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Ah yes, indeterminate pessimism at work. The savings rate in China is 50% because in determinate pessimism you want to make sure you're prepared for the worst.
by rogerkirkness 4y ago
Ah yes, indeterminate pessimism at work. The savings rate in China is 50% because in determinate pessimism you want to make sure you're prepared for the worst.
- cweill 4y agoI see you've read Zero to One. :) Indeterminate pessimism also means they aren't taking economic risks, whereas many Gen-Z are becoming content creators or starting businesses with their savings, so it could be more determinate optimism. Possibly naive, but time will tell.
- rogerkirkness 4y agoGood point, if we reached superabundance I think media would stick with the world is ending narrative.
- spywaregorilla 4y agoSounds like a sharp contrast to the whole lying flat thing