In capitalism they use every part of the animal pic.twitter.com/8JotvQDuNT

3. Monopolies & collusion Some industries can become monopolies, either naturally (Eg, electrical grid) or through consolidation. A monopoly will always extract too much value for the producer. Collusion will increase prices. They must be regulated away. [10/

Externalities must be regulated away, either through straight regulation or through taxes [9/

2. Externalities When the buyer and the seller make a transaction that benefits them at the expense of others, that’s bad. Eg: selling highly polluting cars, using slaves for production, using antibiotics on all animals (creates antibiotic-resistant pathogens)... [7/

It creates a huge incentive to increase your benefits in ways that worsen society. This happens in many ways. Eg: 1. Information asymmetry You want cheap & delicious food. But what if it has ingredients that cause cancer? The producer knows it, but doesn’t tell you. [3/

Capitalism is great. It uses natural selfishness to push ppl to be as productive as possible, promising them wealth. The + you produce for others, the + you get. That is achieved by incurring both the cost and benefit of your initiatives. Here’s the pbm [2/

Capitalism vs socialism, markets vs gov... Most ppl think 1 is great and the other trash. That’s simplistic. They’re tools adapted to different situations. We must understand them to know when to use them. Thread. [1/

$19,800 is the number the average American sees as a "life-changing" amount of money.

Capitalism rewards rare and valuable (a short thread on this mental model) 🎉 It's also the first chapter from my new book invertedpassion.com/capitalism-rew… pic.twitter.com/SRPnwAGKzC

Here’s how numbers mislead. We know how important is 🇮🇳 India’s economic development, right? But do you know who in India is reaping the benefits of such growth? The already 🤑 rich. (thread)

1/ Here’s a little (true) story of how technology + capitalism worsens life quality by converting people into commodities.

Short term capitalism is about the art of the profitable. Long term capitalism is about the art of the possible. As interest rates approach zero, long term capitalism is the only capitalism that has value.