hcmacro

In which prior downturn did the valuation of Coinbase (and other unicorns) get nuked -90%?

I'm one of those human weathervanes and get terrible headaches ahead of rainy weather. I've logged such episodes in a notebook and they seem particularly bad during Atlantic hurricane season. My quack, untested, idea is that climate change is leading to a greater incidence of headache.

Observed macroeconomic properties are subject to historical path dependence and inextricable from a country's relative technological attainment. As an economic periphery of the Dutch Republic in the 17th century, Japan experienced problems similar to Argentina's. But now, as a "core" economy---no doubt through its special relationship to the US--Japan's role in the global economy is wholly different.

The quip above comes from Simons Kuznets and I wrote a book attempting to find an explanation:

https://www.google.com/books/edition/The_Tyranny_of_Nations/...

I spent much of the past two years writing an economic history book that compares the modern United States to Victorian Britain and the Dutch Republic. Of course, Ray Dalio had to write a book on the same topic, in the same year (albeit with differing premises and conclusion). Check my book out if you're interested:

https://www.amazon.com/Tyranny-Nations-Shaped-Todays-Economy...

I think you're too easily taking for granted that having a job makes one a productive member of society.

Evergreen link: https://www.amazon.com/Bullshit-Jobs-Theory-David-Graeber/dp...