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Why haven’t working hours decreased more?
Keynes predicted substantial economic growth to lead to a 15-hour work week by 2030.
He was right about growth, but way off the mark on labor/leisure hours. Why?
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quant (is rebranding soon)
5.1K posts
quant (is rebranding soon)
@quant_____
fewer recessions, more regressions / tweets reflect the opinion of you & your institution
Katılım Ağustos 2023
1.6K Takip Edilen1.1K Takipçiler
I think one solution to the computational problem is attention.
Agents should “attend to” macroeconomic states by focusing their computational budget on some information more than others
The Economic Journal@EJ_RES
In the May 2026 issue: ‘The Trouble with Rational Expectations in Heterogeneous Agent Models: A Challenge for Macroeconomics,’ by Benjamin Moll doi.org/10.1093/ej/uea… @ben_moll @RoyalEconSoc #EconTwitter
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I find it difficult to even conceive of a job where this is the case.
It's also less about 'Do I need to be in the office to complete this task?' and more about coordination, communication, long run tacit knowledge, mentorship, etc. Agglomerations are real.
𝕧𝕖𝕣𝕤 𝕝𝕒 𝕃𝕦𝕟𝕖@vers_laLune
Bro nothing of use is happening in person at any job short of wall street. No one has any information to share with you AI can't tell you and boomers have ruined everything. None of that is worth driving in traffic and not having free time to yourself
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@nominalthoughts I can’t imagine doing something like that and it not being seen as pretty shameful by everyone around you
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I remain convinced that AI won’t be a major labor market issue, but I’m genuinely worried about the implications for content moderation, synthetic media and cybersecurity
Also, these people suck and are why we can’t have nice things
Dexerto@Dexerto
DoorDash has responded to a TikToker who used ChatGPT to edit images of her food to get a $39.24 refund “Oop should’ve blocked us!”
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@quant_____ you're employed now you don't get to say that anymore
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They better be paying y’all 200k base to go to Birmingham
The Wall Street Journal@WSJ
Memo to the class of 2026: Your first, best career move might be to head south. on.wsj.com/4wkc0jh
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@Andrew_Semenza No, I’ve never been and don’t know much about it. My bad
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@quant_____ bruh have you even been to San Jose? One of the greatest cities in the world; a magnificent specimen of human ingenuity and aesthetics
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I relate to this. I’m quite predisposed against envy, generally. Despite this I’ve come to envy the high aspirations & professional/academic networks afforded to a lucky few. I am incredibly lucky in many ways; I have incredible parents, but I imagine my career would be far easier if my parents were academics (or embedded in elite academic culture).
It’s worth remembering how small and petty this inconvenience is in the grand scheme of things. It’s akin to a prince grieving because he’s not a king.
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@jack_whitcomb_ I think you underrate your job prospects
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Many labor economists have failed to consider that if you're unemployable enough, the opportunity cost of a master's degree is negative. You save time and money you would have wasted on finding a job nobody would give you because you are such a massive chud.
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> “I was going to be an industrial engineer.”
> “I don’t even know what that is.”
????
Jack@Jackkk
Logan Paul reveals he would’ve become an engineer if he never got famous “I was going to be an industrial and systems engineer” “When I dropped out of college, I finished my first year with a 4.0 GPA. It was a hard decision because I am a bit of an academic, if you will” “My goal at that point in time was to invent a product that would revolutionize the world and it turns out media allows me to exercise that creative part of my brain and it’s a lot more fun”
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@akib_kn “Science progresses one funeral at a time”
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Indeed. No evidence of precipitous declines in package and repo creation (relative to R, even).
Thread on this, using CC, here: x.com/akib_kn/status…
TheVagabondScholar@sheikh__ridwan
The reports of my death are greatly exaggerated. --- STATA
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@beagewill @FangYi11101 I think it’s generally fine to defend billionaires when their critics are so stupid and wrong as in this case
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@FangYi11101 nah, you're defending billionaires. that's exactly what your tweet is doing.
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Listening to the New Yorker politics podcast and the guest is literally describing billionaires as “picking our pockets left and right,” while the hosts coo in agreement. This is exactly the echo chamber that produces AOC’s cartoonish view of wealth creation.
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@solidshepard12 @FangYi11101 @sellamajuan Could you at least attempt to substantiate this? Did Bezos raid the commons? Gates? Brin & Page?
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@FangYi11101 @sellamajuan Ok but the *primary* way to become a billionaire is to raid the commons
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One time, while my mom was driving me home from elementary school, she complained that people nowadays believe everything is relative; she was complaining about moral relativism. I didn't know what that was, but I argued that indeed everything is relative: nothing can be said about the world without making explicit or implicit comparisons.
Ofc I was not articulate at that age, but I recall that was the point I was trying to make.
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I dislike the use of "peerless" and "incomparable" as compliments. Everything can be compared. Stop using compliments which are not accurate. Instead describe their absolute and relative positioning on the axes of merit.
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@regressiondisco Ok I agree that if you completely inflate (abolish) grades, you don't have strategic behavior.
I would imagine Greene is mores making a point about local grade inflation crowding out risk taking. As you said, it's the heterogeneity that creates the course shopping incentives.
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@regressiondisco Yang & Seng Yip (2003)
asc.ohio-state.edu/yang.1041/grad…
Indonesia
There is another incentive in the other direction as well. Say you have high and low-ability students. If departments vary in their degree of grade inflation, and this is (at least partially) observed by employers, high ability students will sort into grade deflating fields to distinguish themselves, and low ability students into grade inflating fields to conceal their incompetence.
This does not preclude the general disincentive to take these classes, though.
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