Econ 101: under a frictionless version of perfect competition, we arrive at the best possible outcome, as long as we don't consider outcomes involving transfers from the advantaged to the disadvantaged.
Econ 401: Innovations like expanded international trade or capital flows have winners & losers, but the winners' gains are more than sufficient to compensate the losers' losses, so it's a win overall. No need for the compensation to actually happen, OBVS
Relevant thread: https://mastodon.social/@magitweeter/111653879323307502
Apropos of nothing in particular, I just like it
Once again, a research paper that shows local experience of immigration and refugees is inversely related to anxiety about immigration and racism. Reporting of national levels is correlated with rising "exclusionary beliefs and behaviours", but actual local experience has the opposite effect.
Informative article (in French) on the effects of the clock change: small positive effect on reducing energy demand, health and accident effects seem marginal (brief increase in heart attacks in spring, decrease in autumn).