Category Archives: Uncategorized

What happens when we run out of investment opportunities?

Throughout the 19th and 20th Centuries, the world had far more investment opportunities than we had capital available to invest. With the population growing, there was always demand to borrow money to build more homes, offices, and stores. And with … Continue reading

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Conventional wisdom says the Fed can’t boost growth any more. I don’t believe it.

One of the big questions about the economy right now is whether monetary policy is a significant factor in the sluggish growth of the last five years. Lots of economists think that easy money was important for speeding the recovery … Continue reading

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The Pokémon Go Economy, Explained without a Silly Headline

In a recent Vox post I tried to combine a headline designed to troll my least favorite website — “Pokémon Go is everything that is wrong with late capitalism” — with a serious policy argument. Unfortunately, I think the silly headline overshadowed … Continue reading

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Fred Hirsch’s Social Limits to Growth

After my last post, reader Joe pointed out the parallels to Fred Hirsch’s classic book the Social Limits to Growth. I hadn’t read Hirsch’s book, but the similarity isn’t entirely a coincidence, since my argument relies heavily on the concept … Continue reading

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Some thoughts on the end of economic growth

Here are some thoughts on economic growth that aren’t yet coherent enough to be a Vox article… 1. Technological progress in a particular industry often has diminishing returns, and it’s possible to reach the point where it’s hard to imagine … Continue reading

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How to be better at PR

Most of my experience with PR people involves them cluttering my inbox with unwanted pitches. But yesterday I had a PR experience that was so positive that I thought it was worth sharing. In an ideal world, this is how … Continue reading

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Dorian Nakamoto: “I did not create, invent or otherwise work on Bitcoin”

Last month, an engineer named Dorian Nakamoto was identified by Newsweek as Satoshi Nakamoto, the creator of Bitcoin. Early Monday morning, Dorian issued his strongest statement yet denying the report. Here is his full statement: My name is Dorian Satoshi … Continue reading

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Why Satoshi Nakamoto worked so hard to hide his identity

We may now know who Satoshi Nakamoto, the creator of Bitcoin, is. According to Newsweek, he’s a reclusive 64-year old Japanese man who lives in Temple City, California. And Satoshi Nakamoto is his real name. (He has reportedly denied being … Continue reading

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The case against land value taxes

Alice and Bob were both born in 1957, and became friends after they both settled in Washington, DC. In 1986, Alice bought a 2-bedroom home in the up-and-coming Dupont Circle neighborhood. Bob thought owning a home sounded like a lot … Continue reading

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Here’s why Bitcoin-the-network needs Bitcoin-the-currency

This week I was making the argument on Twitter that it’s more helpful to think about Bitcoin as a new kind of payment network than a new kind of currency. Multiple people asked variants of the same question: if the … Continue reading

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