Some things are easier to automate than others, and while the automated process is generally cheaper to perform than the not automated equivalent, it usually requires some up front investment. This leads to a disparity in what tasks get automated.

Interesting write up on the state of the Future of Work space from MIT. While there isn’t a lot new in there, its an excellent survey of the major trends and thinking across business and policy. 

In an airport today I saw an ad for the second collected notes on the Chinese system of government by Xi Jinping. I appreciate there is a purpose to this kind of writing beyond sharing actual principles of governance, but the idea of a sitting leader describing their governing principles is an interesting one.

I read an excellent book some years back, Specialization & Trade by Arnold King that reframed the basic economic principles around those to factors, and the ladder of progress they created. It’s a compelling argument that I (think!) I’ve largely internalised, but in terms of a practical experience, I continually underestimate the power and effectiveness of proper specialisation. 

A good brand can increase the value of a product. Aswath Damosaran I recall used the example of Coca Cola’s margins being significantly higher  than that of a Canadian soft drinks producer as being driven by the power of the brand. Companies invest significant time and money in their brand, even well outside of FMCG, because of the sustainable, defensible advantage that comes with a strong brand. 

Interesting discussion today on autonomy within teams - there is a strong propensity to grant subteams autonomy, as long as they do exactly what the team leadership want. 

I was thinking through waste in a simple production-consumption model, and got a little stuck when considering an aspect of waste on the consumption side.  

A lot of waste and unhappiness in people’s work comes when they are let down by others, or they let other people down. 

Approaching a problem from a systems perspective means considering the structure, process and norms/incentives that support that problem, and not just focusing on the problem itself. 

In The Lessons of History, the Durants offer various takeaways from their extensive history of civilization. One comment that I found particularly interesting was on the importance of trade, and of the wealth and change in locations where trade is most effective.