This is a section from the breakdown newsletter. To read full versions, Subscribe,
“The man who disappoints others is revered as a sage.”
– John Stuart Mill
Thomas Piketti reviews his review capital, Dyardre macaclosi “I never understood for reasons, people like to hear that the world is going to hell, and when some silly optimists infiltrate their bliss, they like to hear it.”
“Sells pessimism,” she sees. “Still pessimism has been a poor guide to the modern economic world.”
It seems that it is never more true in the age of the Internet, where Negtibility consumes online news,
Bad news has always received clicks, but Joseph Pulitzer was the first to make it a business model – Pulitzer bought and made his newspaper luck and then dumped down. New York WorldFilling paper with immediate headlines of murder, crime, scam and disaster.
This worked, of course; Pulitzer’s paper became wildly popular as it tapped in our evolutionary instinct to pay extra attention to bad news.
As Daniel Kahnman explains, “An organisms that consider more important than opportunities with dangers get a better opportunity to survive and breed.”
The most advanced creatures of today are no exception: “People don’t want to read about how good things are,” Morgan Housele They saySaying that we are ready for those who tell us how bad things are: “optimism looks like a sales pitch. Pessimism seems to be trying to help you.”
By any proper measure, 2024 was the best year Sometimes And Our life is better than before,
But people do not appreciate listening to it.
“Why is it controversial to say that things are better as they used to do?” Hanna richi Asks
“The better than what they used to be” is not a higher bar, because the truth is that our ancestors lived in. Cruel and boring world,
And yet, people believe that things were Better when they were worse,
There is no guarantee that 2025 will be better than 2024, of course, or 2026 would be better than 2025 – and our tireless pessimism is trying its best to see it is not.
About people who disappoints as sages, we are more likely to make their serious predictions come true.
How to explain renewed popularity of unsuccessful experiments like tariffs and statism?
These are debates that were decisively decided in favor of free trade and free markets, when we were much worse than now.
But it is easy to forget that when evolution has prepared us for bad news like pests for a flame.
I think we should follow McClosy’s leadership and instead be “silly optimistic”.
Let’s check the chart.
Economic news has been good:
If it was the value chart of a share, would you reduce it? Our standard of living, as the world is measured by GDP per person, is almost a straight line.
Directly correct:
One of the biggest economic success stories of recent decades has been appreciated. Poland’s per capita GDP is three times more since 1990, but A recent survey It was found that only 29% of the poles feel that their country is in the right direction.
Poverty is less common:
The global poverty rate measured as part of the world’s population living less than $ 2.15 in 2017 dollars, in 2024 all the time of 8.5% decreased from the downward 38% Recently as 1990.
Great migration of India:
Economist Reports Citing the World Bank’s most recent data, “Extreme poverty in India has fallen to negligible levels -” Only 1% of India’s houses fell below the international poverty line in 2024, almost below to bottom 50% In 1995. This is such good news, I think it is worth repeating: almost half of India recently as 1995 in excessive poverty and now, almost no one does. Incredible – especially given that 40% of India’s workforces are still working on the fields. (Note: The World Bank chart goes up to 2021 only.)
Contra piketty:
Cato institute Finds Most of the measures of inequality have declined rapidly in recent decades, with infant mortality and air quality two unfortunate exceptions. In the case of infant mortality, however, the news is OverallThis is just that the developed world has continued to improve rapidly than the emerging world.
Make sure your retirement account is completely funded:
The United Nations data shows that the average life expectancy increased to 73.3 years of high time in 2024 and is expected to grow. In the mythological decade of the 1950s, the global life expectancy was less than 50 years. Go ahead, historians Thomas Kahil It is estimated that in the golden era of the civilization of ancient Rome, only 4% of men did the last 50 from 50 (and “very little” women).
American upwards are mobile:
Yes, the American middle class is shrinking – but only because people are getting rich. Mark peri Citing the census data, shows that the percentage of medium-or-I houses is below as many of them are now high-income houses. Better yet: Low -income houses are going to the beach.
Contra Malthus:
Thomas Malthas famous in a famous argument that agricultural production could probably not live with population growth, but Cato institute It is said that the more resources we consume, the more we have. ” This is not only about folds, although: “Humans, especially people living in countries on the border of innovation, create knowledge that allows us to grow our resources well that we consume.”
Travel is optimistic:
The US government can make its back in the world, but not Americans – a record 21.8% Americans say they plan to exit and see what the rest of the world is.
Stability is more inexpensive:
Solar panels have become so cheap in Europe that they are being used Garden fence (Just because they are cheap than regular garden fence). In Spain, Electric Grid recently recorded its first week’s day 100% renewable energy,
The goods are also getting cheaper:
“Price of time of goods” – that is, a few hours of blue collar takes labor to buy something – about 81% has fallen since 1971 (the year the US had left the gold standard). For example, the price of power drill has fallen 93.8%! exhaustive list Many other garage and mankev requirements are included, such as 81% decrease in the cost of a mini-fridge (to keep your beer cool, of course). What a great time to be a man in this world.
Technology spreads quickly:
Recent American history suggests that when big new things are invented, it is not almost everyone. (This is only a little longer until we start complaining about them.)
We do not hear enough of these success stories because they are slowly – “Pearl is not equal to harbor or for good news,” as Morgan Houselle says.
But good news connects over time.
Rub NoteFor example, that in 1800, it took a 10 -minute human labor to produce one kilogram of wheat, and in 2021, it took only two seconds.
The decline of 99.7% decline in the price of food is very good news, but it is not very good in the headlines, as most of us will not click on it.
But we do not have to be slaves for our evolutionary tendency – next time you see some good news, read it.
We will all be better for this.
A magnificent weekend, is optimistic reader.
Get news in your inbox. Explore blockwork newsletters:
