Michael J. Hicks

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Michael J. Hicks

Michael J. Hicks

@HicksCBER

Father of 3 marvels. Lucky husband. Parent lottery winner. Ret’d infantryman. George & Frances Ball Dist. Prof. of Econ, VMI '84, UT ‘98, personal account.

Muncie, IN Katılım Eylül 2010
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Michael J. Hicks
Michael J. Hicks@HicksCBER·
The ideals of the Enlightenment returned to an enslaved French beach by the wretched refuse of her teeming shores. June 6, 1944. goo.gl/images/d3bKZI
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Edward Luce
Edward Luce@EdwardGLuce·
"As case studies of how to throw away strong hands, Putin and Trump are without peer. As the lap into which most of their cards have fallen, China is the main beneficiary." My column. ft.com/content/c42e90…
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Scott Lincicome
Scott Lincicome@scottlincicome·
New @nberpubs: "The Price of Protection: Tariff Incidence and Import Collapse under the Infamous Smoot-Hawley Tariff" #fromrss" target="_blank" rel="nofollow noopener">nber.org/papers/w35249#… Spoiler: Americans paid the tariffs, which crippled imports and modestly reduced welfare. Shocking, I know.
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Acyn
Acyn@Acyn·
Bolton: I think we're on the verge of something that ultimately history will decide was a catastrophic loss for the United States
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Ben Golub
Ben Golub@ben_golub·
I think it's kind of a problem with economics that success in the profession can be predicted well at admission time It suggests that the profession is more a set of tests for well-socialized children than a treacherous search for the truth
Peter Hull@instrumenthull

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Volodymyr Zelenskyy / Володимир Зеленський
Today is Memorial Day in America – a day of national respect for each and every person who defended America and freedom in uniform. Without the United States, there simply would have been no European freedom – and the 20th century proved this absolutely clearly. Now Russia’s full-scale war is not only against Ukraine, but also against the very format of such a Europe – a free, democratic, united Europe. It is Euro-Atlantic unity that has been, and remains, the foundation of the world’s economic and, in many respects, social development after World War II. Ukraine is grateful to the United States for supporting our defense and to all compassionate American hearts that continue to support Ukraine. This war must be ended – and ended in a dignified way. And America’s role in this – America, which Russia fears – truly can be one of leadership: in supporting our defense of life here and our ability, later on, to help defend life for other nations, those who truly need it. Thank you, America!
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Stéphane Surprenant
Stéphane Surprenant@S_Surprenant·
Many people probably don't realize how high the bar is to complete a PhD in economics. But let me explain for their benefits. A proper PhD program makes you work about 50 to 60 hours every week for a year before your start focusing almost all your time on research. If you clear all your classes, you get to take qualifying exams: 4 hours long exams on micro theory and macro theory, each covering the entirety of 3 graduate level courses. If you fail those exams, you're out. And the exams are extremely hard to pass. The problems are not broken down, so you do not have any hints along the way and a mistake can rapidly snowball into cost you 20%. And you basically do not have any time to hesitate. It's so demanding that smart people who prepare for it routinely fail. Have you ever seen the face of students who failed those exams? Because I have. These people were smart. I was around them for a year. Some of them studied physics and mathematics before falling in love with economics. And they really wanted to do an economics PhD. They showed up every weekend to study. But it wasn't enough -- and that's not Chicago or Harvard where it would be even harder. So, I am going to say something many people will dislike: most people would fail to complete a PhD in economics even if they gave it their best shot. It's just that hard. Paul Krugman and Joe Stiglitz ran circles around people who did this for years... I know it's tempting to call them names if you dislike their politics, but there is no question these are unusually smart people.
Robert E. Wright@robertewright

@S_Surprenant Are they really high IQ though? Or did they simply attain "formal operations" in a highly specialized subfield and were in the right place at the right time? Truly high IQ folks have contributed/can contribute across multiple fields whenever they put their minds to it.

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Michael J. Hicks retweetledi
Covie
Covie@covie_93·
TALARICO: I want Texans to be able to afford food and pay their bills. PAXTON: Talarico?, more like Tala-freak-o and he's a vegan. The polls:
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Scott Lincicome
Scott Lincicome@scottlincicome·
"Longtime migration away from parts of Rust Belt starts to reverse; housing affordability is pull..." wsj.com/us-news/akron-… "The improvement is most evident in places with service-based economies" "Although northeast Ohio’s roots are in manufacturing, much of its present job growth... is in healthcare and other service industries."
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Katie Livingstone
Katie Livingstone@Katieonwarfare·
It’s official per @TheStudyofWar — Russia’s war in Ukraine is no longer a stalemate. Kyiv is now calling the shots.
George Barros@georgewbarros

We’re calling it: The war in Ukraine has entered a new phase. @KatStepanenko and I have authored a new special report studying how Ukraine is actively challenging the positional character of the war that has dominated the battlefield since 2023. Data on Russia’s battlefield performance indicates that the character of the war is shifting in favor of Ukrainian forces – at least for now. Russian forces rates of advances are stagnating while Ukrainian forces are employing novel tactics and operational concepts in efforts to break out of positional warfare. Neither Russia nor Ukraine can conduct operational maneuvers yet, however. The bottom line is that the war in Ukraine is competitive and far from stalemated. Ukrainian forces are out-innovating Russian forces in both military technologies and in applying these new technologies in effective operational concepts that can help Ukrainian forces break out of positional warfare. Ukraine is employing mechanized equipment in tactical maneuvers in ways that were impossible 12 months ago. Russia’s ability to conduct infiltration missions will likely continue to degrade as Ukraine’s intermediate-range strike campaign pushes Russia’s logistics and forward operating bases further away from the frontlines, reducing resourcing to sustain infantry tasked with infiltration missions. Ukraine may be able to scale these effects if they resourced properly by international partners. Ukraine’s advantage in intermediate range strikes is notably not permanent, and Russia will very likely eventually develop countermeasures to mitigate Ukraine’s advantages. Ukraine’s international partners thus have a rare and temporary opportunity to help Ukraine exploit favorable battlefield dynamics while Ukraine has the upper hand. Key Points of the report: • Russia’s rate of advance is plummeting during the Russian Spring-Summer 2026 offensive. • Russia is losing more soldiers to make fewer gains, with monthly Russian casualty rates reportedly outpacing monthly recruitment since December 2025. • Ukraine is starting to regain more ground than it is losing for the first time since 2023. • Ukraine’ recent counterattacks feature unique characteristics and deviate from key trends that defined the positional character of the war since 2023. • Ukraine is conducting a pattern of more frequent mechanized counterattacks at the tactical level for the first time since 2023. • The Ukrainian command’s operational planning is maturing. • Ukraine’s early 2026 counterattacks in the south were successful likely due to better planning and preparation of the battlefield. • Ukraine has been conducting a coherent campaign to suppress and destroy Russian air defenses since late 2025, in order to shape the battlefield as part of more sophisticated campaign planning. • Ukraine significantly intensified its intermediate-range strike campaign against dynamic targets in Spring 2026 in order to degrade Russian logistics at operational depths ahead of planned Ukrainian maneuver. • Ukrainian forces started actively disrupting Russian railway logistics in occupied Ukraine and Russian western regions in Spring 2026. • Ukrainian intermediate-range strikes are already achieving notable operational effects, including degrading Russia's ability to use the key Russian highway connecting Russia to occupied Crimea and GLOCs around Donetsk City. • Ukrainian forces decisively seized the initiative in intermediate-range strikes by fielding new technologies such as the US-made Hornet strike UAV, among other systems. • Ukrainian forces are achieving temporary tactical drone overmatch in some frontline sectors, which is slowing Russian offensive operations by degrading the effectiveness of Russian shaping operations. • Ukrainian forces likely achieved tactical drone overmatch in certain frontline sectors after degrading Russia’s drone capabilities in late 2025 to early 2026 - primarily by suppressing drone launch positions and increasingly intercepting Russian tactical UAVs. • Ukraine’s degradation of Russian forces at operational depth combined with tactical-level drone overmatch likely is creating vulnerabilities in the Russian lines. • Ukraine’s intermediate-range strike campaign is likely far from its zenith, assuming continued support from Ukraine’s partners, and will likely intensify over 2026 as Ukraine fields new weapons capable of striking Russian’s operational rear. Link to full report: understandingwar.org/research/russi…

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Andrew Donaldson
Andrew Donaldson@four4thefire·
Remember & honor Capt Bejamin Salomon of Milwaukee: drafted dentist went from enlisted machine gunner to commissioned infantry officer to dentist to emergency surgeon of overrun aid station. They found him shot 24x w/98 enemy dead piled in front of him Medal of Honor recipient
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