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☆ Canada's First Nations are building the densest neighborhood in the country by reclaiming their ancestral land and defying NIMBYs
▼ + stars: | 2024-03-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

AdvertisementMindy Wight, CEO of the Squamish development group building Sen̓áḵw, called it "the creation of a modern Squamish village" in an interview with Business Insider. Canada's federal auditor general recently condemned a "distressing and persistent pattern of failure" by federal programs designed to support First Nations housing and infrastructure, among other services. The housing projects aren't the only major developments underway on indigenous land in Canada. There are no housing or infrastructure developments on US tribal land that match the scale of the First Nations projects in Canada. While some Native American tribes have spearheaded significant housing projects, most indigenous-owned land in the US isn't in the most valuable housing markets.

Persons: —, it's, Mindy Wight, Sen̓áḵw, Brennan Cook, Cook, Heather, reaps, Elisa Campbell, Jericho, Campbell, Heather Lands, Sen̓áḵw, Gordon Price, Price, Tyler Harper, aren't, Michelle Cyca, Alex Armlovich, Armlovich, Noah Smith Organizations: Service, Nations, First Nations, Business, Nation, MST, Corporation, MST Development Corporation, Vancouver City, Canada Lands Company, Energy, Technologies, British Columbia, CBC Vancouver, Bates, Niskanen Locations: Canada, Vancouver, Squamish, Squamish Nation, Wight, Jericho, British, American, MacLean's, Canadian

☆ Opinion | Will A.I. Take All Our Jobs? This Economist Suggests Maybe Not.
▼ + stars: | 2024-03-22 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Let’s say for now that the day comes when robots and artificial intelligence can outperform human beings at every conceivable job, from waxing floors to waxing eyebrows to waxing philosophical at a lectern. “It’s very possible that regular humans will have plentiful, high-paying jobs in the age of A.I. dominance — often doing much the same kind of work that they’re doing right now,” he wrote Sunday on his Substack. I ran Smith’s argument by several economists who think a lot about these issues, and they were skeptical. But there’s so much pessimism around the future of work these days that Smith’s take comes as a welcome ray of sunshine.

Persons: Noah Smith, “, ”, Smith, Martha Stewart Organizations: Revolution

☆ Opinion | Fine, Call It a Comeback
▼ + stars: | 2024-03-10 | by ( Ezra Klein | ) www.nytimes.com time to read: +1 min

So far, the Biden team has been more sure-footed attacking Donald Trump’s threat to democracy than it has been defending Biden’s incumbency. By virtually any measure save food prices, Biden is presiding over a strong economy — stronger, by far, than most peer countries. As Noah Smith has noted, the Biden economy looks far better than Ronald Reagan’s “Morning in America”: Unemployment is lower, inflation is lower, interest rates are lower, stock market returns are better. The most recent Times/Siena poll found that 74 percent of registered voters rated the economy either “poor” or “fair.” By a 15-point margin, voters said Trump’s policies helped them personally. In November of 2020, unemployment was 6.7 percent and Trump had just turned a White House celebration into a superspreader event.

Persons: Joe Biden, you’re, he’s, Here’s, that’s, Biden, Donald Trump’s, Noah Smith, Ronald Reagan’s, they’re Organizations: Union, Trump Locations: America ”, Siena

☆ What Japan’s Economy Can Tell Us About China - The New York Times
▼ + stars: | 2023-07-25 | by ( Paul Krugman | ) www.nytimes.com time to read: +2 min

And while this is hard to quantify, lots of people I’ve talked to say that Japanese society is far more dynamic and culturally creative than many outsiders realize. The economist and blogger Noah Smith, who knows the country well, says that Tokyo is the new Paris. Which brings me to the question that I raised at the beginning of this newsletter: Will China be the next Japan? China has a wildly unbalanced economy, with too little consumer demand, kept afloat only by a hypertrophied real estate sector, and its working-age population is declining. I am very definitely not a China expert, but is there any indication that China, especially under an erratic authoritarian regime, is capable of pulling this off?

Persons: I’ve, Noah Smith, China Locations: Tokyo, Paris, Japan, China

☆ Maybe millennials didn't get screwed by the economy after all
▼ + stars: | 2023-04-24 | by ( Matt Turner | ) www.businessinsider.com time to read: +7 min

There's a common perception that millennials have gotten screwed by the economy. But a recent article makes a convincing case for why the common idea of broke millennials is a myth. By 2019, households headed by Millennials were making considerably more money than those headed by the Silent Generation, Baby Boomers, and Generation X at the same age, after adjusting for inflation." While 69% of baby boomers owned their own home at 40, the same is true for 62% of millennials, a seven-percentage-point gap. Per data from the St Louis Fed, the Millennial/Gen Z wealth is currently tracking with Gen X after initially getting off to a tough start.

☆ Here's why people shouldn't freak out yet about losing their jobs to AI automation
▼ + stars: | 2023-04-10 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

As AI tools revolutionize business, workers are worried they're at risk of losing their jobs. "We've been deploying automation technology for centuries, and as of 2023, pretty much every human who wants a job has a job," Smith wrote. Yet Noah Smith, the writer behind the popular Noahpinion economics newsletter, contended in a post on Monday that people shouldn't worry about losing their jobs to automation just yet. In his post, Smith examined several studies on job automation over the years from researchers at firms ranging from Citibank to PriceWaterHouseCoopers. Assessing "replacement" is often subjectiveSmith also pointed the subjectivity used in older studies for assessing a job's risk of replacement.

☆ Tesla isn't Apple, Elon Musk isn't Steve Jobs, and its cars aren't the next iPhone
▼ + stars: | 2023-01-05 | by ( Asia Martin | ) www.businessinsider.com time to read: +6 min

Analysts and industry observers have compared Tesla and CEO Elon Musk to Apple and Steve Jobs. Tesla isn't the next AppleBoth Apple and Tesla had a first-mover advantage, another reason so many analysts like to draw parallels between the two brands. When Tesla emerged with top-selling electric cars, the Tesla Model Y and Tesla Model 3, held a commanding market share in North America. A shrinking market share isn't disastrous for Tesla — part of the reason Tesla's market share will shrink is that every auto maker will be selling a lot more EVs. The world's largest automaker, Toyota, had a market share of just 10.5% in 2021 — nowhere near the 55% market share Apple holds in the US.

☆ Everyone's been wrong about inflation, and it's costing workers in salary negotiations
▼ + stars: | 2022-11-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Inflation eased in October, but it stayed well ahead of most workers' year-over-year pay increases. While American workers are experiencing the strongest wage growth in many years, fueled by strong demand for labor, inflation has continued to overpower pay gains for most workers. Average hourly earnings, for instance, rose 4.7% in October, continuing to trail even the slower inflation rate. Several things have held back workers in their salary negotiations, including the decline of unions, stagnant minimum wages, globalization, and perhaps even some corporate greed. With demand for labor so high, some experts have wondered why Americans' wages haven't grown by even more.

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