Economic Tidbits

Hmmm (Holiday Bonus Edition)…

“That’s nearly $770,000 per week, $110,000 per day, $4,600 per hour, or $76 per minute . . . for the next 9 years.” Joe Pompliano@JoePompliano tweet commenting on Aaron Judge’s 9-year, $360 million agreement with the New York Yankees.

“Between 1000 and 1820, the average growth rate of global per capita GDP was extremely low, less than 0.05 percent per year. Between 1820 and 1870, it reached 0.5 percent and exceeded 3 to 4 percent from 1950 to 1973.” Aghion, Phillip; Antonin, Celione; and Bunel, Simon; The Power of Creative Destruction-Economic Upheaval and the Wealth of Nations. The Belknap Press of Harvard University Press. 2021.

“In 1982, there were just 93 breweries across the entire country. Last year, there were 9,247, according to the Brewer’s Association, an industry group. Craft beer output now accounts for 13% of total beer output and is growing at a hoppy rate of 8% per year, while sales of traditional beers are flat.” Beer sommeliers: Draught me in, The Economist , October 22nd, 2022.

“May God give you, for every storm, a rainbow; for every tear, a smile; for every care, a promise; and a blessing in each trial. For every problem life seems, a faithful friend to share; for every sigh, a sweet song, and an answer for each prayer . . .” Vin Scully.

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