#j-curve

#j-curve

In 1966, BCG found that a company's unit production costs would fall by typically 20 to 30 percent in real terms for each doubling of 'experience,' or accumulated production volume.

These disparate strands came together in early 2013 at the London School of Economics with the inaugural meeting of Rethinking Economics a student-led organisation that has gone on to challenge the way economics is taught at universities around the world. That first meeting was a bit chaotic, recalls Yuan Yang, one of the group's founders and a Labour MP since 2024.

We have an urgent responsibility. Our existing economic system is incapable of addressing the social and ecological crises we face in the 21st century. When we look around we see an extraordinary paradox. On the one hand, we have access to remarkable new technologies and a collective capacity to produce more food, more stuff than we need or that the planet can afford. Yet at the same time, millions of people suffer in conditions of severe deprivation. What explains this paradox? Capitalism.

The weirdest thing of all in economics, says Brandeis University Economics Professor Benjamin Shiller, is that weirdness is closely tied to fate in the age of artificial intelligence (AI). The weirder you are, he tells Fortune, the better off you'll be. In his new book " AI Economics: How Technology Transforms Jobs, Markets, Life, and Our Future," Shiller, argues that the more bizarre your job, the less likely that AI will take it.

As an investor for more than 50 years, Bridgewater Associates founder Ray Dalio told Fortune's Kamal Ahmed that, after studying the rises and declines of reserve currencies in major empires over the last 500 years, he sees the same patterns repeating "like a movie." It all boils down to five specific forces that interact-money and debt, domestic politics, world order, nature, and technology, Dalio said. Every issue today sits within the interaction of these forces and their long-term cycles, he said.

They're displaying a fascinating set of personality traits that go much deeper than having their finances sorted. 1) They have exceptional impulse control Think about what it takes to always have exact change ready. You need to resist the urge to spend those coins on vending machines or leave them as tips. You have to plan ahead, knowing what you'll buy and preparing accordingly.

When Serena Williams strode onto the Wimbledon grass, her legendary power was never in question. Her serve was crushing. Her backhand was unstoppable. But she wouldn't go to the net. She'd see a short ball, the kind that screams "approach," and she would hesitate to volley and miss the point. Serena was not playing at her full potential because of a story in her head.