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Fairly Recently: Must- and Should-Reads, and Writings... (May 21, 2019)

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A Year Ago on Equitable Growth: Twenty Worthy Reads from the Week Before May 24, 2018

Hoisted From the Archives**: Worth Reading from A Year Ago

Five Things Worthy at Equitable Growth:

  1. Austin Clemens and Heather Boushey: Disaggregating growth: "NIPA... were a radical advance in economic measurement when they were instituted.... The lack of data on how income is distributed is especially glaring now in the face of rapidly increasing economic inequality.... Instead of revolutionizing GDP, U.S. policymakers should evolutionize it... add an explicitly distributional component to GDP..."

  2. Hold it! Why does the spread of Microsoft Office shift workers away from "non routine analytic" and toward "routine cognitive and routine manual" tasks?: Enghin Atalay et al.: New technologies and the labor market: "Most new technologies are associated with an increase in nonroutine analytic tasks, and a decrease in nonroutine interactive, routine cognitive, and routine manual tasks.... Through the lens of the model, the arrival of ICTs broadly shifts workers away from routine tasks, which increases the college premium. A notable exception is the Microsoft Office suite, which has the opposite set of effects..."

  3. And I do think that grappling with the work and legacy of John Kenneth Galbraith is a very important but rarely operated railway line within economics. So I put a signpost to it here: Brad DeLong: Galbraithian economics: Countervailing power edition | Equitable Growth

  4. Is this a worthwhile and successful way of doing something roughly aligned with but substantially different from not only Mark Thoma but also Liz Hipple: Weekend Reading: a weekly post... with links to articles that touch on economic inequality and growth...? Brad DeLong: Worthy reads on equitable growth, May 10-17, 2018

  5. Jacob Robbins: How the rise of market power in the United States may explain some macroeconomic puzzles: "Surprising... facts about... growth and rising... inequality.... 1. Financial wealth has increased... despite no real increase in... investment.... 2. The financial value of many firms now is permanently higher than the cost of their assets.... 3. These more valuable firms haven’t invested more.... 4. The average rate of return on capital has stayed steady while interest rates have dropped. 5. The share of income going to labor... has declined.... The driving force behind them is an increase in monopoly power together with a decline in interest rates...

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Fairly Recently: Must- and Should-Reads, and Writings... (May 19, 2019)

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  1. Yes, Some People at the Ludwig von Mises Institute Think Churchill Was a War Criminal for Not Making Peace with Hitler in May 1940. Why Do You Ask?

  2. Ernst H. Kantorowicz: The Fundamental Issue: Documents and Marginal Notes on the University of California Loyalty Oath

  3. Robin Harris: The Bastards Say, Welcome: "The most famous computer ad that never ran was created for Data General.... After IBM announced the Series/1.... DG marketing came up with a rough draft of a 2-page ad: 'They Say IBM’s Entry Into Minicomputers Will Legitimize The Market. The Bastards Say, Welcome'...

  4. Muriel Dal-Pont Legrand and Harald Hagemann: Business Cycles in Juglar and Schumpeter􏰀: "One important difference is that for Schumpeter the classical business cycle is driven by technological innovations of medium size, whereas for Juglar the cause for an overheated boom is speculation fuelled by easy credit...

  5. Lucius Mestrius Plutarchus: Life of Tiberius Gracchus

  6. DS100: Principles and Techniques of Data Science

  7. Erik Wade: St. Bride's Day Massacre : "We had to kill the Vikings, because they bathed and brushed their hair and our wives couldn't resist such sophistication" is a HELL of a take by medieval English chroniclers: 'One thirteenth-century chronicle attributed a slaughter of Danes by Anglo-Saxons in 1002 to the former's irresistibility to the latter's spouses: "The Danes made themselves too acceptable to English women by their elegant manners and their care of their person. They combed their hair daily, according to the custom of their country, and took a bath every Saturday, and even changed their clothes frequently, and improved the beauty of their bodies with many such trifles, by which means they undermined the chastity of wives...

  8. Sam Lau, Joey Gonzalez, and Deb Nolan: Principles and Techniques of Data Science

  9. Lyall Taylor: The LT3000 Blog: Uber, Delusion, and Ride-Hailing's Structural Economic Inefficiency: "NYC and Silicon Valley based investors forget that the majority of the world doesn't live in these areas.... Every time I go back to New Zealand to spend time with my parents [I see] that private vehicle ownership isn't going to cease any time soon. Commuting with one's own car is cheap, reliable, fast, and comfortable. Why wait around for an expensive Uber when you can just whip yourself down the road to the local store or restaurant in 5 minutes, and park for free outside on the road or in designated parking areas outside?...

  10. AlphaChat: Kimberly Clausing Makes the Case for Open Economies

  11. Lumen Learning: The Bank War

  12. James A.Kahn and Robert W.Rich: _Trend Productivity Growth: "Through 2019Q1... with probability 0.93 productivity remains in a low-growth (1.33% annual rate) regime.... Productivity growth in 2019Q1 in the nonfarm business sector was 3.6% (annual rate), the highest rate in more than four years...

  13. I missed this when it came out three years ago: Melany De La Cruz-Viesca, Zhenxiang Chen, Paul M. Ong, Darrick Hamilton, and William A. Darity Jr.: The Color of Wealth in Los Angeles

  14. The full text is online. Go read it!: Heather Boushey, Ryan Nunn, and Jay Shambaugh: Recession Ready: Fiscal Policies to Stabilize the American Economy

  15. George A. Akerlof et al.: Exhibit A: "George A. Akerlof, Professor Susan Dynarski... and Professor Janet L. Yellen... regularly use and teach statistical analytical methods.... Amici have a wide range of views about the appropriateness of using race as a factor in college admissions. However, they share the view that Dr. Card is one of the most outstanding and respected scholars in the field of econometrics and applied economics, that his statistical analyses in this case were methodologically sound, and that the criticisms of his modeling approach in the Brief of Economists as Amici Curiae in Support of Plaintiff, Dkt. 450 ('Plaintiff’s Amici Br.'), are not based on sound statistical principles or practices...

  16. Jacob T. Levy: "Somehow this article never asks whether... maybe our experience with a president whose qualifications were 'playing a rich person on TV' and 'shouting on twitter' has some important lessons...

  17. Boing-Boing: Nebula Awards: "The Ray Bradbury Award for Outstanding Dramatic Presentation: Spider-Man: Into the Spider-Verse (Screenplay by Phil Lord and Rodney Rothman)...

  18. Leah McElrath: @leahmcelrath: "//begin sarcasm font// It’s absolutely totally okay to have no idea how many children our government has stolen from their parents. Just business as usual. //end sarcasm font// This is what we’re accepting now...

  19. Michael Bennet: Why We Need a Public Health Insurance Option: "I Got Lucky With My Cancer Treatment, But Many Americans Go Bankrupt. That's Why We Need a Public Option...

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Fairly Recently: Must- and Should-Reads, and Writings... (May 16, 2019)

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  • Yes, Societal Well-Being Depends on a Very Strong Distributional Bias Along the Lines of "To Each According to Their Need". Why Do You Ask?

  • PREVIEW: Economic Growth in Historical Perspective: U.C. Berkeley: Spring 2020

  • Note to Self: F--- you, @jack: "Quite stunning that you have developed such potentially useful tool, @jack, and yet have managed to make yourself so thoroughly my enemy, isn't it?...

  • Note to Self: Are all the cool kids still writing weekly email newsletters? If not, why no longer? If so, why?...

  • Twitter Thread: On Thomas Jefferson's Declaration: The problem with it rhetorically (which is only a very small part of the problem with it morally) is that it requires an extra paragraph: "He tempted us, and we fell, and now we are in a horrible spot. And now he is trying to make their and our situation worse by sparking a servile insurrection, with all its bloody and terrible consequences, upon these shores". But I do not know if he could say that paragraph, even to himself in his heart. And certainly the Constitutional Convention would not say it...

  • Twitter Thread: On Peng Dehaui: "In 1970 Peng was formally tried and sentenced to life imprisonment, and he died in prison in 1974...

  • Twitter Thread: On James Buchanan: "If you are hanging with Mt. Pelerin, with its Lykourgan moments and its "the merit that Fascism has thereby won for itself will live on eternally" and "by the slogan that 'it is not your fault' that the demagoguery of unlimited democracy, assisted by a scientistic psychology has come to the support of those who claim a share in the wealth of our society without submitting to the discipline to which it is due", either you dissent strongly and sharply or... we read between the lines...

  • Comment of the Day: John Howard Brown: "Most white males don't experience their lives as privileged. If anything, they feel less privileged than their fathers.... Too bad that so many 'Baby Boomers' got scared by the inflation monster in the 1970s...

  • Comment of the Day: Howard: "Graduated high school in Allentown, PA in 1970.... White males like me who didn't go to college expected to find life-long work and reasonable pay at Bethlehem Steel, Mack Truck, or the Western Electric Plant. All those jobs are long, long gone...

  • Comment of the Day: Robert Waldmann: "Why promise inflation after the recession rather than produce inflation now when monetary policy isn't at the zero lower bound? Is it really likely that people could be convinced that the Fed will accept inflation over 2% some years after then next time we are in the liquidity trap when it demonstrates that it won't accept it right now? They should walk the walk, not just pre-commit to possibly talking the talk at some time in the indefinite future. Still progress...

  • Weekend Reading: Joseph Schumpeter (1927): The Explanation of the Business Cycle

  • Weekend Reading: Raymond Aron (1955): Nations and Ideologies

  • Weekend Reading: Samuel Brittan (1980): Hayek, the New Right, and the Crisis of Social Democracy


  1. Martin Wolf: How the Long Debt Cycle Might End: "Start then with inflationary fire. Much of what is going on right now recalls the early 1970s: an amoral US president (then Richard Nixon) determined to achieve re-election, pressured the Federal Reserve chairman (then Arthur Burns) to deliver an economic boom. He also launched a trade war, via devaluation and protection. A decade of global disorder ensued. This sounds rather familiar, does it not?...

  2. Charlotte Ahlin: The 'Game Of Thrones' Survival Odds For The 5 Characters Who George R. R. Martin Said Would Make It To The End: "TV Bran stands a pretty good chance of surviving.... Survival chances: 9.5/10. No one cares enough to kill him anymore.... Good luck to anyone foolish enough to try and kill Arya Freaking Stark.... Survival chances: 7/10. 'Not today'.... TV Tyrion... will probably survive to be the power behind whoever ends up on the throne... but a Tyrion death scene would give us one hell of a gut punch in the series finale. Survival chances: 6/10. Leave our boy alone, Bronn!... TV Dany... yikes. Her babies are dropping like (dragon)flies.... Survival chances: 3/10. Dracarys.... TV Jon is everyone's top pick for Special King Boy.... But... honorable Stark men don't fare all too well down south.... Survival chances: 8/10. It's his game to lose...

  3. Barry Ritholtz: Index Funds Don’t Hurt Consumers, But Monopolies Do - Bloomberg: "Critics of passive investing blame the wrong thing for higher prices in some industries...

  4. Minxin Pei: Is Trump’s Trade War with China a Civilizational Conflict?: "Recent remarks by a senior Trump administration official suggest that the United States' current approach to China is dangerously misconceived. The rise of China under a one-party dictatorship should be met with a united front in defense of the liberal order, not talk of a clash of Caucasian and non-Caucasian civilizations...

  5. University of Wisconsin Oshkosh: Marianne Johnson: "Dr. Johnson's research focuses on the history of public economics and public choice, particularly as related to public goods and public policy decision-making. She currently serves on the editorial boards of the Journal for the History of Economic Thought and Oeconomica. Dr. Johnson recently finished a five year term as co-editor for Research in the History of Economic Thought and Methodology. Dr. Johnson is the secretary for the History of Economics Society and former president of the Wisconsin Economics Association...

  6. Christopher Monroe: Quantum Computing Is a Marathon Not a Sprint

  7. Josh Brown: The Book That Changed My Life: "The 20th anniversary of Simple Wealth, Inevitable Wealth.... Nick Murray has taught thousands of financial advisors about the inherent dignity of our careers...

  8. Golden Gate National Recreation Area (U.S. National Park Service): Fort Baker: "Fort Baker, the 9th and final 'Post-to-Park' conversion in the Golden Gate National Parks, is a 335 acre former 1905 U.S. Army post located immediately north of the Golden Gate Bridge. This hidden gem of a site consists of over 25 historic army buildings clustered around a main parade ground, a sheltered harbor protected by a jetty, a number of historic gun emplacements, and trails and forested areas climbing gently up from San Francisco Bay...

  9. Cavallo Point Resort: The Luxury Hotel at the Golden Gate

  10. Ludwig von Mises: Dictatorships and Double Standards: "Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization. The merit that Fascism has thereby won for itself will live on eternally in history...

  11. Ludwig von Mises: The First Lesson About Conservative Thinkers Is That They All Rot in One Generation or Less...: "The socialists are coming with a plan to equalize gender relationships–and by making the wife an equal of the husband it is only a matter of time until the worker seeks to be the equal of the boss, and with sex itself freely shared among consenting equals how can we even maintain the idea of 'private property'?...

  12. Ludwig von Mises: The First Lesson About Conservative Thinkers Is That They All Rot in One Generation or Less...: "The pseudo-democratic movement endeavours... to make the strong equal to the weak, the talented to the untalented, and the healthy to the sick.... The radical wing of the women’s movement seeks to make women the equal of men…. But the difference between sexual character and sexual destiny can no more be decreed away than other inequalities of mankind...

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Fairly Recently: Must- and Should-Reads, and Writings... (May 10, 2019)

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  1. Robert Kuttner: Karl Polanyi Explains It All

  2. Wikipedia: Friedrich von Hayek: "In August 1926, Hayek married Helen Berta Maria von Fritsch (1901–1960), a secretary at the civil service office where Hayek worked, on the rebound upon hearing of his cousin's marriage. They had two children together. Upon the close of World War II, Hayek restarted a relationship with his cousin, who had married since they first met, but kept it secret until 1948. Hayek and Fritsch divorced in July 1950 and he married his cousin Helene Bitterlich (1900–1996) just a few weeks later after moving to Arkansas to take advantage of permissive divorce laws. His wife and children were offered settlement and compensation for accepting a divorce. The divorce caused some scandal at LSE where certain academics refused to have anything to do with Hayek.] In a 1978 interview to explain his actions, Hayek stated that he was unhappy in his first marriage and as his wife would not grant him a divorce he had to enforce it. He rarely visited his children after the divorce...

  3. Peter Kafka: Disney says its over $400 million Vice investment is now worthless - Vox: "A now-familiar story: Investors say they overvalued a high-flying digital publisher...

  4. Amrita Chakrabarti Myers: The Erasure and Resurrection of Julia Chinn: "The main house at Johnson’s Blue Spring Farm is gone.... On the right-hand side... stands an antebellum-era building... so overgrown with weeds, grasses, and brush that it is barely visible... but it looks sturdier than the Choctaw Academy school building. It is believed to have been one of the slave cottages or a kitchen building at Blue Spring.... On the other hand, just a few miles away, thousands of visitors annually stream through the impeccably maintained gardens and halls of Ashland, the home of Henry Clay.... The contrast between the two sites couldn’t be any starker. And the difference has everything to do with race. Make no mistake: Richard’s decision to live publicly with Julia and their children, Imogene and Adaline, and Henry’s decision to hide his black 'mistresses' in the slave quarters and sell their offspring downriver to New Orleans, played enormous roles in how the two men are remembered today...

  5. Michael Staub: The Mismeasure of Minds: "Seeking to wipe away forever the fake science of The Bell Curve.... The book’s analysis refuses to die, animated by already existing racial resentment in U.S. politics and culture and helping to fuel more in its turn...

  6. Samuel Brittan (1980): Hayek, the New Right, and the Crisis of Social Democracy

  7. Robert Waldmann Has an Interpretation of Karl Marx that Is New to Me...: I tend to read Marx as a Christian heretic--as writing in an eschatological mode in which the time when "labor has become not only a means of life but life's prime want; after the productive forces have also increased with the all-around development of the individual, and all the springs of co-operative wealth flow more abundantly" is exactly as real and near to him as the expectation of Paul of Tarsus that someday soon: "we which are alive and remain shall be caught up together with them in the clouds, to meet the Lord in the air: and so shall we ever be with the Lord..." (1 Thess. 4:17). Robert disagrees, and hears a sneer whenever Marx says "come the Millennium" that I cannot...

  8. Hayek and the "Shut Up and Be Grateful You Were Even Born!" Argument: I ran into a passage that makes me wonder whether Hayek in his inner core believed that democracy had any value—even any institutional value—at all.... "Egalitarianism is of course not a majority view but a product of the necessity under unlimited democracy to solicit the support even of the worst.… It is by the slogan that 'it is not your fault' that the demagoguery of unlimited democracy, assisted by a scientistic psychology, has come to the support of those who claim a share in the wealth of our society without submitting to the discipline to which it is due. It is not by conceding 'a right to equal concern and respect’ to those who break the code that civilization is maintained…" Now it is certainly true that of the trio "Prosperity, Liberty, Democracy," Hayek puts prosperity first and liberty second—or, rather, that freedom of contract needs to be more closely safeguarded than freedom of speech, for if there is freedom of contract then freedom of speech will quickly reappear, but if there is no freedom of contract than freedom of speech will not long survive. But the passage above makes me wonder whether democracy has any place in Hayek's hierarchy of good things at all...

  9. Hansard: Army Council and General Dyer(8 July 1920)

  10. H. Clay and Richard L. Troutman: The Emancipation of Slaves by Henry Clay

  11. Mark Thoma: Economist's View: Links (5/8/19): "Competitive Edge: Principles and presumptions for U.S. vertical merger enforcement policy: Antitrust and competition issues are receiving renewed interest, and for good reason. So far, the discussion has occurred at a high level of generality. To address important specific antitrust enforcement and competition issues, the Washington Center for Equitable Growth has launched this blog, which we call “Competitive Edge”...

  12. Joakim Book: Mr. Darcy’s Ten Thousand a Year

  13. Susie Madrak: Rep. Escobar: 'We Have A President Who Has Created An Addiction To Hate': "I'll tell you, that clip, when I saw it last night, it made me very, very sad, very sad for our country, that we are at such a moral rock bottom," Rep. Escobar said...

  14. Nancy LeTourneau: Why Is Trump So Afraid of Mueller?: "The fact that the Commander in Chief is describing an investigation conducted by his own administration as “treasonous” ranks right up there with some of the worst. Why would Trump be so afraid of what Mueller has to say, especially when he claims that the special counsel’s report totally vindicated him? It could be because Mueller has earned a tremendous amount of political capital by conducting himself as the consummate professional surrounded by a sea of angry lunatics otherwise known as the Trump administration...

  15. Paul Mason: Reading Arendt Is Not Enough: "Arendt’s descriptions of the dynamics of totalitarian movements hold good—... [but] her explanations for them do not.... If Trump has triggered a crisis of progressive thought, it is in particular a crisis for the cult of Hannah Arendt. The United States of America was her last and enduring hope: the only political institution on earth that was supposed to be immune to totalitarianism, nationalism, and imperialism...

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Fairly Recently: Must- and Should-Reads, and Writings... (May 6, 2019)

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  1. Britannica.com: Fasces

  2. George Orwell* (1937): The Road to Wigan Pier

  3. This Time It Is Not Different: Walter Bagehot and the Persistent Concerns of Financial Macroeconomics: Origins of Central Banking: E.M. Forster's Great Aunt Marianne

  4. Peter Temin (1990): _Soviet and Nazi Economic Planning in the 1930s

  5. Hans-Peter Ullmann: Organization of War Economies

  6. EMB Numbers: Why are Red and Purple "Next to Each Other"?: "I make colored paint by starting with white and adding varying amounts of pigments from my three buckets, CMY. To see 'purple' I add pigment only from the magenta bucket.... I add cyan to magenta to get blue. I add yellow to magenta to get red. Therefore, it makes sense for red and blue to be adjacent on opposite sides of magenta...

  7. Adolf Hitler (1941): Top 10 Quotes from World War II: "You only have to kick in the door and the whole rotten structure will come crashing down...

  8. Online Etymology Dictionary: Nazi

  9. John Maynard Keynes (1936): The General Theory of Employment, Interest and Money: Concluding Notes on the Social Philosophy Towards Which the General Theory Might Lead: "If effective demand is deficient, not only is the public scandal of wasted resources intolerable, but the individual enterpriser who seeks to bring these resources into action is operating with the odds loaded against him. The game of hazard which he plays is furnished with many zeros, so that the players as a whole will lose if they have the energy and hope to deal all the cards. Hitherto the increment of the world’s wealth has fallen short of the aggregate of positive individual savings; and the difference has been made up by the losses of those whose courage and initiative have not been supplemented by exceptional skill or unusual good fortune. But if effective demand is adequate, average skill and average good fortune will be enough...

  10. John Maynard Keynes (1936): The General Theory of Employment, Interest and Money: Concluding Notes on the Social Philosophy Towards Which the General Theory Might Lead: "Whilst, therefore, the enlargement of the functions of government, involved in the task of adjusting to one another the propensity to consume and the inducement to invest, would seem to a nineteenth-century publicist or to a contemporary American financier to be a terrific encroachment on individualism. I defend it, on the contrary, both as the only practicable means of avoiding the destruction of existing economic forms in their entirety and as the condition of the successful functioning of individual initiative...

  11. John Maynard Keynes (1936): The General Theory of Employment, Interest and Money: Concluding Notes on the Social Philosophy Towards Which the General Theory Might Lead: "The result of filling in the gaps in the classical theory is not to dispose of the ‘Manchester System’, but to indicate the nature of the environment which the free play of economic forces requires... There will still remain a wide field for the exercise of private initiative and responsibility. Within this field the traditional advantages of individualism will still hold good.... These advantages are... partly advantages of efficiency... decentralisation and of the play of self-interest.... Above all, individualism, if it can be purged of its defects and its abuses, is the best safeguard of personal liberty in the sense that, compared with any other system, it greatly widens the field for the exercise of personal choice. It is also the best safeguard of the variety of life, which emerges precisely from this extended field of personal choice, and the loss of which is the greatest of all the losses of the homogeneous or totalitarian state. For this variety preserves the traditions which embody the most secure and successful choices of former generations; it colours the present with the diversification of its fancy; and, being the handmaid of experiment as well as of tradition and of fancy, it is the most powerful instrument to better the future...

  12. Jacob Viner (1937): Mr. Keynes on the Causes of Unemployment: "In a world organizedin accordance with Keynes' specifications there would be a constant race between the printing press and the business agents of the trade unions, with the problem of unemployment largely solved if the printing press could maintain a constant lead and if only volume of employment, irrespective of quality, is considered important...

  13. J.R. Vernon: Unemployment Rates in Postbellum America: 1869-1899

  14. Julia Carrie Wong: 'I See Any Dinosaur, I Buy It': At Home with the Embattled Owner of the Flintstone House: "Florence Fang’s colorful home is a landmark for many in California’s Bay Area. But the town of Hillsborough is suing her, declaring the property a ‘public nuisance’...

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Fairly Recently: Must- and Should-Reads, and Writings... (May 3, 2019)

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  1. John Maynard Keynes (1919): The Economic Consequences of the Peace

  2. Jérémie Cohen-Setton, Egor Gornostay, and Colombe Ladreit:: The Aggregate Effects of Budget Stimulus: Evidence From the Large Fiscal Expansions Database: "Large, persistent, and positive effects of fiscal stimulus on GDP with a decrease in net exports that only partly offsets the increase in private domestic demand.... suggestive evidence that fiscal policy is more effective in a slump than in a boom...

  3. Noah Smith: Why Macroeconomist Emi Nakamura Deserves John Bates Clark Medal - Bloomberg: "The John Clark Bates Medal almost never goes to a macroeconomist. Emi Nakamura is a worthy exception...

  4. Greg Ip: For Lower-Paid Workers, the Robot Overlords Have Arrived: "Software and algorithms are used to screen, hire, assign and now terminate workers...

  5. Jessica M. Goldstein: Behind the Scenes with Alexandria Ocasio-Cortez Before Anyone Knew Her Name: "Rachel Lears' documentary 'Knock Down the House' captures a political phenom on the rise—and three other women running for office for the first time...

  6. Jason Kottke: Grace Hopper Explains a Nanosecond: "In this short clip from 1983, legendary computer scientist Grace Hopper uses a short length of wire to explain what a nanosecond is...

  7. Steve M.: The Rot In The Republican Party Started Long Before Fox 'News' And Trump: "Sorry James Comey, but William Barr didn't need to spend time with Donald Trump to become who he is now...

  8. byu/cil3x: MacBook Pro Keyboard Failures: Why Apples dust excuse is bullshit! [Teardown + Explanations] : apple: "What the actual cause is, honestly I don't know. My suspicion is that the metal dome experiences metal fatigue and slowly begin to lose connection, or that that little U-shaped cutout in the centre of the dome weakens and starts to easily bounce when pressed, making contact 2+ times.... Always have AppleCare, even if paying extra to cover a flaw that should be properly dealt with is morally questionable and a shitty thing to do...

  9. John Maynard Keynes: Obituary for Alfred Marshall: "Economics does not seem to require any specialised gifts of an unusually high order.... An easy subject, at which very few excel!...

  10. Forrest Capie: Money and Business Cycles in Britain, 1870–1913

  11. Joseph Schumpeter (1927): The Explanation of the Business Cycle

  12. Matthew Yglesias (2011): Demand Denialism: "Frédéric Bastiat... his 'What Is Seen And What Is Not Seen', which I’ve seen a lot of people cite as the foundation for their opposition to stimulus policies. It’s an extremely insightful essay, but I think the correct way to understand it is as precisely laying down the theoretical conditions in which stimulative policies do work...

  13. Deficit Denialism: Frederic Bastiat Actually Favored Expansionary Fiscal Policy in Recessions Edition: It has always seemed to me that very, very, very few of the people who cite Frederic Bastiat have actually read him. Most have not even read all of "What Is Seen and Unseen". For example: "There is an article in the Constitution which states: 'Society assists and encourages the development of labor.... through the establishment by the state, the departments, and the municipalities, of appropriate public works to employ idle hands'. As a temporary measure in a time of crisis… this intervention… could have good effects... as insurance. It… takes labor and wages from ordinary times and doles them out, at a loss it is true, in difficult times...

  14. Why Can't More People Actually Read Frederic Bastiat?: John Holbo's jaw drops as he reads Alex Tabarrok praise the carried interest rule.... Indeed, Alex Tabarrok does crawl out on a limb and applaud all tax loopholes as islands of freedom on the road to serfdom.... I would say that, in a democracy, one pays a progressive share of one's income to fund the many useful and convenient services and actions the government undertakes.... Methinks Frederic Bastiat would have agreed with me: "Often, nearly always if you will, the government official renders an equivalent service to John Goodfellow. In this case there is... only an exchange.... I say this: If you wish to create a government office, prove its usefulness."... Frederic Bastiat. I wonder how many people really read him these days?...

  15. Karl Marx (1857): The Bank Act of 1844 and the Monetary Crisis in England

  16. This Time It Is Not Different: Walter Bagehot and the Persistent Concerns of Financial Macroeconomics: Origins of Central Banking: E.M. Forster's Great Aunt Marianne

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Fairly Recently: Must- and Should-Reads, and Writings... (May 1, 2019)

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  1. Lindsey Graham: CNN New Day: “You Know How You Make America Great Again? Tell Donald Trump To Go To Hell”:n "Trump’s a Race-Baiting, Xenophobic, Religious Bigot. He Doesn’t Represent My Party. He Doesn’t Represent The Values That the Men And Women Who Wear the Uniform are Fighting For...

  2. Ben Thompson: Microsoft, Slack, Zoom, and the SaaS Opportunity: "For all of the disruption that the enterprise market has faced thanks to the rise of software-as-a-service (Saas), Microsoft was remarkably well-placed to take advantage of this new paradigm, if only they could get out of their own way...

  3. Charlie Stross: [Social Architecture and the House of Tomorrow(http://www.antipope.org/charlie/blog-static/2019/04/architecture-and-the-house-of-.html): "The bedroom, wardrobe, bathroom, and some type of food storage/preparation area, aren't going away. Other spaces will also be around, and social/spatial insulation will be in demand. At the high end, the elite (whoever they are) will try to ape the living arrangements of previous century's elites, as a status signal if nothing else. What else is conceivable? What am I missing that should be as obvious as the multimodal shipping container in 1950, or photovoltaic panels on house rooftops in 1990?...

  4. Students who come to a country to study are one of the most important elements of any country's soft power: they should be encouraged and cosseted. They become its friends. And God knows the Britain that Cameron and May have made will need lots of friends: Financial Times: British Universities and the Brexit Dimension: "Britain’s universities are a rare export success for its services-driven economy.... As well as the monetary benefits the UK gains soft power and ties of affection with future business leaders, technocrats and politicians. Whatever happens, Britain will need these friends...

  5. Neil Turok: The Astonishing Simplicity of Everything

  6. Amrita Chakrabarti Myers: The Erasure and Resurrection of Julia Chinn, U.S. Vice President Richard M. Johnson’s Black Wife

  7. David Mills: The Vice President and the Mulatto: "Race, sex and politics in 19th-Century America.... Brenda Gene Gordon, a 67-year-old white woman in Chandler, Ariz.... How on earth could Brenda Gordon not have known that her great-great-great-grandfather was Vice President Richard M. Johnson? Wasn’t this fact passed proudly from generation to generation inside her family? No, it was not.... Julia Chinn... was, by law, a Negro. And in Johnson’s time (not to mention since), this was scandalous. 'I grew up never hearing the names Richard M. Johnson (even in Kentucky history classes) or Julia Chinn', Mrs. Gordon wrote to me during a recent email exchange...

  8. Henry R. Robinson: An Affecting Scene in Kentucky

  9. Abigail Adams: Letter to John Adams, 31 March - 5 April 1776

  10. Wikipedia: Otto Bauer

  11. I would suggests to Senator Rick Scott—indeed, I would suggest to all the Republican senatorså—that this is sufficient reason to vote against Stephen Moore, unless this is the face the REpublican Party wants to put forward to minority voters for the next two generations: Margaret Hoover: Firing Line: "Stephen Moore explains his 2016 joke about Donald Trump moving into the White House and kicking 'a black family out of public housing'. Moore says, 'That is a joke I always made', adding he didn’t mean it 'like a black person' lived there. 'I shouldn’t have said it', he says...

  12. Ella Nilsen: Infrastructure: Trump and Democrats’ maybe-doomed meeting on infrastructure, explained - Vox: "2 trillion in the nation’s roads, bridges, and rural broadband, according to Democratic leaders.... Democrats are thrilled with that number; Republicans likely won’t be. Trump himself admitted his plan 'may not be typically Republican', according to the source...

  13. Emily Stewart: How Occupy Wall Street Animated Bernie Sanders, AOC, and the Left: "Occupy Wall Street was seen as a failure when it ended in 2011. But it’s helped transform the American left...

  14. Nisha Gopalan: China's Bay Area Plan Has Holes, Concerns for Hong Kong: "The plan gives scant detail on how Hong Kong and Macau will be integrated without eroding their special status.... Late Monday, the official Xinhua News Agency released details of the State Council’s Greater Bay Area plan—a project to knit together Hong Kong and Macau with nine mainland cities into a global innovation hub to rival California’s Silicon Valley. The trouble is, there’s little new on how authorities plan to make this grand vision into a reality...

  15. The Hoarse Whisperer: "The last time Barr engineered a cover-up, people didn’t have cellphones, e-mail or the internet. He’s the caveman of coverups. No wonder he’s so bad at it...

  16. Katherine Eriksson, Katheryn Russ, Jay C. Shambaugh, and Minfei Xu: Trade Shocks and the Shifting Landscape of U.S. Manufacturing

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (May 1, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 28, 2019)

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  1. Adam Schiff: The Barr S---show: "Russians were engaged in a systemic effort to interfere in our election; the Trump campaign welcomed it, embraced it, built it into their plan, made full use of it, lied about it, covered it up, and then obstructed the investigation into it...

  2. Alan Rappeport: Stung by Trump’s Trade Wars, Wisconsin’s Milk Farmers Face Extinction: "The Voelker dairy farm in Wisconsin sold off most of its cows this year as economic and technological forces, including President Trump’s trade war, take a toll on the dairy industry.... The flagship industry in a pivotal swing state faces an economic crisis.

  3. Paul Krugman: The Great Republican Abdication: "The modern G.O.P. is perfectly willing to sell out America if that’s what it takes to get tax cuts for the wealthy...

  4. Abigail Disney: "Let me very clear. I like Bob Iger. I do NOT speak for my family but only for myself. Other than owning shares (not that many) I have no more say in what happens there than anyone else. But by any objective measure a pay ratio over a thousand is insane...

  5. Emma Newburger: Steve Schwarzman: Raise Minimum Wage, Eliminate Taxes for Teachers: "Blackstone CEO and Chairman Steve Schwarzman outlines a 'Marshall Plan' for the middle class to address increasing income inequality in America. The billionaire private equity titan and supporter of President Donald Trump pointed to three main pillars of the plan: a higher minimum wage, more resources for technical training programs in schools and the elimination of taxes for teachers. 'What we have is less an issue of income inequality than income insufficiency for the bottom 50% of the society', he says...

  6. Ray Dalio: Why and How Capitalism Needs to Be Reformed)

  7. Bloomberg: Quadriga’s Downfall Began When Founder Abruptly Fired All The Exchange’s ‘Law And Order’ Folks, Former Lawyer Says: "Christine Duhaime says Gerald Cotten decided one day in 2016 he no longer wanted the crypto exchange to be a listed company...

  8. Dan Margolies and Celia Llopis-Jepsen: Kansas Supreme Court Rules State Constitution Protects Right To Abortion

  9. Wikipedia: More Cowbell

  10. Walter Laquer: On Thomas Mann's "Reflections on a Non-Political Man: "The war was totally justified, a genuine popular cause... Germany had been driven into the war by its envious adversaries. But it was also a necessity ('fate'), for the prewar world had been deeply corrupt, not worth preserving. War was a tremendous creative event, it brought about national unity and moral elevation. These basic ideas (of the early war years) were coupled with violent attacks against the decadent West: against France which had a democratic civilization but no culture; against the British who wanted to re-educate Germany using Gurkhas and Hottentots...

  11. Gwern: Spaced Repetition

  12. Branko Milanovic: Shadows and Lights of Globalization: "Today’s globalization and its effects, positive and negative, as in many ways a mirror-replay  of the first globalization that took place from the mid-19th century to the First World War...

  13. Michael Nielsen: Augmenting Long-Term Memory

  14. Wikipedia: Ian Richardson

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 28, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 26, 2019)

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  • April 26, 2019: Weekly Forecasting Update: The right response to almost all economic data releases is: Nothing has changed—your view of the economic forecast today is different from what it was last week, last month, or three months ago in only minor ways. Specifically, it is still the case that...

  • For the Weekend: Jessie J: Domino


  1. I would note that when Twitter blocks a Republican politician for being a Nazi, it is not making a mistake: the point of the tweet it blocks is to tiptoe up to the edge of Nazihood while still maintaining a smidgeon of implausible deniability. But algorithms are not good at detecting those speech markers meant to preserve implausible deniability: Joseph Cox and Jason Koebler: [Why Won’t Twitter Treat White Supremacy Like ISIS? Because It Would Mean Banning Some Republican Politicians Too(https://motherboard.vice.com/enus/article/a3xgq5/why-wont-twitter-treat-white-supremacy-like-isis-because-it-would-mean-banning-some-republican-politicians-too)_: "A Twitter employee who works on machine learning believes that a proactive, algorithmic solution to white supremacy would also catch Republican politicians...

  2. Vox Staff: 5 Years Of Vox, Explained by Our Staff

  3. Lauren Williams: Vox Turns 5: "Since its launch in 2014, Vox has gone through countless changes. One thing has stayed the same... a pristine clarity of purpose that’s translated across beats, platforms, and mediums. We explain. We give the context. We go deep. We put our audience first. On Vox’s fifth anniversary, this clarity of purpose is the throughline of our best work...

  4. Ariel Kalil, Catherine E. Born, James Kunz, and Pamela J. Caudill: Life Stressors, Social Support, and Depressive Symptoms Among First-Time Welfare Recipients

  5. Ashley Jardina: White Identity Politics Is About More than Racism: "We can’t mask the fact that we’re also talking about the protection and preservation of whites in the United States at the expense of racial and ethnic minorities.... I make this really crisp distinction between white identity and white racial prejudice.... There are a lot of white people who do have this sense of solidarity but who wouldn’t score particularly high on any social science measure of racial prejudice. For these whites, it’s about protecting their in-group and showing some sense of favoritism.... Most... would absolutely reject any association with white supremacist organizations, and yet in some instances, they do hold a lot of the same beliefs as some of these groups...

  6. Dao Nguyen: Cultural Cartography: "The people doing the something, reading or watching—what are they thinking?... What if, instead of tagging what articles or videos are about, what if we asked: How is it helping our users do a real job in their lives? Last year, we started a project to formally categorize our content in this way. We called it, 'cultural cartography'. It formalized an informal practice that we’ve had for a really long time: don’t just think about the subject matter; think also about, and in fact, primarily about, the job that your content is doing for the reader or the viewer...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 26, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 23, 2019)

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  1. Brandi Neal: Illustrator Tyler Feder's ‘Work-From-Home Fashions’ Cartoon Is Relatable AF: "I work from home and it's been about a month since I've done any laundry that's included pants with zippers. It's a relief to know I'm not the only one. Illustrator Tyler Feder gets it, and she created these work-from-home looks that are way too relatable...

  2. David Anderson: Oklahoma Medicaid Expansion Is on the Ballot: "Oklahoma activists are going the same route as Utah, Idaho and Nebraska activists successfully used in the 2018 election cycle: They are trying to get enough signatures to get Medicaid expansion on the ballot...

  3. Ron White (2010): You Can't Fix Stupid

  4. Pavithra Mohan: Who is actually middle class?: "It might not feel that way, but you might actually be upper middle class...

  5. Keith Whittington: Reckoning with the Mueller Report, Volume One: "That only one of Trump’s campaign managers found himself imprisoned in the aftermath of the election or that Donald Trump’s son-in-law thought it was a 'waste of time' when a meeting failed to deliver the promised incriminating Russian government files is no cause for celebration...

  6. Ben Thompson: Uber Questions Follow-up, Luminary Launches, Luminary’s Broken Rung: "I do feel bad that yesterday’s Weekly Article, Uber Questions, was so late; in this case, the article itself got at why: I spent hours upon hours trying to craft a narrative around the numbers I could pull from Uber’s S-1, before finally realizing I was wasting my time. There was going to be no water from that stone. So that ended up being my point: there simply wasn’t anything in the S-1...

  7. Wikipedia: 5 Nanometer: "In early 2018, TSMC announced production of a 5 nm node by 2020 on its new Fab 18. In October 2018, TSMC disclosed plans to start risk production of 5 nm devices by April 2019...

  8. Wikipedia: Mississippi State Penitentiary: "Mississippi State Penitentiary (MSP), also known as Parchman Farm, is a prison farm, the oldest prison, and the only maximum security prison for men in the state of Mississippi...

  9. Oliver Miller: 50 Quotes From The Movie Aliens, Ranked In Order Of Awesomeness

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 23, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 21-2, 2019)

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  • Across the Wide Missouri: Is tonight the Game of Thrones episode when Tony Stark shows up? Asking for a friend...

  1. Jeffrey Adam Sachs: The “Campus Free Speech Crisis” Ended Last Year: "The evidence for a chilling effect... is sketchy at best. By contrast, the evidence for a heating effect is quite robust. Many students explain that the only reason they choose to invite controversial speakers to campus is to challenge or provoke their classmates.... Turning Point USA and Young America’s Foundation proudly tout the ability of their speakers to 'trigger' liberal students. In fact, generating student outrage, even to the point of being deplatformed, has become such a badge of honor that some speakers are fabricating deplatforming incidents where none exist...

  2. Wikipedia: Evolution of Nervous Systems

  3. Wikipedia: Apple A12

  4. Joanna Stern: This Was Supposed to Be a Samsung Galaxy Fold Video Review: "Whatever You Do, Don't Peel The Screen.... WSJ's Joanna Stern had big plans to review Samsung's first foldable phone. Then other Samsung phone screens started breaking and she accidentally began to peel off the screen protector that's not really a screen protector. Here's her non-review...

  5. Dietrich Vollrath: Fully Grown: Why a Stagnant Economy Is a Sign of Success https://books.google.com/books?isbn=022666600X

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 21-2, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 21, 2019)

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  1. Hakeem Jeffries: "House Dems remain focused on lowering healthcare costs. We also have a constitutional responsibility to check and balance Individual-1. We will fully investigate the culture of corruption at 1600 Pennsylvania Ave...

  2. Dan Witters: U.S. Uninsured Rate Rises to Four-Year High

  3. Nicholas Thompson and Fred Vogelstein: 15 Months of Fresh Hell Inside Facebook: "Scandals. Backstabbing. Resignations. Record profits. Time Bombs. In early 2018, Mark Zuckerberg set out to fix Facebook. Here's how that turned out.... Zuckerberg plausibly declared that he knew nothing about Definers. Sandberg, less plausibly, did the same. Numerous people inside the company were convinced that she entirely understood what Definers did, though she strongly maintains that she did not. Meanwhile, Schrage, who had announced his resignation but never actually left, decided to take the fall. He declared that the Definers project was his fault; it was his communications department that had hired the firm, he said. But several Facebook employees who spoke with WIRED believe that Schrage’s assumption of responsibility was just a way to gain favor with Sandberg. Inside Facebook, people were furious at Sandberg, believing she had asked them to dissemble on her behalf with her Definers denials. Sandberg, like everyone, is human...

  4. Rob Price: Facebook Says It 'Unintentionally Uploaded' 1.5 Million People's Email Contacts without Their Consent: "If you entered your email password, a message popped up saying it was 'importing' your contacts without asking for permission first. Facebook has now revealed to Business Insider that it "unintentionally" grabbed 1.5 million users' data, and is now deleting it...

  5. Steven T. Dennis: Mitt Romney Mueller Report Reaction: 'Sickened' by Trump: "Senator cites ‘the extent and pervasiveness of dishonesty’.... 'I am sickened at the extent and pervasiveness of dishonesty and misdirection by individuals in the highest offices of the land, including the President'...

  6. Coming on Friday: BEA: News Release Schedule: "Gross Domestic Product, 1st quarter 2019 (advance estimate)...

  7. Matt Strassler: A Non-Expert’s Guide to a Black Hole’s Silhouette

  8. Matt Strassler: The Black Hole `Photo’: Seeing More Clearly

  9. Andy Matuschak and Michael Nielsen: Quantum Computing for the Very Curious |

  10. Andy Matuschak and Michael Nielsen: How the Quantum Search Algorithm Works: "This essay is an example of what Andy Matuschak and I have dubbed a mnemonic medium–it’s like a regular essay, but incorporates new user interface elements intended to make it almost effortless for you to remember the content of the essay...

  11. Pauline Grosjean

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Fairly Recently: Must- and Should-Reads, and Writings... (April 18, 2019)

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  • Note to Self: Is it really INBOX ZERO if one has snoozed 365 messages? Asking for a friend...

  • Comment of the Day: Tracy Lightcap: "Well, it had to happen sooner or later. Someone would resurrect Enoch Powell. Just to remind folks what people thought when he was still around: http://www.private-eye.co.uk/covers/cover-182. Yep. An unrepentant racist and a constant figure of fun for everyone with a head on their shoulders and anything resembling civic virtue...

  • Comment of the Day: Once again RJW is the first... and, I fear, perhaps the only... person on the internet to understand me: Robert Waldmann: Fascism: "'weapon-or-strong' should be 'weapon-our-strong'. Also great hyphenated fascism there. But then I read the Scruton quote. Ugh. Please don't do that again...

  • Comment of the Day: Robert Waldmann: "The problem, as you note, is that, when they are right, MMTers have a whole lot of company.... They may have contributed something... but you provide no evidence that they have...


  1. Legal Eagle: Real Lawyer Reacts to My Cousin Vinny

  2. Wikipedia: Michael Perelman

  3. William Shakespeare: Richard III

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 18, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 12, 2019)

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  1. Peter Diamond (1965): National Debt in a Neoclassical Growth Model

  2. Barack Obama: 2010 State of the Union

  3. 2 Thessalonians 3:10: "For even when we were with you, this we commanded you, that if any would not work, neither should he eat...

  4. 1 Corinthians 11:5: "But every woman that prayeth or prophesieth with her head uncovered dishonoureth her head: for that is even all one as if she were shaven. For if the woman be not covered, let her also be shorn: but if it be a shame for a woman to be shorn or shaven, let her be covered. For a man indeed ought not to cover his head, forasmuch as he is the image and glory of God: but the woman is the glory of the man. For the man is not of the woman; but the woman of the man. Neither was the man created for the woman; but the woman for the man. For this cause ought the woman to have power on her head because of the angels...

  5. Acts 4:34: "Neither was there any among them that lacked: for as many as were possessors of lands or houses sold them, and brought the prices of the things that were sold, and laid them down at the apostles' feet: and distribution was made unto every man according as he had need...

  6. 1 Enoch 7: "It happened after the sons of men had multiplied in those days, that daughters were born to them, elegant and beautiful. And when the angels, (3) the sons of heaven, beheld them, they became enamoured of them, saying to each other, Come, let us select for ourselves wives from the progeny of men, and let us beget children.... Then their leader Samyaza said to them; I fear that you may perhaps be indisposed to the performance of this enterprise; And that I alone shall suffer for so grievous a crime. But they answered him and said; We all swear; And bind ourselves by mutual execrations, that we will not change our intention, but execute our projected undertaking.... Then they took wives, each choosing for himself; whom they began to approach, and with whom they cohabited; teaching them sorcery, incantations, and the dividing of roots and trees. And the women conceiving brought forth giants, Whose stature was each three hundred cubits. These devoured all which the labor of men produced; until it became impossible to feed them; When they turned themselves against men, in order to devour them; And began to injure birds, beasts, reptiles, and fishes, to eat their flesh one after another, and to drink their blood...

  7. Kevin Hartnett: Mathematicians Discover the Perfect Way to Multiply: "By chopping up large numbers into smaller ones, researchers have rewritten a fundamental mathematical speed limit...

  8. Joe Light: The Tax Law’s Big Winner Is the Millionaire CEO: "Cutting the top marginal rate was always going to help the wealthy the most...

  9. Gene Birz: Stale Economic News, Media and the Stock Market: "I find statistically and economically significant relationship between stale news stories on unemployment and next week’s S&P 500 returns. This effect is then completely reversed during the following week. These findings show that investors are affected by salient information and support the hypothesis that investors overreact to stale macroeconomic news reported in newspapers...

  10. Angela Lashbrook: The Next Wellness Trend Should Be Google Spreadsheets: "How focused planning—and color-coded rows and columns—can make stress melt away...

  11. David Murphy: Lock Down Your Social Media Data With the PlusPrivacy Chrome Extension

  12. Talia Lavin: I wrote up a guide to what to do if you’re targeted by the right-wing smear machine. (Remember that your relative importance doesn’t matter AT ALL; they love crushing the defenseless even more.)...

  13. John Lovett: "See but ending the Skywalker saga gives us the movie we all want: PORGS vs. EWOKS: DAWN OF JUSTICE...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 12, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 10, 2019)

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  1. Does Inbox Zero count if one has snozzed 245 emails? Asking for a friend...

  2. No, I do not understand Netflix's valuation. And I do not understand what it was doing in "FAANG" in the first place. I suspect it was just Jim Cramer looking for a cute acronym, which is a hell of a way to run an porftfolio-assessment business: Tara Lachapelle: Netflix Valuation Tested by Disney, AT&T, Apple Apps: "Disney, AT&T and Apple are coming, and this time they are really bringing the heat...

  3. Sarah Halzack: Amazon Risks Missing Out on $35 Billion Click-and-Collect Market: "Big-box retailers are leading in click-and-collect services such as grocery pickup, and the gap may only widen...

  4. Command-Tab Plus: Application and Window Switching Done Right: "Hold Command and press Tab to display the active applications and then use the Tab key to cycle through your open apps...

  5. Olivier Blanchard: Public Debt and Low Interest Rates: "Seminar 237/281: 291 Departmental Seminar.... April 10 | 4-6 p.m. | 648 Evans Hall...

  6. Jeff Weintraub: Afterthoughts on the Communist Manifesto

  7. Max Nisen: Walgreens Earnings: Retail Apocalypse Now Threatens Drug Stores: "Prescription medications aren't as profitable as they used to be, leaving chains like Walgreens more exposed to industry headwinds...

  8. Ceteris Numquam Paribus: "This blog is for young economists, who want advice on how to proceed on their chosen path. Every week or so I'll bring you a short interview with an economist, giving suggestions on what to read, what to learn, and how to become an economist...

  9. Scott Lemieux: Our Green Lantern: "It’s getting hard to avoid the conclusion that Bernie is actually high on his own “our revolution will force Republican senators to vote for my agenda” supply...

  10. Joshua M. Brown: Is Economic Inequality a “National Emergency”?

  11. Robert Waldmann (2016): Dynamic Inefficiency

  12. CPPC: Senate Finance Committee Examines How PBMs Cause Higher Drug Prices: "Senator Wyden told the CEOs that 'you see there are not a lot of Democrats or Republicans holding rallies for spread pricing. Spread pricing is a rip off, plain and simple.' He asked them: if Congress proposes to ban spread pricing, will they support it? Three of the CEOs said yes they would, and the other two said they would remain neutral. For the first time, the Senate Finance Committee investigated PBMs and how they promote higher drug costs...

  13. Gramercy Park Hotel

  14. L'Express

  15. Sheisha Kulkarni

  16. John Le Carre: Tinker Tailor Soldier Spy (Novel) | Tinker Tailor Soldier Spy (Miniseries) | Tinker Tailor Soldier Spy (Film)

  17. Wikipedia: Ian Richardson

  18. Wikipedia: Colin Firth

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 10, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 6, 2019)

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  • Comment of the Day: John Howard Brown: "Property rights are always conditional on the allocation of social power! When the power of the Laird of a Scots clan depended on the number of clansmen who could wield pike and claymore...

  1. Wikipedia: Late Antique Little Ice Age

  2. Mark Bergen: YouTube Executives Ignored Warnings, Let Toxic Videos Run Rampant

  3. R. Leeson et al.: [, Hayek: A Collaborative Biography]: Influences from Mises to Bartley | The Hayekian Religion | The Chicago School of Economics

  4. C. E. Cubitt: A Life of Friedrich August von Hayek https://books.google.com/books?isbn=0755202430

  5. Wikipedia: Richard Neville, 16th Earl of Warwick

  6. Wikipedia: Tywin Lannister

  7. Wikipedia: John Mair

  8. Steve Knott: Battle of Gettysburg: Why J.E.B. Stuart Ends Up in Carlisle

  9. Wikipedia: Wilhelm Voigt: "The Captain of Köpenick, which shifts the focus from the event at Köpenick itself to the prelude.... The pitiful catch-22 situation of Voigt trying to earn his living honourably in Berlin: 'No residence address-no job. No job-no residence (rented room). No residence-no passport. No passport-getting ousted...

  10. Wikipedia: Walter Nicolai

  11. Adam Gopnik: How the South Won the Civil War | The New Yorker: "Now we think that the aftermath—the confrontation not of blue and gray but of white and black, and the reimposition of apartheid through terror—is what has left the deepest mark on American history. Instead of arguing about whether the war could have turned out any other way, we argue about whether the postwar could have turned out any other way...

  12. John Van Reenen: "Why @michaelgove is unfit to hold any public office:: When Justice minister he accused me and fellow academics (including some whose relations were in the Holocaust) of being "Nazi Scientists" for saying #Brexit would be costly...

  13. Matthew Townsend and Eric Martin: Who Is Winning Trump's Trade War with China? So Far, It's Mexico: "America’s imports from Mexico surge the most in seven years as Trump’s policies shift supply chains...

  14. Potch: There should be a hotline you can call where you can safely pronounce words you've only ever read out loud for the first time, and they say 'oh sweetie' and kindly explain how it's pronounced..." vagrantcow: "Google pronunciation is a thing. 2019 is on the phone, for you...

  15. Tom Joseph: The question why Mueller didn't recommend whether Trump should face Obstruction charges is baffling people. Punting the decision to HJC doesn't make sense either. The answer may be simple—Mueller knows Trump has dementia, which makes T's intent, responsibity & charges an unknown...

  16. Brian Krassenstein: "BREAKING: "Motel 6 will pay $12 million to settle a lawsuit by the Washington state attorney general over the lodging chain's practice of handing over guest lists to U.S. Immigration and Customs Enforcement agents...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 6, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 5, 2019)

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  1. Charlotte Edwardes: Sam Gyimah: I’m Still a Tory—It’s the Party I Joined That’s Changed: "He’s faced repeated deselections and a no-confidence vote—but Sam Gyimah won’t give up. Here, the MP talks about being ‘thrown to the wolves’ and how toxic Brexiteer infighting is threatening to tear the Conservatives apart...

  2. Brooke Masters: Want to Write a Piece for the Financial Times Opinion Page?: "Think about our readers.... Write what you know.... Write clearly and accessibly.... Use specific examples.... Be pithy and sharp...

  3. Paige Harden: "Pietro is being generous, when in fact I’m just trying to articulate something that’s been percolating for awhile... Let’s take genetics AND egalitarianism seriously. Begin there, and see where it takes us...

  4. Bart Demandt: China Car Sales Analysis January & February 2019: "The market for domestic passenger car sales in China continues its decline in 2019 with 8 consecutive months of declines from July 2018 to February 2019. With two months of double digit declines in January (-16,7%) and February (-17,6%), the market doesn’t seem able to recover soon...

  5. FOLD: What is FOLD?

  6. Read Irin Carmon at New York Magazine on how Baron, Wallsten, and Barr handled the pieces of her story about CBS honcho Jeff Fager's internal defense of Charlie Rose http://nymag.com/intelligencer/2019/04/what-was-the-washington-post-afraid-of.html. After reading it, if you read it as I read it, you will conclude that newspaper managers as easily bullied as Baron, Wallsten, and Barr are not useful in their current. I wrote so to Jeff Bezos. If you wind up agreeing with me, I urge you to write Bezos as well...

  7. Steve Moore: “I’m kind of new to this game, frankly, so I’m going to be on a steep learning curve myself about how the Fed operates...

  8. James LaPorta: Top Marine General Let Emails Leak Amid Border Funding Fight so Service Families Would Not Be Forgotten: Sources: "When asked why Neller would allow internal memorandums to leak to press outlets, one Defense Department source expressed bluntly, 'Because he didn’t want the Marines and families at Camp Lejeune [in North Carolina] to get f---ed.' Six months after Hurricane Florence first made landfall at Wrightsville Beach in North Carolina, roughly an hour southwest of Camp Lejeune, the base is still waiting on funding for repairs...

  9. Friedrich A. von Hayek: Hayek the Ethnic Bigot and the Perils of the Ad Hominem Fallacy: "I have no racial prejudices in general—but there were certain types, and conspicuous among them the Near Eastern populations, which I still dislike because they are fundamentally dishonest... a type which, in my childhood in Austria, was described as Levantine, typical of the people of the eastern Mediterranean.... I have a profound dislike for the typical Indian students at the London School of Economics, which I admit are all one type—Bengali moneylender sons. They are to me a detestable type, I admit, but not with any racial feeling. I have found a little of the same amongst the Egyptians—basically a lack of honesty in them...

  10. Matthew Buckley: "Back when America wasn’t a fascist ethnostate, this statement alone would have been grounds for impeachment. But that was when we were a nation of laws: Aaron Rupar: TRUMP threatens to close border with Mexico as soon as this weekend, then rants about immigration during Oval Office meeting with NATO secretary general: "What we have to do is Congress has to meet quickly & make a deal... to be honest with you, we have to get rid of judges...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 5, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (April 3, 2019)

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  1. Glory M. Liu: Research

  2. Wikipedia: Cara cara Navel Orange

  3. Glory M. Liu: Rethinking the “Chicago Smith” Problem: Adam Smith and the Chicago School, 1929–1980

  4. Paul Krugman (2013): The Neo-Paleo-Keynesian Counter-Counter-Counterrevolution

  5. Burnt Oranges with Rosemary

  6. Andrew M. Childs et al. (2002): Exponential Algorithmic Speedup by Quantum Walk: "We construct an oracular (i.e., black box) problem that can be solved exponentially faster on a quantum computer than on a classical computer.... We show how to implement the quantum walk efficiently in our oracular setting...

  7. Caffe Luxxe

  8. Barry Ritholtz: Math, Money, and Making a Difference: "MIT alumnus James Simons is a mathematician and founder of the highly quantitative investment firm Renaissance Technologies where he served as CEO for over 30 years before becoming board chair...

  9. Lucas Kwan Peterson: For Cramped New York, an Expanding Dining Scene: "In the city that never sleeps, as they say, the marquees of Times Square nearly make one forget the concrete dystopia of what is seemingly an unlivable urban wasteland. Surrounded by rats, black trash bags and graffiti-tagged storefronts on Broadway Street, New York’s primary thoroughfare, I wondered aloud if I would be able to find a decent meal in what was surely a culinary heart of darkness. In Los Angeles, we’re spoiled by the breadth and quality of our dining options...

  10. Mike Idsin: The Educational Admissions Scandal Widens Dramatically: "Wealthy parents would approach a person affiliated with a national organization, technically incorporated as a nonprofit, known by the initials NAR.... The individual would then provide a list of other people in the communities in question who, for a payment often topping 1 million, would permit the family to modify their mailing address in such a way that guaranteed entry into the exclusive schools. The details of the mailing-address system are complex and relate to systems often criticized by advocates, where complex laws dictate a precise and convoluted geographic zone where this address-modification scheme is permissible. The family would in most cases have to physically live in the location 'sold' by the counterparty, who would use the money to flee the jurisdiction.... A significant commission, often 5-6% of the payment, would go to the NAR agent(s)...

  11. Facebook defines "some passwords" = 600000000 passwords: Pedro Canahuati: Keeping Passwords Secure: "As part of a routine security review in January, we found that some user passwords were being stored in a readable format within our internal data storage systems...

  12. Noah Smith: Trump's Industrial Rebirth Is a Dead End: "There's no future in the U.S. for old-line manufacturers that dominated the mid-20th century economy...

  13. 2016: Monday Smackdown: Debating Societies, Talking Points, and Choosing Our Governors

  14. 2013 Monday Smackdown: No, Amity Shlaes Has No Idea What She Is Talking About. Why Do You Ask?: WTF!?!?!?!? Weblogging: Galbraith's claim that Coolidge did not know—i.e., did not know enough to feel he could challenge Mellon's talking points—and did not care—i.e., thought the US headed for disaster but did not bother to learn enough to think he had an informed enough view to challenge Mellon--seems to me to hit the nail on the head. Certainly Herbert Hoover thought so...

  15. 2006: Avadim Hayinu l'Pharaoh b'Mitzrayim: For a 'normal' California teenager like George Allen was once to sign up with the Confederacy is weird and creepy. For a half-Jewish California teenager to sign up with the Confederacy...

  16. 2009: Paul Krugman Urges Greg Mankiw to Pay More Attention to Quality Control: To me, the thing to note about the economists-the Mankiws, the Lucases, the Beckers, the Barros, and all the rest-who have pledged allegiance to the Republican Party this year is how much they have stopped thinking like economists.... I still remember being convinced by Rick Ericson when I had just turned 18 that thinking like an economist required that one always pay attention to three key principles: market equilibrium, individuals responding to incentives, cost-benefit tradeoffs.... I thought that Chicago-School economists believed in these principles too...

  17. 2005: Why Oh Why Are We Ruled by These Idiots? (Social Security Edition): It is a clown show,... The administration's Social Security gurus shove Bush out there with talking points saying that passing the Bush plan is essential because if we don't the Social Security trust fund balance will hit zero in 2041, and big benefit cuts will then be necessary—and then they roll out a plan in which the Social Security trust fund balance hits zero in 2030...

  18. 2008: Every Time I Try to Crawl Out, They Pull Me Back in!: Called on forty minutes' notice, I trot over to the J-School studio to be a talking head on BBC/Newsnight about Fannie and Freddie. I have my talking points ready: The chance that American taxpayers will actually lose any money if Ben Bernanke and Henry Paulson decide that Fannie and Freddie need government support is very low.... Nevertheless, there is now a risk that Fannie and Freddie will need some form of government support in the next month.... And what do I find also on BBC/Newsnight when I get there? I FIND THAT I AM ON WITH GROVER-FRACKING-NORQUIST!! I FIND THAT I AM ON WITH GROVER-FRACKING-NORQUIST!!! WHO HAS THREE POINTS HE WANTS TO MAKE: Barack Obama wants to take your money by raising your taxes and pay it to the Communist Chinese. Oil prices are high today and the economy is in a near recession because of Nancy Pelosi.... Economic growth is stalling because congress has not extended the Bush tax cuts.... I am not paid enough to deal with this lying bullshit...

  19. Wikipedia: Richard Neville, 16th Earl of Warwick

  20. Olivia Nuzzi: Trump Aides Fear He Is Overselling His ‘Exoneration’: "'There will be plenty of unfavorable things about the president in the full report, which we think will eventually come out, so let’s not go overboard saying there’s no wrongdoing. Let’s move on', one senior White House official told me...

  21. Mark Bergen: YouTube Executives Ignored Warnings, Let Toxic Videos Run Rampant: "Proposals to change recommendations and curb conspiracies were sacrificed for engagement, staff say...

  22. Aaron Rupar: On Twitter: "TRUMP during NRCC speech: 'If you have a windmill anywhere near your house, congratulations, your house just went down 75 percent in value. And they say the noise causes cancer. You tell me that one, okay? Rerrrr rerrrr!'...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (April 3, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 31, 2019)

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  • Hoisted from the Archives: What I Wrote in Advance of the FOMC's September 2018 Meeting: "What a difference six months makes! And now the Fed really wishes it had not raised interest rates in the second half of 2018 and yet is unwilling to move them now back to the summer-of-2018 level. Why they are unwilling I do not know...

  1. Wikipedia: The Old Man & the Gun

  2. Stephen King (2014): Joyland https://books.google.com/books?isbn=1781168490

  3. A close encounter of the fourth kind: A Valentines Day gift gone horribly wrong, a Komodo Dragon, and Sharon Stone’s husband’s toes https://www.sfgate.com/news/article/Editor-stable-after-attack-by-Komodo-dragon-2911601.php

  4. Australian cork hat/Monty Python: https://www.evernote.com/l/AAEEa4uqACJLEYfDQosMH6ib2nx5-sYDbycB/image.png http://www.montypython.net/scripts/bruceskit.php

  5. Lindsay Ellis finds a disaffected dwarf in New Zealand https://youtu.be/Qi7t_g5QObs?t=1285

  6. Wikipedia: Alasdair MacIntyre: "1970. Herbert Marcuse: An Exposition and a Polemic.... 1971. Against the Self-Images of the Age: Essays on Ideology and Philosophy.... 1981... After Virtue...

  7. Douglas 'Skoryy' Hayden: On Twitter: "I'm here for Jacobin's 'Four Legs Good, Two Legs Better' special edition... Matthew Yglesias: On Twitter: "The joke is that after the revolution instead of building a better society they’re going to start killing their enemies and then each other?... Jacob T. Levy: On Twitter: "Bookmarking this for the next time someone says 'nuh-uh, it only refers to Haiti and therefore has nothing to do with the French Jacobins'... XLProfessor: On Twitter: "Seriously? All the revolutionaries were killed with this thing and some soldier made himself emperor...

  8. [John Holbo: On Twitter: "It's weirder than a Jekyll-Hyde sort of split. It isn't strange that 'good' people have a 'bad' side. But it's strange that a genuinely broad-minded mentality can be trapped inside a narrow-minded mentality without one or the other utterly cancelling...

  9. Douglas Preston: The Day the Dinosaurs Died: "More than 99.9999 per cent of all living organisms on Earth died, and the carbon cycle came to a halt.... Earth itself became toxic... ten trillion tons of sulfur compounds... combined with water to form sulfuric acid, which then fell as an acid rain that may have been potent enough to strip the leaves from any surviving plants and to leach the nutrients from the soil. Today, the layer of debris, ash, and soot deposited by the asteroid strike is preserved in the Earth’s sediment as a stripe of black about the thickness of a notebook. This is called the KT boundary, because it marks the dividing line between the Cretaceous period and the Tertiary period...

  10. David Glasner: Arthur Burns and How Things Fell Apart in the 1970s: "Thus, in 1973, even without an oil shock in late 1973 used by Burns as an excuse with which to deflect the blame for rising inflation from himself to uncontrollable external forces, Burns’s monetary policy was inexorably on track to raise inflation to 7%...

  11. Thor Berger and Per Engzell: Immigration, Inequality and Intergenerational Mobility in the US: "There are striking regional variations in economic opportunity across the US. This column proposes a historical explanation for this, showing that local levels of income equality and intergenerational mobility in the US resemble those of the European countries that current inhabitants trace their origins from. The findings point to the persistence of differences in local culture, norms, and institutions...

  12. Charles Gaba: Three-Legged Stool: The Motion Picture

  13. Timothy Garton Ash: On Twitter: "Remember the Brexit battle bus £350m a week for the NHS? Brexit has already cost us £360m a week...

  14. Angry Staff Officer: On Twitter: "For Confederate Heritage Month, here's Virginia-native General Winfield Scott, senior officer in the US Army at the outset of the Civil War, whose strategy eventually won the war and who kept his oath to his country...

  15. Miles Kimball: In Honor of Alan Krueger

  16. Alexander Stephens, Vice President of the Confederacy: On Twitter: "The Declaration of Independence was fundamentally wrong.... The Confederate States are founded upon exactly the opposite ideas. Its foundations are laid, its cornerstone rests upon the great truth that the Negro is not equal to the white man; that slavery, subordination to the superior race, is his natural and moral condition...

  17. Cassandra Khaw: On Twitter: "A routine reminder that we do not have flying cars, but we have the means to access all of the world's knowledge with a few clicks of a keyboard, communicate with people thousands of miles away in an instant, and are working on artificial burger meat. Also, the world is going to end catastrophically very soon as a result of climate change and capitalism, but a cyberpunk present wouldn't be complete without impending doom...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 31, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 30, 2019)

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  • Professional Republicans, Not Professional Economists: How Low can They Go?: Among the professional Republicans, Ross Douthat joins Greg Mankiw in opposition to Steve Moore. So far, they are the only two I have seen—and Greg Mankiw is the only economist.... So far, not a peep I have seen out of anybody else: not Marty Feldstein, Michael J. Boskin, John Cogan, Douglas Holtz-Eakin, Glenn Hubbard, Lawrence B. Lindsey, Harvey S. Rosen, George P. Shultz, John. B. Taylor, James C. Miller III, Douglas Holtz-Eakin, Barry W. Poulson, Charles W. Calomiris, Donald Luskin, or Glenn Hubbard...

  • Yes, Of Course Larry Kudlow Is For QE Now and Was Against It When Obama Was President. Why Would You Think Otherwise?

  • Comment of the Day: Grizzled: "How Asia Works by Joe Studwell... the accounts he gives of successful asian development don't seem to emphasize absolute property rights...

  • HA HA HA HA HA! Larry Lindsey and John Taylor: "PLEASE APPOINT US TO SOMETHING!! WE ARE LOYAL!!!! WE ARE NPOSTLTE PEOPLE!!!!!! PLEASE!!!!!!!!": At some level, this is hilarious.... Greg Mankiw has said the obvious: that Stephen Moore is not qualified to be a Fed Governor.... Kevin Hassett—Kevin Hassett!—appears to are frantically trying to organize internal opposition.... And so John Taylor and Larry Lindsey decide that now is the time for them to demonstrate that they are NO PLATE OF SHIT TOO LARGE TO EAT people, as far as a Republican White House is concerned...

  • Weekend Reading: Salisbury the Late-Nineteenth Century Grand Strategist, as Explicated by Roberts, According to Gaddis: John Lewis Gaddis's On Grand Strategy is not a book I would recommend highly.... However, there are two passages in the book that struck me very positively...

  • For the Weekend: Florence + The Machine: Tiny Dancer

  • Comment of the Day: Howard: "We need to remember that every other country in the world is now making plans on the expectation that having elected a trump once, America could easily do it again...

  • Note to Self: "Job Guarantee" vs. "Functional Finance": Job Guarantee: "Our policy is for the government to run a deficit to offer low-quality make-work low-pay jobs that suck". Functional Finance: "Our policy is for the government to run a deficit so that the labor market is in balance with employers getting the most value for their money possible and workers getting the most money for their time and energy possible with unemployment reduced to a 'frictional' level". Job Guarantee is really stupid on many levels. Functional Finance is really smart. Put me down for Functional Finance...

  • Modern Dan Drezner Is Much Better...: "The Worst Piece Of Conventional Wisdom You Will Read This Year.... Stagflation in the 1970s.... Fiscal policy was an innocent bystander to this whole shebang. So I honestly don’t know what the hell Kinsley is talking about...

  • So, Professor Drezner, We Meet Again. And THIS TIME THE ADVANTAGE IS MINE!: Dan Drezner appears to mourn for the days when I was his nemesis.... I read Drezner's piece in 2005 as an exercise in politics according to Karl Schmitt: that Drezner is following Schmitt's advice that one's first move when engaging in politics is to focus on identifying your enemies.... Here the point of Drezner's piece is to assure (reassure?) his audience that his enemies are "Jackson and Sharpton... that thing they do", which is to confront white politicians who are then "required to mau-mau kowtow to Jackson and Sharpton for something they say..." And he defines them as his enemies even though "they have a pretty valid point". I am glad Drezner no longer does this...

  • I Said "Pass the Baton" to Those Further Left than I, Not "Bend the Knee": Last night at dinner at Iyesare, Noah Smith admonished me for not making it clear that I said "pass the baton" to those further left, not "bend the knee". So here I make that clear.... I said: pass the baton, right? I said: pass the baton. And yet as the thing spreads out into the Internet, it gets turned into "surrender", "abandon my beliefs", "bend at the knee", all kinds of other things...

  • No Longer Fresh at Project Syndicate: Why Isn't the Federal Reserve Buying Recession Insurance?

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 30, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 26, 2019)

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  1. Shelly Hagan and Wei Lu: San Francisco's `Super Rich' Lead a Widening U.S. Wealth Divide: "The Income Gap Is Getting Worse in American Cities. U.S. income gap between top 5% and middle 20% grew by 118,000. Boise City, Idaho, and Knoxville, Tennessee, have robust gaps: The tech hub’s 'super-rich versus middle-class' gap swelled by $118,000 to $529,500 over the past five years, as the top 5 percent of households earned $632,310 in 2017, compared with $102,785 for the middle class, according to the Bloomberg analysis of U.S. Census data...

  2. Richard Samans: Better Labor Standards Must Underpin the Future of Work: "As technology and deregulation continue to shape the labor market, maintaining strong worker protections is as important as ever...

  3. Hess Chung and Eric Engen (20134): Identifying the Sources of the Unexpectedly Weak Economic Recovery Using the FRB/US Model

  4. Abhijit V. Banerjee and Esther Duflo: The Economic Lives of the Poor

  5. Daniel Alpert: What the Federal Reserve Got Totally Wrong about Inflation and Interest Rate Policy: Getting Real About Rents

  6. Jared Bernstein: On the Economy

  7. Katrin Gödker, Peiran Jiao, and Paul Smeets: Investor Memory: "Self-serving memory bias... distorts beliefs and drives investment choices. Subjects who previously invested in a risky stock are more likely to remember positive investment outcomes and less likely to remember negative outcomes. In contrast, subjects who did not invest but merely observed the investment outcomes do not have this memory bias. Importantly, subjects do not adjust their behavior to account for the fallibility of their memory...

  8. Wired: How Animators Created the Spider-Verse

  9. Mark Thoma: Links (3/24/19)

  10. Ben Thompson: Apple’s Services Event: "The problem, though, is that there will never be a product like the iPhone again; Apple may have found its product future (good for developers and customers), but its financial future is less certain (not so good for Wall Street)...

  11. Data For Progress: A Green New Deal. New Consensus: Green New Deal

  12. Menzie Chinn: "Stop Stephen Moore from being appointed to the Fed. Here is a non-exhaustive recounting of Moore’s reign of error...

  13. Marina Hyde: Get Set for Brexit: Indicative Day–The One Where the Grand Wizards Turn on Each Other: "On Sunday it was all looking so good for the Brexit ultras. Then came Monday, and that parliamentary vote.... Like all initiatives handled by Oliver Letwin since the 1980s, it promises to go spectacularly wrong in ways we haven’t even thought of yet, but let’s pretend otherwise before the shitstorm gets properly under way on Wednesday...

  14. Catherine Rampell: The Op-Ed that Got Stephen Moore His Fed Nomination Is Based on Two Major Falsehoods: "Trump has nominated to the world’s most powerful central bank a guy who has trouble telling whether prices are going up or down, and struggles to remember how the most famous Fed chair in history successfully stamped out inflation. But hey, Republican senators still seem keen on him because 'the establishment' keeps pointing out how inept he is...

  15. Nick Timiraos: @NickTimiraos: "Ben Sasse supports Moore: 'Steve’s nomination has thrown the card-carrying members of the Beltway establishment into a tizzy, and that says little about Steve and his belief in American ingenuity, but a lot about central planners’ devotion to groupthink'...

  16. Catherine Rampell: Stephen Moore Could Inflict More Long-Term Damage than Any of Trump’s Other Nominations: "President Trump has made a lot of ill-advised nominations. But perhaps no single choice could inflict more long-term damage than the one he announced Friday: Stephen Moore, Trump’s pick to join the Federal Reserve Board...

  17. Jo Walton (2010): The Suck Fairy

  18. Martin Cahill: A Stunning Debut: Arkady Martine’s "A Memory Called Empire"

  19. UCL Institute for Innovation and Public Purpose: @IIPPUCL_: "Watch as @bankofengland Chief Economist Andy Haldane explores 10 monetary myths that will help present and future generations to rethink and reframe the way we organise our economies, our financial systems and our societies https://www.youtube.com/watch?time_continue=1&v=Ul0pTVl8l98...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 26, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 25, 2019)

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  1. Margaret Leslie Davis: The Quest to Acquire the Oldest, Most Expensive Book on the Planet: "The price of the book when it left the printer’s workshop was believed to be about thirty florins, equivalent to a clerk’s wages for three years...

  2. George A. Akerlof: Sins of Omission and the Practice of Economics: "Economics, as a discipline, gives rewards that favor the 'Hard' and disfavor the 'Soft', Such bias leads economic research to ignore important topics and problems that are difficult to approach in a 'Hard' way—thereby resulting in 'sins of omission'.... Greatly increased tolerance in norms for publication and promotion... [is] one way of alleviating narrow methodological biases...

  3. Wikipedia: Quantum Logic Gates

  4. Andy Matuschak: "I want to expand the reach of human knowledge and ability...

  5. Michael Nielsen: Neural Networks and Deep Learning

  6. Michael Nielsen: Interesting problems: The Church-Turing-Deutsch Principle: "Deutsch... propose[d] a revision of the Church-Turing thesis... that every physical process can be simulated by a universal computing device...

  7. Alain Aspect: The future of Quantum Technologies: The Second Quantum Revolution

  8. Barbara Tuchman: “A Single British Soldier…”: "'What is the smallest British military force that would be of any practical assistance to you?' Wilson asked. Like a rapier flash came Foch’s reply, 'A single British soldier—and we will see to it that he is killed'...

  9. Michael Andersen: Six Secrets From the Planner of Sevilla’s Lightning Bike Network: "Sevilla, Spain: It went from having about as much biking as Oklahoma City to having about as much biking as Portland, Oregon. It did this over the course of four years...

  10. I wish it were so, but I see only one professional Republican economist—Greg Mankiw—coming out in opposition to Moore. The rest are very quiet. All honor to Greg Mankiw, yes, but where are the others?: Brendan Greeley: Swift Pushback on Stephen Moore, Trump's Latest Pick for the Fed: "Stephen Moore drew swift and unusually pointed criticism after President Donald Trump picked him to be a governor of the U.S. Federal Reserve, with at least one prominent Republican economist calling on the Senate to block the appointment. 'He does not have the intellectual gravitas for this important job', Greg Mankiw, a Harvard professor who was chairman of the White House Council of Economic Advisers under President George W. Bush, wrote in a blog post on Friday. 'It is time for senators to do their job. Mr. Moore should not be confirmed'...

  11. Paul Krugman Twitter: https://twitter.com/paulkrugman/with_replies

  12. Stephen Moore Twitter: https://twitter.com/search?vertical=default&q=Stephen%20Moore&src=typd

  13. Wikipedia: Battle of Mycale

  14. Wikipedia: Battle of Plataea

  15. Roman expeditions to Sub-Saharan Africa

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 25, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 21, 2019)

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  1. David Warsh: Austerity is Defunct: "Long-term stagnation is a real possibility...

  2. Wikipedia: Gregor MacGregor

  3. Andy Matuschak and Michael Nielsen: Quantum Computing for the Very Curious: "Presented in an experimental mnemonic medium, which makes it almost effortless to remember what you read...

  4. Remaniacs Podcast

  5. Laura Tyson and Susan Lund: The Blind Spot in the Trade Debate: "Digital flows and services.... As governments assess their external balances and competitive positions, hammer out trade deals, and set national policy agendas, they need to look beyond manufacturing and agriculture...

  6. Notice anyone missing from Clive Crook's list of Brexit villains? That's right: no Johnsons, no Farages, no ERGs. Somehow the right-wing nutjobs whom he has spent so much of his career carrying water for have no agency, and so are not worth mentioning as bearing responsibility. Bless their little hearts: Clive Crook: Britain’s Next Great Brexit Mistake: "No great regard for the EU.... Cameron’s bungling.... Rarely... did May miss a chance to make things worse.... This pitiful result... the Remain majority in Parliament chose to let it happen...

  7. Casey Newton: Instagram's Reckoning Arrives

  8. Petitions: Revoke Article 50 and remain in the EU: "The government repeatedly claims exiting the EU is 'the will of the people'. We need to put a stop to this claim by proving the strength of public support now, for remaining in the EU. A People's Vote may not happen-so vote now...

  9. Robert Shrimsley: No words: "We're close to a gangrene moment" said one senior European Commission official...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 21, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 20, 2019)

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  1. Jennifer Jensen Wallach (2002): The Vindication of Fawn Brodie: "Julian Bond... articulated the feelings of many black Americans when he said: 'Through all my life, as long as I have known there was a Thomas Jefferson, I have known there was a Sally Hemings. And I have known, not in a... scholarly way... I know this relationship existed and while, I cannot prove it, I don't find it at all odd that it might have, or could have, or actually did happen. A man who owns slaves is not far away from one who will sleep with his slave.... Brodie noted that: /The unanimity with which Jefferson male biographers deny him even one richly intimate love affair after his wife's death suggests that something is at work here that has little to do with scholarship, especially since they are so gifted in writing about every other aspect of his life'...

  2. Fawn M. Brodie (1971): Jefferson Biographers and the Psychology of Canonization: "The women who have written about Jefferson in Paris see neither inhibitions nor 'hangups', nor an absurd preoccupation with the god of reason; they also read the Cosway letters without preconceptions about Jefferson's lack of masculinity.... One could continue, in describing the varied biographical treatment ofJefferson's intimate life, by discussing the ancient, controversial story of Sally Hemings. The documentation is so scattered and complicated, however, that it deserves a small volume in itself, and simply cannot be adequately reported in this essay.... Malone, who finds the story even more abhorrent than does Peterson, devotes a whole appendix in his new volume to a discussion of the evidence. He holds that the father of Sally Hemings's children may have been Peter Carr, but that it was more likely to have been his dissolute brother Samuel. 'It is virtually inconceivable', he writes ofJefferson, 'that this fastidious gentleman whose devotion to his dead wife's memory and to the happiness of his daughters and grandchildren bordered on the excessive could have carried on through a period of years a vulgar liaison which his own family could not have failed to detect'.... The unanimity with which Jefferson male biographers deny him even one richly intimate love affair after his wife's death suggests that something is at work here that has little to do with scholarship, especially since they are so gifted in writing about every other aspect of his life...

  3. E. M. Halliday (2001): Understanding Thomas Jefferson https://books.google.com/books?isbn=006175546X

  4. The very sharp John Lukacs on what I call "fascism"—proletarian ethnoi that need to fight enemies foreign and domestic with economic cleavages within the ethnoi papered over, rather than proletarian classes that need the economic system unrigged. For some reason he calls it "nationalism", which I think is properly something different: there may well be elective affinity between belief in the nation-state as a political and sociological community and fascism, but it is certainly not an identity: John Lukacs: The Duel: The Eighty Day Struggle Between Churchill and Hitler: "The principal force of the twentieth century is nationalism...

  5. Brilliant from my freshman roommate Robert Waldmann: Robert Waldmann: The Transformation of Left Neoliberalism: " We should want a small state, but the key is a small surface area not a small volume. Shrinking the state by drilling so there are private-sector salients worsens the problem...

  6. David Brooks: The Case for Reparations: "Sitting, for example, with an elderly black woman in South Carolina shaking in rage because the kids in her neighborhood face greater challenges than she did growing up in 1953...

  7. Brishen Rogers: Beyond Automation: The Law & Political Economy of Workplace Technological Change: "Companies are, however, using new information technologies to exercise power over workers in other ways, all of which are enabled by existing employment laws...

  8. Phil Lord and Rodney Rothman: Screenplay: Spider-Man: Into the Spider-Verse

  9. Abhijit V. Banerjee and Esther Duflo (2007): The Economic Lives of the Poor

  10. Wikipedia: Greek to me: "It may have been a direct translation of a similar phrase in Latin: 'Graecum est; non legitur'...

  11. Daniel Davies: One-Minute MBA

  12. David Leonhardt: Trump’s Trade Grade: "'He set out to fix a non-problem (a trade deficit) and created real ones including international conflict, higher consumer prices and gross inefficiency'...

  13. George Magnus: China Leadership Monitor: "Before the 1980s and again since 2012, when reforms were suppressed or stifled and inputs were boosted, but without any improvements...

  14. Jonathan Bernstein: 2020 Elections: Far Left Won’t Take Over the Democratic Party: "It lost five of six presidential elections through 1988. The Democratic Leadership Council of that era was split...

  15. SF Eater: Ginto Izakaya Japonaise

  16. Ramen Shop

  17. Iyasare

  18. *Gregory Travis *: 737 MAX Article

  19. Juliane Stockman: @JulianeStockman: "If you haven't subscribed to @tressiemcphd https://thefirstand15th.substack.com, you need to.... I'm gonna have to journal about this months' essay. Hell, I'm probably gonna take it into therapy to process it. It packs a wallop...

  20. John Harwood: @JohnJHarwood: "Trump/GOP promised lasting 3+% growth from self-financing tax-cuts. Mainstream economists predicted brief deficit-fueled growth burst...

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Fairly Recently: Must- and Should-Reads, and Writings... (March 17, 2019)

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  1. Jason Furman: Review of Kim Clausing: "Open: The Progressive Case for Free Trade, Immigration, and Global Capital": "If I had to assign policymakers one up-to-date guide to the latest economic policy issues on taxes and trade it would be this one...

  2. Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez, and Gabriel Zucman: World Inequality Report 2018: "The World Inequality Lab seeks to fill a democratic gap...

  3. This Federal Reserve interest-raising cycle: not just an ex-post but an ex-ante mistake: Adam Ozimek and Michael Ferlez: The Fed’s Mistake: "The Fed made a numerically significant error in underestimating the amount of labor market slack...

  4. Wikipedia: Philip Auerswald

  5. Langston Hughes: Let America Be America Again

  6. Wikipedia: Metric

  7. Dmitry Grozoubinski: Dmitry's Guide To Writing A No-Deal Is Project Fear Article: "Are you a Tory Lord who once had to share a cab with a Hungarian? An Oxbridge chancer who wants to be on telly? Just write an article about No-Deal being 'Project Fear.' How? This guide can help!...

  8. Dan O'Sullivan: Pigs (A Million Different Ones): "The internet is now the world’s largest subduction zone, where an endless column of young, mostly white males are overtaken and crushed by the unstoppable force of far-right extremism. Violent misogyny, Islamophobia, anti-Semitism, gay-bashing, anti-black racism-you name it, you can find it, in ever more plentiful amounts online. The biggest tech platforms you can name-Facebook, Google, YouTube, Twitter, Reddit-serve up this kind of poison on an industrial scale, mushrooming and expanding at a rate that makes catching up with the spread almost impossible. The early neo-Nazi webforum Stormfront is on life support, largely because there is no need for the far-right to stay in an online cul-de-sac.... We as a society are going to be living with the effects of this radicalization for the rest of our lives...

  9. Maria Lawton: Bacalhau à Gomes Sà

  10. Dan Murphy: The Entire Economy is Fyre Festival.: "Izabella Kaminska: 'Search LinkedIn.... 41 results for 'chief future officer', 44 for 'chief joy officer', 52 for 'chief happiness officer', 63 for 'chief thinking officer', 170 for a 'chief vision officer', 197 futurists and 354 futurologists...' [155 Retweets, 363 Links] Does this many likes and retweets make me an influencer, an evangelist, or a thought leader?...

  11. Karl Rodbertus (1850): Overproduction and Crises

  12. The Points Guy: JetBlue Mint From New York to San Francisco

  13. Impossible Burger

  14. Wikipedia: Jack o' Kent

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 17, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 13, 2019)

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  1. Marne Levine: How Did I Get Here?

  2. Sean Illing: "Fascism: a Warning" from Madeleine Albright

  3. Neil Cummins: The Missing English Middle Class: Evidence From 60 Million Death And Probate Records: "Despite the great equalisation of wealth over the 20th century, most English have no significant wealth at death...

  4. David H. Autor: Work of the Past, Work of the Future: "A disproportionate polarization... shunting non-college workers out of specialized middle-skill occupations into low-wage occupations... diminishing the set of non-college workers that hold middle-skill jobs in high-wage cities... attenuating... the steep urban wage premium for non-college workers...

  5. Paul Krugman (2015): On Econoheroes: "Look at hits on Google News. If you put in “mankiw economy” you get about 5200 hits, many of them involving debates at the recent economics meetings. If you put in “stephen moore economy” you get 65,700 hits. If you put in “stiglitz economy” you get 43,800. I see this as a real asymmetry...

  6. Sanjiv Das, Kris Mitchener, and Angela Vossmeyer: Bank Networks and Systemic Risk in the Great Depression: "The Global Crisis brought attention to how connections among financial institutions may make systems more prone to crises. Turning to a major financial crisis from the past, this column uses data from the Great Depression to study risk in the commercial banking network leading up to the crisis and how the network structure influenced the outcomes. It demonstrates that when the distribution of risk is more concentrated at the top of the system, as it was in 1929, fragility and the propensity for risk to spread increases...

  7. Alicia Sasser Modestino: Is the "Skills Gap" ReaL?: "Since the Great Recession, employers have cited a skills gap in which workers lack the education and experience needed to fill vacant jobs. While job requirements increased for many openings during the recession, the inverse has happened as the labor market has recovered...

  8. Lee Harris: Murderbot Will Return in… "Network Effect". A Full Novel by Martha Wells

  9. Matthew Yglesias: Great Tariff Debate of 1888: Trump’s Love of the McKinley Tariff: "Trump’s side won, and it was an unpopular disaster...

  10. Karl Smith: [Why Centrists Have to Become More Partisan(https://www.bloomberg.com/opinion/articles/2019-03-11/why-centrists-have-to-become-more-partisan): "In America’s polarized political climate, credibility within the party is a prerequisite for getting anything done...

  11. James Fallows: ET302: Is the Boeing 737 Max 8 to Blame?: "No one knows for sure—but here is where experts will be looking for clues...

  12. Herman Melville: Moby-Dick: "Ahab: 'Aye, aye! and I’ll chase him round Good Hope, and round the Horn, and round the Norway Maelstrom, and round perdition’s flames before I give him up. And this is what ye have shipped for, men! to chase that white whale on both sides of land, and over all sides of earth, till he spouts black blood and rolls fin out. What say ye, men, will ye splice hands on it, now? I think ye do look brave'...

  13. Ernst Renan: What Is a Nation?: "The essence of a nation is that all of its individual members have a great deal in common and also that they have forgotten many things. No French citizen knows whether he is a Burgund, an Alain, a Taifala, or a Visigoth. Every French citizen has forgotten St. Bartholomew’s Day and the thirteenth-century massacres in the Midi...

  14. Wikipedia: Cauchy Distribution

  15. Anna Mikusheva: Weak Instrumental Variables

  16. Max Roser and Esteban Ortiz-Ospina: Global Extreme Poverty

  17. Isaiah Andrews and James H. Stock: Weak Instruments and What to Do About Them

  18. Philip Auerswald: The Code Economy: A 40000-Year History

  19. Absolute lunacy from a politician who is the essence of a twit: Nigel Farage: The Betrayal of Brexit Is One of the Most Shameful Chapters in Our Country’s History: "498 MPs voted to trigger Article 50.... They all knew that the consequence was that the UK would leave the EU on March 29 2019, with or without a deal. And yet now they have decided to claim the vote was meaningless.... We are living through one of the most shameful chapters in our country’s history...

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Fairly Recently: Must- and Should-Reads, and Writings... (March 11, 2019)

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  1. KJV: John 5: "Now there is at Jerusalem by the sheep market a pool, which is called in the Hebrew tongue Bethesda, having five porches. In these lay a great multitude of impotent folk, of blind, halt, withered, waiting for the moving of the water. For an angel went down at a certain season into the pool, and troubled the water: whosoever then first after the troubling of the water stepped in was made whole of whatsoever disease he had...

  2. Edward Luce: Ivanka Trump and the Rise of the Stepford Daughter: "The first daughter’s drive to improve the skills of American workers mainly involves photo-ops. Washington’s most surreal event this week—an absurdly high bar—was Ivanka Trump’s roll-out of her workforce development council. It opened with her father calling the chief executive of America’s largest smartphone company 'Tim Apple'. Tim Cook barely flinched...

  3. Madeline Peltz: Tucker Carlson's interviews on 'Bubba The Love Sponge'...

  4. Benjamin Dreyer: Jeanine Pirro was permanently banned from Leonard’s of Great Neck after she tried to walk out with a table floral arrangement from a bat mitzvah she wasn’t even attending. So grain of salt on the constitutional scholarship...

  5. The Vela: A Leisurely Extinction

  6. Paul N. Van de Water: [More Evidence of Post-ACA Slowdown in Health Care Spending(https://www.cbpp.org/blog/more-evidence-of-post-aca-slowdown-in-health-care-spending): "In early 2010 we projected that federal debt would reach 289 percent of gross domestic product (GDP) by 2048; we now project 113 percent of GDP. Over half of that improvement stems from lower health care costs; the rest largely reflects lower interest rates. Although health care costs remain a major driver of future increases in federal spending, that shouldn’t obscure how much their projected costs have fallen in recent years...

  7. Nyum Bai: Our Menu —

  8. August (1) Five: Menu

  9. Marica Restaurant: Current Food & Drink Offerings

  10. Pete Buttigieg: On Pence's support of Trump: "How could he allow himself to become the cheerleader of the porn star presidency. Is it that he stopped believing in scripture when he started believing in Donald Trump?...

  11. Tobias S. Buckell: What Tools Does a Professional Fiction Writer Use?

  12. Microeconomic Insights: About: "Microeconomic Insights is a home for accessible summaries of high quality microeconomic research which informs the public about microeconomic issues that are, or should be, in the public’s eye...

  13. Emma Hyman

  14. KJV: Song of Moses and Miriam

  15. Wikipedia: Al Hunt

  16. Alfred, Lord Tennyson: Ulysses: "Tho' much is taken, much abides; and tho'/We are not now that strength which in old days/Moved earth and heaven, that which we are, we are...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 11, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 10, 2019)

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  1. John Quiggin: Monopoly: Too Big to Ignore: "Two hundred years after the birth of Karl Marx and fifty years after the last Western upsurge of revolutionary ferment in 1968, the term 'monopoly capitalism' might seem like a relic of outmoded enthusiasms. But economists are increasingly coming to the view that monopolies, and associated market failures, have never been a bigger problem...

  2. Mary Beard: The Public Voice of Women: "As Homer has it, an integral part of growing up, as a man, is learning to take control of public utterance and to silence the female of the species.... Telemachus... says ‘speech’ is ‘men’s business’... authoritative public speech (not the kind of chatting, prattling or gossip that anyone–women included, or especially women–could do)...

  3. Fear of Reese Witherspoon Look-Alikes on the Pill

  4. Who Will Donald Trump Turn Out To Be?: "We have very little indication of what policies Donald Trump will try to follow or even what kind of president he will be. The U.S. press corps did an extraordinarily execrable job in covering the rise of Trump—even worse than it usually does. Even the most sophisticated of audiences—those interested in asset prices and how they are affected by government policies—have very little insight into Trump's views or those of his key associates...

  5. Yes, it is time for the center-left to pass the baton. But what does that mean, concretely, for policies? Paul Krugman gives his opinion: Paul Krugman: "A few thoughts inspired by @delong's 'Brad is really saying two things...

  6. Noah Smith: Book Review: The Revolt of the Public, by Martin Gurri: "A new framework... to... think about the political chaos...

  7. Sam Bowles (2011): Is Liberal Society a Parasite on Tradition?: "Markets and other liberal institutions... enhance rather than erode... values...

  8. CPPC: Senate Finance Committee Grills Drug Executives on Rising Prices, Criticize Them for Terrible Practices: "Grassley... Wyden... bipartisan investigation into the high price of insulin...

  9. Chye-Ching Huang: Fundamentally Flawed 2017 Tax Law Largely Leaves Low- and Moderate-Income Americans Behind: "A restructuring... can fix these flaws...

  10. Andrei Markevich: Russia in the Great War: Mobilisation, Grain, and Revolutio: "The economics and politics of the Russian grain and labour markets.... It was impossible simultaneously to mobilise 15 million males into the Russian army, procure the grain to feed them as soldiers, and avoid revolution...

  11. Wikipedia: Posset: "A posset (also historically spelled poshote, poshotte) was originally a popular British hot drink made of milk curdled with wine or ale, often spiced, which was often used as a remedy...

  12. Wikipedia: IBM 1620 - : "Many in the user community recall the 1620 being referred to as CADET, jokingly meaning 'Can't Add, Doesn't Even Try', referring to the use of addition tables in memory rather than dedicated addition circuitry.... The internal code name CADET was selected for the machine. One of the developers says that this stood for 'Computer with ADvanced Economic Technology', however others recall it as simply being one half of 'SPACE-CADET', where SPACE was the internal code name of the IBM 1401 machine, also then under development...

  13. Wikipedia: Charles, Duke of Orléans: "24 November 1394 – 5 January 1465: Now remembered as an accomplished medieval poet owing to the more than five hundred extant poems he produced, written in both French and English, during his 25 years spent as a prisoner of war and after his return to France...

  14. Alexandria Ocasio-Cortez: Automation Is a Good Thing: "In a talk at SXSW, the New York Congresswoman notes that automation is a net positive when the government offers a social safety net...

  15. Marcy Wheeler: @emptywheel: "There's a belief among Russian denialists that bc there's not a Tower in Moscow w/Trump's name on it, the conspiracy didn't happen. That's now how conspiracy law works...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 10, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 8, 2019)

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  1. Dana Goldstein: What’s a Flâneuse?

  2. Robert E. Scott: Record U.S. Trade Deficit in 2018 Reflects Failure of Trump’s Trade Policies

  3. Wikipedia: Confidence and Supply

  4. Gmail Help: Search Operators You Can Use with Gmail

  5. Michael Kades testified on Capitol Hill on Thursday March 7: Michael Kades: To Combat Rising U.S. Prescription Drug Prices, Let’s Try Competition

  6. Cathy Young: Who’s Afraid of The Bulwark?: "I don’t know what The Bulwark’s endgame is, but right now, it’s among a deplorably small number of outlets that get high marks for intellectual diversity and integrity...

  7. Wikipedia: Genetic History of the British Isles

  8. Publius Baebius Italicus: Ilias Latina

  9. Marcos Zapata: Guinea Pig Last Supper: "In this historic cathedral in the heart of Cusco, Peru, hangs a one-of-a kind religious and cultural painting that depicts a very unordinary twist on an otherwise common image... https://delong.typepad.com/.a/6a00e551f0800388340240a490f815200b-pi

  10. Bill Black and Mark Steiner: Clinton-Era Official Says Left Should Lead Following Center-Right Failures

  11. Ursula Vernon: An Unexpected Honor,: "Now, you’re probably all asking what whalefall has to do with awards ceremonies, or science fiction novelettes, and the answer is: absolutely nothing. But how often do I get to tell an audience this size about whalefall? So, thanks to my publishers, my husband Kevin, and thank you all. I’m glad you liked my story. Y’all have a good night...

  12. WebPlotDigitizer: Extract Data from Plots, Images, and Maps

  13. Barry Rice: The Carnivorous Plant FAQ: "Q: How did the Venus flytrap get its name? A: Heh heh heh. Heh heh heh heh. Heh heh heh heh...

  14. Rudyard Kipling.: The Merchantmen

  15. Paolo Gerbaudo: The Age of the Hyperleader: When Political Leadership Meets Social Media Celebrity: "In an era of profound suspicion towards party bureaucracies, digital media has delivered a new type of politician.... Political influence is now measured in part through social media metrics: likes, followers, and shares. A politician’s Twitter prowess–or lack thereof–can make or break a political career...

  16. Erik Tarloff: The Woman in Black https://books.google.com/books?isbn=1947856979

  17. Doug Jones: Nature Red in Tooth and Claw: "339-321 million years ago...

  18. Doug Jones: Devonian Days: "401-380 million years ago... the Devonian: Forests are spreading. The first tree, Wattieza, is kin to ferns and horsetails. It stands 10 meters tall. No leaves yet, just fronds. The first forests will absorb carbon dioxide, and cool the planet. Life is moving onto land... the 'fishapod' discovered in 2006... with both lungs and gills...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 8, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 6, 2019)

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  • The Weak Instruments Problem: "This is the weak instruments problem. As you get more and more data, wz/vz is not heading for zero, and even if it were your estimated βIV0 is not headed for β, but is rather headed for β+δ...

  • I Concede: The Haters and the Trolls and the Botnets of Macedonia Have Rendered Their Verdict, and I Accept It: @AustanGoolsbee has won,_ and will represent Neoliberal Economic Academia in the next round of the 2019 Chief Neoliberal Shill Twitter Challenge. Austan Goolsbee will face off against noted ex-academic and San Francisco flaneur @Noahpinion in the semifinals of the meetup region...

  • Can I pull it out at the last minute?: I'm still behind 53-47, in spite of a million-twitter-impression day yesterday: Neoliberal: @AustanGoolsbee (5) Former CEA Chair and Professor at U Chicago vs. @delong (4) Economic Historian at Berkeley...


  1. Greg Sargent: A Centrist Democrat Explains Why It’s Time to Give The Left a Chance

  2. Assiah: "Also known as Olam Asiyah, עוֹלָם עֲשִׂיָה in Hebrew, literally "the World of Action") is the last of the four spiritual worlds of the Kabbalah —Atziluth, Beriah, Yetzirah, 'Asiyah—based on the passage in Isaiah 43:7...

  3. Wikipedia: Almost Famous: "Almost Famous is a 2000 American comedy-drama film written and directed by Cameron Crowe and starring Billy Crudup, Frances McDormand, Kate Hudson, and Patrick Fugit. It tells the story of a teenage journalist writing for Rolling Stone in the early 1970s, his touring with the fictitious rock band Stillwater, and his efforts to get his first cover story published... four Academy Awards nominations, including a win for Best Original Screenplay... 2001 Grammy Award for Best Compilation Soundtrack Album.... Roger Ebert hailed it the best film of the year as well as the ninth-best film of the 2000s. It also won two Golden Globe Awards, for Best Motion Picture–Musical or Comedy and Best Supporting Actress–Motion Picture (Hudson). In a 2016 international poll conducted by BBC, Almost Famous was ranked the 79th greatest film since 2000...

  4. KJV: Isaiah 6: "In the year that king Uzziah died I saw also the Lord sitting upon a throne, high and lifted up, and his train filled the temple. Above it stood the seraphims: each one had six wings; with twain he covered his face, and with twain he covered his feet, and with twain he did fly. And one cried unto another, and said, "Holy, holy, holy, is the Lord of hosts: the whole earth is full of his glory". And the posts of the door moved at the voice of him that cried, and the house was filled with smoke. Then said I, "Woe is me! for I am undone; because I am a man of unclean lips, and I dwell in the midst of a people of unclean lips: for mine eyes have seen the King, the Lord of hosts". Then flew one of the seraphims unto me, having a live coal in his hand, which he had taken with the tongs from off the altar: And he laid it upon my mouth, and said, "Lo, this hath touched thy lips; and thine iniquity is taken away, and thy sin purged". Also I heard the voice of the Lord, saying, "Whom shall I send, and who will go for us?" Then said I, "Here am I; send me"...

  5. KJV: Luke 10:25: "And, behold, a certain lawyer stood up, and tempted him, saying, Master, what shall I do to inherit eternal life?...

  6. hilzoy: "If Hans von Spakovsky says it, then surely it must be true! (Dissolves in giggles): 'Hans Von Spakovsky, “I haven’t seen any evidence of actual violations of the law, which is usually a basis before you start an investigation. Adam Schiff seems to be copying Joseph McCarthy in wanting to open up investigations when they don’t have any evidence of wrongdoing”...'

  7. SPECIES: "This is my personal favorite animal video of all time...

  8. Paul Waldmann: The Dishonest Smearing of Ilhan Omar: "this punishment of criticism of Israel is exactly what the freshman congresswoman was complaining about, and has on multiple occasions. The fact that no one seems to acknowledge that this is her complaint shows how spectacularly disingenuous Omar’s critics are being...

  9. Mark Milian: @markmilian: "Coinbase says it accidentally hired a group of mercenaries, who sold cyberweapons to Saudi Arabia and Sudan, and is now firing them...

  10. Robert Reich: @RBReich: "In less than a week, we've learned that the President of the United States: --Tried to block a merger to punish a news outlet --Knew about the release of illegally obtained email --Paid off a mistress, violating election law --Demanded security clearance for a family member...

  11. Bret Stephens's claims that although "people" do, he would never never use an official position to retaliate against someone who had annoyed him are worth what you think they are: Laura McGann: NYT Columnist Bret Stephens Inadvertently Explains Why Women Don’t Report Sexual Harassment...

  12. Sean Illing: Mortal Republic: Edward Watts on what America can learn from Rome’s collapse: "The Roman republic destroyed itself. Are we on a similar path?...

  13. Anna Mikusheva: What Are Weak Instruments?

  14. Charles Moore: Will the Daily Mail’s volte-face on Brexit make the slightest difference? | The Spectator: "My guess is that Mail readers will find it less fun hating the European Research Group than the ‘metropolitan liberal elite’, but the traditional key to tabloid success is the Glenda Slagg principle of kicking someone, then praising them, then kicking them all over again. My only concern for the Mail’s future lies in the fact that Geordie Greig comes from the officer class. This violates ancient Mail rules by which the Harmsworth family are remote, regal figures beloved by their serfs, and the actual dirty work is done by foul-mouthed NCOs who never leave the office. Geordie goes out to dinner, has many friends, enjoys life, and wishes to win the respect of peers (in both senses of that word). He is a talented journalist, but these are severe handicaps to running Associated’s charnel-house...

  15. Alan J. Auerbach, Martin N. Baily, Dean Baker, Robert J. Barro, Ben S. Bernanke, Jared Bernstein, Alan S. Blinder, Michael J. Boskin, Arthur C. Brooks, John H. Cochrane, Karen Dynan, Janice Eberly, Douglas W. Elmendorf, Martin S. Feldstein, Jason Furman, William G. Gale, Ted Gayer, Austan D. Goolsbee, Alan Greenspan, Robert E. Hall, Douglas J. Holtz-Eakin, R. Glenn Hubbard, Randall S. Kroszner, Alan B. Krueger, Edward P. Lazear, Lawrence Lindsey, N. Gregory Mankiw, Donald B. Marron, Peter R. Orszag, Adam S. Posen, James Michael Poterba, Christina D. Romer, Harvey S. Rosen, Cecilia Elena Rouse, Jay C. Shambaugh, Robert J. Shapiro, Betsey Stevenson, James H. Stock, Michael R. Strain, Phillip Swagel, John B. Taylor, Laura D. Tyson, Justin Wolfers, and Mark M. Zandi: Letter in Support of the Nomination of Kevin Hassett to be Chairman of the Council of Economic Advisers: "As economists we all agree that the Nation would be well served if Kevin Hassett is confirmed as Chairman of the Council of Economic Advisers...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 6, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 5, 2019)

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  1. Broadway World: Review Roundup: Berkeley Rep's "Metamorphoses"

  2. Scott McGreal: DMT, Aliens, and Reality: "Dimethyltryptamine (DMT) is a naturally occurring psychedelic drug... striking for the brevity and intensity of its effects. When smoked, for example, hallucinogenic effects begin almost immediately and resolve within 30 minutes.... One of the most remarkable features of the DMT experience is the frequency with which users encounter non-human intelligences, often resembling aliens. Even more remarkably, some users come away from these encounters convinced that these entities are somehow real (Strassman, 2001). The psychological aspects of such experiences have not yet been adequately explored by scientific researchers...

  3. Sean Carroll: Mindscape Podcast

  4. Steering by the Socialist Idols in the Heavens Leads Us to Sail Not Towards but Away from the Shores of Utopia: (Early) Monday Corey Robin Smackdown

  5. Robert Waldmann: MMT: "I am kicking myself for deciding to read the article to find if it is as horrible as he asserts. I think it is...

  6. Tom Nichols: The (New) Screwtape Letters: "A view of our political foibles from a highly placed assistant to Our Father Below...

  7. Samuel Bowles, Alan Kirman, and Rajiv Sethi: Friedrich Hayek and the Market Algorithm

  8. Rage Against the Machine: Testify

  9. Jane Coaston: Jacob Wohl, Explained: "Why a failed teen hedge fund manager showed up at CPAC to hold a press conference on a conspiracy theory...

  10. FSB: Global Monitoring Report on Non-Bank Financial Intermediation 2018 - Financial Stability Board: "The Global Monitoring Report on Non-Bank Financial Intermediation 2018 presents the results of the FSB’s annual monitoring exercise to assess global trends and risks from non-bank financial intermediation. The annual monitoring exercise is part of the FSB’s policy work to enhance the resilience of non-bank financial intermediation. It focuses on those parts of non-bank financial intermediation that perform economic functions which may give rise to bank-like financial stability risks (i.e. the narrow measure of non-bank financial intermediation)...

  11. Irene M. Pepperberg (2002): Cognitive and Communicative Abilities of Grey Parrots

  12. Matthew Yglesias: Allen Weisselberg: House Democrats’ Next Target: "The Trump Organization CFO knows things President Trump would prefer kept secret.

  13. (December 2012): Back When I Feared the Bond-Market Vigilantes: Maundering Old-Timer Reminiscence Weblogging: "There had been an attack—or, rather, not an attack but rather bond-market vigilantes visible on the horizon and gunshots in the air—earlier.... Throughout 1992 there was a 4%-point gap between the 3-Month Treasury rate and the 10-Year Treasury rate. Those of us in the Clinton-administration-to-be read this as market expectations that the uncontrolled federal budget deficit would lead people to expect higher inflation and the Federal Reserve would then feel itself forced to raise short-term interest rates far and fast.... I think we were right then to fear and take steps to ward off the bond-market vigilantes—or perhaps only right to fear and take steps to ward off any Federal Reserve decision that it needed to fear and take steps to deal with bond-market vigilantes. In any event, our policies were right. But that was then, with a 4%-point gap between 10-Yr and 3-Mo Treasury yields. Today we only have a 1.6%-point gap between 10-Yr and 3-Mo Treasury yields. 1.6% < 4%...

  14. Ed Kilgore: A New Role for Democratic Centrists: Helping the Left Win: "Democratic centrists need to accept that the Donkey’s moving in a new direction now; fighting it by demonizing the left just makes the calamitous prospect of a second Trump term more likely. And perhaps a new synthesis of left and center-left thinking on politics and policy can emerge, once the scourge of today’s Republicanism is overcome. It’s a more productive occupation than endlessly relitigating the 2016 election...

  15. Teddy Roosevelt: "We Have Traveled Far...": How to Look on Our Predecessors with Charity and Justice: “We have traveled far...“ said Teddy Roosevelt, looking back at the Puritans. And we today, looking back at Teddy Roosevelt, have reason to say the same thing. We can hope that, were Teddy with us today and were he given an opportunity for sober reflection and consideration, he would agree...

  16. William Hogeland: “The National Review,” Racist Writing, and the Legacy of William F. Buckley, Jr. – William Hogeland: "Writing in 1957, Buckley insisted that whites in the South were 'entitled to take such measures as are necessary to prevail, politically and culturally, where they do not prevail numerically'...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 5, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (March 1, 2019)

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Note to Self: Neoliberal: The 2019 Neoliberal Shill Bracket: "The round of 64 polls will be published tomorrow and will remain up for 48 hours. Each round will have its own thread with all the polls in it. There will be a 24 hour cool off period between rounds for tasteful smack talk...


  1. Jeanne Reames: Hephaistion Philalexandros: in Praise of That Guy behind the Throne

  2. Wikipedia: Folie à Deux

  3. David Bandurski: The Dawn of the Little Red Phone | China Media Project

  4. Federal Reserve Bank of New York: Nowcasting Report

  5. Matt O'Brien: The Important Way the 2008 Crisis Was Worse than the Great Depression

  6. Jacob Levy: The Defense of Liberty Can’t Do Without Identity Politics | Democracy for Republicans | Two Hundred Years of the Liberty of the Moderns | Why I Am Not a Moderate

  7. Spencer Strub

  8. Dylan Riley

  9. Anne Case: Deaths of Despair and the Future of Capitalism

  10. The Unreasonable Effectiveness of Mathematics in the Natural Science: This 'what if we took this equation seriously?' factor... is... the spookiest thing.... Take the h in Max Planck's equation seriously, and you have the quantum principle—something that was not in Planck's brain when he wrote the equation down. Take seriously the symmetry in Maxwell's equations between the force generated when you move a magnet near a wire and the force and the force generated when you move a wire near a magnet, and you have Special Relativity—something that was not in Maxwell's brain when he wrote down the equation.Take Newton's gravitational force law's equivalence between inertial and gravitational mass seriously and you have General Relativity—something never in Newton's mind. And take the mathematical pathology at r = 2M in the Schwarzchild metric for the space-timemetric around a point mass seriously, and you have event horizons—and black holes...

  11. Sean Carroll (2009): Boltzmann's Universe: "I wanted to emphasize something Dennis says quite explicitly, but (from experience) I know that people tend to jump right past in their enthusiasm: 'Nobody in the field believes that this is the way things really work, however.' The point about Boltzmann’s Brains is not that they are a fascinating prediction of an exciting new picture of the multiverse. On the contrary, the point is that they constitute a reductio ad absurdum that is meant to show the silliness of a certain kind of cosmology...

  12. Charlie Stross (2008): : The Fermi Paradox Revisited; Random Despatches from the Front Line

  13. Theodor W. Adorno and Max Horkheimer (): _[Dialectic of Enlightenment https://books.google.com/books?isbn=1859841546

  14. Dylan Riley: The Third Reich as Rogue Regime Adam Tooze’s "Wages of Destruction"

  15. Olivier Blanchard: Public Debt: Fiscal and Welfare Costs in a Time of Low Interest Rates

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (March 1, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (February 28, 2019)

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  1. Thomas Jefferson: A Chronology of His Thoughts: "From candlelight to early bedtime, I read...

  2. Max Roser: Light

  3. Erik Loomis: "This Day in Labor History: February 27, 1869: The great workplace safety reformer Alice Hamilton is born. Let's talk about her amazing work and what workers faced in the early 20th century...

  4. Thomas Jefferson: VI. Salary Account of the Department of State, [1 April 1791]

  5. Measuring Worth

  6. *The First Foot Guards Reenactment Group: The Cost of Living: "London, mid 1700s...

  7. William Savage: The Cost of 18th-Century Lighting

  8. Karl Marx (1853): The Future Results of British Rule in India: "All the English bourgeoisie may be forced to do will neither emancipate nor materially mend the social condition of the mass of the people, depending not only on the development of the productive powers, but on their appropriation by the people. But what they will not fail to do is to lay down the material premises for both. Has the bourgeoisie ever done more? Has it ever effected a progress without dragging individuals and people through blood and dirt, through misery and degradation?...

  9. Thomas Jefferson: Statement of Debts, Expenses, and Income, 1 April 1823

  10. Branko Milanovic, Peter H. Lindert and Jeffrey G. Williamson (2011): Pre-Industrial Inequality

  11. Wikipedia: Pareto Distribution

  12. Dev Patel, Justin Sandefur, and Arvind Subramanian: Everything You Know about Cross-Country Convergence Is (Now) Wrong | PIIE

  13. David Roberts: Green New Deal Critics Are Missing The Bigger Picture: "Green New Deal critics are missing the bigger picture...

  14. INET: Global Commission Discusses Tech + the Future of Work in San Francisco: "The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech...

  15. World Bank: Trouble in the Making? The Future of Manufacturing-Led Development

  16. Joe Studwell: How Asia Works: Success and Failure In the World's Most Dynamic Region

  17. Saveur: La Louisiane Cocktail

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Fairly Recently: Must- and Should-Reads, and Writings... (February 27, 2019)

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  1. Sean Illing: "Fascism: A Warning" from Madeleine Albright: "The former secretary of state is sounding the alarm about rising fascism around the world—and in America...

  2. David Goldenberg: The Famous Photo of Chernobyl's Most Dangerous Radioactive Material Was a Selfie - Atlas Obscura: "at first glance, it’s hard to know what’s happening in this picture. A giant mushroom seems to have sprouted in a factory floor, where ghostly men in hardhats seem to be working. But there’s something undeniably eerie about the scene, for good reason. You’re looking at the largest agglomeration of one of the most toxic substances ever created: corium...

  3. Neil Irwin: How America Learned to Stop Worrying and Love Deficits and Debt: "The old rules are being rejected, among liberals and conservatives, politicians and economists...

  4. James Fallows: @jamesfallows: "If you have any experience in government, you will find these 78 seconds stupefying. And if you don’t, let me tell you: this is stupefying. (Lighthizer is right about how international trade agreements work): JM Rieger: @RiegerReport: 'TRUMP: I don’t like MOUs because they don’t mean anything. LIGHTHIZER: An MOU is a contract. TRUMP: I disagree. I think that a memorandum of understanding is not a contract to the extent that we want. CHINA’S VICE PREMIER: [Chuckles] Okay...

  5. Jason Zengerle: The Series of Historical Mistakes That Led to Trump: "Tomasky proposes a raft of reforms to get us out of the polarized mess we find ourselves in. Some, like ending partisan gerrymandering and getting rid of the Senate filibuster, are familiar. Others, like reviving 'moderate Republicanism', are probably futile. But some of his proposals—including... exchange programs... so students from rural areas spend a semester at a high school in a city, and vice versa—are both realistic and novel. Indeed, the most helpful—if sobering—point Tomasky makes is that while our current troubles created the conditions that brought us a President Trump, those troubles would exist no matter who was in the White House. And it will take much more than a new occupant to fix them...

  6. Wikipedia: The Act of Killing: "Directed by Joshua Oppenheimer and co-directed by Christine Cynn and an anonymous Indonesian.... The Act of Killing won the 2013 European Film Award for Best Documentary, the Asia Pacific Screen Award, and was nominated for the Academy Award for Best Documentary Feature at the 86th Academy Awards. It also won best documentary at the 67th BAFTA awards...

  7. BWW: Review Roundup: Critics Weigh In On Berkeley Rep's Paradise Square: An American Musical

  8. Yannay Spitzer: Research Papers

  9. Yannay Spitzer: Bits and Pieces of My Work and Interests

  10. Philip Klotzbach: @philklotzbach: "Supertyphoon #Wutip has now generated the most Accumulated Cyclone Energy for any Northwest Pacific #typhoon during February on record (since 1950), breaking old record set by Nancy (1970). #SuperTyphoonWutip...

  11. Wikipedia: Supertyphoon Wutip: "Early on February 25, Wutip reached its peak intensity as a Category 5-equivalent super typhoon, with maximum 10-minute sustained winds of 195 km/h (120 mph), 1-minute sustained winds of 260 km/h (160 mph), and a minimum central pressure of 915 hPa (mbar). As of 12:00 UTC on February 25, Typhoon Wutip is located near 14.2°N 140.1°E, also about 280 nautical miles (520 km; 320 mi) north-northeast of Yap. Maximum 10-minute sustained winds are at 105 knots (195 km/h; 120 mph), while maximum 1-minute sustained winds are at 130 knots (240 km/h; 150 mph), with gusts up to 150 knots (280 km/h; 175 mph)...

  12. Shushman Choudhury, Michelle Lee, and Andrey Kurenkov: In Favor of Developing Ethical Best Practices in AI Research

  13. Miniver Cheevy: DeLong's Principles Of Neoliberalism

  14. No s---: Economist: How Welfare Reform Has Had a Negative Effect on the Children of Single Mothers: "Any short-term gains from welfare reform may have come at a cost to the next generation, leading to more of the type of behaviour associated with a “culture of poverty” that the reform was meant to combat...

  15. Simon Potter: Models Only Get You So Far: "My remarks will focus on some insights from the book Superforecasting by... Tetlock and... Gardner.... What are some of the underlying reasons individuals and organizations fail to predict? What should we change about our mindsets and practices to improve the chances that we 'notice it' next time, whenever that may be?... Be humble, always question, listen to alternative views, and—very comfortingly for Bayesians like me—always express your forecast as a distribution rather than a point forecast, and crucially update that forecast when new information arrives. Further, constantly assess why forecasts worked and didn't work...

  16. Wikipedia: The Hunters of Kentucky

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Fairly Recently: Must- and Should-Reads, and Writings... (February 23, 2019)

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  1. Against Alasdair Macintyre's "After Virtue"...: Alasdair Macintyre, at least in his _After Virtue _mode, believes that good civilizations are ones with moral consensus led by prophets, rather than ones with moral confusion managed by managers... Trotskys (less preferred) or St. Benedicts (more preferred), but... [not] managerial Keyneses.... Trotsky says that History speaking through Marx and him knows how to build a Communist utopia. What is a Communist utopia? It is a society... well-fed, well-clothed, well-housed, and well-entertained.... We can see that Keynes was totally correct in wanting to reduce the influence of a Trotsky in the public square, because a Trotsky’s ideas about good organization of the economy were seen immediately by Keynes as, and turned out to be a horrible disaster, even from the perspective of Trotsky’s values—especially from the perspective of Trotsky’s values...

  2. Òscar Jordà, Chitra Marti, Fernanda Nechio, and Eric Tallman: Inflation: Stress-Testing the Phillips Curve: "The increased importance of inflation expectations exposes new risks to standard monetary policy practice. In particular, it suggests that conducting policy consistently to keep expectations well-anchored to the target is key to avoiding large swings in inflation. When policy is set consistently, the public discounts deviations of the unemployment rate from its natural rate and of inflation from its target as transitory...

  3. David Leonhardt: New York Did Us All a Favor by Standing Up to Amazon - The New York Times: "Yes, Amazon’s departure will modestly hurt the city’s economy. But it’s also a victory against bad economic policy...

  4. Joe Heim: Acts of Extreme Vandalism by Students Stun Gonzaga College High School

  5. Meeting of the Federal Open Market Committee on November 1–2, 2011

  6. TBPInvictus (2012): Open Mouth, Insert Foot: Going Viral?: "I had barely finished reading Niall Ferguson’s takedown of President Obama when a flood of takedowns of Mr. Ferguson started hitting the web. This post, then, will not be about his Newsweek piece, but instead about his recent Bloomberg TV interview with Erik Schatzker and Sara Eisen. And, in particular, one very specific part of that interview where Ferguson makes what is well beyond what I could even charitably refer to as a rookie mistake...

  7. Izabella Kaminska: Stuff Elon Says: "Elon Musk is often dubbed a genius. And yet... if the following statement Musk made during the Tesla Q4 earnings call is anything to go by, he has a habit of stating the obvious and thinking it sounds deeply profound and insightful: 'The demand for-the demand for Model 3 is insanely high. The inhibitor is affordability. It's just like people literally don't have the money to buy the car. It's got nothing to do with desire. They just don't have enough money in their bank account. If the car can be made more affordable, the demand is extraordinary...' So, to help introduce Elon to the concept of how demand and supply interacts with price we thought we'd take the above quote and adapt it according to various economic scenarios in classic econ text book style...

  8. Cheddar: How Focus Music Hacks Your Brain

  9. Greg Farrell: Paul Manafort Could Face New York Charges If Trump Pardons Him: "Cy Vance has been investigating ex-Trump aide since 2017. District Attorney sees way to avoid double jeopardy protection...

  10. Maya Gurantz: Kompromat: Or, Revelations from the Unpublished Portions of Andrea Manafort’s Hacked Texts - Los Angeles Review of Books

  11. Pyeong Chang Tofu House: Menus

  12. Now compiling and sending out fewer links than in the past, but still by far the best sorter and selector of what is interesting in economics: Mark Thoma: Economist's View: Links (2/19/19)

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Fairly Recently: Must- and Should-Reads, and Writings... (February 21, 2019)

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  • Comment of the Day: Graydon: "I am pretty sure that the theoretical case—that there's secure encryption—has been, in practical terms, backdoored out of existence at the hardware level. It is difficult to find out, one way or the other. So it's 'no one is secure' AND 'no one knows how secure they're not against which adversary' AND 'humans aren't actually generally capable of doing secure things', all together... #commentoftheday #riseoftherobots

  • Comment of the Day: JEC: "I think we should place more emphasis on the fact that the resolution of the Cuban Missile Crisis depended critically on the asymmetry between the American and Soviet political systems. A win-win outcome was possible only because Kennedy needed to 'win' in public, but could 'lose' in secret, while Khrushchev could tolerate a public 'loss' provided he could show CPSU insiders a secret 'win'. As a side note, I think this piece officially qualifies Niall as the 'Eugene Fama of historians', someone who's public polemic demonstrates a deep and profound ignorance of the body of knowledge created by his own discipline. Seriously, the Cuban Missile Crisis has been the subject of intense historical research since the collapse of the Soviet Union, approximately none of which supports Ferguson's 'take'... #commentoftheday #security #gametheory


  1. Mesa Verde National Park

  2. Meteor Crater

  3. *Lynn Schooler * (2005): The Last Shot: The Incredible Story of the C.S.S. Shenandoah and the True Conclusion of the American Civil War https://books.google.com/books?isbn=0060523336

  4. Roger Miller (1965): King of The Road

  5. Wikipedia: Xiaolongbao

  6. Serious Eats: Gong Bao Ji Ding

  7. Wikipedia: Lapsang Souchong

  8. Michael O'Hare: Do Professors Care Whether College Students Are Actually Learning?: "What we need is not a cheap, lazy way to pretend we are improving our teaching, but a real quality assurance program that a Google or Toyota manager, for example, would recognize as such.... Are you a student, paying through the nose with your time and money for the best possible education?... If you don’t get good answers, recruit your classmates to go in the quad with pitchforks and torches...

  9. Wikipedia: Queen

  10. Bruce Schneier: There's No Good Reason to Trust Blockchain Technology | WIRED: "What blockchain does is shift some of the trust in people and institutions to trust in technology. You need to trust the cryptography, the protocols, the software, the computers and the network. And you need to trust them absolutely, because they’re often single points of failure. When that trust turns out to be misplaced, there is no recourse...

  11. Pottery Barn: Cameron Square Arm Upholstered Sofa with Reversible Chaise Sectional

  12. Wikipedia: Electrical Telegraph

  13. Menzie Chinn: Industrial and Manufacturing Production Decline: Whence the Business Cycle?: "The advance and second release of GDP will be releaseed (as an “initial” release) on February 28. Until then, keep on guessing!...

  14. Temi | Trint | Rev

  15. The Mediterranean Dish: Mediterranean Pan Seared Sea Bass Recipe

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (February 21, 2019) " »


Fairly Recently: Must- and Should-Reads, and Writings... (February 18, 2019)

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  1. The Market: As an Institution, Its Pros, and Its Cons: People... want to enter into reciprocal gift-exchange relationships.... We devised property as a way of constructing expectations of trust.... We devised money as a substitute for trust.... And so, on the back of these human propensities... we have constructed a largely-peaceful global 7.4B-strong highly-productive societal division of labor... #berkeley #economics #marketfailure #marketsuccess #economicinstitutions 2019-02-18

  2. Modes of Market Failure: At lunch last week Richard Thaler was skeptical that I had managed to identify ten different modes of market failure. I admit that this list has a little too much of the Borges-List Nature, but I do think it holds up. What do you think?: The Market Economy: Modes of Failure: Markets can go wrong—badly wrong. They can... #berkeley #economics #marketfailure 2019-02-18

  3. Still Haunted by the Shadow of the Greater Recession... #presentations #greatrecession #macro #economicgrowth #economichistory #economics #finance #monetaryeconomics 2019-02-16

  4. Hoisted from the Archives: Note: The Ten Americans Who Did the Most to Win the Cold War: "Harry Dexter White... George Kennan... George Marshall... Arthur Vandenberg... Paul Hoffman... Dean Acheson... Harry S Truman:... Dwight D. Eisenhower... Gerald Ford... George Shultz... #hoistedfromthearchives #politics #security #history 2019-02-15


  1. I don't know about this "global middle class from 10 to 100 dollars a day" stuff. That seems much too low to me...: Homi Kharas and Kristofer Hamel: A global tipping point: Half the world is now middle class or wealthier

  2. Wikipedia: European Research Group

  3. Randy Wray: Modern Money Theory: How I Came to MMT and What I Include in MMT

  4. Wikipedia: Steven van Zandt

  5. Deepak Hegde, Kyle Herkenhoff, and Chenqi Zhu: Patent Publication and Technology Spillovers: "Invention disclosure through patents (i) increases technology spillovers at the extensive and intensive margins (ii) increases overlap between distant but related patents and decreases overlap between similar patents (iii) lowers average inventive step, originality, and scope of new patents (iv) decreases patent abandonments and (v) increases patenting...

6.Wikipedia: Valle de Bravo

  1. DIY Cookie Butter Recipe

  2. Wikipedia: Hohenzollern-Hechingen

  3. Wikipedia: House of La Fayette

  4. Wikipedia: Celestial Emporium of Benevolent Knowledge

  5. History Matters: Eight Hours for What We Will!

  6. Octavia

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Fairly Recently: Must- and Should-Reads, and Writings... (February 14, 2019)

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  1. Jill Abramson, Formerly of the New York Times, Has Both a Depraved Heart and a Social Intelligence Deficit: She thus made seven changes to Malooley's first sentence, in the process dividing it into two.... She thus made one change to Malooley's second sentence. She then left Malooley's third sentence alone. Clearly the effort of making seven discrete changes to the first sentence had exhausted her...

  2. Note to Self: Thinking About Blanchard's Presidential Address...: Blanchard's calculations of the effect of debt on welfare in his AEA Presidential Address all take the form of evaluating the welfare of a generation of economic agents young in some period t after the resolution of all period-t stochastic elements. That is a fine thing to do. That is not quite the same thing as the effect on expected well-being behind the veil of ignorance...

  3. Note to Self: All of these people are now very, very quiet: Robert J. Barro, Michael J. Boskin, John Cogan, Douglas Holtz-Eakin, Glenn Hubbard, Lawrence B. Lindsey, Harvey S. Rosen, George P. Shultz and John. B. Taylor.... James C. Miller III... Barry W. Poulson... Charles W. Calomiris... Donald Luskin... 95 others... Susan Collins...

  4. Note to Self: Speaker: "We are bursting at the seams! We have more students than robots!...


  1. Jeff Yarbro: @yarbro: "The Constitution anticipates a President like this. It does not anticipate a Congress so indifferent to a President like this...

  2. Abba P. Lerner (1943): Functional Finance and the Federal Debt

  3. Patrick Iber: "I hereby donate 'Reichstag Fyre Festival' to the public domain...

  4. Alex Ward: 25th Amendment: Andrew McCabe says in 60 Minutes Interview that DOJ Discussed Option to Oust Trump: "McCabe is back with a vengeance.... Some top Trump officials feel the president isn’t up to the job...

  5. Wikipedia: 1989 murders of Jesuits in El Salvador: "Ignacio Ellacuría, S.J. Ignacio Martín-Baró, S.J. Segundo Montes, S.J. Juan Ramón Moreno, S.J. Joaquín López y López, S.J. Amando López, S.J. Elba Ramos. Celina Ramos...

  6. The Browser

  7. Michael K. Spencer: The Failure of Crypto Tribalism: "The majority of ICOs aren’t genuine companies, don’t have real products and never were intended to be sustainable business models. That’s a severe problem in ethics of these young engineers and young executives playing with Dapps and investors who are prone to fraud, hype and crypto trafficking of the worst kind-deceit...

  8. Zack Beauchamp: Watch Rep. Ilhan Omar hold Elliott Abrams, Trump Venezuela envoy, accountable - Vox: "A rare example of elite accountability...

  9. John Scalzi: Courtesy of @joshtpm, a principle henceforth to be known as "Trump's Razor": Josh Marshall: Dominance and Humiliation, No Middle Ground: "I’ve been praised in recent months for having some handle on the Trump phenomenon. The truth is a little different. Early on I realized that when it came to Trump if I figured out the stupidest possible scenario that could be reconciled with the available facts and went with it, that almost always turned out to be right. The stupider, the righter.... I just kept following that model and it kept working...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (February 14, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (February 12, 2019)

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  1. Hoisted from the Archives: Cosma Shalizi (2007): Those Voices Again...: : "Q: Do you ever get tired of beating that dead horse? A: It's not dead yet; that horse will keep kicking until the last person who thinks there's something to The Bell Curve is hanged in the entrails of the last Durkheimian...

  2. Note to Self: Kim Clausing: Open: The Progressive Case for Free Trade, Immigration, and Global Capital: "Monday, February 11, 2019 from 4:00 PM to 6:00 PM (PST). IRLE. 2521 Channing Way. Berkeley, CA 94720: https://books.google.com/books?isbn=0674919335: "With the winds of trade war blowing as they have not done in decades and Left and Right flirting with protectionism, Kimberly Clausing shows how a free, open economy is still the best way to advance the interests of working Americans. She offers strategies to train workers, improve tax policy, and establish a partnership between labor and business...

  3. Please Help Me Out Here!: The Charge of the Brexit Brigade: “Forward, the Brexit Brigade!” Was there a man dismayed? Not though the soldier knew Someone had blundered...

  4. It Is Saturday Morning, and Joe Weisenthal Is Trying to Start a... Symposium... on Twitter: Make mine Professor Cornelius Ampleforth’s navy-strength bathtub gin: Joe Weisenthal: @TheStalwart: "Should I do a tweetstorm on what I think mainstream Keynesians like @paulkrugman @Nouriel and @ObsoleteDogma get wrong about Bitcoin?... I think most Keynesian types see Bitcoin as a horribly inefficient medium of exchange, whose loudest advocates include many scammers, charlatans, misanthropes, and Austrian economics adherents. And tbh, this is basically all true. But...

  5. This Is Nuts. When's the Crash?: The highly-estimable FT Alphaville has long had a series: This is nuts. When's the crash?. That is my reaction to learning that Hoover Institution senior fellows are now crypto... It is not at all clear to me whether they are grifters or griftees here... I had known about John Taylor, but had thought that was a strange one-off. And now Niall Ferguson. Is anybody even pretending to have a business model other than pump-and-dump? I think the only appropriate response is here: Moon Lambo...

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Fairly Recently: Must- and Should-Reads, and Writings... (February 8, 2019)

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  1. Debt Derangement Syndrome: Fresh at Project Syndicate: Standard policy economics dictates that the public sector needs to fill the gap in aggregate demand when the private sector is not spending enough. After a decade of denial, the Global North may finally be returning to economic basics...

  2. A Rant on Trump, Trade, and China...: Then, lo and behold, suddenly someone convinces trump that the TPP is the second-worst trade deal in American history—"it's almost as bad as NAFTA!"—and you switch sides: all of a sudden you are there on Trish Regan's show claiming the TPP is a horrible deal for America...

  3. Weekend Reading: : Trust and the Benefit of the Doubt: Dietz Vollrath sends us to a classic story from the late Douglas Adams.... 'This actually did happen to a real person, and the real person was me...

  4. I Want to Take a Virtual Course on the Public Sphere in the Age of Costless Electronic Reproduction. What Should I Read?

  5. Comment of the Day: Kansas Jack: A Very Nice Twitter Rant from Tom Nichols: "It isn't about anything of substance, it is about being pissed off. Period. About what? Doesn't matter.... It wasn't that it fell on deaf ears because they couldn't understand, they simply didn't care. And the more it mattered to you, the happier they were...

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Fairly Recently: Must- and Should-Reads, and Writings... (February 5, 2019)

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  1. Hoisted from the Archives: "Gunpowder Empire": Should We Generalize Mark Elvin's High-Level Equilibrium Trap?: Looking forward from even as late as 1750, therefore, it is not insane to project that the Gunpowder Empire is in the natural course of events the climax socioecological state of the Sociable Language-Using East African Plains Ape. The notional quartering of farm sizes worldwide from 500 BC to 1500 had been offset by the development of maize, of double-crop wet rice, of the combination of the iron axe and the moldboard plow that could turn northern temperate forests into farms, the domestication of cotton, and the breeding of the merino sheep. People in 1500 were as well fed and clothed as they had been in 500 BC. But what would have been the next agricultural miracle technologies... to... compensate for the further quartering of farm sizes that would have been inevitable had population growth continued and human numbers topped 2 billion in 3500[?] And where would the breakthrough to steampower—or even to enough fodder to feed enough draft animals for oxen and horses to replace or even supplement human backs and thighs—to interrupt this Gunpowder-Empire climax socioecology of the Sociable Language-Using East African Plains Ape come from?...

  2. Comment of the Day: Graydon: "Anyone who can put off investing is going to do so; there's Brexit, there's 'Ok, yeah, there isn't an adult anywhere in the Trump administration', plus there's the complete lack of statistics. Uncertainty is high and rising. Incompetence has real costs...

  3. Blogging: What to Expect Here...: The purpose of this weblog is to be the best possible portal into what I am thinking, what I am reading, what I think about what I am reading, and what other smart people think about what I am reading...

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Fairly Recently: Must- and Should-Reads, and Writings... (February 3, 2019)

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  1. Weekend Reading: Tren Griffin: A Dozen Things I’ve Learned from Charlie Munger about Capital Allocation: "There are two kinds of businesses: The first earns 12%, and you can take it out at the end of the year. The second earns 12%, but all the excess cash must be reinvested.... We hate that kind of business”...

  2. Note to Self: A Comment on 'Development Engineering': The economy is a decentralized societal calculating machine... in which incentives are, and "doing well" achieved by, increasing resources that produce things for which rich people have a serious Jones...

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Fairly Recently: Must- and Should-Reads, and Writings... (January 31, 2019)

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  1. Yes, There Are Individual Economists Worth Paying Respect to. But Is Economics Worth Paying Respect to?: Blush. To be one of fifteen good economists name-checked by Larry Summers genuinely makes my day—nay, makes my week. But.... Yes, there are very many good economists worth listening to. But does economics as a whole have any claim to authority, or is it better for outsiders' first reaction to be to dismiss its claims as some combination of ideology on the one hand and obsequious toadying to political masters on the other?...

  2. Comment of the Day: Cervantes: Yes, There Are Individual Economists Worth Paying Respect to. But Is Economics Worth Paying Respect to?: "The introductory economics course... 1) Propound a list of assumptions which are not true; 2) Develop an elaborate theory of how the world would be were the assumptions true; 3) Forget that the assumptions are false and carry on...

  3. Commonwealth Club: Annual Economic Forecast Event (January 25, 2019): Relevant Files

  4. Some Great Past First-Year Berkeley Economic History Course Papers

  5. Note to Self: In response to EconSpark: Ben Bernanke: "How important was the financial panic as a cause of the Great Recession?": From 2005 through the end of 2007 the housing bubble breaks—and real housing investment relative to potential real GDP falls by 3.3%-points of real potential GDP. Yet there is no recession. Expenditure is smoothly switched from residential investment to exports and non-residential investment. Consumption is not noticeably weak in spite of the impact of diminished housing wealth on households. Thus my belief that if the financial crisis had been managed—if the Bagehot Rule had been followed, and if there had been authorities to lend freely at a penalty rate on collateral that was good in normal times—and if 2008 had passed without a crash, then our proves would have been over. It was not the case that the economy in November 2008 "needed a recession" as John Cochrane liked to claim, "because people pounding nails in Nevada needed to find something else to do"...

  6. Adrian Wooldridge Is... the Vicar of Bray!: Hoisted from the Archives: "The Illustrious House of Hannover,/And Protestant succession,/To these I lustily will swear,/Whilst they can keep possession:/For in my Faith, and Loyalty,/I never once will faulter,/But George, my lawful king shall be,/Except the Times shou'd alter"...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (January 31, 2019)" »


Fairly Recently: Must- and Should-Reads, and Writings... (January 26, 2019)

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  1. U.S. Recession No Longer Improbable: No Longer Fresh at Project Syndicate: For the first time in nine years, Americans and investors in America need to be prepared for not a probable but rather a not improbable economic downturn—and for the likelihood that should such a downturn come, it will be a deep and prolonged one...

  2. Note to Self: Time to taunt people on the other coast?...

  3. Commonwealth Club: Annual Economic Forecast: FRI, JAN 25 / 12:00 PM :: The Commonwealth Club :: 110 The Embarcadero :: Taube Family Auditorium :: San Francisco, 94105: With changes to taxes, trade wars with China and other countries, health care in flux, housing prices continuing to rise, continued governmental gridlock as well as international challenges to the United States, what does all of this mean for your business, your investments and the overall economy for 2019?...

  4. Note to Self: The Two Best Books I Read in 2018: John Carreyrou: Bad Blood.... Adam Tooze: Crashed...

  5. Note to Self: Write a Project Syndicate column about these, someday: "Anastas Mikoyan and Boris Ushumirskiy: The Book of Tasty and Healthy Food. Anya Von Bremzen: Mastering the Art of Soviet Cooking: A Memoir of Food and Longing...

  6. Hoisted from the Archives from 2005: Kevin Drum: The Wall Street Journal Editorial Page Is More of a Joke than Ever: "Reagan produced the slowest growth in... any decade since World War II. That's a real supply side triumph. Welcome to the Journal, Steve. You guys deserve each other...

  7. Hoisted from the Archives from 2010: If You Did Not Think UCLA Law Professor Steve Bainbridge Had Lost His Mind—or Perhaps Had No Mind to Lose—You Do Now...: I genuinely thought this was a joke when I first saw it. But, no, people who deal with him every week have persuaded me UCLA law professor Steve Bainbridge really does think Paris Hilton is the tenth worst American of all time...

  8. Hoisted from the Archives from 2016: Ben White: "Ben White: Morning Money: "Larry Kudlow and Steve Moore... [were] confident he and Kudlow could help nudge Trump away from his protectionist trade policies.... Moore noted that Trump has largely stopped talking about big tariffs on Chinese goods...

  9. Watch Me at the Commonwealth Club Annual Economic Forecast!

  10. Commonwealth Club Talking Points (January 25, 2019): Forecasting and Steve Moore Edition: The Shutdown: Let's review the bidding: Pelosi, Ryan, McCarthy, Schumer, McConnell, Trump reached a deal...

  11. Hoisted from the Archives: The Kansas Republican Governance Experiment. Or Is That "Governance 'Experiment'"? Or Is That "'Governance' Experiment"?: Nothing like this was seen before.... It is only under Brownback that it has been down, down, down, down. You can argue how much of it is hostility to immigrants and strangers. How much of it is the profoundly un-Christian cast of a "Christian" government, and how much of it is the collapse of public services. But it has been effective. My friend Dan Davies says that the best proof that there is a skill and art of management comes from the fact that nobody doubts that there is such a thing as gross mismanagement...

  12. Note to Self: The Heritage Foundation, the Club for Growth, and Stephen Moore Have No Principles Whatsoever. Why Do You Ask?: Now that Stephen Moore has signed up with Donald Trump, he is opposed to the Trans Pacific Partnership.... But... short months ago... Larry Kudlow, Arthur Laffer, and Stephen Moore (2015): "TPP Good For Both Sides Of The Pacific...

  13. The Economic Forecast: Commonwealth Club Non-Public Event Opening Statement: Some people think the Federal Reserve is about to back off. Some people think that this time really is different—that the bond market is spooking at shadows this time. Give each of these a 25% chance of being right, and you have to say that there is a 50% chance the U.S. will be in recession in a year and a half...

  14. Note to Self: How is it that Charlie Sykes, author of the appallingly-bad Profscam, is now one of the best-in-breed conservative? How did this happen?: The Bulwark—Conservatism Conserved...

  15. Talking Points and Snippets from Commonwealth Club January 25, 2019 Forecast Event: The Shutdown: Let's review the bidding: Pelosi, Ryan, McCarthy, Schumer, McConnell, Trump reached a deal. Deal passes Senate unanimously. Trump watches "Fox and Friends". Trump announces he won't sign the deal. Paul Ryan—desperate not to embarrass Trump more—won't let the House vote on the deal...

Continue reading "Fairly Recently: Must- and Should-Reads, and Writings... (January 26, 2019)" »


Be the Podcast You Want to See in the World!

We are going to need more monkeys Google Search

The very sharp Arindrajit Dube was, as one does, procrastinating on twitter:

Arindrajit Dube: Somehow I find the econ podcast space is mostly occupied by ideological right wingers, as opposed to people interested in an open minded, evidence informed economics. Who am I missing?

And my instantaneous reaction was: BE THE PODCAST YOU WANT TO SEE IN THE WORLD!

Brad DeLong: Let's start a podcast!

Arindrajit Dube: Wait Brad, is this a serious offer? :-)...

And the public chimed in:

Suresh Naidu: Do it!
Matthew Yglesias: You guys should do this for real
Robert Waldmann: You really do have to do the podcast (or block me). I will tweet complaints until you do it.
Aaron Sojourner: It would be incredibly valuable service.
Erik: Do it!
Dr. A. Duus Pape: I'd subscribe in a heartbeat.

Arindrajit Dube: God damn it Brad now Matt Y is on board and I am seriously screwed...

So it looks like we may be doing this for real—once a week, half-hour chunks, starting out as amateur hour only. First topic: thinking about what marginal tax rates on the rich should be.

What say you all?

Continue reading "Be the Podcast You Want to See in the World!" »


Fairly Recently: Must- and Should-Reads, and Writings... (January 15, 2019)

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  1. Global North research university problem: Speaker: "My major concern is: How can I be interested in fewer things?...

  2. Welcome to the 21st-century, in which my coffee machine says that it is “booting”...

  3. For the Weekend: 2018 In Weather

  4. Costs and Benefits of International Capital Mobility: Reply to Bhagwati: Hoisted from 20 Years Ago: Needless to say, time has left me a lot wiser: We need to design economies so that they can operate without disaster even when deregulatory clowns like those of the George W. Bush or the Donald J. Trump administrations are in control of the levers of policy at key moments...

  5. Comment of the Day: Charles Steindel: "British produce comes in before the Swiss spaghetti harvest?...

  6. Supply and Demand Shocks, and Seasonal Adjustment: Think that there are no such things as aggregate fluctuations generated by shifts in tastes and technologies? Think again. Look at the pattern of monthly payroll employment changes...


  1. A million dollars? As a tort settlement? What was going on?: Michelle Boorstein: C. John McCloskey: Opus Dei paid $977,000 to settle sexual misconduct claim against prominent Catholic pries

  2. That conservative parties' policies redistribute wealth and power upward while distracting their mass base by focusing them on internal or external enemies has long been the point of Toryism—since before try Gordon Riots, in fact. And now Tucker Carlson is surprised that there is gambling going on, and is just asking questions? Does he want us to take him seriously?: Eric Levitz: Why Tucker Carlson Plays a Critic of Capitalism On TV: "Melinda Cooper... explains: 'Writing at the end of the 1970s, the Chicago school neoliberal Gary Becker remarked that the “family in the Western world has been radically altered—some claim almost destroyed—by events of the last three decades.”… Becker believed that such dramatic changes in the structure of the family had more to do with the expansion of the welfare state in the post-war era than with feminism per se... a consequence rather than an instigator of these dynamics.... Becker’s abiding concern with the destructive effects of public spending on the family represents a key element of his microeconomics... that is consistently overlooked'...

  3. Farmers, miners, merchants, assembly-line workers—four key categories of workers that at various times in the past had to be supported and nurtured in order to create the wealth of a nation. Now none of those categories seem likely to embrace any substantial proportion of any future workforce. So how, then, we inquire, are we to understand the nature and causes of the wealth of nations in our future?: David desJardins: "It's too Late for Industrialization and Manufacturing to be a Path to Increasing Returns for Developing Countries.: "he information economy... is where the real increasing returns are today.... The key question for developing economies today is whether they can take advantage of the information economy.... China has moved pretty darn quickly up the ladder. Basically created a significant number of rather productive information workers in a single generation... #globalization #economicgrowth #riseodftherobots

  4. David Cho: The Labor Market Effects of Demand Shocks: Firm-Level Evidence from the Recovery Act: "How do firms respond to demand shocks?... Leveraging two firm-level datasets... linked employer-employee administrative records for a subset of U.S. firms from ADP, LLC with a comprehensive database of transactions from the American Recovery and Reinvestment Act (ARRA)... I compare firms that received ARRA funds to a counterfactual sample of employers that were not directly connected to the Recovery Act.... The magnitudes of these changes suggest that the labor supply to an individual firm is relatively inelastic, even in a deep recession, and provide evidence of monopsonistic wage-setting in U.S. labor markets... #fiscalpolicy

  5. Noah Smith: Unions Did Great Things for the American Working Class: "Politically and economically, unions are sort of an odd duck. They aren’t part of the apparatus of the state, yet they depend crucially on state protections in order to wield their power. They’re stakeholders in corporations, but often have adversarial relationships with management. Historically, unions are a big reason that the working class won many of the protections and rights it now enjoys... #equitablegrowth #labormarket #politicaleconomy

  6. Paul Krugman (1998): America the Boastful

  7. Jagdish Bhagwati (1998): The Capital Myth

  8. Sendhil Mullainathan: Using Machine Learning to Understand Health Care Systems: "Machine learning... can also be used to improve our understanding of the health system itself... contribute to empirical science and better grounded policy. I describe results from two projects where the predictive approach proves particularly illuminating, both on 'wasted' spending: one on over-testing and the other on the high concentration of spending at the end of life. I will also describe methodological issues that arise that are relatively neglected in the machine learning literature, such as measurement error and the impact of unobserved variables...

  9. Lyz Lenz: You Should Care That Richard Spencer's Wife Says He Abused Her: "Despite the so-called alt-right’s attempt to be respectable, violence seems to follow it everywhere—even, allegedly, into Spencer’s own home...

  10. Seems to me @biscuit_ersed and everybody else needs their first game-theory lecture to be (1) defect-defect as dominant-strategy Nash equilibrium in prisoner's dilemma, (2) the unraveling equilibrium in finite related prisoner's dilemma, and (3) this first prisoner's dilemma ever played: http://www.j-bradford-delong.net/economists/prisoners_dilemma.html https://twitter.com/biscuit_ersed/status/1084812993509105671... #economics

  11. UCLA Gymnastics: "A 🔟 isn't enough for this floor routine by @katelyn_ohashi...

  12. Marie Le Conte: "One of my favourite things about being alive in 2019 is vaguely remembering that someone once sent you something you now need and having to look through the conversation archives of four different social media platforms to find it...

  13. Flood and Dresher devised a simple game where Nash equilibrium wasn't such a good outcome......

  14. Welcome to the 21st-century, in which my coffee machine says that it is “booting”...

  15. The very sharp Jeet Heer traces David Brooks's intgellecutal panic back to the John Birch Society; Jeet Heer: A Few Thoughts on "Cultural Marxism," Marcuse, John Wayne, the John Birch Society, and Anti-Semitism: "Goobers in the Trump administration are worried about 'Cultural Marxism' in the 'Deep State' opposing Trump.... 'Cultural Marxism' is a big boogeyman on the alt-right: it's the people who are supposedly responsible for creating PC, feminism, etc. The actual historical 'cultural Marxists' (or 'Western Marxists') were the Frankfurt School: Adorno, Benjamin, Marcuse etc... sought to supplant and update Marx's economic system with recognition of cultural forces...

  16. Todd C. Neumann, Price V. Fishback, and Shawn Kantor: The Dynamics of Relief Spending and the Private Urban Labor Market During the New Deal: "Positive shocks to relief during the First New Deal were followed by increased private employment and earnings, consistent with demand stimulus in that period...

  17. Delany Crampton: Veterans in the U.S. Labor Market Face Barriers to Success That Can and Should Be Addressed - Equitable Growth: "Anna Zogas of the University of Washington observes in her 2017 research that the U.S. military does an extremely effective job of training veterans to operate within the military and an extremely poor job of preparing them, especially young servicemembers, for post-military job...

  18. According to my Grandmother Florence Richardson Usher Lord, my Great-Great Uncle Abbott Payson Usher back in The Day used to teach—very boringly, she said—(1) Middle Ages, (2) Commercial Revolution, (3) Industrial Revolution, (4) Age of Modern Science, with growth accelerations in each of the four: Dietz Vollrath: Sustained growth and the increase in work hours: "Jane Humphries and Jacob Weisdorf... labor contract terms in England over several centuries... annual labor contracts starting seeing sustained growth in their value around 1650 or so, far sooner than the day wages indicated...

  19. Xavir Jaravel (2017): Product innovations and inflation in the U.S. retail sector have magnified inequality: "shifts in income distribution in the United States lead to product innovations that target high-income households, which increases purchasing-power inequality...

  20. Stephanie Victoria: "I'm a say this lil story then I'm gon' let'chall get back to tweeting...: Recently, I discovered a grocery story even bougie-er than Whole Foods in my new 'hood. My addition to the list of 'approved negroes after 6PM' recently went through so my neighbors have stopped staring at me & the resident coons only give disapproving looks on trash day instead of their usual 'don't start no trouble' slave talks in the hallway...

  21. David Rezza Baqaee and Emmanuel Farhi: The Microeconomic Foundations of Aggregate Production Functions: "We provide a general methodology for analyzing...aggregate production functions by deriving their first- and second-order properties... provide non-parametric characterizations of the macro elasticities of substitution between factors and of the macro bias of technical change in terms of micro sufficient statistics. They allow us to generalize existing aggregation theorems and to derive new ones. We relate our results to the famous Cambridge- Cambridge controversy...

  22. Equitable Growth Steering Committee member Karen Dynan and company point out a big problem. Should we be trying to pay down our debt now in order to create "fiscal space"? Our should we take secular stagnation seriously, and not fear the possibilty of a sudden downward valuation of government debt that would take fiscal space away?: Karen Dynan, Jay Shambaugh, and Eduardo Porter: What Tools Does the U.S. Have to Combat the Next Recession?: "Today's lower equilibrium interest rates make it more likely that monetary policy would need to make use of unconventional tools to spur the economy. On the fiscal front, we have a much larger level of government debt relative to GDP than we did prior to the financial crisis. However, viewing this level of debt to GDP as a reason to restrain stimulus spending in case of a crisis could make the problem worse. Whether the government uses fiscal policy to stimulate the economy will depend more on political willingness, than on the actual limits on fiscal policy...

  23. This book is fun!: Jeff Erickson: Algorithms: "'Algorithm' does not derive... from the Greek roots arithmos (αριθοσ), meaning “number”, and algos (αλγοσ), meaning 'pain'. Rather, it is a corruption of the name of the 9th century Persianm athematician Muhammad ibn Musa al-Khwarizmi. Al-Khwarizmi is perhaps best known as the writer of the treatise Al-Kitab al-mukhtasar fihisab al-gabr wal-muqabala, from which the modern word algebra derives. In a different treatise, al-Khwarizmi described the modern decimal system for writing and manipulating numbers—in particular, the use of a small circle or sifr to represent a missing quantity—which had been developed in India several centuries earlier. The methods described in Al-Kitab, using either written figures or counting stones, became known in English as algorism or augrym, and its figures became known in English as ciphers...

  24. Abbott Payson Usher (1921): European Economic History: European Industry and Commerce in the Nineteenth Century. Half-course (second half-year). Tu., Th., Sat., at 9. Dr. Usher

  25. Irwin Collier presents my Great-Great-Uncle Abbott's 1922 exam: Abbott Payson Usher: Final Exam Questions for: European Industry and Commerce in the Nineteenth Century, 1922

  26. Nicholas Lardy: Xi Jinping’s Turn Away from the Market Puts Chinese Growth at Risk: "Credit is flowing to state-owned companies, not more productive private ones...


Fairly Recently: Must- and Should-Reads, and Writings... (January 10, 2019)

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  1. Note to Self: No, Apple! No Potty Mouth, Please!: Today I am disturbed that Apple voice recognition keeps hearing “slut“ when I say “slack“...

  2. Comment of the Day: BruceJ: "Honestly, when you look back at Brooks' history, where he 'just happens' to reference ideas out of the 'dark, dank silos of the far right' I see less laziness, than an ongoing subtle injection of those very ideas into so-called 'respectable' conservative commentary. If it IS all happenstance and laziness, Brooks is the luckiest damned blind squirrel in the universe...

  3. Why Economic History?: Good theory is in the end nothing but distilled and crystallized economic history. It could, after all, be nothing else. And piling more and more computer power on to the analysis of nonhistorical data could only be an intellectual optimum if the world was created ex nihilo the instant of the first date of your panel. So this is why we are here. Welcome to economic history...

  4. Comment of the Day: Private-sector entities cannot migrate labor and capital into the business of creating money, for money is liquid trust and can only be created by institutions that are trusted to be, well, good for the money. So the solution is not to move resources out of creating currently-produced goods and services but to move demand into buying currently-produced goods and services. And—as long as it is good for the money—the government's borrowing-and-spending or printing-and-dropping works just fine: JEC: Keynesian Economics vs. Regular Economics: "The funny thing here is that Barro imagines this to be a killer rhetorical question, when it is in fact a crucial and open research question...

  5. What Will Cause the Next US Recession?: Live at Project Syndicate: Needless to say, the particular nature and form of the next financial shock will be unanticipated. Investors, speculators, and financial institutions are generally hedged against the foreseeable shocks.... The death blow to the global economy in 2008-2009 came not from global imbalances or from the collapse of the mid-2000s housing bubble, but from the concentration of ownership of mortgage-backed securities...

  6. Comment of the Day: Cervantes: "I didn't know that British produce comes into season at the end of March, actually. You learn something every day...

  7. Betting That Nobody Will Check the References as an Intellectual Style: Monday Smackdown: Never mind that Himmelfarb cuts off her quote from Keynes just before Keynes writes that he approves of this Puritan fallacy—that he is not, as Himmelfarb claims, ridiculing it, but rather praising it...


  1. Paul Campos: Tucker Carlson Utters More Than Fourteen Words Evincing Skepticism About Finance Capitalism: Conservative Pundits Blanch In Pure Horror: "white ethno-nationalism, which is what both Carlson and Trump actually market to their respective, heavily overlapping audiences, is likely to become even more successful if it manages to morph into a kind of welfare=state herrenvolk democracy, in which 'real Americans' receive genuine protection from the depredations of capitalism, while a permanently disenfranchised underclass of guest workers and the like gets to live in the libertarian utopia envisioned by the Koch brothers...

  2. Ben Alpers: A Far-Right Anti-Semitic Conspiracy Theory Becomes a Mainstream Irritable Gesture: "At the heart of this largely rote piece of Brooksian pablum is a claim that deserves a closer look. 'The younger militants', writes Brooks, 'tend to have been influenced by the cultural Marxism that is now the lingua franca in the elite academy'. This is interesting both for what Brooks appears to be trying to say and, more immediately, how he has decided to say it... #orangehairedbaboons #publicsphere

  3. Alexander Zubatov: "I think YOU'RE misusing Blackford.... Remember, the whole point of my Tablet article was to respond to Sam Moyn's utterly misleading NYT article claiming cultural Marxism simply doesn't exist and is no more than anti-Semitic right-wing phantasmagoria...

  4. Ben Alper: Fun With Primary Sources: The Free Congress Foundation's "History of Political Correctness": "The notion that the Frankfurt School was responsible for creating 'Political Correctness', 'Cultural Marxism', and a related plot against Western civilization itself emerged from the circle around Lyndon LaRouche from the 1970s (when LaRouche’s attacks on the Frankfurt Institute apparently began) through the early 1990s...

  5. Dave Niewertr: Norway Terrorist Breivik Was An Ardent Subscriber To Theories Of 'Cultural Marxism': "The picture that's emerging is of an ordinary right-wing man stoked into anger by theories about "Cultural Marxism" that originated on the anti-Semitic far right but have in recent years been spreading into more mainstream venues, promoted by the likes of Andrew Breitbart, among others...

  6. Ben Alpers: The Frankfurt School, Right-Wing Conspiracy Theories, and American Conservatism: "There are obviously a lot of threads that one might pull in this story, regarding, among other things, the relationship between mainstream conservatism and the violent radical right, the strong base of antisemitism that (often silently) underwrites a lot right-wing rhetoric, the deep anti-intellectual and anti-academic tendencies in these modes of thought, and the peculiar role that Lyndon LaRouche and his minions have played in encouraging conspiracy theories of all sorts (they are also an important source for left-wing conspiracy theories about Leo Strauss and the Straussians)...

  7. Samuel Moyn: The Alt-Right’s Favorite Meme Is 100 Years Old: "‘Cultural Marxism’ might sound postmodern but it’s got a long, toxic history...

  8. Russell Blackford: Cultural Marxism and our current culture wars: Part 1: "In everyday contexts, those of us who do not accept the narrative of a grand, semi-conspiratorial movement aimed at producing moral degeneracy should probably avoid using the term 'cultural Marxism'. Unfortunate cultural tendencies, including those that manifest a left-wing style of authoritarianism, can usually be labelled in less confusing, more effective, more precise ways. By all means, let’s develop useful terminology to express whatever concerns we have about tendencies on the Left, but 'cultural Marxism' carries too much baggage...

  9. Jana Winter and Elias Groll: Here’s the Memo That Blew Up the NSC: "Fired White House staffer [Rich Higgins] argued 'deep state' attacked Trump administration because the president represents a threat to cultural Marxist memes, globalists, and bankers...

  10. Jeet Heer: Let's Talk about Anti-Semitic Ideology: "Bowers... belonged to the far right faction that sees Trump as... claim[ing] to stand for white America but actually works for 'the Jews'.... The idea that George Soros (symbol for many on right of Jewish conspiracy) is behind Caravan isn't confined to Nazis.... Congressman Matt Gaetz... popular Trumpist cartoonist Ben Garrison... House GOP Leader Kevin McCarthy.... The Soros stuff is just one of many manifestations of the the grand anti-Semitic trope.... The Soros of right-wing mythology (globalist intent on destroy cohesive nations) fit the long history of blaming internal discord on outside agitators as well as the Dolchstoßlegende. The nationalist needs a cosmopolitan nemesis...

  11. Zack Beauchamp: A Trump Voter Hurt by the Shutdown’s Incredibly Revealing Quote: "Think about that line for a second. Roll it over in your head. In essence, Minton is declaring that one aim of the Trump administration is to hurt people—the right people. Making America great again, in her mind, involves inflicting pain. This is not an accident. Trump’s political victory and continuing appeal depend on a brand of politics that marginalizes and targets groups disliked by his supporters. Trump supporters don’t so much love the Republican party as they hate Democrats...

  12. Jeet Heer: Let's Talk about Anti-Semitic Ideology: "The idea that George Soros (symbol for many on right of Jewish conspiracy) is behind Caravan isn't confined to Nazis. Here's Congressman Matt Gaetz. Here is popular Trumpist cartoonist Ben Garrison—again, someone with an audience outside the Nazi right but circulating idea that Soros is working to destroy America. House GOP Leader Kevin McCarthy...

  13. Tamara Strauss: Blum Center News Digest, Jan. 7: "A selection of articles and reports pulled from the last two/three weeks...

  14. Raj Kumar: Facing Harsh Realities, the Global Development Community Confronts Another Fraught Year: "The outlines of an established global politics on aid are beginning to come into focus, and it’s a fraught landscape. Aid is now openly and directly discussed as a tool to stem migration, achieve foreign policy objectives, and derive domestic economic benefits, particularly for major donors including the U.S., China, Germany, and the U.K...

  15. Paul Krugman: The Economics of Soaking the Rich: "Diminishing marginal utility is the common-sense notion that an extra dollar is worth a lot less in satisfaction to people with very high incomes than to those with low incomes. Give a family with an annual income of $20,000 an extra $1,000 and it will make a big difference to their lives. Give a guy who makes $1 million an extra thousand and he’ll barely notice it. What this implies for economic policy is that we shouldn’t care what a policy does to the incomes of the very rich. A policy that makes the rich a bit poorer will affect only a handful of people, and will barely affect their life satisfaction, since they will still be able to buy whatever they want... #equitablegrowth #fiscalpolicy

  16. Steve Richards: Theresa May’s Survival Has Become Dependent on Denying Political Reality: "After the long cabinet meeting on the Brexit deal, the prime minister declared outside Number 10 that ministers had backed her plans. The next day the Brexit secretary, Dominic Raab, resigned. Mrs May appointed a successor as if the words she had uttered the night before had never been spoken.... She has, in the intervening weeks, insisted that there is space for a significant negotiation with the EU before the approaching Commons’ vote on her deal, expected within the next fortnight. The EU has made clear there is no room for such revision. The disconnect between the prime minister’s public words and what is happening around her is stark. Other prime ministers sought words to make sense of chaotic situations. Alternatively, they tried to change the situation. But Mrs May does neither. She presses on. But her indifference to words and persuasion, these essential arts of leadership, is a fatal flaw...

  17. Patrick Kline, Neviana Petkova, Heidi Williams, and Owen Zidar: Who Profits from Patents? Rent-Sharing at Innovative Firms: "An initial allowance of an ex-ante valuable patent generates substantial increases in firm productivity and worker compensation. By contrast, initial allowances of lower ex-ante value patents yield no detectable effects on firm outcomes.... On average, workers capture roughly 30 cents of every dollar of patent-induced surplus in higher earnings... concentrated among men and workers in the top half of the earnings distribution, and are paired with corresponding improvements in worker retention among these groups. We interpret these earnings responses as reflecting the capture of economic rents by senior workers, who are most costly for innovative firms to replace...

  18. David Weil (2014): The Fissured Workplace: "Large corporations have shed their role as direct employers of the people responsible for their products, in favor of outsourcing work to small companies that compete fiercely with one another...

  19. Jag Bhalla: Judea Pearl's 'The Book of Why' Shakes Up Correlation vs. Causality

  20. Uncle Judea, Melanin, Genetics, and Educational Attainment...: Am I profoundly stupid, or is Uncle Judea's framework of causal confounders—colliders—mediators a huge advance, perhaps not in helping those of you who think carefully do non-stupid statistics, but in helping those of us who do not think carefully do non-stupid statistics, and in providing a royal road to teaching people how to do not-stupid statistics...

  21. This point is absolutely cognitive science-statistics-philosophy of probability gold!: Judea Pearl, Madelyn Glymour, and Nicholas P. Jewell (2016): Causal Inference in Statistics: A Primer (New York: John Wiley & Sons: 978119186847): "Inquisitive students may wonder why it is that dependencies associated with conditioning on a collider are so surprising to most people—as in, for example, the Monty Hall example. The reason is that humans tend to associate dependence with causation...

  22. Lisa R. Goldberg: Review of The Book of Why: The New Science of Cause and Effect: "The graphical approach to causal inference that Pearl favors has been influential, but it is not the only approach.... The Neyman (or Neyman–Rubin) potential outcomes model... James Heckman, whose concept of 'fixing' resembles, superficially at least, the do operator that Pearl uses. Those who enjoy scholarly disputes may look to Andrew Gelman’s blog... or to the tributes written by Pearl and Heckman to the reclusive Nobel Laureate, Trygve Haavelmo, who pioneered causal inference in economics in 1940...

  23. Ride | Austin: Frequently Asked Question: "The previous rideshare companies spent millions of dollars then chose to abandon the 'factory' (drivers & riders) they built. We believed with the backing of the community-RideAustin could quickly harness this infrastructure-build the right solution and fill the void and provide a great, safe service.... The tech community contributed technology to power the app that costs millions to develop-but it also took over $7 million in cash donations and significant in-kind services donations to make RideAustin what it is today...

  24. Counterfactuals! There is currently a mishegas at Andrew Gelman's place about Pearl and Mackenzie's Book of Why, which has a reference to this and has led me to the conclusion that I really need to find time to work my way through this entire book: Cosma Shalizi: Advanced Data Analysis from an Elementary Point of View: "The distributions we observe in the world are the outcome of complicated stochastic processes. The mechanisms which set the value of one variable inter-lock with those which set other variables. When we make a probabilistic prediction by conditioning—whether we predict􏰁 E[Y|X=x] or Pr (Y|X=x) or something more complicated—we are just filtering the output of those mechanisms, picking out the cases where they happen to have set X to the value x, and looking at what goes along with that. When we make a causal prediction, we want to know what would happen if the usual mechanisms controlling X were suspended and it was set to x. How would this change propagate to the other variables? What distribution would result for Y? This is often, perhaps even usually, what people really want to know from a data analysis, and they settle for statistical prediction either because they think it is causal prediction, or for lack of a better alternative... #reasoning

  25. Yes, lots of conservative males feel unmanned because women can now get jobs and contraceptives and so are not (a) desperate to find a man to support them while (b) terrified of getting pregnant. The best answer would be teaching young males that while their grandfathers and male their fathers could be real dicks without it ruining their lives, that is no longer tru: Josh Barro: "I think a big problem with the 'economic and social change undermined marriage and family for the working class' frame is that a main way it did this is by making women less dependent on men...

  26. Jane Coaston: Tucker Carlson Has Sparked The Most Interesting Debate In Conservative Politics: "Carlson... greed that his monologue was reminiscent of Warren, referencing her 2003 book The Two-Income Trap: Why Middle-Class Parents Are Growing Broke.... Carlson wanted to be clear: He’s just asking questions.... In this telling, white working-class Americans who once relied on a manufacturing economy that doesn’t look the way it did in 1955 are the unwilling pawns of elites. It’s not their fault that, in Carlson’s view, marriage is inaccessible to them.... Someone, or something, did this to them.... Carlson is advancing a form of victim-politics populism that takes a series of tectonic cultural changes—civil rights, women’s rights, a technological revolution as significant as the industrial revolution, the mass-scale loss of religious faith, the sexual revolution, etc.—and turns the negative or challenging aspects of those changes into an angry tale of what they are doing to you. And that was my biggest question about Carlson’s monologue, and the flurry of responses to it, and support for it: When other groups (say, black Americans) have pointed to systemic inequities within the economic system that have resulted in poverty and family dysfunction, the response from many on the right has been, shall we say, less than enthusiastic. Yet white working-class poverty receives, from Carlson and others, far more sympathy...


Fairly Recently: Must- and Should-Reads, and Writings... (January 4, 2019)

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  1. What Is Going on This Morning Over at "National Review"? Is It Worth Reading? No.: I read 10 articles, and graded each ops 0-to-10 scale. Total score (out of 100); -45. Beam me up, Scotty. There is no intelligent life there at all...

  1. Lindsay Ellis: Death of the Author #movies

  2. Andrew Gaudion: Ranking Every Training Montage in the ‘Rocky’ Franchise

  3. Bruce Springsteen: Tougher Than the Rest #music

  4. Bruce Springsteen: Brilliant Disguise #music

  5. I now think the right dates for the "long" 20th Century are: May 10, 1869-November 8, 2016: Frederick Studemann: The New Year Could Mark the Beginning of a New(ish) Century: "There are those, such as the economic historian Brad DeLong, who wonder whether Hobsbawn may have short-changed the 20th century. Can a case can be made, they ask, for the 20th century to run from 1870, when the wider impact of the industrial revolution became clear, political economics became central and liberal democracy took hold, to just after the global financial crisis?...

  6. Noah Smith: China's Economic Growth at Risk From Reversing Reforms - Bloomberg: "There already are some signs that the country is making mistakes that will hobble economic growth.... By many measures, China is the world’s largest economy. This means a number of benefits will now flow—and indeed are already flowing—to China that used to go to the U.S. and Europe. Chief among these is agglomeration.... But... it might easily make mistakes that would prevent the country from leveraging that size for maximum economic benefit. Chief among these self-inflicted wounds would be closing the country to foreign investment, extending state control of the economy and adopting an adversarial relationship with neighboring nations. Ominously, the country seems to doing all of these now, to one extent on another... #economicgrowth

  7. Richa Gupta and Umang Aggarwal: Is there a “Late Converger Stall” in Economic Development? Can India Escape it?: "A major driver of these good times is 'economic convergence', whereby poorer countries have grown faster than richer countries and closed the gap in standards of living. The convergence process has been broadening and accelerating for the last 20-30 years.... [But] the possibility of... a 'Late Converger Stall'... #economicgrowth #economichistory #globalization

  8. Liz Bruenig: Falwell’s entire view of Christianity and politics... I suspect... stems from a mistaken reading of Augustine, the fourth-century African saint who wrote 'The City of God'... #moralphilosophy

  9. Francis Crick (1967): To James Watson

  10. Guinness: noitulovE

  11. Kate Riga: GOP Senator Calls For End Of Shutdown Without Deal On Trump’s Border Wall: "Sen. Cory Gardner (R-CO).... 'I think we should pass a continuing resolution to get the government back open. The Senate has done it last Congress, we should do it again today', Gardner said.... Gardner is up for reelection in 2020 in a purple state...

  12. Yes, it was a mistake for the Federal Reserve to raise interest rates last month: Chris Matthews: Dow Tumbles 650 points as Apple News, Manufacturing Data Spark Fears of Global Slowdown: ".S. stock indexes closed sharply lower Thursday, after a survey of American manufacturers showed the sector growing at its slowest pace in two years, and after a sales forecast cut by Apple Inc AAPL, -9.96% intensified fears of a slowing Chinese economy. The Dow Jones Industrial Average DJIA, -2.83% fell 661.58 points, or 2.8%, to 22,684.66, the S&P 500 index SPX, -2.48% , shed 62.18 points, or 2.5%, to 2,447.87, while the Nasdaq Composite COMP, -3.04% tumbled 202.43 points, or 3%, to 6,463.50...

  13. Maybe now that Trump has embraced lowering corporate profits as a policy goal, Mike Pence will be willing to invoke Amendment 25: Josh Barro: China Is Losing Trump’s Trade War—and So Are We: "This is the insanity of the president’s trade war policy: it’s negative-sum.... Trump’s own economic adviser is going on television and saying his policy is going to reduce corporate profits. I wrote a couple of weeks ago about the strange disconnect between financial markets and economic data.... Well, as Bloomberg put it in a headline this morning, 'Bad Stuff the Stock Market Worried About Is Starting to Happen'.... The economy is weakening, and market participants know it, but the weakened performance has not yet shown up in lagging economic data...


REMIND YOURSELF: Representation

Keep this near the top of working memory...

  • 180.8 million people are represented by the 49 senators who caucus with the Democrats.
  • 141.7 million people are represented by the 52 51 senators who caucus with the Republicans.
  • 65.9 million people voted for Hillary Rodham Clinton and Tim Kaine to be their president and vice president
  • 63.0 million people voted for Donald Trump and Mike Pence to be their president and vice president.

Continue reading "REMIND YOURSELF: Representation" »