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The rate of return on everything - Marginal REVOLUTION
Here is what I learned from the paper itself:

1. Risky assets such as equities and residential real estate average about 7% gains per year in real terms.  Housing outperformed equity before WWII, vice versa after WWII.  In any case it is a puzzle that housing returns are less volatile but about at the same level as equity returns over a broader time span.
2. Equity and housing gains have a relatively low covariance.  Buy both!
3. Equity returns across countries have become increasingly correlated, housing returns not.
4. The return on real safe assets is much more volatile than you might think.
5. The equity premium is volatile too.
6. The authors find support for Piketty’s r > g, except near periods of war.  Furthermore, the gap between r and g does not seem to be correlated with the growth rate of the economy.

I found this to be one of the best and most interesting papers of the year.
econotariat  marginal-rev  commentary  study  summary  economics  macro  investing  ORFE  securities  data  street-fighting  objektbuch  scale  time-preference  cost-benefit  outcome-risk  housing  money  monetary-fiscal  debt  history  mostly-modern  world-war  trends  correlation  moments  growth-econ  inequality  piketty  stylized-facts  war  meta:war 
4 weeks ago by nhaliday
Books 2017 | West Hunter
Arabian Sands
The Aryans
The Big Show
The Camel and the Wheel
Civil War on Western Waters
Company Commander
Double-edged Secrets
The Forgotten Soldier
Genes in Conflict
Hive Mind
The horse, the wheel, and language
The Penguin Atlas of Medieval History
Habitable Planets for Man
The genetical theory of natural selection
The Rise of the Greeks
To Lose a Battle
The Jewish War
Tropical Gangsters
The Forgotten Revolution
Egil’s Saga
Shapers
Time Patrol

Russo: https://westhunt.wordpress.com/2017/12/14/books-2017/#comment-98568
west-hunter  scitariat  books  recommendations  list  top-n  confluence  2017  info-foraging  canon  🔬  ideas  s:*  history  mostly-modern  world-war  britain  old-anglo  travel  MENA  frontier  reflection  europe  gallic  war  sapiens  antiquity  archaeology  technology  divergence  the-great-west-whale  transportation  nature  long-short-run  intel  tradecraft  japan  asia  usa  spearhead  garett-jones  hive-mind  economics  broad-econ  giants  fisher  space  iron-age  medieval  the-classics  civilization  judaism  conquest-empire  africa  developing-world  institutions  science  industrial-revolution  the-trenches  wild-ideas  innovation  speedometer  nordic  mediterranean  speculation  fiction  scifi-fantasy  time  encyclopedic  multi  poast  critique  cost-benefit  tradeoffs 
5 weeks ago by nhaliday
Education and Political Participation: Exploring the Causal Link | SpringerLink
To test for a causal effect of education, we exploit the rise in education levels among males induced by the Vietnam draft. We find little reliable evidence that education induced by the draft significantly increases participation rates.
study  politics  polisci  education  human-capital  correlation  confounding  endogenous-exogenous  natural-experiment  null-result  military  war  history  mostly-modern  cold-war  asia  developing-world  sociology  phalanges  stylized-facts 
5 weeks ago by nhaliday
The Power of Abortion Policy - Marginal REVOLUTION
I provide new evidence on the relative “powers” of contraception and abortion policy in effecting the dramatic social transformations of the 1960s and 1970s. Trends in sexual behavior suggest that young women’s increased access to the birth control pill fueled the sexual revolution, but neither these trends nor difference-in-difference estimates support the view that this also led to substantial changes in family formation. Rather, the estimates robustly suggest that it was liberalized access to abortion that allowed large numbers of women to delay marriage and motherhood.
econotariat  marginal-rev  commentary  study  summary  economics  policy  intervention  sociology  gender  sex  fertility  demographics  demographic-transition  history  mostly-modern  cold-war  rot  roots  explanans  technology  microfoundations  nitty-gritty  sexuality  modernity  the-bones  general-survey  endogenous-exogenous  control  life-history  social-norms  medicine 
6 weeks ago by nhaliday
Sources on Technical History | Salo Forum - Chic Nihilism
This is a thread where people can chip in and list some good sources for the history of technology and mechanisms (hopefully with illustrations), books on infrastructure or industrial geography, or survey books in engineering. This is a thread that remains focused on the "technical" and not historical side.

Now, on the history of technology alone if I comprehensively listed every book, paper, etc., I've read on the subject since childhood then this thread would run well over 100 pages (seriously). I'll try to compress it by dealing with entire authors, journals, and publishers even.

First, a note on preliminaries: the best single-volume primer on the physics, internal components and subsystems of military weapons (including radar, submarines) is Craig Payne's Principles of Naval Weapons Systems. Make sure to get the second edition, the first edition is useless.
gnon  🐸  chan  poast  links  reading  technology  dirty-hands  the-world-is-just-atoms  military  defense  letters  discussion  list  books  recommendations  confluence  arms  war  heavy-industry  mostly-modern  world-war  history  encyclopedic  meta:war 
7 weeks ago by nhaliday
Emergency Medical Treatment and Active Labor Act - Wikipedia
The Emergency Medical Treatment and Active Labor Act (EMTALA)[1] is an act of the United States Congress, passed in 1986 as part of the Consolidated Omnibus Budget Reconciliation Act (COBRA). It requires hospital Emergency Departments that accept payments from Medicare to provide an appropriate medical screening examination (MSE) to anyone seeking treatment for a medical condition, regardless of citizenship, legal status, or ability to pay. Participating hospitals may not transfer or discharge patients needing emergency treatment except with the informed consent or stabilization of the patient or when their condition requires transfer to a hospital better equipped to administer the treatment.[1]

EMTALA applies to "participating hospitals." The statute defines participating hospitals as those that accept payment from the Department of Health and Human Services, Centers for Medicare and Medicaid Services (CMS) under the Medicare program.[2] "Because there are very few hospitals that do not accept Medicare, the law applies to nearly all hospitals."[3] The combined payments of Medicare and Medicaid, $602 billion in 2004,[4] or roughly 44% of all medical expenditures in the U.S., make not participating in EMTALA impractical for nearly all hospitals. EMTALA's provisions apply to all patients, not just to Medicare patients.[5][6]

The cost of emergency care required by EMTALA is not directly covered by the federal government. Because of this, the law has been criticized by some as an unfunded mandate.[7] Uncompensated care represents 6% of total hospital costs.[8]
usa  government  policy  law  history  mostly-modern  cold-war  wiki  rot  healthcare  redistribution  welfare-state 
7 weeks ago by nhaliday
[1509.02504] Electric charge in hyperbolic motion: The early history and other geometrical aspects
We revisit the early work of Minkowski and Sommerfeld concerning hyperbolic motion, and we describe some geometrical aspects of the electrodynamic interaction. We discuss the advantages of a time symmetric formulation in which the material points are replaced by infinitesimal length elements.

SPACE AND TIME: An annotated, illustrated edition of Hermann Minkowski's revolutionary essay: http://web.mit.edu/redingtn/www/netadv/SP20130311.html
nibble  preprint  papers  org:mat  physics  electromag  relativity  exposition  history  mostly-modern  pre-ww2  science  the-trenches  discovery  intricacy  classic  explanation  einstein  giants  plots  manifolds  article  multi  liner-notes  org:junk  org:edu  absolute-relative 
8 weeks ago by nhaliday
Austria-Hungary | West Hunter
Diversity is our strength? I’m Hungarian, and I can tell you one thing: in the case of Austria-Hungary, diversity was a weakness.

It was much different from the modern US & Western Europe, where it is indeed a strength. At least, that’s what politicians and cultural Marxist intellectuals over there are saying, and I’m sure I can trust them, because if you can’t trust politicians and cultural Marxist intellectuals, who can you trust at all?
--
It’s a hodgepodge of languages, like “mi” is “we” in Hungarian (and if you say “a mi erőnk”, it’d mean “our strength”, so I guess it stands for “our” here), or “Stärke” is “strength” in German. The first word is some Slavic language, could be Czech or Slovakian.
--
Resilient until a serious war came around with a mass conscripted army. It did better in the 18th century with small professional armies. It’d do better again in the 21st century, with the return of the small professional armies.
west-hunter  scitariat  discussion  troll  europe  eastern-europe  diversity  putnam-like  conquest-empire  aphorism  lol  history  mostly-modern  pre-ww2  world-war  cohesion  early-modern  cost-benefit  war  military  context  germanic  meta:war  defense 
9 weeks ago by nhaliday
Politics with Hidden Bases: Unearthing the Deep Roots of Party Systems
The research presented here uses a novel method to show that contemporary party systems may originate much further back than is usually assumed or might be expected—in reality many centuries. Using data on Ireland, a country with a political system that poses significant challenges to the universality of many political science theories, by identifying the ancestry of current party elites we find ethnic bases for the Irish party system arising from population movements that took place from the 12th century. Extensive Irish genealogical knowledge allows us to use surnames as a proxy for ethnic origin. Recent genetic analyses of Irish surnames corroborate Irish genealogical information. The results are particularly compelling given that Ireland is an extremely homogeneous society and therefore provides a tough case for our approach.
pdf  study  broad-econ  polisci  sociology  politics  government  correlation  path-dependence  cliometrics  anglo  britain  history  mostly-modern  time-series  pro-rata  distribution  demographics  coalitions  pop-structure  branches 
9 weeks ago by nhaliday
Climate Risk, Cooperation, and the Co-Evolution of Culture and Institutions∗
We test this hypothesis for Europe combining high-resolution climate data for the period 1500-2000 with survey data at the sub-national level. We find that regions with higher inter-annual variability in precipitation and temperature display higher levels of trust. This effect is driven by variability in the growing season months, and by historical rather than recent variability. Regarding possible mechanisms, we show that regions with more variable climate were more closely connected to the Medieval trade network, indicating a higher propensity to engage in inter-community exchange. We also find that these regions were more likely to adopt participatory political institutions earlier on, and are characterized by a higher quality of local governments still today. Our results suggest that, by favoring the emergence of mutually-reinforcing norms and institutions, exposure to environmental risk had a long-lasting impact on human cooperation.
pdf  study  broad-econ  economics  cliometrics  path-dependence  growth-econ  political-econ  institutions  government  social-norms  culture  cultural-dynamics  correlation  history  early-modern  mostly-modern  values  poll  trust  n-factor  cooperate-defect  cohesion  democracy  environment  europe  the-great-west-whale  geography  trade  network-structure  general-survey  outcome-risk  uncertainty  branches  microfoundations 
10 weeks ago by nhaliday

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