previous paradigm shifts showed imagination. Perhaps something will happen to improve the research budget?? But like you say - the direction is the right one. But what would I know? I'm writing from New Zealand.
Could be that Biden is really just enacting the Obama era vision with the Trump years being a very significant speed bump.