Interesting Comparison Of The Old World Vs. The New World

World 2 – “There are decades where nothing happens; and there are weeks where decades happen.”
― Vladimir Ilyich Lenin

World 1.0World 2.0
110 successive months of job growth10 million jobless claims in 2 weeks
10 year bull market across sectorsWinners and losers with extreme outcome inequality
Full employment30% unemployment
Base rate thinkingFirst principles thinking
PhysicalDigital
Office by defaultRemote by default
Office for workOffice for connection, community, ecosystem, makerspaces
Suit, tie, wristwatch, business cardGood lighting, microphone, webcam, home office background
Commute + traffic jamsHome + family
Last mileOnly mile
RestaurantsGroceries + delivery
$4 toastSourdough starter
WalkscoreSpeedtest
CitiesInternet
$100k for collegeNot paying $100k for a webinar
CityCountryside
YIMBYNIMBY
Internal issuesExogenous shock
Lots of little problemsOne big problem
Stupid bullshitActual issues
Too much technologyToo little technology

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ComplacencyAction
YearsDays
PolicyCapacity
IdeologyCompetence
Assume some government competenceAssume zero government competence
InstitutionsGhost ships
WHOWho?
Trusted institutionsTrusted people
GlobalizationDecoupling
Just-in-timeStockpile
Tail risk is kookyTail risk is mainstream
NATOAsia
Boomers most powerfulBoomers most vulnerable
Productivity growth collapseEconomic collapse
Social services DemocratUBI Communist
PropagandaPropaganda
Deficit hawksMMT
Corporate debtGovernment debt
TechlashTech a pillar of civilization and lifeline to billions
Break up AmazonDon’t break up Amazon!!!
Avoiding social issuesAvoiding layoffs
SportsEsports
Phone is a cigarettePhone is oxygen
Resource depletion$20 oil, $0.75 watt solar, <$100/kwh batteries
StasisChange
Low volatilityHigh volatility
DesignLogistics
ExtrovertIntrovert
OpenClosed
20th century21st century

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* This Article originally appeared on the Marginal Revolution blog by Tyler Cowen

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