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Illuminating discussion on the fiscal origins of the inevitability of Soviet’s reform’s failure. I wonder whether this explains China’s obsession with its consumer goods producer power: it basically makes it inflation-proof and in turn fiscal-crisis-proof. Gorbachev conceded

Tbh, this comes more down to the automatic low confidence in indigenous tech among China’s finance/VC people than anything institutional/technical/concrete. Outdated, narrative-driven, scam-scared.

💘Can authoritarian propaganda cultivate support and deter protest during “normal” times? ➡️Tony Zirui Yang & Hongshen Zhu find that hard propaganda reinforces support for protest, while soft propaganda loses credibility cambridge.org/core/journals/… #FirstView

Visited a Tibetan temple in Sichuan and paid 30 yuan to pray for my health. The monk gave me a barley seed to chew. My teeth cracked. I went to a private Chengdu clinic to do a panorama X-ray, costing 0.9 yuan with Meituan coupon. It turns out the tooth has long gone bad and the

Once again, I'm disappointed to see Autor and co inappropriately extrapolating their DiD results to make conclusions about aggregate effects, and I'm disappointed in the media for giving these unwarranted conclusions space. [1/x] nytimes.com/2025/07/14/opi…