I woke up early this morning — though perhaps not as early as Bob Hall & Mike Woodford—so that I could explain to the historical context of their Nobel, the work that won the prize, their contributions to the world, and who they are.
www.youtube.com/watch?v=hpT6...
(fixed link)

I woke up early this morning — though perhaps not as early as Bob Hall & Mike Woodford—so that I could explain to the historical context of their Nobel, the work that won the prize, their contributions to the world, and who they are.
www.youtube.com/watch?v=hpT6...

The best leaders have been forced to pick the best of 2 evils. That's when their priorities show.⁣
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Who pays the price? When? And how much of the damage can be undone? https://newsletter.platypuseconomics.com/p/my-libertarian-friends-were-right

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It seems like every oil announcement we're getting these days is a big nothing burger. https://newsletter.platypuseconomics.com/p/the-economic-theory-of-war-is-dont

No dramas when owners and workers both win when the pie grows, but that’s less and less the case. https://tinyurl.com/profisin10-09

This war is a bit like poker, and if everyone had their cards face up, there'd be a lot less drama. https://newsletter.platypuseconomics.com/p/the-economic-theory-of-war-is-dont

If a fight is going to end in an apology, just skip to the apology.⁣
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That's called efficient bargaining. https://youtu.be/KhGjTdS41eg

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When a politician promises to make something cheaper, ask "the second question". Where's the extra supply coming from? ⁣
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This diesel executive order doesn't make any sense https://newsletter.platypuseconomics.com/p/america-doesnt-have-a-shortage-of

Trump's plan to lower diesel prices:⁣
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Take diesel from farmers.⁣
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Give it to truckers.⁣
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Make farmers pay more.⁣
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Declare victory in the midterms https://newsletter.platypuseconomics.com/p/america-doesnt-have-a-shortage-of

My favorite part of Trump's new diesel order?⁣
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It says truckers can use red-dye diesel that's earmarked for farmers, then it tells the government to make sure farmers have enough diesel.⁣
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Good luck with that. You can't make this stuff up. https://youtu.be/AqFtFkdhUo0

Platypus economics is growing, so we're hiring. #JOLTS

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Until a few days ago, most people had never heard of red-dyed diesel. It's tax-free diesel for farm and off-road equipment. ⁣
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Trump said truckers can use it now and defer their standard tax bill until 2027 (after the midterms 🤔) https://www.youtube.com/watch?v=-23NcxlJWW8

The optimal interest rate right now is somewhere between 3.5% and 4.5%. Warsh has us right there⁣
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That's good enough. When you're already close to the top, small adjustments don't matter.⁣
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Trump's fantasy of 1% is way off target. https://tinyurl.com/interest09-26

The US has lost 21,000 manufacturing jobs since Trump took office. But why is bringing them back the goal? Why are we trying to push people into lower paying work? https://newsletter.platypuseconomics.com/p/manufacturing-is-what-rich-people