1. My Weekly Reading for May 18, 2025
David Henderson discusses various readings, including topics on free speech, job reallocation due to trade, and the impact of standout firms on national productivity.
2. Deindustrialization: Causes and Consequences
Paul Krugman discusses the unrealistic nostalgia for past manufacturing jobs and critiques the narrative linking deindustrialization to trade deficits and outsourcing.
3. So why *did* U.S. wages stagnate for 20 years?
An argument that U.S. wage stagnation from 1973 to 1994 was influenced by various economic factors, with globalization's impact being more complex than commonly perceived.
4. GDP on a Lower Trajectory – Survey of Professional Forecasters
An argument that GDP forecasts indicate a downward revision, reflecting a consensus among various economic surveys and projections for future growth.
5. Cardwell’s Cage and How to Break Free
Chelsea Follett explores Cardwell's Law and the cyclical nature of innovation in cities, examining historical examples and the conditions necessary for sustained creativity.
6. Saturday links
Scott Cunningham shares personal updates, discusses upcoming travels, and provides links to various topics, including productivity research and technology developments.
7. Tariffs: Now What?
Paul Krugman discusses the ongoing impact of tariffs, particularly those imposed during the Trump administration, and their implications for trade policy.
8. Schedule for Week of May 18, 2025
Bill McBride discusses the key economic reports and data releases scheduled for the week of May 18, 2025, focusing on housing and employment statistics.
9. Emergent Ventures India, 10th cohort
Tyler Cowen highlights the achievements and projects of the 10th cohort of Emergent Ventures India, showcasing innovative ideas from young entrepreneurs and researchers.
10. May 16th COVID Update: Weekly COVID Deaths Increased Slightly
Bill McBride discusses the slight increase in weekly COVID deaths and changes in hospital reporting requirements.
11. The 145% tariff already did its damage
An argument that the brief imposition of a 145% tariff on Chinese imports caused significant and lasting economic damage to affected companies and individuals.
12. Stablecoins and monetary policy
An argument that stablecoins do not significantly threaten monetary policy, as the Federal Reserve retains control over the monetary base and can adjust supply and demand effectively.
13. Economic Sentiment Continues to Fall as Inflation Expectations Climb Further
Menzie Chinn discusses declining economic sentiment and rising inflation expectations based on various confidence indices and survey data.
14. How Tariffs Built the World’s Worst Car that Only the Rich Could Have
An argument that tariffs hinder innovation and competition, exemplified by the poorly designed Hindustan Ambassador car, illustrating the long-term negative effects of protectionist policies.
15. The Import-So-That-They-Can-Export Firms
The post discusses the role of small firms in international trade, highlighting their dual function as major importers and exporters within global supply chains.
16. Fewer Rules, Better People: Lam on Legalism’s Moral Cost
An argument that excessive adherence to rules undermines moral development and societal flourishing, advocating for discretion and understanding the purpose behind regulations.
17. The Trade War Isn’t Over
An argument that recent tariff reductions do not signify the end of the trade war, as significant tariffs remain and will adversely affect the economy and lower-income families.
18. Housing Starts Increased to 1.361 million Annual Rate in April
Housing starts increased in April, with multi-family units rising, while single-family starts declined year-over-year and building permits decreased from March levels.
19. 2 officials fired by Trump return to court to challenge his power
Two Democratic board members challenge President Trump's authority to fire them, referencing federal law and Supreme Court precedent in their court case.
20. Why UnitedHealth's terrible year is dragging down the Dow
Maria Aspan discusses how UnitedHealth's significant stock decline is negatively impacting the Dow Jones Industrial Average.
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