Vol. II · No. 296
Established 2025

smallweb

Friday, October 23, 2026
174 writers in the library
a reading room for the unhurried web
Economics · Long read

Will bystander economies be able to finance their governments?

From Jesús Fernández-Villaverde: Will AI poison the public finances of many modern states? There is a real risk that it will. Yesterday, I circulated a new paper, “Saving for the Machines,” which makes a simple point. Building the AI transformation will require enormous investment. The only way to i...

  1. Culture

    Four years of ignorance, cupidity, and spleen

    Numb at the Lodge Oct 23
  2. Life

    The Wildest Bet Is the Winning Bet

    The Marginalian Oct 23
  3. Tech

    Introducing Machine Gods

    Platformer Oct 23
Ten shelves · 50 essays

The Reading Room

Life · Feature

The Wildest Bet Is the Winning Bet

We place life’s bets by countless calculations of probability, conscious and unconscious, only to discover over and over how short they fall of the wildest reaches of the possible, which always includes but exceeds the probable. It helps to remember that we ourselves are children of improbability, t...

From the Stacks

Five rediscoveries from the back issues, rotated by the day

Read slowly. There is no hurry.

  1. I. Economics

    On *Stubborn Attachments* and religion (from my email)

    Marginal Revolution Oct 9
  2. II. Finance

    Stock Prices, Earnings and Cashflows: The AI Effect plays through!

    Musings on Markets Oct 8
  3. III. History

    The Battle of All Poets and Authors

    The Abrahamic Metacritique Oct 2
  4. IV. Philosophy

    Contra Steven Pinker

    Bentham's Bulldog Oct 8
  5. V. Psychology

    Is Striving Cringe?

    Rob Henderson Oct 8
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