Quote of the Day

He did very graciously dedicate the book to me, and it’s an incredibly powerful articulation of this theme on many different levels. I think the question of technological dynamism isn’t often examined, but when you look into it you see many problems, from transportation failures to the space program and the Concorde decommissioning to how the energy failure allows oil price shocks to undo the price improvements of the previous century. Think of the famous 1980 Paul Ehrlich-Julian Simon wager about resource scarcity. Simon may have won the bet a decade later, but since 1993, on a rolling decade basis, Ehrlich has been winning famously. This is something that has not registered with the political class at all.

- Peter Thiel on Tyler Cowen's The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will(Eventually) Feel Better