Pondering price theory, past and present. A weekly newsletter covering all things economics.
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
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| Issues | 322 | Founded | 6 years ago | Last Issue | 10 days ago |
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Where the returns to AI go
In May, Anthropic raised $65 billion at a $965 billion valuation, passing OpenAI to become the world’s most valuable AI company. OpenAI itself sits at $852 billion. Two companies whose principal product is access to a model—or access to int...
AI Policy and National Defense
I spend a lot of time thinking about national defense. I find that it is a topic that most people can generally agree on as an essential function of the state. In fact, many definitions of the state explicitly or implicitly imply that this...
Never Reason from an Accounting Identity, Redux
Re-post of a core Economic Forces idea that is worth repeating
If you ever come across an economic argument that seems to make sense but goes completely against conventional economic wisdom, it’s probably “reasoning from an accounti...
Externalities, Pigouvian Taxation, and Optimal Policy
Here at Economic Forces, we love writing about externalities. They are fun to write about. On some level, they seem really easy to understand. Introductory textbooks certainly make them seem easy. Yet, this simplicity is illusory. Externali...
A compute tax is a REALLY dumb idea
People are freaking out about AI. That’s never a good starting point for sensible policy. So we get weird ideas.
One idea is to tax computer processing capabilities, sometimes called a “compute tax.” Andrew Yang is pushing it, so you know...
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Josh is Professor and Chair of the Department of Economics at the University of Mississippi
Using price theory to understand the world
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