Adam Ozimek
@ModeledBehavior
Chief economist at @InnovateEconomy. Host of the EconTwitter Water Cooler, live on twitter spaces and downloadable here: http://anchor.fm/adam-ozimek
What should we do about high skilled immigration and why? This is the topic of my huge new report with @LettieriDC and @cojobrien: Exceptional by Design. Quick thread on why I think you should read this report. eig.org/exceptional-by…
Strong rebuttal of AI pessimism noahpinion.blog/p/stop-pretend…
A little odd to see no mention of immigration policy in the White House’s detailed AI Action Plan given how critical high-skilled immigration has been for American AI strength.
🚨 BREAKING: Detailed list of all 44 people in Meta's Superintelligence team. — 50% from China — 75% have PhDs, 70% Researchers — 40% from OpenAI, 20% DeepMind, 15% Scale — 20% L8+ level — 75% 1st gen immigrants Each of these people are likely getting paid $10-$100M/yr.
Fully exempting home sales from tax would represent yet another inframarginal transfer to older, richer Americans. Something close to 90% of homeowners are already exempt. The only people paying tax are worth around $6M on average. Some new @The_Budget_Lab calculations below:
The way that Teachout's terrible NYT op-ed was aggressively mocked, the disappearance of MMT, the YIMBY's understanding deeply the costs of regulation, tariffs losing all support on the left... It feels to me neoliberalism is gaining steam on the left
Labor leader objects to CEQA reforms that "undermine enviro standards that are important & that give us leverage." Um, if they were actually important, they wouldn't give you leverage. 1/2
School bus maker passing on tariff costs to higher prices on school buses. But its true, they might not pass it all through. Instead they're reducing quantity produced. I wonder what that will do to prices in the market???
New York is the kind of place where even the pols who are *relatively good* on housing supply still want to maintain their power ... to tax new local housing supply.
That’s not the point. I support new housing in my district - but we also negotiate deeper affordability, union jobs, & significant investments in Parks and other infrastructure to meet needs of growing communities. This Commission has decided that shouldn’t happen any more.
Maybe they are on blue sky or maybe its just quieter because republicans are in charge and the ones doing the spending, but you don't hear as much about MMT these days
"within the span of a few paragraphs, the op-ed veers from claiming large retailers charge prices that are unfairly low to blaming them for charging prices that are too high" marginalrevolution.com/marginalrevolu…
Lots of really bad economics in today’s NYT op-ed on grocery store competition. Take this passage for example:
San Jose, Austin, Raleigh, and Portland, ME. All got hammered by the China Shock. All bounced back. What made them, and others like them, different? @modeledbehavior breaks it down: agglomerations.substack.com/p/how-to-forti…
I think libs should cheer up about Colbert, maybe he will become the mythical liberal Rogan
How high will spending on data centers go?
Capex spend on AI data centres has reached 1.2% of US GDP. That has surpassed Dotcom era spend on telecom equipment (1%) but still trails railroad spend in 1880s (6%).
Listened to Sinica podcast with Tooze who is totally agog over China, even learning Chinese currently at HSK-2 Tooze seems totally incurious about the great puzzle: why have other countries not grown like China, what exactly has China done that other countries cannot imitate?