5 posts
The usual story about the pension shift is that coverage collapsed. It didn't. Participation hit its highest level since 2010 and increased across the whole income distribution — while the mean balance for the bottom half of earners fell, during a stock market boom.
Two countries, one mechanism. When assets appreciate faster than wages, the price of joining the owning class rises faster than the means of paying for it — and the same salary buys a smaller claim on the future every year. The US and Canada fail at this in mirror-image ways.
Two official figures for the same year differ by five percentage points, and each side quotes the one that suits it. The more interesting number is that Tamil Nadu collects 10.4% of GSDP in revenue where a median state collects 19.9% — and has pushed subsidies from roughly 8% of spending to 37% in four years.
Explore the intricate dance of power across micro, meso, and macro levels. This post delves into how individual and family dynamics intertwine with institutional structures and broader societal forces, creating complex feedback loops that shape our world.
The productivity slowdown, the hollowed-out middle, and the long decline in business dynamism are each well documented. The stage theory that binds them into a single arc of civilisational decline is not — and since 2023 the three have been moving in different directions, which is exactly what a cycle is not supposed to do.
