Scale I think is also something anchored to the actual complexity of the real economy.Self similarity is a great idea but what regression depth do we observe in the real world? And I'm not talking about mental models or the Lucas critique. How big or how small a system is depends on it's capillaries

Replicability is a demand of the times, not to be shunned however it's not a game changer. It was a response to the Great recession debacle and ensuing embarrassment of "debt thresholds" and such. I could go on and on about how econ is not a science but it doesn't mean reproducibility is bad

"... While the Soviet state’s institutions might have collapsed, the Soviet practices might have survived." ?

you mean the part on pg 220 that continues into the top of pg 221 and reads something like "[...] Vladimir Putin in his third term was making the same bargain as Brezhnev: increasing economic stagnation in exchange for political stability in the elite and for power abroad. ..."

10/10
growth, we would be better off transforming the global trading system so that members are penalized, not rewarded, for suppressing wages. The whole world benefits from rising wages, not from rising "competitiveness".
www.foreignaffairs.com/united-state...

9/10
This creates a kind of Kalecki paradox in which policies that benefit the individual make the system worse off.

Rather than each of us deciding to compete more aggressively in such a system, which would mean putting further downward pressure on global demand and global...

8/10
Our current global trading system is one that encourages countries to compete by putting downward pressure on wages, with the country with the lowest wages relative to productivity "winning" in the form of large trade surpluses and an expanding manufacturing sector.

5/10
When Macron says productivity is weak in Europe, what he really should say is that productivity is low in Europe relative to wages, or, to say exactly the same thing, that wages in Europe are higher relative to productivity than they are in China.

4/10
What really matters is the relationship between productivity and wages. When wages are high relative to productivity, as in the US, consumption tends to be high and saving low. In China, wages are among the lowest in the world relative to productivity and saving the highest.

3/10
American productivity, to take one obvious example, is higher than that of Europeans, and several times higher than that of the Chinese, and yet it is the US that runs huge deficits and China, with the highest saving rate in the world, that runs huge trade surpluses.

2/10
Countries don't run trade deficits because of low productivity, any more than they run surpluses because of high productivity. That is not at all what global trade imbalances around the world tell us, and that is not why countries have lower or higher saving rates.

nice! Why julia though?

I find it interesting that at exactly the period in time when everybody got saturated with cameras and mobile phones the reports about extraterrestrial sightings or other paranormal activities have probably declined and in any case haven't produced anything conclusive?

lol I read it in a haste and for a minute there I actually thought you were hacked

it's a great book dude congrats