The Awesome Science of Chinonomics

Social Capital , simply put, is what makes civilization go . At the neighborhood level, it's what makes you feel at ease with crossing your street to ask your neighbor for that specific wrench you need to tighten that one hinge you're trying to fix. The trust you have in your neighbors --the comfort of knowing your car tires won't be slashed at night or that your house won't be broken into-- allows you to focus on things that are different from security and survival to (hopefully) be more productive. Sure, you can also spend all your time  doomscrolling  and brainrotting , but at least you have the optionality to do something good with that extra time. When it works in harmony, the social contract we tacitly (sometimes expressly) enter into allows us to develop our human capacities.  After all, what is art and the pursuit of knowledge if not just the leisurely, luxurious activity that's permitted only when those with the capacity, the interest, the means and intent ...

If you ask me to name the one thing that makes the United States the most powerful and influential country in human history...  I don't answer its military. Even though the U.S. defense budget is staggering. I don't answer its rule of law. Even though the U.S. ranks very high in the world .  I don't answer its living standards. Even though the U.S. ranks in the top 5  in economic freedom. I don't answer its cultural inclination to dominate and conquer faraway lands , nor the facility (and most importantly, the willingness ) of its citizens to move within its borders in search for a better future. Laudable as that may be.   Even if the % of movers has decreased since the 90's, close to 17MM people moved within the US in 2017 alone.  That's almost  the equivalent of the Netherlands, or Ecuador, or Senegal moving houses in 12 months  🤯 .  I would not even answer its marvelous capacity  to take in immigrants from all other the world for mor...

The more you want to get away from it, the easiest it finds you. Bad news and ominous signals have an inexorable way of powering their way to your skull. Regardless of how badly you want to get away from them. Our loss aversion makes us more attentive to bad news, because not acting on negative risk meant literally dying when we were apes.  Wanna know the saddest part of all this? This is still very much true in the year 2022.  I remember telling myself once and again when I heard nonstop reports on Russian amassing troops on the border with Ukraine before the invasion:  "Enough already! This whole 'will-he/will-he-not invade' non sense is getting tiresome. Of course Putin won't invade! I'm sick of this media alarmism. I mean, the costs are massive. Ukraine is too big a country. It's not Syria. It borders NATO, for God's sake! All Putin has to do to win is retreat, don't invade, and say 'See? I told you! Biden's a warmonger. I told you all along...

Paradigms are a funny thing. They are collective conventions people believe in --even rely upon for functioning. They're ideas everyone has agreed as truth, which few (or not a substantial number of people) question, until a revolutionary thinker, or a massively influential event (or a combination of both) occurs, and they are busted. The earth was flat and no one questioned it until a "brave revolutionary" called Copernicus dared to think outside convention and declared earth revolved around the sun. And boom: Ptolemaic cosmology was gone. Money and government, both social constructions that rely on people according them legitimacy , also rely on paradigms to function. A major one is that money is finite -- we  can  run out of it . Another one is that we can get it only if we do (work on) something of value for somebody else . Also, that we can't make our own money --unless we want to land in jail. Or be tragically killed . Therefore, the reputation of a currency, at...