In the heart of the picturesque English countryside, nestled between rolling hills and lush green meadows, lay a quaint village named Redbrook. This idyllic village was known for its charming cottages, cobblestone streets, and a tranquility that was a balm for weary souls. Everything was as it had always been, and as far as most people in Redbrook were concerned, that was just fine. But now beneath its serene exterior, an undercurrent of change stirred, a new movement was quietly gaining momentum: the YIMBYs.
Read MoreI hope you’re enjoying the 2023 Chat-GPT advent calendar even if it is quite a deviation from the content normally posted here. Fret not, I will pepper the flow of advent stories with some economics, and a lookahead to markets next year.
I really enjoyed @EconTalker's conversation with @tylercowen, the founder of the most widely read economics blog out there, reminding us that there is still value in reading the grand old masters of economics. I enjoyed re-reading most of Keynes’ the General Theory for my essay on fiscal policy, and it was also fun to remind myself about Milton Friedman’s permanent-income-hypothesis for the essay on the life cycle hypothesis. But in reality, I fall foul of Tyler’s accusation of an economist who is probably not as well acquainted with the classics as I should be. I have read very little of Smith for example, I find Hayek very difficult to read, and as an economist interested in demographics, I also regret to say that I have only read few parts of Malthus in the primary versions. Fortunately for me and others, Tyler has made his new his new book—"GOAT" of economics—freely available, and I am looking forward to dig in over Christmas.
Read MoreIn the heart of the English countryside, a quiet and open valley stretched between rolling hills. A tranquil river meandered through the landscape, obscured by morning mist. Roald stood serenely, contemplating the beauty of the vista. To the locals, the people who had walked and lived around these hills for centuries, the valley was a sanctuary of beauty, a testament to the unspoiled charm of rural life. But that harmony was now disturbed by rumours about a proposed housing development. Only 50 new houses, the developer had said, cheque in hand to the local council. To many local politicians, perhaps even a majority, it was progress; but to the locals, Roald knew it was an abomination.
Read MoreRobo-Bob pointed his finger at Roberta.
"Roberta, you just don't get it, do you? We need to wire these CO2 scrubbers in series. It's the most efficient way to scrub the Martian air!"
"Robo-Bob, you're as rusty as a 404 error message! Series wiring? Seriously? We should go for parallel wiring to ensure redundancy. If one fails, the others can still save the day."
Roberta raised her hand to indicate her disapproval of Robo-Bob's suggestion. But Robo-Bob continued.
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