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1: Peter Thiel: Difference between revisions
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'''Peter Thiel:''' There was a lot of excitement, a lot of stuff happened. And California was like a even more extreme version of this. You know, the last three recessions in California were much more severe than in the country as a whole. The recoveries were steeper, and so California has felt incredibly volatile. The volatility gets interpreted as dynamism. And then before you know it, 30 or 40 years have passed. | '''Peter Thiel:''' There was a lot of excitement, a lot of stuff happened. And California was like a even more extreme version of this. You know, the last three recessions in California were much more severe than in the country as a whole. The recoveries were steeper, and so California has felt incredibly volatile. The volatility gets interpreted as dynamism. And then before you know it, 30 or 40 years have passed. | ||
== Individual and Collective Incentives == | === Individual and Collective Incentives === | ||
'''Eric Weinstein:''' One thing that I'm very curious about is how this discipline seems to have arisen, where almost everyone representing the institutions tell some version of this universal story. Which, I'll be honest. To my way of thinking, can be instantly invalidated by anyone who chooses to do so. It's just that the cost of invalidating it is quite high. You know, Paul Krugman wrote this column called A Protectionist Moment, where he said, "Let's be honest. The financial elite's case, for ever free-er trade, has always been something of a scam.". | '''Eric Weinstein:''' One thing that I'm very curious about is how this discipline seems to have arisen, where almost everyone representing the institutions tell some version of this universal story. Which, I'll be honest. To my way of thinking, can be instantly invalidated by anyone who chooses to do so. It's just that the cost of invalidating it is quite high. You know, Paul Krugman wrote this column called A Protectionist Moment, where he said, "Let's be honest. The financial elite's case, for ever free-er trade, has always been something of a scam.". | ||