Independent analysis of economics, technology, business, and public policy. Original essays informed by academic research, historical evidence, and data-driven reasoning.
Economics
Everyone watches the token price. It's the smallest, most-discounted, least-honest number in your stack — and it explains almost nothing about what an AI system actually costs to run.
From a struggling Korean chip firm to the world's largest DRAM producer, Samsung's semiconductor rise is a story of audacious strategy and relentless counter-cyclical investment.
In this article, we’ll explore how immigration affects both innovation and wages in the U.S., drawing on decades of studies. We’ll also compare how different researchers have tried to measure these effects—sometimes reaching very different conclusions. The goal is to make complex economics research accessible, so you can see what the evidence shows and why scholars sometimes disagree.