by the Richmond Fed, which states optimal to move less productive workers out of high-productivity hubs and give them UBI of 17,000$ rather than investing money into peryphery project in order to reduce growing income gap
the authors note how CNR or Cognitive non-routine workers are more productive while clustered together so instead of trying to lure them away from hubs where they would become inevitably less productive is better to lure away non CNR from hubs with a subsidy.
This is an economic thought experiment, in a political void, nonetheless there is a clear insight in how to spend development money in the periphery, do not try to create works, just give money away.
adding a data point for the top 400 make the curve collapse in 2018, it is a graphic trick but also substantial
they have been fighting on it for days, looks like national accounting is complex and prone to interpretation though sometimes you see economists meddling up waters in this politically charge issue
a study argues that 60% of income inequality rise in recent years can be explained with smart professionals being rewarded in stocks rather than cash, so productivity gains of fast growing companies would accrue to this new kind of “human capitalists” and taken away from the high-skilled labor share, which indeed has been decresing over time
From workers to capitalists in less than two generations: Chinese urban elite transformation between 1988 and 2013
where it appears the PCC has a 1% wealth problem as much as the USA, i.e. if you join the party do not expect to do btter than your non-party peers unless you soar to the very very top
China will lose a lot of workers under any scenrio, will chinese production emigrate to africa ?
Some tech are deflationary and at every bubble burst interest rates go lower
where it also shows that exponential does not goes well with natural phenomena