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Misinformation: Strategic Sharing, Homophily, And Endogenous Echo Chambers

posted on 27 August 2021 by Daron Acemoglu -- this post authored by Daron Acemoglu, Asuman Ozdaglar, and James Siderius, Vox eu.orgMisinformation spreads rapidly on social media platforms. This column uses a model of online content-sharing to show that a social media platform that wishes to maximise content engagement will propagate extreme articles amongst its most extremist users. ‘Filter bubbles’ prevent the content from spreading beyond its extremist demographic, creating ‘echo...

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Understated Inflation Produces ‘Unreal’ GDP Growth Double Real Growth

posted on 26 August 2021 Written by Rick Davis, Consumer Metrics Institute BEA Revises Second Quarter 2021 GDP Growth Upward to 6.56%In their second estimate of the US GDP for the second quarter of 2021, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +6.56% annual rate, up 0.06 percentage points (pp) from their previous estimate and up 0.28pp from the prior quarter.Please share this article - Go to very top of page, right hand side, for social...

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Fiscal Austerity Intensifies The Increase In Inequality After Pandemics

posted on 25 August 2021 from Voxeu.org -- this post authored by Davide Furceri, Prakash Loungani, Jonathan D. Ostry, and Pietro Pizzuto In the aftermath of past pandemics, fiscal policy played an important role in reducing or amplifying income inequality. This column predicts the likely distributional effects of Covid-19 by analysing evidence from five previous outbreaks (SARS, H1N1, MERS, Ebola, and Zika). It finds that severe austerity measures were associated with inequality...

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Buy Businesses, Not Stocks

posted on 22 August 2021 by John Mauldin, Thoughts from the Frontline I write this letter on my way home from Steamboat Springs, Colorado, where I spoke to the fascinating “GoBundance" group of mostly young, successful, enthusiastic entrepreneurs.Please share this article - Go to very top of page, right hand side, for social media buttons.Before that I was in Grand Lake Stream, Maine, for the Camp Kotok economics/fishing retreat. I’ll have some details for you later. Today we will...

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The Cost Of Populism: Evidence From History

posted on 21 August 2021 from Voxeu.org -- this post authored by Manuel Funke, Moritz Schularick, and Christoph TrebeschThe rise of populism in the past two decades has motivated much work on its drivers, but less is known about its economic and political consequences.Please share this article - Go to very top of page, right hand side, for social media buttons. This column uses a comprehensive cross-country database on populism dating back to 1900 to offer a historical, long-run...

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What Makes A Disease Eradicable?

posted on 18 August 2021 Written by Econintersect Guest -- this post authored by Sophie Ochmann, Our World in Data Before answering this question, it is important to understand what exactly eradication entails, especially in contrast to the elimination of a disease. While the eradication of a disease is permanent and global, the elimination of a disease is an achievement restricted to a specific geographic area such as a country or continent. Please share this article - Go to...

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The Data Shows The Fed Is Behind The Surging Wealth Gap

posted on 18 August 2021 by Lance Roberts, Clarity Financial The data shows the Fed is behind the surging wealth gap. Such is despite protestations “Quantitative Easing" and “Zero Interest Rate Policy" do not affect the financial markets.Such was noted previously by Minneapolis Fed President Neel Kashkari:“QE conspiracists can say this is all about balance sheet growth. Someone explain how swapping one short-term risk-free instrument (reserves) for another short-term risk-free...

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Re-Evaluating The Sources Of The Recent Productivity Slowdown

posted on 16 August 2021 from Voxeu.org -- this post authored by Ian Goldin, Pantelis Koutroumpis, François Lafond, and Julian WinklerLabour productivity is a key determinant in improving living standards. But in recent years, productivity has stagnated, if not declined, in many countries around the world. This column re-evaluates the various reasons as to why this might be, applying three criteria to the existing explanations for the slowdown. It finds that the slowdown in...

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Ubiquity, Complexity, And Sandpiles

posted on 15 August 2021 by John Mauldin, Thoughts from the Frontline "How did you go bankrupt?" "Two ways. Gradually, then suddenly." . ― Ernest Hemingway, The Sun Also Rises Please share this article - Go to very top of page, right hand side, for social media buttons. Change happens quickly and, often, unpredictably. And as we will see, the unpredictable part is actually a mathematical principle. As in the Hemingway quote above, not just bankruptcy...

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