Macroeconomics: The Future
Stagnant Real Wages and Secular Stagnation Are Not Closely Related: DeLong FAQ

Nicholas Foulkes: Jony Ive on the Apple Watch and Big Tech’s Responsibilities: "The Apple Watch is the latest in the bloodline of the totemic Apple products.... Sales are now such that Apple claims to be the number-one watch brand—though I question whether a wrist-worn device of this type is really a watch...

...His answer is surprising. "No, I think that this is a very powerful computer, with a range of very sophisticated sensors, that is strapped to my wrist. That’s neither very descriptive nor very helpful.” He laughs. “You and I share the same perspective and we had this same challenge with the product that we called the iPhone. Clearly the capability of the iPhone extends way beyond the function of what we would traditionally call a phone.” A glass of white wine lands on our table.... “If I compare my watch to this glass: the effort necessary to make this glass could be the product of one person, but the effort, expertise and collaboration to make this watch is daunting. It is an achievement that we are truly proud of: that you can work with an expert in sapphire crystals and figure out a way to create a form which has never been created before in sapphire crystal.” His voice is infused with a sense of wonder at the capabilities at his disposal...