Matthew M. (@EconInOneLesson) header
Matthew M. (@EconInOneLesson) profile picture

Read Economics In One Lesson. It's free:https://nitter.gq/t.co/buGVoYtVWy

NC, USA
Joined August 2010
Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)Photo by Matthew M. (@EconInOneLesson)
All-In Summit: Bill Gurley (0:00) Bill Gurley takes the stage at the All-In Summit (1:29) Bill's Presentation: Searching for Feynman Links to additional resources mentioned in talk and used in research: p3.institute/searching_for_f… @bgurley
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Replying to @ssankar
🤖 Made with AI
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"In hindsight, that might have been a mistake." buff.ly/GssoAwD
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Why does nobody build starter homes anymore? Dodd-Frank made small mortgages unprofitable, and 3,600+ community banks—the ones that made those loans—have closed since 2010. Builders don't build what banks won't finance. @TimothyTerrell. #MisesU
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every data center story says it uses "as much power as 100,000 homes" like that's a scandal. an aluminum smelter pulls five times that and it's why airplanes are cheap. measuring industry in homes is how you train a country to believe building things is a crime
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Prices are critical information without an economy cannot function
As a young socialist, Hayek read Ludwig von Mises’ 1920 paper “Economic Calculation in the Socialist Commonwealth.” Mises showed that socialist central planning isn’t merely inefficient, it’s impossible. Without private property and genuine market prices, planners lack any rational way to allocate scarce resources or determine real costs and needs. Even Oskar Lange, a leading socialist in the calculation debate, effectively conceded the point. While he promoted “market socialism” with trial-and-error pricing by a central board, real-world socialist planners in Eastern Europe quietly relied on world capitalist market prices as a guide. Without external free-market price signals, pure socialism would be economically blind and coordination would collapse. Mises went further, arguing that interventionism, the “middle way” of government meddling, is inherently unstable. Each intervention creates problems that invite more interventions, eventually leading to full socialization. Price controls cause shortages, subsidies distort production, and the cycle continues until the economy is fully planned. The lesson is clear. Rational economics requires genuine market prices emerging from voluntary exchange and private property. Half-measures don’t stabilize the system. They accelerate the drift into central planning. The Austrian School understood this decades before the collapse of the Soviet bloc proved it in practice.
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Follow me for more tips and life advice.
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This whole experience has been a learing process for the Democrats
Virginia Democrats misspelled "Virginia" and "Senator" in their motion to delay the VA Supreme Court's ruling on gerrymandering today.
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15 million aliens were allowed to pour into the country in just four years under the previous administration. This is not immigration, it’s invasion. America must never return to open border policies.
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Only one chance in this lifetime… Like watching sunset at the beach from the most foreign seat in the cosmos, I couldn’t resist a cell phone video of Earthset. You can hear the shutter on the Nikon as @Astro_Christina is hammering away on 3-shot brackets and capturing those exceptional Earthset photos through the 400mm lens. @AstroVicGlover was in window 3 watching with @Astro_Jeremy next to him. I could barely see the Moon through the docking hatch window but the iPhone was the perfect size to catch the view…this is uncropped, uncut with 8x zoom which is quite comparable to the view of the human eye. Enjoy.
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True
population has grown ~9x in 200yrs, while poverty trends to 0 people act as though capitalism is a zero sum game, but it’s actually the only system that creates positive sum outcomes the average person today is far richer than most kings in days past
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Yes
Thank you, capitalism!
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The story behind the New York Times’ 1903 claim that human flight was between one and ten million years away is even worse than it looks. Once you understand the backstory, you realize that the New York Times story is not really about flight at all but about how elites and credentialed “experts” mistake their own failures for the boundaries of possibility. The New York Times did not dismiss the possibility of powered flight at random. There was a very specific reason behind it. At the time, America’s most prominent scientific authority, Smithsonian Secretary Samuel Langley, had been showered with large amounts of taxpayer funding to build an aircraft, the Langley Aerodrome. Despite all the money, institutional backing, and elite prestige, Langley and his team could not get it to fly, culminating in a series of very public failures, the last on December 8, 1903. So when the New York Times declared that flight was millions of years away, what it was really saying was that if the most credentialed and well-funded “experts” cannot do it, then it cannot be done. A mere nine days later, the elites’ proclamation of impossibility lay in ruins. Two totally unknown bicycle mechanics from Ohio achieved the first powered flight using improvised parts, a few hundred dollars of their own money, and sheer persistence. The story of flight is, at its core, a story of the triumph of American individualism over elite credentialism. The fact that it was the New York Times that inadvertently delivered the proof is the most fitting conclusion imaginable.
"Man won't fly for a million years" – NYT 1903
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To Save Time, CNN Will Now Run Retractions Simultaneously With News Stories buff.ly/qEWLcI1
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NEW: Finnish President says Europe can defend itself without the U.S. before saying 11 minutes later that he never said Europe could defend itself without the U.S. Alexander Stubb: "Can Europe defend itself? My answer is unequivocally yes... without the Americans." Journalist, moments later: "You said earlier that Europe can defend itself without the Americans..." Stubb: "Not exactly. That's not a quote."
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Still needs more capex
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Replying to @nypost
send the asteroid
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Matthew M. retweeted
The gerrymander in California is outrageous. Of their 52 congressional districts, 9 of them are Republican. That means 17 percent of their delegation is Republican when Republicans regularly win 40 percent of the vote in that state. How can this possibly be allowed?
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The new designs for the future EU banknotes are in, beautifully fitting the given assigned theme of "European culture". Which one is your favorite?
💶 Applications for the design contest for our future banknotes are now open! Are you a graphic designer residing in the EU? Submit your application by 12:00 CET on 18 August. Information about the application process can be found on our website ecb.europa.eu/ecb/jobsproc/t…
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