Cohn Slams Former White House Colleagues: "I Don't Want To Live In Chaos"
Chaos generates growth. It gives us temporary license to execute shovel ready productivity gains. Growth comes from a re-ordering, like Ford's assembly line was a re-ordering of keeping inventory specialized before assembly so the worker is specialized. Then we have productivity gaps closed by closing a loop, merges or tax simplifications, and other forms of consolidation.
We need chaos to get this done, if tariffs are the source of chaos, I will take it. Out of the chaos, for example, we should see Fintech blossom.
We allow about 1.5 times the slack needed to keep queues stable. The extra is for 'sending the map' or otherwise finding price bounds so the queues can be reset via discovery. That extra half point of variance is the disorder we need to keep productivity growth adiabatic and avoid a major requant..
We allow about 1.5 times the slack needed to keep queues stable. The extra is for 'sending the map' or otherwise finding price bounds so the queues can be reset via discovery. That extra half point of variance is the disorder we need to keep productivity growth adiabatic and avoid a major requant..
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