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Being innocent doesn't justify lack of opportunity 😔😔
The latest version counts phone and internet, but that wouldn't even make sense to economists in 1963. The bigger question is who makes the call about what counts and what doesn't?
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Put a bunch of economists in a room and they can argue about anything, but in the '90s they all agreed to update the poverty measure to include more than just the grocery bill.
It finally happened. That moment in an absent-minded professor's life when I walked into a packed classroom of hundreds of students, and started teaching the wrong lecture. They had all done the reading, so must have known. No-one interrupted me, until a few minutes in.
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Look for choices that still work when the future surprises you.
Economists call that robustness.
Seems useful for picking members for Trump’s AI commission.
Scott Bessent sounds like a parent counting to 3 who’s been stuck at “2 and a half” since 2025.
Another note for silent Kevin, you're gonna have to speak up whether you like it or not. Trillions of dollars are on the move.
Another week, another avalanche of economic news with @svaneksmith
-- The Fed raised rates
-- Inflation eats affordability
-- U.S.-Canada tensions keep rising
-- Poverty is improving (depending on your measure)
-- Trump's $5000 checks
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Think of the current job market like a bathtub.
Right now the water level (unemployment) is low, but the flows are tiny. Almost no one's getting fired. Almost no one's getting hired.
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