Atlas Shrugged: The Mocking

Friday, February 19, 2016

Click Bait

Remember when Megan McArdle said that income inequality is necessary for innovation and Scandinavian countries don't innovate because socialism? Matt Bruenig rebutted David "Megan McArdle is a brilliant economist" Brooks' similar claims and what do you know, our highly paid Big Thinkers are wrong, wrong, wrong.
In reality, the Nordic countries are more entrepreneurial than the US. The most common measure of entrepreneurial activity is the birth rate of employer enteprises, which is defined as the percentage of enterprises in a given year that are brand new. Here is the enterprise birth rate of the US and the Nordics in 2007 (Norway didn't have data):
Perhaps because of its high level of enterpreneurialism, the Nordic countries are among the most innovative in the world. They regularly score near the top of (admittedly flawed) innovation indexes. Stockholm is home to the hottest tech sector in the world after Silicon Valley (which is itself located in tax-loving California). In recent years, the Nordic countries have given the world Spotify, Skype, Mojang (maker of Minecraft), Rovio (maker of Angry Birds), Supercell (maker of Clash of Clans), and Klarna (cutting-edge fintech firm). The Nordic countries, led by Volvo, are also on the forefront of driverless car research and, led by Finland, on the forefront of mobile phone networking technology. The Nordics are also home, in Sweden, to the most successful pop music industry in the world
There's nothing sluggish about the Nordic startup and innovation scene. Nothing at all.
Too bad one can't say the same about McArdle.

Such lazy, stupid posts reveal something:  McArdle's employers don't care what she says as long as she attracts the 9% for advertisers. They expect and want her to be stupidly ideological and pathologically dishonest. She's a particularly smelly bait for a greedy, amoral fish--and it works like a charm.


ianmorris said...

notch may have had to pay more taxes on his Minecraft profits, but the social safety net was worth it. also have you seen how good rovio is doing.

Yastreblyansky said...

Nice. I quoted another disproof from Jordan Weissmann, in my own piece on that idiotic Brooks column. It's really like combating zombies who don't try to eat your brain but just tire it out.

Susan of Texas said...

That was a good post; I always learn a lot from your posts.

McArdle wrote about Sanders today, which inspired this post. I'm going to discuss that next; she's decided that she's going to claim Scandinavians are by nature more cooperative and trusting of each other because they are homogeneous. I'm not sure she understands that she's calling America racist.

Smut Clyde said...

because they are homogeneous.
No part of the world that contains Finns can be described as homogeneous.