"The Riff" with Byrne Hobart and Erik Torenberg cover image

E36: Meritocracy, Modeling Globalization, and The Burden of Knowledge

"The Riff" with Byrne Hobart and Erik Torenberg

NOTE

Quality over Quantity in Economic Activity

Statistics can be misleading when divorced from the underlying stories. While a claim suggested that over half of economic activity consists of meaningless jobs, this is challenged by questioning why private equity firms have not taken advantage of this by buying companies and cutting half the workforce. The example of Twitter is presented, which despite having more employees than necessary, still functions adequately, though with some inefficiencies.

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