nhaliday + business   408

Links 3/19: Linkguini | Slate Star Codex
How did the descendants of the Mayan Indians end up in the Eastern Orthodox Church?

Does Parental Quality Matter? Study using three sources of parental variation that are mostly immune to genetic confounding find that “the strong parent-child correlation in education is largely causal”. For example, “the parent-child correlation in education is stronger with the parent that spends more time with the child”.

Before and after pictures of tech leaders like Jeff Bezos, Elon Musk, and Sergey Brin suggest they’re taking supplemental testosterone. And though it may help them keep looking young, Palladium points out that there might be other effects from having some of our most powerful businessmen on a hormone that increases risk-taking and ambition. They ask whether the new availability of testosterone supplements is prolonging Silicon Valley businessmen’s “brash entrepreneur” phase well past the point where they would normally become mature respectable elders. But it also hints at an almost opposite take: average testosterone levels have been falling for decades, so at this point these businessmen would be the only “normal” (by 1950s standards) men out there, and everyone else would be unprecedently risk-averse and boring. Paging Peter Thiel and everyone else who takes about how things “just worked better” in Eisenhower’s day.

China’s SesameCredit social monitoring system, widely portrayed as dystopian, has an 80% approval rate in China (vs. 19% neutral and 1% disapproval). The researchers admit that although all data is confidential and they are not affiliated with the Chinese government, their participants might not believe that confidently enough to answer honestly.

I know how much you guys love attacking EAs for “pathological altruism” or whatever terms you’re using nowadays, so here’s an article where rationalist community member John Beshir describes his experience getting malaria on purpose to help researchers test a vaccine.

Some evidence against the theory that missing fathers cause earlier menarche.

John Nerst of EverythingStudies’ political compass.
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6 weeks ago by nhaliday
Bragging Rights: Does Corporate Boasting Imply Value Creation? by Pratik Kothari, Don M. Chance, Stephen P. Ferris :: SSRN
We examine all S&P 500 firms over 1999-2014 that publicly characterize their annual performance with extreme positive language. We find that only 18% of such firms increase shareholder value, while nearly 75% have insignificant performance, and the remaining 7% actually destroy shareholder value. Our evidence suggests that firms often base their positive claims on high raw returns or strong relative accounting performance. In comparison to firms that generate positive abnormal returns without boasting, our sample firms tend to have superior accounting performance. These results show that boasting about performance is rarely associated with value creation and is consistent with executive narcissism.
study  economics  business  management  stylized-facts  trivia  leadership  finance  investing  objektbuch  correlation  language  emotion 
april 2018 by nhaliday
What Peter Thiel thinks about AI risk - Less Wrong
TL;DR: he thinks its an issue but also feels AGI is very distant and hence less worried about it than Musk.

I recommend the rest of the lecture as well, it's a good summary of "Zero to One"  and a good QA afterwards.

For context, in case anyone doesn't realize: Thiel has been MIRI's top donor throughout its history.

other stuff:
nice interview question: "thing you know is true that not everyone agrees on?"
"learning from failure overrated"
cleantech a huge market, hard to compete
software makes for easy monopolies (zero marginal costs, network effects, etc.)
for most of history inventors did not benefit much (continuous competition)
ethical behavior is a luxury of monopoly
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february 2018 by nhaliday
The Western Elite from a Chinese Perspective - American Affairs Journal
I don’t claim to be a modern-day Alexis de Tocqueville, nor do I have much in common with this famous observer of American life. He grew up in Paris, a city renowned for its culture and architecture. I grew up in Shijiazhuang, a city renowned for being the headquarters of the company that produced toxic infant formula. He was a child of aristocrats; I am the child of modest workers.

Nevertheless, I hope my candid observations can provide some insights into the elite institutions of the West. Certain beliefs are as ubiquitous among the people I went to school with as smog was in Shijiazhuang. The doctrines that shape the worldviews and cultural assumptions at elite Western institutions like Cambridge, Stanford, and Goldman Sachs have become almost religious. Nevertheless, I hope that the perspective of a candid Chinese atheist can be of some instruction to them.

...

So I came to the UK in 2001, when I was 16 years old. Much to my surprise, I found the UK’s exam-focused educational system very similar to the one in China. What is more, in both countries, going to the “right schools” and getting the “right job” are seen as very important by a large group of eager parents. As a result, scoring well on exams and doing well in school interviews—or even the play session for the nursery or pre-prep school—become the most important things in the world. Even at the university level, the undergraduate degree from the University of Cambridge depends on nothing else but an exam at the end of the last year.

On the other hand, although the UK’s university system is considered superior to China’s, with a population that is only one-twentieth the size of my native country, competition, while tough, is less intimidating. For example, about one in ten applicants gets into Oxbridge in the UK, and Stanford and Harvard accept about one in twenty-five applicants. But in Hebei province in China, where I am from, only one in fifteen hundred applicants gets into Peking or Qinghua University.

Still, I found it hard to believe how much easier everything became. I scored first nationwide in the GCSE (high school) math exam, and my photo was printed in a national newspaper. I was admitted into Trinity College, University of Cambridge, once the home of Sir Isaac Newton, Francis Bacon, and Prince Charles.

I studied economics at Cambridge, a field which has become more and more mathematical since the 1970s. The goal is always to use a mathematical model to find a closed-form solution to a real-world problem. Looking back, I’m not sure why my professors were so focused on these models. I have since found that the mistake of blindly relying on models is quite widespread in both trading and investing—often with disastrous results, such as the infamous collapse of the hedge fund Long-Term Capital Management. Years later, I discovered the teaching of Warren Buffett: it is better to be approximately right than precisely wrong. But our professors taught us to think of the real world as a math problem.

The culture of Cambridge followed the dogmas of the classroom: a fervent adherence to rules and models established by tradition. For example, at Cambridge, students are forbidden to walk on grass. This right is reserved for professors only. The only exception is for those who achieve first class honors in exams; they are allowed to walk on one area of grass on one day of the year.

The behavior of my British classmates demonstrated an even greater herd mentality than what is often mocked in American MBAs. For example, out of the thirteen economists in my year at Trinity, twelve would go on to join investment banks, and five of us went to work for Goldman Sachs.

...

To me, Costco represents the best of American capitalism. It is a corporation known for having its customers and employees in mind, while at the same time it has compensated its shareholders handsomely over the years. To the customers, it offers the best combination of quality and low cost. Whenever it manages to reduce costs, it passes the savings on to customers immediately. Achieving a 10 percent gross margin with prices below Amazon’s is truly incredible. After I had been there once, I found it hard to shop elsewhere.

Meanwhile, its salaries are much higher than similar retail jobs. When the recession hit in 2008, the company increased salaries to help employees cope with the difficult environment. From the name tags the staff wear, I have seen that frontline employees work there for decades, something hard to imagine elsewhere.

Stanford was for me a distant second to Costco in terms of the American capitalist experience. Overall, I enjoyed the curriculum at the GSB. Inevitably I found some classes less interesting, but the professors all seemed to be quite understanding, even when they saw me reading my kindle during class.

One class was about strategy. It focused on how corporate mottos and logos could inspire employees. Many of the students had worked for nonprofits or health care or tech companies, all of which had mottos about changing the world, saving lives, saving the planet, etc. The professor seemed to like these mottos. I told him that at Goldman our motto was “be long-term greedy.” The professor couldn’t understand this motto or why it was inspiring. I explained to him that everyone else in the market was short-term greedy and, as a result, we took all their money. Since traders like money, this was inspiring. He asked if perhaps there was another motto or logo that my other classmates might connect with. I told him about the black swan I kept on my desk as a reminder that low probability events happen with high frequency. He didn’t like that motto either and decided to call on another student, who had worked at Pfizer. Their motto was “all people deserve to live healthy lives.” The professor thought this was much better. I didn’t understand how it would motivate employees, but this was exactly why I had come to Stanford: to learn the key lessons of interpersonal communication and leadership.

On the communication and leadership front, I came to the GSB knowing I was not good and hoped to get better. My favorite class was called “Interpersonal Dynamics” or, as students referred to it, “Touchy Feely.” In “Touchy Feely,” students get very candid feedback on how their words and actions affect others in a small group that meets several hours per week for a whole quarter.

We talked about microaggressions and feelings and empathy and listening. Sometimes in class the professor would say things to me like “Puzhong, when Mary said that, I could see you were really feeling something,” or “Puzhong, I could see in your eyes that Peter’s story affected you.” And I would tell them I didn’t feel anything. I was quite confused.

One of the papers we studied mentioned that subjects are often not conscious of their own feelings when fully immersed in a situation. But body indicators such as heart rate would show whether the person is experiencing strong emotions. I thought that I generally didn’t have a lot of emotions and decided that this might be a good way for me to discover my hidden emotions that the professor kept asking about.

So I bought a heart rate monitor and checked my resting heart rate. Right around 78. And when the professor said to me in class “Puzhong, I can see that story brought up some emotions in you,” I rolled up my sleeve and checked my heart rate. It was about 77. And so I said, “nope, no emotion.” The experiment seemed to confirm my prior belief: my heart rate hardly moved, even when I was criticized, though it did jump when I became excited or laughed.

This didn’t land well on some of my classmates. They felt I was not treating these matters with the seriousness that they deserved. The professor was very angry. My takeaway was that my interpersonal skills were so bad that I could easily offend people unintentionally, so I concluded that after graduation I should do something that involved as little human interaction as possible.

Therefore, I decided I needed to return to work in financial markets rather than attempting something else. I went to the career service office and told them that my primary goal after the MBA was to make money. I told them that $500,000 sounded like a good number. They were very confused, though, as they said their goal was to help me find my passion and my calling. I told them that my calling was to make money for my family. They were trying to be helpful, but in my case, their advice didn’t turn out to be very helpful.

Eventually I was able to meet the chief financial officer of my favorite company, Costco. He told me that they don’t hire any MBAs. Everyone starts by pushing trolleys. (I have seriously thought about doing just that. But my wife is strongly against it.) Maybe, I thought, that is why the company is so successful—no MBAs!

...

Warren Buffett has said that the moment one was born in the United States or another Western country, that person has essentially won a lottery. If someone is born a U.S. citizen, he or she enjoys a huge advantage in almost every aspect of life, including expected wealth, education, health care, environment, safety, etc., when compared to someone born in developing countries. For someone foreign to “purchase” these privileges, the price tag at the moment is $1 million dollars (the rough value of the EB-5 investment visa). Even at this price level, the demand from certain countries routinely exceeds the annual allocated quota, resulting in long waiting times. In that sense, American citizens were born millionaires!

Yet one wonders how long such luck will last. This brings me back to the title of Rubin’s book, his “uncertain world.” In such a world, the vast majority things are outside our control, determined by God or luck. After we have given our best and once the final card is drawn, we should neither become too excited by what we have achieved nor too depressed by what we failed to … [more]
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january 2018 by nhaliday
What era are our intuitions about elites and business adapted to? – Gene Expression
Above natural states are open-access orders, which characterize societies that have market economies and competitive politics. Here access to the elite is open to anyone who can prove themselves worthy — it is not artificially restricted in order to preserve large rents for the incumbents. The pie can be made bigger with more people at the top, since you only get to the top in such societies by making and selling things that people want. Elite members compete against each other based on the quality and price of the goods and services they sell — it’s a mercantile elite — rather than based on who is better at violence than the others. If the elites are flabby, upstarts can readily form their own organizations — as opposed to not having the freedom to do so — that, if better, will dethrone the incumbents. Since violence is no longer part of elite competition, homicide rates are the lowest of all types of societies.

OK, now let’s take a look at just two innate views that most people have about how the business world works or what economic elites are like, and see how these are adaptations to natural states rather than to the very new open-access orders (which have only existed in Western Europe since about 1850 or so). One is the conviction, common even among many businessmen, that market share matters more than making profits — that being more popular trumps being more profitable. The other is most people’s mistrust of companies that dominate their entire industry, like Microsoft in computers.
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december 2017 by nhaliday
Dollar General Hits a Gold Mine in Rural America - Bloomberg
“It reminds me of a craps table,” Brown, the commercial real estate analyst, says. “Essentially what the dollar stores are betting on in a large way is that we are going to have a permanent underclass in America. It’s based on the concept that the jobs went away, and the jobs are never coming back, and that things aren’t going to get better in any of these places.”

HOW DOLLAR GENERAL BECAME RURAL AMERICA’S STORE OF CHOICE: https://www.wsj.com/articles/how-dollar-general-became-rural-americas-store-of-choice-1512401992

The Supply Chain In Lieu Of The Welfare State: https://gnxp.nofe.me/2017/12/04/the-supply-chain-in-lieu-of-the-welfare-state/

http://marginalrevolution.com/marginalrevolution/2018/01/u-s-fact-day-2.html
“Over the last five years a new Dollar General opened every four-and-a-half hours…”

That is from The Economist. The article attributes much of the success of the chain to its location decisions, such as opening near churches, schools, highways, and post offices.
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october 2017 by nhaliday
The Political Typology: Beyond Red vs. Blue | Pew Research Center
The new typology has eight groups: Three are strongly ideological, highly politically engaged and overwhelmingly partisan – two on the right and one on the left. Steadfast Conservatives are staunch critics of government and the social safety net and are very socially conservative. Business Conservatives share Steadfast Conservatives’ preference for limited government, but differ in their support for Wall Street and business, as well as immigration reform. And Business Conservatives are far more moderate on social issues than are Steadfast Conservatives.

At the other end of the spectrum, Solid Liberals express liberal attitudes across almost every realm – government, the economy and business and foreign policy, as well as on race, homosexuality and abortion – and are reliable and loyal Democratic voters.

Taken together, these three groups form the electoral base of the Democratic and Republican Parties, and their influence on American politics is strong. While Solid Liberals, Steadfast Conservatives and Business Conservatives collectively make up only 36% of the American public, they represent 43% of registered voters and fully 57% of the more politically engaged segment of the American public: those who regularly vote and routinely follow government and public affairs.

The other typology groups are less partisan, less predictable and have little in common with each other or the groups at either end of the political spectrum. The one thing they do share is that they are less engaged politically than the groups on the right or left.

Young Outsiders lean Republican but do not have a strong allegiance to the Republican Party; in fact they tend to dislike both political parties. On many issues, from their support for environmental regulation to their liberal views on social issues, they diverge from traditional GOP orthodoxy. Yet in their support for limited government, Young Outsiders are firmly in the Republicans’ camp.

Hard-Pressed Skeptics have been battered by the struggling economy, and their difficult financial circumstances have left them resentful of both government and business. Despite their criticism of government performance, they back more generous government support for the poor and needy. Most Hard-Pressed Skeptics say they voted for Obama in 2012, though fewer than half approve of his job performance today.

The Next Generation Left are young, relatively affluent and very liberal on social issues like same-sex marriage and abortion. But they have reservations about the cost of social programs. And while most of the Next Generation Left support affirmative action, they decisively reject the idea that racial discrimination is the main reason why many blacks are unable to get ahead.

The Faith and Family Left lean Democratic, based on their confidence in government and support for federal programs to address the nation’s problems. But this very religious, racially and ethnically diverse group is uncomfortable with the pace of societal change, including the acceptance of homosexuality and non-traditional family structures.

And finally, an eighth group, the Bystanders, representing 10% of the public, are on the sidelines of the political process. They are not registered to vote and pay very little attention to politics.

...

The Faith and Family Left is by far the most racially and ethnically diverse group in the typology: In fact, just 41% are white non-Hispanic; 30% are black, 19% are Hispanic and 8% are other or mixed race. The Faith and Family Left also is less affluent and less educated than the other Democratically-oriented groups, and is older as well.

They also have strong religious convictions, which distinguishes them from Solid Liberals and the Next Generation Left. Fully 91% say “it is necessary to believe in God in order to be moral and have good values.” No more than about one-in-ten in the other Democratically-oriented groups agree. And the Faith and Family Left have much more conservative positions on social issues. Just 37% favor same-sex marriage, less than half the share of the other two groups on the left.

The Faith and Family Left support activist government and a strong social safety net, though by less overwhelming margins than Solid Liberals. And while the Faith and Family Left support affirmative action programs, just 31% believe that “racial discrimination is the main reason many black people can’t get ahead these days.” Among the much less racially diverse Solid Liberals, 80% think racial discrimination is the main barrier to black progress.

...

First, Steadfast Conservatives take very conservative views on key social issues like homosexuality and immigration, while Business Conservatives are less conservative – if not actually progressive – on these issues. Nearly three-quarters of Steadfast Conservatives (74%) believe that homosexuality should be discouraged by society. Among Business Conservatives, just 31% think homosexuality should be discouraged; 58% believe it should be accepted.

Business Conservatives have generally positive attitudes toward immigrants and 72% favor a “path to citizenship” for those in the U.S. illegally, if they meet certain conditions. Steadfast Conservatives are more critical of immigrants; 50% support a path to citizenship, the lowest share of any typology group.

Second, just as Steadfast Conservatives are opposed to big government, they also are skeptical of big business. They believe that large corporations have too much power, and nearly half (48%) say the economic system unfairly favors powerful interests. By contrast, as their name suggests, Business Conservatives are far more positive about the free market, and overwhelmingly regard business – and Wall Street – positively.

group profiles (including demographics): http://www.people-press.org/2014/06/26/appendix-1-typology-group-profiles/

2017 redux:
Political Typology Reveals Deep Fissures on the Right and Left: http://www.people-press.org/2017/10/24/political-typology-reveals-deep-fissures-on-the-right-and-left/
Nearly a year after Donald Trump was elected president, the Republican coalition is deeply divided on such major issues as immigration, America’s role in the world and the fundamental fairness of the U.S. economic system.

The Democratic coalition is largely united in staunch opposition to President Trump. Yet, while Trump’s election has triggered a wave of political activism within the party’s sizable liberal bloc, the liberals’ sky-high political energy is not nearly as evident among other segments in the Democratic base. And Democrats also are internally divided over U.S. global involvement, as well as some religious and social issues.

...

Divisions on the right

The political typology finds two distinctly different groups on the right – Core Conservatives and Country First Conservatives, who both overwhelmingly approve of Trump, but disagree on much else – including immigration and whether it benefits the U.S. to be active internationally.

Core Conservatives, who are in many ways the most traditional group of Republicans, have an outsized influence on the GOP coalition; while they make up just 13% of the public – and about a third (31%) of all Republicans and Republican-leaning independents – they constitute a much larger share (43%) of politically engaged Republicans.

This financially comfortable, male-dominated group overwhelmingly supports smaller government, lower corporate tax rates and believes in the fairness of the nation’s economic system. And a large majority of Core Conservatives (68%) express a positive view of U.S. involvement in the global economy “because it provides the U.S. with new markets and opportunities for growth.”

Country First Conservatives, a much smaller segment of the GOP base, are older and less educated than other Republican-leaning typology groups. Unlike Core Conservatives, Country First Conservatives are unhappy with the nation’s course, highly critical of immigrants and deeply wary of U.S. global involvement.

Nearly two-thirds of Country First Conservatives (64%) – the highest share of any typology group, right or left – say that “if America is too open to people from all over the world, we risk losing our identity as a nation.”

A third Republican group, Market Skeptic Republicans, sharply diverges from the GOP’s traditional support for business and lower taxes. Only about a third of Market Skeptic Republicans (34%) say banks and other financial institutions have a positive effect on the way things are going in the country, lowest among Republican-leaning typology groups.

Alone among the groups in the GOP coalition, a majority of Market Skeptic Republicans support raising tax rates on corporations and large businesses. An overwhelming share (94%) say the economic system unfairly favors powerful interests, which places the view of Market Skeptic Republicans on this issue much closer to Solid Liberals (99% mostly unfair) than Core Conservatives (21%).

In contrast to Market Skeptic Republicans, New Era Enterprisers are fundamentally optimistic about the state of the nation and its future. They are more likely than any other typology group to say the next generation of Americans will have it better than people today. Younger and somewhat less overwhelmingly white than the other GOP-leaning groups, New Era Enterprisers are strongly pro-business and generally think that immigrants strengthen, rather than burden, the country.

Divisions on the left

...

While there have long been racial, ethnic and income differences within the Democratic coalition, these gaps are especially striking today. Reflecting the changing demographic composition of the Democratic base, for the first time there are two majority-minority Democratic-leaning typology groups, along with two more affluent, mostly white groups.

Solid Liberals are the largest group in the Democratic coalition, and they make up close to half (48%) of politically engaged Democrats and Democratic-leaning … [more]
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october 2017 by nhaliday
Individualistic values, institutional trust, and interventionist attitudes | Journal of Institutional Economics | Cambridge Core
A popular explanation for economic development is that ‘individualistic values’ provide a mind-set that is favorable to the creation of growth-promoting institutions. The present paper investigates the relationship between individualistic values and personal attitudes toward government intervention. We consider two key components of an individualistic culture to be particularly relevant for attitude formation: self-direction (‘social’ individualism) and self-determination (‘economic’ individualism). Results indicate that both are negatively associated with interventionist attitudes. Effects of self-direction are much weaker though, than self-determination. Moreover, the effects of self-direction are mitigated through higher trust in the state and lower confidence in companies, while that is not the case for self-determination values. We conclude that especially economic individualism supports attitudes conducive to the formation of formal market-friendly institutions.
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september 2017 by nhaliday
Here Be Sermons | Melting Asphalt
The Costly Coordination Mechanism of Common Knowledge: https://www.lesserwrong.com/posts/9QxnfMYccz9QRgZ5z/the-costly-coordination-mechanism-of-common-knowledge
- Dictatorships all through history have attempted to suppress freedom of the press and freedom of speech. Why is this? Are they just very sensitive? On the other side, the leaders of the Enlightenment fought for freedom of speech, and would not budge an inch against this principle.
- When two people are on a date and want to sleep with each other, the conversation will often move towards but never explicitly discuss having sex. The two may discuss going back to the place of one of theirs, with a different explicit reason discussed (e.g. "to have a drink"), even if both want to have sex.
- Throughout history, communities have had religious rituals that look very similar. Everyone in the village has to join in. There are repetitive songs, repetitive lectures on the same holy books, chanting together. Why, of all the possible community events (e.g. dinner, parties, etc) is this the most common type?
What these three things have in common, is common knowledge - or at least, the attempt to create it.

...

Common knowledge is often much easier to build in small groups - in the example about getting off the bus, the two need only to look at each other, share a nod, and common knowledge is achieved. Building common knowledge between hundreds or thousands of people is significantly harder, and the fact that religion has such a significant ability to do so is why it has historically had so much connection to politics.
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september 2017 by nhaliday
Patrick McKenzie on Twitter: "It occurs to me that my hobby in writing letters about the Fair Credit Reporting Act is suddenly topical! So some quick opinionated advice:"
identity theft and credit monitoring guide (inspired by Equifax)

https://www.upguard.com/breaches/credit-crunch-national-credit-federation
https://twitter.com/WAWilsonIV/status/937086175969386496
I really think the only solution to this is Congress or the courts acting to create serious civil liability for data breaches:
Another way this would be good: companies having to count your personal information as a serious potential cost as well as a potential asset will make it rational for them to invade your privacy less.
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september 2017 by nhaliday
Beijing’s uneasy deals with overseas car groups under strain
The new EV joint ventures are part of a Chinese effort to master the technology for electric vehicles — and rely on a tried and tested model of working with the global car industry since the 1980s. In a nutshell, joint ventures are the only way for foreign groups to access the world’s largest and most lucrative market. China gives the overseas companies the right to sell cars in exchange for their technology, management expertise and a share of their profits. 

“China’s central planners said ‘how can we basically force global automakers to participate and bring their very best electric vehicle technology to China?’” says Michael Dunne, president of Dunne Automotive, a Hong Kong-based car consultancy. 

Since 1984, starting with Jeeps, foreign carmakers have been allowed to produce cars in China — but only in concert with a local partner holding at least 50 per cent of the venture. In practice, this is almost always one of six anointed state companies. 

While widely criticised as a trade barrier, the JV law managed to survive China’s entry into the World Trade Organisation in 2001 — testament to Beijing’s bargaining power. Now China is using an updated version of the JV law to once again dangle access to its car market in exchange for technology — this time for new electric vehicles. 

The results of the three-decade-old policy have been mixed. Rather than transforming Chinese car companies into technology giants, the joint venture companies have arguably made Chinese carmakers complacent, according to Chinese policymakers. He Guangyang, a former minister of industry, controversially described the JVs as “like opium” in an interview five years ago.

...

This has created fears that their proprietary technology could be stolen. Over the past two decades, foreign makers of everything from high-speed trains to fighter planes have licensed the technology to local Chinese partners only to find a few years later that their partner is a major international competitor. 

In order to keep this from happening, foreign carmakers are trying to give away as little as possible — and keep sensitive items, such as software codes, outside of China. In the past, foreign companies have managed to evade similar requirements simply by bringing in outdated technology, which has angered Chinese policymakers. 

...

Weeks later Miao Wei, minister of industry and information technology, told a press conference that the notion foreign companies would have to transfer technology to Chinese companies was a “misunderstanding”. 
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september 2017 by nhaliday
Does Polarization Imply Poor Representation? A New Perspective on the “Disconnect” Between Politicians and Voters*
Broockman-Ahler 2015

immigration positions under B.2: http://www.dougahler.com/uploads/2/4/6/9/24697799/ahler_broockman_ideological_innocence.pdf#page=42
distribution: http://www.dougahler.com/uploads/2/4/6/9/24697799/ahler_broockman_ideological_innocence.pdf#page=53

https://twitter.com/tcjfs/status/904024125030756356
https://archive.is/BrnpJ
38% support immediate mass deportation of all illegals (Broockman 2015). This view has zero representation in either house of congress.

Do you understand the GOP play here by the way? I'm genuinely puzzled. Is it a moral conviction? Because it can't be a vote play.
In my view it's a mix of mindless sentimentality, the donor class, and existing in an hermetically sealed ideological bubble.

https://twitter.com/tcjfs/status/951989543653265408
https://archive.is/ya2sz
cheap labor lobby, public choice (votes), & subversive elites gripped by multiculti zealotry

https://twitter.com/tcjfs/status/911291455762845696
https://archive.is/dw6OO
In a 2014 radio interview, Paul Ryan was asked if "immigrants from the 3rd world are more or less likely to support conservative policies":
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september 2017 by nhaliday
The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade
Adjustment in local labor markets is remarkably slow, with wages and labor-force participation rates remaining depressed and unemployment rates remaining elevated for at least a full decade after the China trade shock commences. Exposed workers experience greater job churning and reduced lifetime income. At the national level, employment has fallen in the US industries more exposed to import competition, as expected, but offsetting employment gains in other industries have yet to materialize.

Slicing the Pie: Quantifying the Aggregate and Distributional Effects of Trade: http://www.nber.org/papers/w23737
We find that the China shock increases average welfare but some groups experience losses as high as five times the average gain. Adjusted for plausible measures of inequality aversion, gains in social welfare are positive and only slightly lower than with the standard aggregation.

The Surprisingly Swift Decline of US Manufacturing Employment: https://www.aeaweb.org/articles?id=10.1257/aer.20131578
- Justin R. Pierce, Peter K. Schott
This paper links the sharp drop in US manufacturing employment after 2000 to a change in US trade policy that eliminated potential tariff increases on Chinese imports. Industries more exposed to the change experience greater employment loss, increased imports from China, and higher entry by US importers and foreign-owned Chinese exporters. At the plant level, shifts toward less labor-intensive production and exposure to the policy via input-output linkages also contribute to the decline in employment. Results are robust to other potential explanations of employment loss, and there is no similar reaction in the European Union, where policy did not change.

China-Like Wages Now Part Of U.S. Employment Boom: https://www.forbes.com/sites/kenrapoza/2017/08/04/china-like-wages-now-part-of-u-s-employment-boom/

U.S. Companies Were Hurt by Trade With China Too: https://www.bloomberg.com/view/articles/2016-12-12/u-s-companies-were-hurt-by-trade-with-china-too
David Autor and David Dorn are two human wrecking balls smashing the edifice of economics consensus. For decades, the one big thing economists could agree on was that free trade, on balance, was good for the U.S. economy. Now, in a series of papers with a variety of co-authors, Autor and Dorn have shown that the dramatic increase in U.S. trade with China in the 2000s was a different and far more destructive beast -- a phenomenon commonly called the China Shock.

The first of these papers showed that the China Shock left deep and lasting scars on huge swathes of the American workforce. The second demonstrated that the China Shock increased political polarization. Now, together with Gordon Hanson, Pian Shu, and Gary Pisano, the wrecking-ball duo have a third paper, showing that the China Shock decreased U.S. corporate innovation.

Importing Political Polarization?: The Electoral Consequences of Rising Trade Exposure: http://economics.mit.edu/files/11499
Trade-exposed districts with an initial majority white population or initially in Republican hands became substantially more likely to elect a conservative Republican, while trade-exposed districts with an initial majority-minority population or initially in Democratic hands became more likely to elect a liberal Democrat.

The China Shock was Matched by a China Boom: http://marginalrevolution.com/marginalrevolution/2018/01/china-shock-matched-china-boom.html
Our results fit the textbook story that job opportunities in exports make up for jobs lost in import-competing industries, or nearly so. Once we consider the export side, the negative employment effect of trade is much smaller than is implied in the previous literature. Although our analysis finds net job losses in the manufacturing sector for the US, there are remarkable job gains in services, suggesting that international trade has an impact on the labour market according to comparative advantage. The US has comparative advantages in services, so that overall trade led to higher employment through the increased demand for service jobs.
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august 2017 by nhaliday
Is the economy illegible? | askblog
In the model of the economy as a GDP factory, the most fundamental equation is the production function, Y = f(K,L).

This says that total output (Y) is determined by the total amount of capital (K) and the total amount of labor (L).

Let me stipulate that the economy is legible to the extent that this model can be applied usefully to explain economic developments. I want to point out that the economy, while never as legible as economists might have thought, is rapidly becoming less legible.
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august 2017 by nhaliday
Trust in Large Organizations
We argue that trust should be particularly important for the performance of large organizations. In a cross-section of countries, evidence on government performance, participation in civic and professional societies, importance of large firms, and the performance of social institutions more generally supports this hypothesis. Moreover, trust is lower in countries with dominant hierarchical religions, which may have deterred networks of cooperation trust hold up remarkably well on a cross-section of countries.

The Importance of Trust for Investment: Evidence from Venture Capital: http://www.nber.org/papers/w16923
We examine the effect of trust on financial investment and contracting decisions in a micro-economic environment where trust is exogenous. Using hand-collected data on European venture capital, we show that the Eurobarometer measure of trust among nations significantly affects investment decisions. This holds even after controlling for investor and company fixed effects, geographic distance, information and transaction costs. The national identity of venture capital firms' individual partners further contributes to the effect of trust. Education and work experience reduce the effect of trust but do not eliminate it. We also examine the relationship between trust and sophisticated contracts involving contingent control rights and find that, even after controlling for endogeneity, they are complements, not substitutes.

Breach of Trust in Hostile Takeovers: http://www.nber.org/papers/w2342
The paper questions the common view that share price increases of firms involved in hostile takeovers measure efficiency gains from acquisitions. Even if such gains exist, most of the increase in the combined value of the target and the acquirer is likely to come from stakeholder wealth losses, such as declines in value of subcontractors' firm-specific capital or employees' human capital. The use of event studies to gauge wealth creation in takeovers is unjustified. The paper also suggests a theory of managerial behavior, in which hiring and entrenching trustworthy managers enables shareholders to commit to upholding implicit contracts with stakeholders. Hostile takeovers are an innovation allowing shareholders to renege on such contracts ex post, against managers' will. On this view, shareholder gains are redistributions from stakeholders, and can in the long run result in deterioration of trust necessary for the functioning of the corporation.

Trust in Public Finance: http://www.nber.org/papers/w9187
Using data on trust and trustworthiness from the 1990 wave of the World Values Survey, I first investigate a model of the extent of tax cheating and the size of government that recognizes the interdependence of the two. The results reveal that tax cheating is lower in countries that exhibit more (not-government-related) trustworthiness. However, holding that constant, tax cheating becomes more acceptable as government grows. All in all, there is some weak evidence that the strong positive cross-country correlation between the size of government and tax cheating masks the fact that big government induces tax cheating while, at the same time, tax cheating constrains big government. I then add to the structural model an equation determining the level of prosperity, allowing prosperity to depend, inter alia, on the level of government and on trust in others. I find some evidence that both prosperity and government involvement are higher in more trusting societies. Moreover, holding these measures of trust constant, the association of government size with prosperity is positive until a level of government spending somewhere between 31% and 38% of GDP, after which its marginal effect is negative. Thus, although a trusting citizenry allows larger government, the tax burden this entails erodes the rule obedience taxpayers exhibit toward government.

Tax cheating among whites: http://anepigone.blogspot.com/2017/04/tax-cheating-among-whites.html
The masses still more or less assume that “against the law” is a synonym for “wrong.” It is known that the criminal law is harsh and full of anomalies and that litigation is so expensive as always to favour the rich against the poor: but there is a general feeling that the law, such as it is, will be scrupulously administered … An Englishman does not believe in his bones, as a Spanish or Italian peasant does, that the law is simply a racket.

The English People, Collins, 1947

WEIRDO societies require WEIRDOs to make them work. The less WEIRDO a society becomes, the more being a WEIRDO--characterized by high social trust, reciprocity, political compromise, generosity to those in need, isonomy, etc--switches from being an advantage to being a disadvantage. Social trust declines, reciprocity disappears, political compromise is replaced by a winner-take-all ethnic spoils system, generosity is exploited to the point that it is seen as an entitlement, and the legal system gets hijacked by racial grievance concepts like "social justice". It's a vicious circle.

http://www.presidency.ucsb.edu/ws/index.php?pid=29544
Theodore Roosevelt
Third Annual Message
December 7, 1903

The consistent policy of the National Government, so far as it has the power, is to hold in check the unscrupulous man, whether employer or employee; but to refuse to weaken individual initiative or to hamper or cramp the industrial development of the country. We recognize that this is an era of federation and combination, in which great capitalistic corporations and labor unions have become factors of tremendous importance in all industrial centers. Hearty recognition is given the far-reaching, beneficent work which has been accomplished through both corporations and unions, and the line as between different corporations, as between different unions, is drawn as it is between different individuals; that is, it is drawn on conduct, the effort being to treat both organized capital and organized labor alike; asking nothing save that the interest of each shall be brought into harmony with the interest of the general public, and that the conduct of each shall conform to the fundamental rules of obedience to law, of individual freedom, and of justice and fair dealing towards all. Whenever either corporation, labor union, or individual disregards the law or acts in a spirit of arbitrary and tyrannous interference with the rights of others, whether corporations or individuals, then where the Federal Government has jurisdiction, it will see to it that the misconduct is stopped, paying not the slightest heed to the position or power of the corporation, the union or the individual, but only to one vital fact--that is, the question whether or not the conduct of the individual or aggregate of individuals is in accordance with the law of the land. Every man must be guaranteed his liberty and his right to do as he likes with his property or his labor, so long as he does not infringe the rights of others. _No man is above the law and no man is below it; nor do we ask any man's permission when we require him to obey it. Obedience to the law is demanded as a right; not asked as a favor._
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august 2017 by nhaliday
Is the U.S. Aggregate Production Function Cobb-Douglas? New Estimates of the Elasticity of Substitution∗
world-wide: http://www.socsci.uci.edu/~duffy/papers/jeg2.pdf
https://www.weforum.org/agenda/2016/01/is-the-us-labour-share-as-constant-as-we-thought
https://www.economicdynamics.org/meetpapers/2015/paper_844.pdf
We find that IPP capital entirely explains the observed decline of the US labor share, which otherwise is secularly constant over the past 65 years for structures and equipment capital. The labor share decline simply reflects the fact that the US economy is undergoing a transition toward a larger IPP sector.
https://ideas.repec.org/p/red/sed015/844.html
http://www.robertdkirkby.com/blog/2015/summary-of-piketty-i/
https://www.brookings.edu/bpea-articles/deciphering-the-fall-and-rise-in-the-net-capital-share/
The Fall of the Labor Share and the Rise of Superstar Firms: http://www.nber.org/papers/w23396
The Decline of the U.S. Labor Share: https://www.brookings.edu/wp-content/uploads/2016/07/2013b_elsby_labor_share.pdf
Table 2 has industry disaggregation
Estimating the U.S. labor share: https://www.bls.gov/opub/mlr/2017/article/estimating-the-us-labor-share.htm

Why Workers Are Losing to Capitalists: https://www.bloomberg.com/view/articles/2017-09-20/why-workers-are-losing-to-capitalists
Automation and offshoring may be conspiring to reduce labor's share of income.
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july 2017 by nhaliday
Does Management Matter? Evidence from India
We have shown that management matters, with improvements in management practices improving plant-level outcomes. One response from economists might then be to argue that poor management can at most be a short-run problem, since in the long run better managed firms should take over the market. Yet many of our firms have been in business for 20 years and more.

One reason why better run firms do not dominate the market is constraints on growth derived from limited managerial span of control. In every firm in our sample only members of the owning family have positions with major decision-making power over finance, purchasing, operations or employment. Non-family members are given only lower-level managerial positions with authority only over basic day-to-day activities. The principal reason is that family members do not trust non-family members. For example, they are concerned if they let their plant managers procure yarn they may do so at inflated rates from friends and receive kick-backs.

A key reason for this inability to decentralize is the poor rule of law in India. Even if directors found managers stealing, their ability to successfully prosecute them and recover the assets is minimal because of the inefficiency of Indian civil courts. A compounding reason for the inability to decentralize in Indian firms is bad management practices, as this means the owners cannot keep good track of materials and finance, so may not even able to identify mismanagement or theft within their firms.30

As a result of this inability to delegate, firms can expand beyond the size that can be managed by a single director only if other family members are available to share directorial duties. Thus, an important predictor of firm size was the number of male family members of the owners. In particular, the number of brothers and sons of the leading director has a correlation of 0.689 with the total employment of the firm, compared to a correlation between employment and the average management score of 0.223. In fact the best managed firm in our sample had only one (large) production plant, in large part because the owner had no brothers or sons to help run a larger organization. This matches the ideas of the Lucas (1978) span of control model, that there are diminishing returns to how much additional productivity better management technology can generate from a single manager. In the Lucas model, the limits to firm growth restrict the ability of highly productive firms to drive lower productivity ones from the market. In our Indian firms, this span of control restriction is definitely binding, so unproductive firms are able to survive because more productive firms cannot expand.

https://twitter.com/pseudoerasmus/status/885915088951095296

http://marginalrevolution.com/marginalrevolution/2017/03/india-much-entrepreneurial-society-united-states-thats-problem.html
However, when we reverse the employment statistic–only ~15% of Indians work for a firm compared to approximately 90% of US workers we see the problem. Entrepreneurship in India isn’t a choice, it’s a requirement. Indian entrepreneurship is a consequence of India’s failed economy. As a I wrote in my Cato paper with Goldschlag, less developed countries in general, not just India, have more entrepreneurs.

...

The modal size of an Indian firm is 1 employee and the mean is just over 2. The mean number of employees in a US firm is closer to 20 but even though that is ten times the Indian number it obscures the real difference. The US has many small firms but what makes it different is that it also has large firms that employ lots of people. In fact, over half of all US workers are employed by the tiny minority (0.3%) of firms with over 500 employees.

blames colonialism, idk, might have contributed

Dishonesty and Selection into Public Service: Evidence from India: https://www.aeaweb.org/articles?id=10.1257/pol.20150029
Students in India who cheat on a simple laboratory task are more likely to prefer public sector jobs. This paper shows that cheating on this task predicts corrupt behavior by civil servants, implying that it is a meaningful predictor of future corruption. Students who demonstrate pro-social preferences are less likely to prefer government jobs, while outcomes on an explicit game and attitudinal measures to measure corruption do not systematically predict job preferences. _A screening process that chooses high-ability applicants would not alter the average propensity for corruption._ The findings imply that differential selection into government may contribute, in part, to corruption.

Where Does the Good Shepherd Go? Civic Virtue and Sorting into Public Sector Employment: http://repec.business.uzh.ch/RePEc/iso/leadinghouse/0134_lhwpaper.pdf
Our study extends the understanding of the motivational basis of public sector employment by considering civic virtue in addition to altruism and risk aversion and by investigating selection and socialization. Using a largely representative, longitudinal data set of employees in Germany including 63,101 observations of 13,673 different individuals, we find that civic virtue relates positively to public sector employment beyond altruism and risk aversion. We find evidence on selection and no evidence on socialization as an explanation for this result.

http://www.economist.com/news/books-and-arts/21716019-penchant-criminality-electoral-asset-india-worlds-biggest
Sadly, this is not a book about some small, shady corner of Indian politics: 34% of the members of parliament (MPs) in the Lok Sabha (lower house) have criminal charges filed against them; and the figure is rising (see chart). Some of the raps are peccadillos, such as rioting or unlawful assembly—par for the course in India’s raucous local politics. But over a fifth of MPs are in the dock for serious crimes, often facing reams of charges for anything from theft to intimidation and worse. (Because the Indian judicial system has a backlog of 31m cases, even serious crimes can take a decade or more to try, so few politicians have been convicted.) One can walk just about the whole way from Mumbai to Kolkata without stepping foot outside a constituency whose MP isn’t facing a charge.

...

What is more surprising is that the supply of willing criminals-cum-politicians was met with eager demand from voters. Over the past three general elections, a candidate with a rap sheet of serious charges has had an 18% chance of winning his or her race, compared with 6% for a “clean” rival. Mr Vaishnav dispels the conventional wisdom that crooks win because they can get voters to focus on caste or some other sectarian allegiance, thus overlooking their criminality. If anything, the more serious the charge, the bigger the electoral boost, as politicians well know.

As so often happens in India, poverty plays a part. India is almost unique in having adopted universal suffrage while it was still very poor. The upshot has been that underdeveloped institutions fail to deliver what citizens vote for. Getting the state to perform its most basic functions—building a school, disbursing a subsidy, repaving a road—is a job that can require banging a few heads together. Sometimes literally. Who better to represent needy constituents in these tricky situations than someone who “knows how to get things done”? If the system doesn’t work for you, a thuggish MP can be a powerful ally.

http://www.bbc.com/news/magazine-36446652
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july 2017 by nhaliday
China ponders public morality after video of gruesome death - ABC News
Even as China presents itself outwardly as a prosperous rising power, around kitchen tables and in private WeChat groups, Chinese citizens routinely grumble about a nation that's gone bankrupt when it comes to two qualities: "suzhi," or "personal character," and "dixian," literally "bottom line" — or a basic, inviolable sense of right and wrong.

https://www.reddit.com/r/news/comments/6gjoht/china_ponders_public_morality_after_video_of/
The only term that can really be used for China is No good deed goes unpunished. From someone who's of Chinese ethnic but not a Chinese national who has lived in the mainlands for the last 10 years.

The stories about extortionists are real, and they happen all over China. I'm genuinely terrified to help say an elderly who slipped on the pavement, or got nicked by a passing moped because I have no idea whether the victim will point at me and claim I caused the incident and demand payment from me. Police are useless and more often than not will ask the wrongly accused to make a small payment to the "victim" and be on their way, a little money to save time arguing with the extortionist. This has happened so much people are now taking videos of them helping anyone, in case their good deed goes sour.

A news story from about 2 weeks back, a man knew a friend was a bit unhappy/feeling down and invited said friend to his home to talk about this, to cheer her up. When he had his back towards the friend while getting some fruits, she jumped out the balcony and died. The family sued the man for 300k, and the court upheld their lawsuit but toned it down to 80k, saying the man is 20% responsible for her death, claiming he knows the friend was unhappy and should have kept a closer eye on her. Trying to help a friend, and that's what you get for not being to help, imagine why people don't want to help anymore.

http://www.bbc.com/news/business-40351409
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july 2017 by nhaliday
Caste system in India - Wikipedia
A recent series of research papers, by Reich et al. (2009), Metspalu et al. (2011), and Moorjani et al. (2013), make clear that India was peopled by two distinct groups who split genetically ca. 50,000 years ago,[81][82] which they called "Ancestral North Indians" (ANI) and "Ancestral South Indians" (ASI) respectively.[note 1] They found that the ANI genes are close to those of Middle Easterners, Central Asians and Europeans whereas the ASI genes are dissimilar to all other known populations outside India.[note 2][note 3] These two distinct groups, which had split ca. 50,000 years ago, formed the basis for the present population of India.[83]

According to Moorjani et al. these two groups mixed between 4,200 and 1,900 years ago (2200 BCE-100 CE), whereafter a shift to endogamy took place.[84] David Reich stated, "Prior to 4,200 years ago, there were unmixed groups in India. Sometime between 1,900 to 4,200 years ago, profound, pervasive convulsive mixture occurred, affecting every Indo-European and Dravidian group in India without exception.".[85] Following this mixture,

Strong endogamy must have applied since then (average gene flow less than 1 in 30 per generation) to prevent the genetic signatures of founder events from being erased by gene flow. Some historians have argued that "caste" in modern India is an "invention" of colonialism in the sense that it became more rigid under colonial rule. However, our results suggest that many current distinctions among groups are ancient and that strong endogamy must have shaped marriage patterns in India for thousands of years.[81]

Moorjani et al. discerned two waves of admixture in this period, with northern India showing later dates of admixture.[86] GaneshPrasad et al. (2013) studied "12 tribal and 19 non-tribal (caste) endogamous populations from the predominantly Dravidian-speaking Tamil Nadu state in the southernmost part of India." According to this study, southern India was already socially stratified 4,000 to 6,000 years ago, which is best explained by "the emergence of agricultural technology in South Asia." The study concludes that "The social stratification (in Tamil Nadu) was established 4,000 to 6,000 years ago and there was little admixture during the last 3,000 years, implying a minimal genetic impact of the Varna (caste) system from the historically-documented Brahmin migrations into the area."[87]

https://en.wikipedia.org/wiki/Wikipedia:Genetic_research_on_the_origins_of_India%27s_population

http://www.nytimes.com/2010/09/11/world/asia/11caste.html
A crucial factor is the collapse of the caste system over the last half century, a factor that undergirds many of the other reasons that the south has prospered — more stable governments, better infrastructure and a geographic position that gives it closer connections to the global economy.

“The breakdown of caste hierarchy has broken the traditional links between caste and profession, and released enormous entrepreneurial energies in the south,” said Ashutosh Varshney, a professor at Brown University who has studied the role of caste in southern India’s development. This breakdown, he said, goes a long way to explaining “why the south has taken such a lead over the north in the last three decades.”

http://www.livemint.com/Opinion/FLn6TiQPArdQZUN9LE2ZsM/The-impact-of-caste-on-economic-mobility-in-India.html
Caste Is Stunting All of India’s Children: http://foreignpolicy.com/2017/09/15/caste-is-stunting-all-of-indias-children/
Fears of impurity continue to steer Indians away from toilets — and towards deadly fecal germs.

https://twitter.com/MWStory/status/895580461879107584
https://archive.is/AsTwB
These Indian govt funded ads to encourage the wealthy but declining Parsi population to reproduce are quite extraordinary

http://marginalrevolution.com/marginalrevolution/2017/12/india-marriage-markets-everything.html
India’s government has expanded a scheme offering payment incentives to Hindus who marry members of the country’s poorest and most oppressed caste, the Dalits.
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june 2017 by nhaliday
Yale Law Journal - Amazon's Antitrust Paradox
This Note argues that the current framework in antitrust—specifically its pegging competition to “consumer welfare,” defined as short-term price effects—is unequipped to capture the architecture of market power in the modern economy. We cannot cognize the potential harms to competition posed by Amazon’s dominance if we measure competition primarily through price and output. Specifically, current doctrine underappreciates the risk of predatory pricing and how integration across distinct business lines may prove anticompetitive. These concerns are heightened in the context of online platforms for two reasons. First, the economics of platform markets create incentives for a company to pursue growth over profits, a strategy that investors have rewarded. Under these conditions, predatory pricing becomes highly rational—even as existing doctrine treats it as irrational and therefore implausible. Second, because online platforms serve as critical intermediaries, integrating across business lines positions these platforms to control the essential infrastructure on which their rivals depend. This dual role also enables a platform to exploit information collected on companies using its services to undermine them as competitors.

https://www.theatlantic.com/business/archive/2017/06/why-amazon-bought-whole-foods/530652/
https://gnxp.nofe.me/2017/06/17/the-distribution-channel-comes-to-you/
https://www.forbes.com/sites/panosmourdoukoutas/2017/06/18/amazon-whole-foods-deal-is-bad-news-for-store-cashiers-and-the-fight-for-15-minimum-wage/
Amazon Must Be Stopped: https://newrepublic.com/article/119769/amazons-monopoly-must-be-broken-radical-plan-tech-giant

Amazon Will Go To Denver: https://gnxp.nofe.me/2017/09/10/amazon-will-go-to-denver/
https://www.nytimes.com/interactive/2017/09/09/upshot/where-should-amazon-new-headquarters-be.html
http://www.paddypower.com/bet?action=go_event&category=SPECIALS&ev_class_id=45&ev_type_id=22711&ev_id=13023353&force_racing_css=&ev_desc=Where%20will%20Amazon%20build%20their%20Second%20Headquarters?
https://www.seattletimes.com/business/amazon/this-city-hall-brought-to-you-by-amazon/
Real things cities are offering to get Amazon HQ2
*Chicago: Let Amazon keep employees' income tax
*SoCal: Give away $100M in land
*Boston: City employees working just for Amazon
*Fresno: Let Amazon decide how to spend tax dollars

https://www.wsj.com/articles/rules-of-engagement-how-cities-are-courting-amazons-new-headquarters-1522661401
Washington, D.C., might have a leg up, having already hosted Amazon Chief Executive Jeff Bezos for visits when he considered acquiring the Washington Post, which he now owns. Mr. Bezos also purchased the former Textile Museum in Washington’s Kalorama neighborhood for $23 million in 2016 and is currently turning it into a private residence.

28-year-old makes millions buying from Walmart, selling on Amazon: https://www.msn.com/en-us/money/companies/28-year-old-makes-millions-buying-from-walmart-selling-on-amazon/ar-AAupB8i

https://twitter.com/DKThomp/status/954028684788273153
https://twitter.com/hyperplanes/status/954020562262781952
https://archive.is/uNk1p
https://archive.is/phiTA
Thread: Why Amazon’s HQ2 is going to Fairfax County

https://www.bloomberg.com/view/articles/2018-01-19/amazon-is-sure-acting-like-it-s-going-to-pick-the-d-c-area

https://twitter.com/NeonPeonage/status/955436146183561216
https://archive.is/lJeaz
walmart is the only entity that has even a slim chance at preventing jeff bezos from intermediating every commodity exchange in the world, u must respect

https://twitter.com/holerepairer/status/955469951833436160
https://archive.is/ig58T
"I tried to save you, but you didn't listen. Now you'll have to face Him alone..."

What Amazon does to wages: https://www.economist.com/news/united-states/21735020-worlds-largest-retailer-underpaying-its-employees-what-amazon-does-wages
Is the world’s largest retailer underpaying its employees?

Flat or falling industry wages are common in the cities and towns where Amazon opens distribution centres, according to an analysis by The Economist. Government figures show that after Amazon opens a storage depot, local wages for warehouse workers fall by an average of 3%. In places where Amazon operates, such workers earn about 10% less than similar workers employed elsewhere.

What Amazon Does to Poor Cities: https://www.theatlantic.com/business/archive/2018/02/amazon-warehouses-poor-cities/552020/
The debate over Amazon’s HQ2 obscures the company’s rapid expansion of warehouses in low-income areas.

The Facts Behind Trump’s Tweets on Amazon, Taxes and the Postal Service: https://www.nytimes.com/2018/03/29/us/politics/trump-amazon-post-office-fact-check.html

If Workers Slack Off, the Wristband Will Know. (And Amazon Has a Patent for It.): https://www.nytimes.com/2018/02/01/technology/amazon-wristband-tracking-privacy.html
https://www.npr.org/sections/thetwo-way/2018/02/01/582370715/wrist-watching-amazon-patents-system-to-track-guide-employees-hands
https://boingboing.net/2018/02/02/amazon-patent-could-lead-to-do.html
https://www.jwz.org/blog/2018/02/amazon-patents-wristbands-shock-collars-designed-to-steer-employees-movements/

auto-management -> automation dystopia: http://marshallbrain.com/manna.htm

Amazon’s vision for the future: delivery drone beehives in every city: https://www.theverge.com/2017/6/23/15860668/amazon-drone-delivery-patent-city-centers
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june 2017 by nhaliday
Is America Encouraging the Wrong Kind of Entrepreneurship?
Of Baumol’s many contributions to economics, the most famous is cost disease, which explains why high-productivity industries raise costs and therefore prices in low-productivity industries. The insight is particularly relevant now, as economic activity has shifted into low-productivity services like health care and education, where price increases are devouring public and household budgets, and whose continued low productivity has weighed down U.S. productivity growth overall.

But there’s a lesser-known idea of Baumol’s that is equally relevant today and that may help explain America’s productivity slump. Baumol’s writing raises the possibility that U.S. productivity is low because would-be entrepreneurs are focused on the wrong kind of work.
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june 2017 by nhaliday
Companies by revenue per employee - Marginal REVOLUTION
We found that Energy companies have the highest average Revenue per Employee, while Industrials and Consumer Discretionaries perform worst on this metric.

Technology companies performed at the lower end of the range on Revenue per Employee; part of the reason for this however, is other companies in spaces like Energy and Healthcare have large non-employee costs that Technology companies do not have.
econotariat  marginal-rev  commentary  brands  economics  business  industrial-org  data  cost-benefit  money  pro-rata  labor  tech  winner-take-all 
june 2017 by nhaliday
Double world GDP | Open Borders: The Case
Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?: https://www.aeaweb.org/articles?id=10.1257/jep.25.3.83
https://openborders.info/innovation-case/
https://www.economist.com/news/world-if/21724907-yes-it-would-be-disruptive-potential-gains-are-so-vast-objectors-could-be-bribed
The Openness-Equality Trade-Off in Global Redistribution: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2509305
https://www.wsj.com/articles/opening-our-borders-would-overwhelm-america-1492366053
Immigration, Justice, and Prosperity: http://quillette.com/2017/07/29/immigration-justice-prosperity/

Some Countries Are Much Richer Than Others. Is That Unjust?: http://quillette.com/2017/07/23/countries-much-richer-others-unjust/
But we shouldn’t automatically assume that wealth disparities across the world are unjust and that the developed world owes aid as a matter of justice. This is because the best way to make sense of the Great Divergence is that certain economic and political institutions, namely those that facilitated economic growth, arose in some countries and not others. Thus perhaps the benevolent among us should also try to encourage – by example rather than force – the development of such institutions in places where they do not exist.

An Argument Against Open Borders and Liberal Hubris: http://quillette.com/2017/08/27/argument-open-borders-liberal-hubris/
We do not have open borders but we are experiencing unprecedented demographic change. What progressives should remember is that civilisation is not a science laboratory. The consequences of failed experiments endure. That is the main virtue of gradual change; we can test new waters and not leap into their depths.

A Radical Solution to Global Income Inequality: Make the U.S. More Like Qatar: https://newrepublic.com/article/120179/how-reduce-global-income-inequality-open-immigration-policies

Why nation-states are good: https://aeon.co/essays/capitalists-need-the-nation-state-more-than-it-needs-them
The nation-state remains the best foundation for capitalism, and hyper-globalisation risks destroying it
- Dani Rodrik
Given the non-uniqueness of practices and institutions enabling capitalism, it’s not surprising that nation-states also resolve key social trade-offs differently. The world does not agree on how to balance equality against opportunity, economic security against innovation, health and environmental risks against technological innovation, stability against dynamism, economic outcomes against social and cultural values, and many other consequences of institutional choice. Developing nations have different institutional requirements than rich nations. There are, in short, strong arguments against global institutional harmonisation.
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june 2017 by nhaliday
Skin or Skim? Inside Investment and Hedge Fund Performance by Arpit Gupta, Kunal Sachdeva :: SSRN
We find that funds with greater investment by insiders outperform funds with less "skin in the game" on a factor-adjusted basis; exhibit greater return persistence; and feature lower fund flow-performance sensitivities.
study  economics  finance  ORFE  investing  paying-rent  business  industrial-org 
june 2017 by nhaliday
Living with Inequality - Reason.com
That's why I propose the creation of the Tenth Commandment Club. The tenth commandment—"You shall not covet"—is a foundation of social peace. The Nobel Laureate economist Vernon Smith noted the tenth commandment along with the eighth (you shall not steal) in his Nobel toast, saying that they "provide the property right foundations for markets, and warned that petty distributional jealousy must not be allowed to destroy" those foundations. If academics, pundits, and columnists would avowedly reject covetousness, would openly reject comparisons between the average (extremely fortunate) American and the average billionaire, would mock people who claimed that frugal billionaires are a systematic threat to modern life, then soon our time could be spent discussing policy issues that really matter.

Enlightenment -> social justice: https://twitter.com/GarettJones/status/866448789825105920
US reconquista: https://twitter.com/AngloRemnant/status/865980569397731329
envy and psychology textbooks: https://twitter.com/tcjfs/status/887115182257917952

various Twitter threads: https://twitter.com/search?q=GarettJones+inequality

http://www.npr.org/sections/goatsandsoda/2017/09/13/542261863/cash-aid-changed-this-family-s-life-so-why-is-their-government-skeptical

Civilization means saying no to the poor: https://bonald.wordpress.com/2017/11/18/civilization-means-saying-no-to-the-poor/
Although I instinctively dislike him, I do agree with Professor Scott on one point: “exploitation” really is the essence of civilization, whether by exploitation one simply means authority as described by those insensible to its moral force or more simply the refusal of elites to divulge their resources to the poor.

In fact, no human creation of lasting worth could ever be made without a willingness to tell the poor to *** off. If we really listened to the demands of social justice, if we really let compassion be our guide, we could have no art, no music, no science, no religion, no philosophy, no architecture beyond the crudest shelters. The poor are before us, their need perpetually urgent. It is inexcusable for us ever to build a sculpture, a cathedral, a particle accelerator. And the poor, we have it on two good authorities (the other being common sense), will be with us always. What we give for their needs today will have disappeared tomorrow, and they will be hungry again. Imagine if some Savonarola had come to Florence a century or two earlier and convinced the Florentine elite to open their hearts and their wallets to the poor in preference for worldly vanities. All that wealth would have been squandered on the poor and would have disappeared without a trace. Instead, we got the Renaissance.

https://twitter.com/tcjfs/status/904169207293730816
https://archive.is/tYZAi
Reward the lawless; punish the law abiding. Complete inversion which will eventually drive us back to the 3rd world darkness whence we came.

https://twitter.com/tcjfs/status/917492530308112384
https://archive.is/AeXEs
This idea that a group is only honorable in virtue of their victimization is such a pernicious one.
for efficiency, just have "Victims of WASPs Day." A kind of All Victims' Day. Otherwise U.S. calendar will be nothing but days of grievance.
Bonald had a good bit on this (of course).
https://bonald.wordpress.com/2016/08/05/catholics-must-resist-cosmopolitan-universalism/
Steve King is supposedly stupid for claiming that Western Civilization is second to none. One might have supposed that Catholics would take some pride as Catholics in Western civilization, a thing that was in no small part our creation. Instead, the only history American Catholics are to remember is being poor and poorly regarded recent immigrants in America.

https://twitter.com/AngloRemnant/status/917612415243706368
https://archive.is/NDjwK
Don't even bother with the rat race if you value big family. I won the race, & would've been better off as a dentist in Peoria.
.. College prof in Athens, OH. Anesthesiologist in Knoxville. State govt bureaucrat in Helena.
.. This is the formula: Middle America + regulatory capture white-collar job. anyone attempting real work in 2017 america is a RETARD.
.. Also unclear is why anyone in the US would get married. knock your girl up and put that litter on Welfare.
You: keep 50% of your earnings after taxes. 25% is eaten by cost of living. save the last 25%, hope our bankrupt gov doesn't expropriate l8r
The main difference in this country between welfare and 7-figure income is the quality of your kitchen cabinets.

wtf: https://www.bls.gov/ooh/healthcare/dentists.htm
$159,770 per year
$76.81 per hour

18% (Much faster than average)

http://study.com/how_long_does_it_take_to_be_a_dentist.html
Admission into dental school is highly competitive. Along with undergraduate performance, students are evaluated for their Dental Admissions Test (DAT) scores. Students have the opportunity to take this test before graduating college. After gaining admission into dental school, students can go on to complete four years of full-time study to earn the Doctor of Dental Surgery or Doctor of Dental Medicine. Students typically spend the first two years learning general and dental science in classroom and laboratory settings. They may take courses like oral anatomy, histology and pathology. In the final years, dental students participate in clinical practicums, gaining supervised, hands-on experience in dental clinics.

https://twitter.com/AngloRemnant/status/985935089250062337
https://archive.is/yIXfk
https://archive.is/Qscq7
https://archive.is/IQQhU
Career ideas for the minimally ambitious dissident who wants to coast, shitpost, & live well:
- econ phd -> business school prof
- dentistry
- 2 years of banking/consulting -> F500 corp dev or strategy
- gov't bureaucrat in a state capital
--
Bad career ideas, for contrast:
- law
- humanities prof
- IT
- anything 'creative'

[ed.: Personally, I'd also throw in 'actuary' (though keep in mind ~20% risk of automation).]
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june 2017 by nhaliday
There Is No Such Thing as Decreasing Returns to Scale — Confessions of a Supply-Side Liberal
Besides pedagogical inertia—enforced to some extent by textbook publishers—I am not quite sure what motivates the devotion in so many economics curricula to U-shaped average cost curves. Let me make one guess: there is a desire to explain why firms are the size they are rather than larger or smaller. To my mind, such an explanation should proceed in one of three ways, appropriate to three different situations.
econotariat  economics  micro  plots  scale  marginal  industrial-org  business  econ-productivity  efficiency  cost-benefit  explanation  critique  clarity  intricacy  curvature  convexity-curvature  nonlinearity  input-output 
may 2017 by nhaliday
Edge.org: 2017 : WHAT SCIENTIFIC TERM OR CONCEPT OUGHT TO BE MORE WIDELY KNOWN?
highlights:
- the genetic book of the dead [Dawkins]
- complementarity [Frank Wilczek]
- relative information
- effective theory [Lisa Randall]
- affordances [Dennett]
- spontaneous symmetry breaking
- relatedly, equipoise [Nicholas Christakis]
- case-based reasoning
- population reasoning (eg, common law)
- criticality [Cesar Hidalgo]
- Haldan's law of the right size (!SCALE!)
- polygenic scores
- non-ergodic
- ansatz
- state [Aaronson]: http://www.scottaaronson.com/blog/?p=3075
- transfer learning
- effect size
- satisficing
- scaling
- the breeder's equation [Greg Cochran]
- impedance matching

soft:
- reciprocal altruism
- life history [Plomin]
- intellectual honesty [Sam Harris]
- coalitional instinct (interesting claim: building coalitions around "rationality" actually makes it more difficult to update on new evidence as it makes you look like a bad person, eg, the Cathedral)
basically same: https://twitter.com/ortoiseortoise/status/903682354367143936

more: https://www.edge.org/conversation/john_tooby-coalitional-instincts

interesting timing. how woke is this dude?
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may 2017 by nhaliday
Ethics, Quants and Cold-Calling - Bloomberg
As far as I can tell, the pitch for data scientists from Silicon Valley is: "Come work here, you can build advertising models and pretend that you're saving the world," while the pitch for data scientists from Wall Street is: "Come work here, you can build trading models and not have to pretend that you're saving the world." I actually think that is a useful sorting metric, and I know which one I would take.
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may 2017 by nhaliday
Why China Cannot Rise Peacefully - YouTube
- unexpected accent/tone lol
- principles: states as unit of action/global anarchy, uncertainty (fog-of-war), states as rational, selfish actors
- consequences: need to become as powerful as possible, regional hegemon, prevent peer competitors (no other regional hegemon in world, eg, China)
- future: China as giant Hong Kong
- future coalition: India, Japan, Russia, Vietnam, Singapore, South Korea, and the USA
- does he actually think Brazil coulda gotten as powerful as the US? lol.
- his summary of American grand strategy (lol):
1. Europe (great powers)
2. NE Asia (great powers)
3. Persian Gulf (oil)
- "Europe will become distant 3rd, Europe is a museum, lotta old people." lol
- "not gonna help us with Asia, got their own problems, bankrupting themselves"
- counterarguments: "not gonna grow, China's a Confucian culture (don't pay attention to those), economic interdependence." doesn't buy the last either.
- best counterarguments: nuclear deterrence, economic interdependence, "age of nationalism"
- mass-murder usually strategic (eg, maintaining power) not ideological

debate: https://www.youtube.com/watch?v=kd-1LymXXX0

interview: https://www.youtube.com/watch?v=yXSkY4QKDlA
- Clinton's a realist
- plenty of economic independence prior to world wars
- nukes makes WW3 unlikely, but do not rule out limited war (eg, over East/South China Sea)
- Confucian pacifism argument is ahistorical
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may 2017 by nhaliday
Interview: Mostly Sealing Wax | West Hunter
https://soundcloud.com/user-519115521/greg-cochran-part-2
https://medium.com/@houstoneuler/annotating-part-2-of-the-greg-cochran-interview-with-james-miller-678ba33f74fc

- conformity and Google, defense and spying (China knows prob almost all our "secrets")
- in the past you could just find new things faster than people could reverse-engineer. part of the problem is that innovation is slowing down today (part of the reason for convergence by China/developing world).
- introgression from archaics of various kinds
- mutational load and IQ, wrath of khan neanderthal
- trade and antiquity (not that useful besides ideas tbh), Roman empire, disease, smallpox
- spices needed to be grown elsewhere, but besides that...
- analogy: caste system in India (why no Brahmin car repairmen?), slavery in Greco-Roman times, more water mills in medieval times (rivers better in north, but still could have done it), new elite not liking getting hands dirty, low status of engineers, rise of finance
- crookery in finance, hedge fund edge might be substantially insider trading
- long-term wisdom of moving all manufacturing to China...?
- economic myopia: British financialization before WW1 vis-a-vis Germany. North vs. South and cotton/industry, camels in Middle East vs. wagons in Europe
- Western medicine easier to convert to science than Eastern, pseudoscience and wrong theories better than bag of recipes
- Greeks definitely knew some things that were lost (eg, line in Pliny makes reference to combinatorics calculation rediscovered by German dude much later. think he's referring to Catalan numbers?), Lucio Russo book
- Indo-Europeans, Western Europe, Amerindians, India, British Isles, gender, disease, and conquest
- no farming (Dark Age), then why were people still farming on Shetland Islands north of Scotland?
- "symbolic" walls, bodies with arrows
- family stuff, children learning, talking dog, memory and aging
- Chinese/Japanese writing difficulty and children learning to read
- Hatfield-McCoy feud: the McCoy family was actually a case study in a neurological journal. they had anger management issues because of cancers of their adrenal gland (!!).

the Chinese know...: https://macropolo.org/casting-off-real-beijings-cryptic-warnings-finance-taking-economy/
Over the last couple of years, a cryptic idiom has crept into the way China’s top leaders talk about risks in the country’s financial system: tuo shi xiang xu (脱实向虚), which loosely translates as “casting off the real for the empty.” Premier Li Keqiang warned against it at his press conference at the end of the 2016 National People’s Congress (NPC). At this year’s NPC, Li inserted this very expression into his annual work report. And in April, while on an inspection tour of Guangxi, President Xi Jinping used the term, saying that China must “unceasingly promote industrial modernization, raise the level of manufacturing, and not allow the real to be cast off for the empty.”

Such an odd turn of phrase is easy to overlook, but it belies concerns about a significant shift in the way that China’s economy works. What Xi and Li were warning against is typically called financialization in developed economies. It’s when “real” companies—industrial firms, manufacturers, utility companies, property developers, and anyone else that produces a tangible product or service—take their money and, rather than put it back into their businesses, invest it in “empty”, or speculative, assets. It occurs when the returns on financial investments outstrip those in the real economy, leading to a disproportionate amount of money being routed into the financial system.
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may 2017 by nhaliday
Links 5/17: Rip Van Linkle | Slate Star Codex
More on Low-Trust Russia: Do Russian Who Wants To Be A Millionaire contestants avoid asking the audience because they expect audience members to deliberately mislead them?

Xenocrypt on the math of economic geography: “A party’s voters should get more or less seats based on the shape of the monotonic curve with integral one they can be arranged in” might sound like a very silly belief, but it is equivalent to the common mantra that you deserve to lose if your voters are ‘too clustered’”

Okay, look, I went way too long between writing up links posts this time, so you’re getting completely dated obsolete stuff like Actually, Neil Gorsuch Is A Champion Of The Little Guy. But aside from the Gorsuch reference this is actually pretty timeless – basically an argument for strict constructionism on the grounds that “a flexible, living, bendable law will always tend to be bent in the direction of the powerful.”

Otium: Are Adult Developmental Stages Real? Looks at Kohlberg, Kegan, etc.

I mentioned the debate over 5-HTTLPR, a gene supposedly linked to various mental health outcomes, in my review of pharmacogenomics. Now a very complete meta-analysis finds that a lot of the hype around it isn’t true. This is pretty impressive since there are dozens of papers claiming otherwise, and maybe the most striking example yet of how apparently well-replicated a finding can be and still fail to pan out.

Rootclaim describes itself as a crowd-sourced argument mapper. See for example its page on who launched the chemical attack in Syria.

Apparently if you just kill off all the cells that are growing too old, you can partly reverse organisms’ aging (paper, popular article)

The Politics Of The Gene: “Contrary to expectations, however, we find little evidence that it is more common for whites, the socioeconomically advantaged, or political conservatives to believe that genetics are important for health and social outcomes.”

Siberian Fox linked me to two studies that somewhat contradicted my minimalist interpretation of childhood trauma here: Alemany on psychosis and Turkheimer on harsh punishment.

Lyrebird is an AI project which, if fed samples of a person’s voice, can read off any text you want in the same voice. See their demo with Obama, Trump, and Hillary (I find them instantly recognizable but not at all Turing-passing). They say making this available is ethical because it raises awareness of the potential risk, which a Facebook friend compared to “selling nukes to ISIS in order to raise awareness of the risk of someone selling nukes to ISIS.”

Freddie deBoer gives lots of evidence that there is no shortage of qualified STEM workers relative to other fields and the industry is actually pretty saturated. But Wall Street Journal seems to think they have evidence for the opposite? Curious what all of the tech workers here think.

Scott Sumner: How Can There Be A Shortage Of Construction Workers? That is, is it at all plausible that (as help wanted ads would suggest) there are areas where construction companies can’t find unskilled laborers willing to work for $90,000/year? Sumner splits this question in two – first, an economics question of why an efficient market wouldn’t cause salaries to rise to a level that guarantees all jobs get filled. And second, a political question of how this could happen in a country where we’re constantly told that unskilled men are desperate because there are no job opportunities for them anymore. The answers seem to be “there’s a neat but complicated economics reason for the apparent inefficiency” and “the $90,000 number is really misleading but there may still be okay-paying construction jobs going unfilled and that’s still pretty strange”.

Study which is so delightfully contrarian I choose to reblog it before reading it all the way through: mandatory class attendance policies in college decrease grades by preventing students from making rational decisions about when and how to study.
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may 2017 by nhaliday
Concentration and Growth | Dietrich Vollrath
Ultimately, and this is my impression, not some kind of established fact, concentration likely lowers innovative activity. Put it this way, the null hypothesis should probably be that concentration lowers innovation. An individual industry needs to provide evidence they are on the “right side of the curve” in the first AAH figure to believe concentration would be good for productivity growth in the long run.
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may 2017 by nhaliday
Le Pen and Macron Clash in Vicious Presidential Debate in France - The New York Times
https://www.nytimes.com/2017/05/04/world/europe/france-debate-marine-le-pen-emmanuel-macron.html
http://www.europe1.fr/politique/dans-lemission-politique-de-france-2-macron-rebondit-sur-la-fusillade-des-champs-elysees-3306584
"This threat will be part of the daily life of the next few years," he said, paying tribute to the victim. "The first mission of the President of the Republic is to protect."

https://www.washingtonpost.com/sf/world/2017/04/19/a-youth-revolt-in-france-boosts-the-far-right/
If Le Pen wins, European leaders fear the disintegration of the E.U. after decades spent trying to bind the continent more closely together. And although she’s down in hypothetical second-round contests, Le Pen enjoys a commanding lead among France’s youngest voters in the 11-candidate first round, polls show. One survey has her winning nearly 40 percent of the vote among those 18 to 24, nearly double the total of her nearest competitor, Emmanuel Macron.
http://www.aljazeera.com/indepth/features/2017/04/le-pen-support-young-voters-170415161404170.html
https://www.nytimes.com/2017/04/13/world/europe/marine-le-pen-national-front-party.html

http://www.economist.com/news/europe/21715979-fran-ois-fillon-admits-no-wrongdoing-putting-his-wife-payroll-his-campaign
François Fillon admits no wrongdoing in putting his wife on the payroll, but his campaign is faltering
http://www.dw.com/en/fillon-election-favorite-despite-plotting-thatcherite-course/a-37131311
http://www.telegraph.co.uk/news/2016/11/20/nicolas-sarkozy-risks-falling-foul-of-left-wing-tactical-vote-as/

Daily chart: The centre can indeed hold in France’s presidential election: http://www.economist.com/blogs/graphicdetail/2017/04/daily-chart-5
http://www.economist.com/blogs/graphicdetail/2017/04/france-s-presidential-election
20% per prediction markets: http://predictwise.com/politics/french-politics

later:
Laurent Wauquiez s'insurge contre «les élites»: http://www.lefigaro.fr/politique/2017/10/25/01002-20171025ARTFIG00363-laurent-wauquiez-s-insurge-contre-les-elites.php
https://twitter.com/epkaufm/status/929011773155442689
New French centre-right contender Laurent Wauquiez follows Kurz model, says elite suppressing debate over mass immigration, Islam, national identity. France for the French
https://twitter.com/whyvert/status/929094212338966528
https://archive.is/xHwZ5
Likely next leader of French Les Republicains @laurentwauquiez positions himself as populist nationalist: denounces the taboo on discussing the nation, massive immigration, identity, values, Islamism
news  org:rec  current-events  europe  gallic  elections  politics  culture-war  westminster  populism  nl-and-so-can-you  nationalism-globalism  multi  government  org:euro  terrorism  crime  order-disorder  patho-altruism  clown-world  lurid  age-generation  data  trends  org:foreign  poll  org:biz  org:anglo  anomie  corruption  business  policy  economics  anglosphere  EU  migrant-crisis  brexit  britain  islam  right-wing  prediction  debate  polisci  tetlock  meta:prediction  judaism  discrimination  leaks  media  eric-kaufmann  twitter  social  commentary  backup  scitariat  gnon 
may 2017 by nhaliday
What software engineers are making around the world right now | TechCrunch
https://blogs.wsj.com/economics/2017/07/26/the-best-100000-tech-jobs-are-increasingly-concentrated-in-just-8-cities/
The eight leading U.S. tech hubs account for slightly less than 10% of U.S. jobs and about 13% of overall job postings. But the cities — Seattle, San Francisco, San Jose, Austin, Raleigh, Washington, Baltimore and Boston — account for more than 27% of the listings for U.S. tech jobs, research from Jed Kolko, the chief economist of the job-search website Indeed, shows.

That’s already a striking concentration, but tech jobs with the highest salaries are even more centralized. Among jobs that typically pay over $100,000, nearly 40% of openings are in those eight cities.

The hubs are defined as the cities with the highest share of jobs in tech, so cities like New York City, with large populations but not a concentrated focus on tech, do not count.
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may 2017 by nhaliday
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