Robert Pauls

Thank you!

Thanks!

3rd, cyclical deviations of profit rates by sector (i.e., EPS) are the normal result of competition if A Smith is to be believed. So nothing going on here that can't be explained by market forces. Absent data that shows evidence of the causal mechanism they suggest, the argument isn't convincing.

Secondly, I don't understand why they trail the EPS data by 12 months. Yes, crude needs to be processed, but changes in crude spot market prices show up at the pump right away. The prices pass through the pipeline quicker than the crude.

I agree with you that not all competition is about prices or fought out through prices, but the N&B's data does not plausibly show that something other than market forces are at work here. For one thing, energy conflicts in fig 3 do not appear to regularly predict ROE deviations in favor of oil.

Also looks like half of the "energy conflicts" predict differential profits to fall according to their own chart 🤭

So Exxon starts wars because Nvidia's profit share is higher than theirs? To me all that paper shows is that conflicts in oil-producing regions cause oil prices to rise, which in turn causes the total mass of profit to be distributed more favorably towards oil companies. Econ101.

Merz‘ Lob für China geht in der Volksrepublik viral „Wir sind einfach nicht mehr leistungsfähig genug“, sagt der Kanzler nach seiner Rückkehr aus China der CDU in Hessen. Das greifen die Staatsmedien in einem Land gern auf, das selbst Dutzende Millione...

It's Chinese citizens who know best that "we need to work more and harder" is exactly the wrong conclusion for Merz to draw from his visit.
www.faz.net/aktuell/poli...

It was more meant as a joke than a serious comment. Xiaomi probably suffers from similar pressures as most consumer electronics development. As all hardware is becoming a platform for software, competition pushes you to push product first, fix issues later.

差不多-ing

Reformist LibCom

Thought it was brilliant.

"Würgegriff" und "Abhängigkeit" schieben das eigene Versagen China in die Schuhe. Das Verhältnis Deutschlands zu China ist frei gewählt, und kann auch von deutscher Seite wieder umgestaltet werden. Es erfordert allerdings eine Wirtschaftspolitik, die bei vielen Unternehmen auf Widerstand träfe.

Some would call that procrastination. I’d call that process.

Bürokratieabbau in Bayern: Das „Einfach-mal-machen-Gesetz“ der CSU In bayerischen Regionen soll probeweise das Landesrecht ausgesetzt werden. „Einfach-mal-machen-Gesetz“, nennt das die CSU.

Learning from China's Special Zones? Bavaria is introducing "model regions" where state law may be temporarily suspended to trial bureaucratic reforms with the aim to facilitate broader adaptation. 由点到面。

Die gegenwärtigen Debatten zur Industrie- und Verteidigungspolitik in Europa könnten noch einiges vom Ostasiatischen Developmental State lernen. Der Staat muss sich das Kapital gefügig machen, wenn das alles klappen soll.

Thanks, didn’t know these, I’ll check them out!

Thanks!

It’s been fantastic! Have you come across anything like it that you’d recommend? Can’t bring myself to sit through other shows.

Peak exploitation

Diese Abwehrgefechte sind eine Sache, aber wirtschaftspolitisch ist die SPD schwach aufgestellt. Es klafft eine Riesenlücke zwischen Unternehmensstrategien und volkswirtschaftlichem Gesamtinteresse. Klassisches sozialdemokratisches Thema, aber da wird nicht rangegangen.

ChatGPT is bullshit - Ethics and Information Technology Recently, there has been considerable interest in large language models: machine learning systems which produce human-like text and dialogue. Applications of these systems have been plagued by persist...

link.springer.com/article/10.1...

stop using AI to do your research. it hallucinates too often. if you want an answer to something, post something arrogant on the appropriate subreddit. something like: "this item performs 10% better than everything else. only idiots deny this." this will bait nerds into doing your research for you.

this is what 2 years of chatgpt does to your brain YouTube video by Angela Collier

Angela tells it like it is
@acollierastro.bsky.social
www.youtube.com/watch?v=7pqF...

Just departed there yesterday. Enjoy!

I'm just here to remind you to cancel your WSJ subscription.

I do wonder to what extent predation really is baked into the growth model, e.g. US oil companies don’t really seem to be interested in Venezuelan oil. There doesn’t seem to be an economic rationale nor systemic distributional consequences arising from such adventurism.

I had them. Can recommend.

newleftreview.org/issues/ii156...

A Chinese official exposed his boss. Now in Texas, he’s hunted by Beijing - with help from US tech Retired Chinese official Li Chuanliang fled to the U.S. seeking asylum, fearing persecution from the Chinese government.

1/Beijing is using an increasingly powerful tool to control and monitor its own officials: Surveillance technology, much of it originating in the U.S., an @apnews.com investigation has found.
Buckle up for a twisting ride through China's corruption crackdown...
apnews.com/article/whis...