How do we do away with the the transfer and the cost of transferring money from an anxious, obese, and depressed generation to the wealthiest generation in the history of the planet, and that is baby boomers.
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Caballero, Hoshi, and Kashyap argue that evergreening was very bad for the Japanese economy, because it hoovered up scarce resources that better companies could have used to grow. With all of those crappy loans clogging up their books, Japanese banks couldn't lend to healthier companies. With big zombies like Daiei still able to employ large amounts of Japan's best managers, young scrappy upstarts were deprived of talent.
Noah Smith
They see degrowth as a grand project to unify and reinvigorate the political left — a Big Idea to fill the hole left by the collapse of communism in the 20th century. Each buzzword or stock phrase is a shout-out to a particular faction of the European left — 'decolonial' leftists angry about colonialism, climate activists, old-line socialists still angry about 'neoclassical economics', unionists who want job guarantees, social democrats who care about housing and education and welfare, and so on.
Noah Smith
The number of apps with significant usage is actually going down in the age of AI, even as people are releasing floods of new apps into the world. The deeper story here may be that demand for many of the things that generative AI produces might be a lot more inelastic than we thought. The things we really want a lot more of may not actually be the things that generative AI is yet equipped to provide.
Noah Smith