Essays
Politics, economics, culture, ideas, technology, and the world at large. At times, the personal.
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The Shape of Resilience in a Slowing World
The present global economy advances not through speed but through balance. Growth persists, yet it is uneven and carried by different engines in different regions. Prices cool in some blocs and firm in others. Policy hesitates. Markets lean toward a soft landing but hedge against disappointment. Beneath these mixed signals is a structure: tradable-goods disinflation, services stickiness, and financing conditions shaped by deficits and demographic shifts rather than short-term interest rates.
Trump’s Economic Plan: Low Rates, Broad Tariffs, and Top-Heavy Tax Cuts
The plan combines three main elements. Interest rates are kept low. Tariffs are imposed broadly. Tax cuts are concentrated at the top. These policies interact in predictable ways. They ease federal debt service, raise the price of traded goods, and shift after-tax gains toward higher-income households. Each element reinforces the others. The result is a coherent economic strategy, but one with clear distributional costs.
Why Robotaxis?
Robotaxis arise from a clear industrial logic. Ride-hailing firms depend on labor, and labor is costly. Automation removes that cost. The driver is the largest recurring expense in each trip. To strip it out is to move closer to profit. For technology suppliers, fleets of robotaxis offer more than revenue.