nhaliday + growth-econ   358

The Hanson-Yudkowsky AI-Foom Debate - Machine Intelligence Research Institute
How Deviant Recent AI Progress Lumpiness?: http://www.overcomingbias.com/2018/03/how-deviant-recent-ai-progress-lumpiness.html
I seem to disagree with most people working on artificial intelligence (AI) risk. While with them I expect rapid change once AI is powerful enough to replace most all human workers, I expect this change to be spread across the world, not concentrated in one main localized AI system. The efforts of AI risk folks to design AI systems whose values won’t drift might stop global AI value drift if there is just one main AI system. But doing so in a world of many AI systems at similar abilities levels requires strong global governance of AI systems, which is a tall order anytime soon. Their continued focus on preventing single system drift suggests that they expect a single main AI system.

The main reason that I understand to expect relatively local AI progress is if AI progress is unusually lumpy, i.e., arriving in unusually fewer larger packages rather than in the usual many smaller packages. If one AI team finds a big lump, it might jump way ahead of the other teams.

However, we have a vast literature on the lumpiness of research and innovation more generally, which clearly says that usually most of the value in innovation is found in many small innovations. We have also so far seen this in computer science (CS) and AI. Even if there have been historical examples where much value was found in particular big innovations, such as nuclear weapons or the origin of humans.

Apparently many people associated with AI risk, including the star machine learning (ML) researchers that they often idolize, find it intuitively plausible that AI and ML progress is exceptionally lumpy. Such researchers often say, “My project is ‘huge’, and will soon do it all!” A decade ago my ex-co-blogger Eliezer Yudkowsky and I argued here on this blog about our differing estimates of AI progress lumpiness. He recently offered Alpha Go Zero as evidence of AI lumpiness:

...

In this post, let me give another example (beyond two big lumps in a row) of what could change my mind. I offer a clear observable indicator, for which data should have available now: deviant citation lumpiness in recent ML research. One standard measure of research impact is citations; bigger lumpier developments gain more citations that smaller ones. And it turns out that the lumpiness of citations is remarkably constant across research fields! See this March 3 paper in Science:

I Still Don’t Get Foom: http://www.overcomingbias.com/2014/07/30855.html
All of which makes it look like I’m the one with the problem; everyone else gets it. Even so, I’m gonna try to explain my problem again, in the hope that someone can explain where I’m going wrong. Here goes.

“Intelligence” just means an ability to do mental/calculation tasks, averaged over many tasks. I’ve always found it plausible that machines will continue to do more kinds of mental tasks better, and eventually be better at pretty much all of them. But what I’ve found it hard to accept is a “local explosion.” This is where a single machine, built by a single project using only a tiny fraction of world resources, goes in a short time (e.g., weeks) from being so weak that it is usually beat by a single human with the usual tools, to so powerful that it easily takes over the entire world. Yes, smarter machines may greatly increase overall economic growth rates, and yes such growth may be uneven. But this degree of unevenness seems implausibly extreme. Let me explain.

If we count by economic value, humans now do most of the mental tasks worth doing. Evolution has given us a brain chock-full of useful well-honed modules. And the fact that most mental tasks require the use of many modules is enough to explain why some of us are smarter than others. (There’d be a common “g” factor in task performance even with independent module variation.) Our modules aren’t that different from those of other primates, but because ours are different enough to allow lots of cultural transmission of innovation, we’ve out-competed other primates handily.

We’ve had computers for over seventy years, and have slowly build up libraries of software modules for them. Like brains, computers do mental tasks by combining modules. An important mental task is software innovation: improving these modules, adding new ones, and finding new ways to combine them. Ideas for new modules are sometimes inspired by the modules we see in our brains. When an innovation team finds an improvement, they usually sell access to it, which gives them resources for new projects, and lets others take advantage of their innovation.

...

In Bostrom’s graph above the line for an initially small project and system has a much higher slope, which means that it becomes in a short time vastly better at software innovation. Better than the entire rest of the world put together. And my key question is: how could it plausibly do that? Since the rest of the world is already trying the best it can to usefully innovate, and to abstract to promote such innovation, what exactly gives one small project such a huge advantage to let it innovate so much faster?

...

In fact, most software innovation seems to be driven by hardware advances, instead of innovator creativity. Apparently, good ideas are available but must usually wait until hardware is cheap enough to support them.

Yes, sometimes architectural choices have wider impacts. But I was an artificial intelligence researcher for nine years, ending twenty years ago, and I never saw an architecture choice make a huge difference, relative to other reasonable architecture choices. For most big systems, overall architecture matters a lot less than getting lots of detail right. Researchers have long wandered the space of architectures, mostly rediscovering variations on what others found before.

Some hope that a small project could be much better at innovation because it specializes in that topic, and much better understands new theoretical insights into the basic nature of innovation or intelligence. But I don’t think those are actually topics where one can usefully specialize much, or where we’ll find much useful new theory. To be much better at learning, the project would instead have to be much better at hundreds of specific kinds of learning. Which is very hard to do in a small project.

What does Bostrom say? Alas, not much. He distinguishes several advantages of digital over human minds, but all software shares those advantages. Bostrom also distinguishes five paths: better software, brain emulation (i.e., ems), biological enhancement of humans, brain-computer interfaces, and better human organizations. He doesn’t think interfaces would work, and sees organizations and better biology as only playing supporting roles.

...

Similarly, while you might imagine someday standing in awe in front of a super intelligence that embodies all the power of a new age, superintelligence just isn’t the sort of thing that one project could invent. As “intelligence” is just the name we give to being better at many mental tasks by using many good mental modules, there’s no one place to improve it. So I can’t see a plausible way one project could increase its intelligence vastly faster than could the rest of the world.

Takeoff speeds: https://sideways-view.com/2018/02/24/takeoff-speeds/
Futurists have argued for years about whether the development of AGI will look more like a breakthrough within a small group (“fast takeoff”), or a continuous acceleration distributed across the broader economy or a large firm (“slow takeoff”).

I currently think a slow takeoff is significantly more likely. This post explains some of my reasoning and why I think it matters. Mostly the post lists arguments I often hear for a fast takeoff and explains why I don’t find them compelling.

(Note: this is not a post about whether an intelligence explosion will occur. That seems very likely to me. Quantitatively I expect it to go along these lines. So e.g. while I disagree with many of the claims and assumptions in Intelligence Explosion Microeconomics, I don’t disagree with the central thesis or with most of the arguments.)
ratty  lesswrong  subculture  miri-cfar  ai  risk  ai-control  futurism  books  debate  hanson  big-yud  prediction  contrarianism  singularity  local-global  speed  speedometer  time  frontier  distribution  smoothness  shift  pdf  economics  track-record  abstraction  analogy  links  wiki  list  evolution  mutation  selection  optimization  search  iteration-recursion  intelligence  metameta  chart  analysis  number  ems  coordination  cooperate-defect  death  values  formal-values  flux-stasis  philosophy  farmers-and-foragers  malthus  scale  studying  innovation  insight  conceptual-vocab  growth-econ  egalitarianism-hierarchy  inequality  authoritarianism  wealth  near-far  rationality  epistemic  biases  cycles  competition  arms  zero-positive-sum  deterrence  war  peace-violence  winner-take-all  technology  moloch  multi  plots  research  science  publishing  humanity  labor  marginal  urban-rural  structure  composition-decomposition  complex-systems  gregory-clark  decentralized  heavy-industry  magnitude  multiplicative  endogenous-exogenous  models  uncertainty  decision-theory  time-prefer 
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
ratty  lesswrong  commentary  ai  ai-control  risk  futurism  technology  speedometer  audio  presentation  musk  thiel  barons  frontier  miri-cfar  charity  people  track-record  venture  startups  entrepreneurialism  contrarianism  competition  market-power  business  google  truth  management  leadership  socs-and-mops  dark-arts  skunkworks  hard-tech  energy-resources  wire-guided  learning  software  sv  tech  network-structure  scale  marginal  cost-benefit  innovation  industrial-revolution  economics  growth-econ  capitalism  comparison  nationalism-globalism  china  asia  trade  stagnation  things  dimensionality  exploratory  world  developing-world  thinking  definite-planning  optimism  pessimism  intricacy  politics  war  career  planning  supply-demand  labor  science  engineering  dirty-hands  biophysical-econ  migration  human-capital  policy  canada  anglo  winner-take-all  polarization  amazon  business-models  allodium  civilization  the-classics  microsoft  analogy  gibbon  conquest-empire  realness  cynicism-idealism  org:edu  open-closed  ethics  incentives  m 
february 2018 by nhaliday
Reid Hofmann and Peter Thiel and technology and politics - Marginal REVOLUTION
econotariat  marginal-rev  links  video  interview  thiel  barons  randy-ayndy  cryptocurrency  ai  communism  individualism-collectivism  civil-liberty  sv  tech  automation  speedometer  stagnation  technology  politics  current-events  trends  democracy  usa  malthus  zero-positive-sum  china  asia  stanford  news  org:local  polarization  economics  cycles  growth-econ  zeitgeist  housing  urban-rural  california  the-west  decentralized  privacy  anonymity  inequality  multi  winner-take-all  realpolitik  machiavelli  error  order-disorder  leviathan  dirty-hands  the-world-is-just-atoms  heavy-industry  embodied  engineering  reflection  trump  2016-election  pessimism  definite-planning  optimism  left-wing  right-wing  steel-man  managerial-state  orwellian  vampire-squid  contrarianism  age-generation  econ-productivity  compensation  time-series  feudal  gnosis-logos 
february 2018 by nhaliday
What explains the formation and decay of clusters of creativity? - Marginal REVOLUTION
Creativity is often highly concentrated in time and space, and across different domains. What explains the formation and decay of clusters of creativity? In this paper we match data on thousands of notable individuals born in Europe between the XIth and the XIXth century with historical data on city institutions and population. After documenting several stylized facts, we show that the formation of creative clusters is not preceded by increases in city size. Instead, the emergence of city institutions protecting economic and political freedoms facilitates the attraction and production of creative talent.

IOW, the opposite of what Dick Florida said.
econotariat  marginal-rev  links  commentary  study  economics  growth-econ  broad-econ  cliometrics  innovation  stylized-facts  contrarianism  urban-rural  europe  the-great-west-whale  history  medieval  political-econ  institutions  microfoundations  roots  policy  nascent-state  creative  civil-liberty  randy-ayndy  polisci  regulation  capitalism  markets  mokyr-allen-mccloskey  enlightenment-renaissance-restoration-reformation  reflection  track-record 
january 2018 by nhaliday
Team *Decorations Until Epiphany* on Twitter: "@RoundSqrCupola maybe just C https://t.co/SFPXb3qrAE"
https://archive.is/k0fsS
Remember ‘BRICs’? Now it’s just ICs.
--
maybe just C
Solow predicts that if 2 countries have the same TFP, then the poorer nation should grow faster. But poorer India grows more slowly than China.

Solow thinking leads one to suspect India has substantially lower TFP.

Recent growth is great news, but alas 5 years isn't the long run!

FWIW under Solow conditional convergence assumptions--historically robust--the fact that a country as poor as India grows only a few % faster than the world average is a sign they'll end up poorer than S Europe.
spearhead  econotariat  garett-jones  unaffiliated  twitter  social  discussion  india  asia  china  economics  macro  growth-econ  econ-metrics  wealth  wealth-of-nations  convergence  world  developing-world  trends  time-series  cjones-like  prediction  multi  backup  the-bones  long-short-run  europe  mediterranean  comparison  simulation  econ-productivity  great-powers  thucydides  broad-econ  pop-diff  microfoundations  🎩  marginal  hive-mind  rindermann-thompson  hari-seldon 
december 2017 by nhaliday
The rate of return on everything - Marginal REVOLUTION
Here is what I learned from the paper itself:

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

I found this to be one of the best and most interesting papers of the year.
econotariat  marginal-rev  commentary  study  summary  economics  macro  investing  ORFE  securities  data  street-fighting  objektbuch  scale  time-preference  cost-benefit  outcome-risk  housing  money  monetary-fiscal  debt  history  mostly-modern  world-war  trends  correlation  moments  growth-econ  inequality  piketty  stylized-facts  war  meta:war 
december 2017 by nhaliday
ON THE ORIGIN OF STATES: STATIONARY BANDITS AND TAXATION IN EASTERN CONGO
As a foundation for this study, I organized the collection of village-level panel data on violent actors, managing teams of surveyors, village elders, and households in 380 war-torn areas of DRC. I introduce optimal taxation theory to the decision of violent actors to establish local monopolies of violence. The value of such decision hinges on their ability to tax the local population. A sharp rise in the global demand for coltan, a bulky commodity used in the electronics industry, leads violent actors to impose monopolies of violence and taxation in coltan sites, which persist even years after demand collapses. A similar rise in the demand for gold, easier to conceal and more difficult to tax, does not. However, the groups who nevertheless control gold sites are more likely to respond by undertaking investments in fiscal capacity, consistent with the difficulty to observe gold, and with well-documented trajectories of state formation in Europe (Ardant, 1975). The findings support the view that the expected revenue from taxation, determined in particular by tax base elasticity and costly investments in fiscal capacity, can explain the stages of state formation preceding the states as we recognize them today.
pdf  study  economics  growth-econ  broad-econ  political-econ  polisci  leviathan  north-weingast-like  unintended-consequences  institutions  microfoundations  econometrics  empirical  government  taxes  rent-seeking  supply-demand  incentives  property-rights  africa  developing-world  peace-violence  interests  longitudinal  natural-experiment  endogenous-exogenous  archaeology  trade  world  feudal  roots  ideas  cost-benefit  econ-productivity 
november 2017 by nhaliday
King Kong and Cold Fusion: Counterfactual analysis and the History of Technology
How “contingent” is technological history? Relying on models from evolutionary epistemology, I argue for an analogy with Darwinian Biology and thus a much greater degree of contingency than is normally supposed. There are three levels of contingency in technological development. The crucial driving force behind technology is what I call S-knowledge, that is, an understanding of the exploitable regularities of nature (which includes “science” as a subset). The development of techniques depend on the existence of epistemic bases in S. The “inevitability” of technology thus depends crucially on whether we condition it on the existence of the appropriate S-knowledge. Secondly, even if this knowledge emerges, there is nothing automatic about it being transformed into a technique that is, a set of instructions that transforms knowledge into production. Third, even if the techniques are proposed, there is selection which reflects the preferences and biases of an economy and injects another level of indeterminacy and contingency into the technological history of nations.

https://twitter.com/whyvert/status/932451959079972865
https://archive.is/MBmyV
Moslem conquest of Europe, or a Mongol conquest, or a post-1492 epidemic, or a victory of the counter-reformation would have prevented the Industrial Revolution (Joel Mokyr)
pdf  study  essay  economics  growth-econ  broad-econ  microfoundations  history  medieval  early-modern  industrial-revolution  divergence  volo-avolo  random  mokyr-allen-mccloskey  wealth-of-nations  europe  the-great-west-whale  occident  path-dependence  roots  knowledge  technology  society  multi  twitter  social  commentary  backup  conquest-empire  war  islam  MENA  disease  parasites-microbiome  counterfactual  age-of-discovery  enlightenment-renaissance-restoration-reformation  usa  scitariat  gnon  degrees-of-freedom 
november 2017 by nhaliday
Climate Risk, Cooperation, and the Co-Evolution of Culture and Institutions∗
We test this hypothesis for Europe combining high-resolution climate data for the period 1500-2000 with survey data at the sub-national level. We find that regions with higher inter-annual variability in precipitation and temperature display higher levels of trust. This effect is driven by variability in the growing season months, and by historical rather than recent variability. Regarding possible mechanisms, we show that regions with more variable climate were more closely connected to the Medieval trade network, indicating a higher propensity to engage in inter-community exchange. We also find that these regions were more likely to adopt participatory political institutions earlier on, and are characterized by a higher quality of local governments still today. Our results suggest that, by favoring the emergence of mutually-reinforcing norms and institutions, exposure to environmental risk had a long-lasting impact on human cooperation.
pdf  study  broad-econ  economics  cliometrics  path-dependence  growth-econ  political-econ  institutions  government  social-norms  culture  cultural-dynamics  correlation  history  early-modern  mostly-modern  values  poll  trust  n-factor  cooperate-defect  cohesion  democracy  environment  europe  the-great-west-whale  geography  trade  network-structure  general-survey  outcome-risk  uncertainty  branches  microfoundations  hari-seldon 
november 2017 by nhaliday
Global Evidence on Economic Preferences
- Benjamin Enke et al

This paper studies the global variation in economic preferences. For this purpose, we present the Global Preference Survey (GPS), an experimentally validated survey dataset of time preference, risk preference, positive and negative reciprocity, altruism, and trust from 80,000 individuals in 76 countries. The data reveal substantial heterogeneity in preferences across countries, but even larger within-country heterogeneity. Across individuals, preferences vary with age, gender, and cognitive ability, yet these relationships appear partly country specific. At the country level, the data reveal correlations between preferences and bio-geographic and cultural variables such as agricultural suitability, language structure, and religion. Variation in preferences is also correlated with economic outcomes and behaviors. Within countries and subnational regions, preferences are linked to individual savings decisions, labor market choices, and prosocial behaviors. Across countries, preferences vary with aggregate outcomes ranging from per capita income, to entrepreneurial activities, to the frequency of armed conflicts.

...

This paper explores these questions by making use of the core features of the GPS: (i) coverage of 76 countries that represent approximately 90 percent of the world population; (ii) representative population samples within each country for a total of 80,000 respondents, (iii) measures designed to capture time preference, risk preference, altruism, positive reciprocity, negative reciprocity, and trust, based on an ex ante experimental validation procedure (Falk et al., 2016) as well as pre-tests in culturally heterogeneous countries, (iv) standardized elicitation and translation techniques through the pre-existing infrastructure of a global polling institute, Gallup. Upon publication, the data will be made publicly available online. The data on individual preferences are complemented by a comprehensive set of covariates provided by the Gallup World Poll 2012.

...

The GPS preference measures are based on twelve survey items, which were selected in an initial survey validation study (see Falk et al., 2016, for details). The validation procedure involved conducting multiple incentivized choice experiments for each preference, and testing the relative abilities of a wide range of different question wordings and formats to predict behavior in these choice experiments. The particular items used to construct the GPS preference measures were selected based on optimal performance out of menus of alternative items (for details see Falk et al., 2016). Experiments provide a valuable benchmark for selecting survey items, because they can approximate the ideal choice situations, specified in economic theory, in which individuals make choices in controlled decision contexts. Experimental measures are very costly, however, to implement in a globally representative sample, whereas survey measures are much less costly.⁴ Selecting survey measures that can stand in for incentivized revealed preference measures leverages the strengths of both approaches.

The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences: http://ftp.iza.org/dp9674.pdf

Table 1: Survey items of the GPS

Figure 1: World maps of patience, risk taking, and positive reciprocity.
Figure 2: World maps of negative reciprocity, altruism, and trust.

Figure 3: Gender coefficients by country. For each country, we regress the respective preference on gender, age and its square, and subjective math skills, and plot the resulting gender coefficients as well as their significance level. In order to make countries comparable, each preference was standardized (z-scores) within each country before computing the coefficients.

Figure 4: Cognitive ability coefficients by country. For each country, we regress the respective preference on gender, age and its square, and subjective math skills, and plot the resulting coefficients on subjective math skills as well as their significance level. In order to make countries comparable, each preference was standardized (z-scores) within each country before computing the coefficients.

Figure 5: Age profiles by OECD membership.

Table 6: Pairwise correlations between preferences and geographic and cultural variables

Figure 10: Distribution of preferences at individual level.
Figure 11: Distribution of preferences at country level.

interesting digression:
D Discussion of Measurement Error and Within- versus Between-Country Variation
study  dataset  data  database  let-me-see  economics  growth-econ  broad-econ  microfoundations  anthropology  cultural-dynamics  culture  psychology  behavioral-econ  values  🎩  pdf  piracy  world  spearhead  general-survey  poll  group-level  within-group  variance-components  🌞  correlation  demographics  age-generation  gender  iq  cooperate-defect  time-preference  temperance  labor  wealth  wealth-of-nations  entrepreneurialism  outcome-risk  altruism  trust  patience  developing-world  maps  visualization  n-factor  things  phalanges  personality  regression  gender-diff  pop-diff  geography  usa  canada  anglo  europe  the-great-west-whale  nordic  anglosphere  MENA  africa  china  asia  sinosphere  latin-america  self-report  hive-mind  GT-101  realness  long-short-run  endo-exo  signal-noise  communism  japan  korea  methodology  measurement  org:ngo  white-paper  endogenous-exogenous  within-without  hari-seldon 
october 2017 by nhaliday
Frontier Culture: The Roots and Persistence of “Rugged Individualism” in the United States∗
In a classic 1893 essay, Frederick Jackson Turner argued that the American frontier promoted individualism. We revisit the Frontier Thesis and examine its relevance at the subnational level. Using Census data and GIS techniques, we track the frontier throughout the 1790–1890 period and construct a novel, county-level measure of historical frontier experience. We document the distinctive demographics of frontier locations during this period—disproportionately male, prime-age adult, foreign-born, and illiterate—as well as their higher levels of individualism, proxied by the share of infrequent names among children. Many decades after the closing of the frontier, counties with longer historical frontier experience exhibit more prevalent individualism and opposition to redistribution and regulation. We take several steps towards a causal interpretation, including an instrumental variables approach that exploits variation in the speed of westward expansion induced by prior national immigration in- flows. Using linked historical Census data, we identify mechanisms giving rise to a persistent frontier culture. Greater individualism on the frontier was not driven solely by selective migration, suggesting that frontier conditions may have shaped behavior and values. We provide evidence suggesting that rugged individualism may be rooted in its adaptive advantage on the frontier and the opportunities for upward mobility through effort.

https://twitter.com/whyvert/status/921900860224897024
https://archive.is/jTzSe

The Origins of Cultural Divergence: Evidence from a Developing Country.: http://economics.handels.gu.se/digitalAssets/1643/1643769_37.-hoang-anh-ho-ncde-2017-june.pdf
Cultural norms diverge substantially across societies, often even within the same country. In this paper, we test the voluntary settlement hypothesis, proposing that individualistic people tend to self-select into migrating out of reach from collectivist states towards the periphery and that such patterns of historical migration are reflected even in the contemporary distribution of norms. For more than one thousand years during the first millennium CE, northern Vietnam was under an exogenously imposed Chinese rule. From the eleventh to the eighteenth centuries, ancient Vietnam gradually expanded its territory through various waves of southward conquest. We demonstrate that areas being annexed earlier into ancient Vietnam are nowadays more (less) prone to collectivist (individualist) culture. We argue that the southward out-migration of individualist people was the main mechanism behind this finding. The result is consistent across various measures obtained from an extensive household survey and robust to various control variables as well as to different empirical specifications, including an instrumental variable estimation. A lab-in-the-field experiment also confirms the finding.
pdf  study  economics  broad-econ  cliometrics  path-dependence  evidence-based  empirical  stylized-facts  values  culture  cultural-dynamics  anthropology  usa  frontier  allodium  the-west  correlation  individualism-collectivism  measurement  politics  ideology  expression-survival  redistribution  regulation  political-econ  government  migration  history  early-modern  pre-ww2  things  phalanges  🎩  selection  polisci  roots  multi  twitter  social  commentary  scitariat  backup  gnon  growth-econ  medieval  china  asia  developing-world  shift  natural-experiment  endo-exo  endogenous-exogenous  hari-seldon 
october 2017 by nhaliday
“Editor’s Introduction to The New Economic History and the Industrial Revolution,” J. Mokyr (1998) | A Fine Theorem
I taught a fun three hours on the Industrial Revolution in my innovation PhD course this week. The absolutely incredible change in the condition of mankind that began in a tiny corner of Europe in an otherwise unremarkable 70-or-so years is totally fascinating. Indeed, the Industrial Revolution and its aftermath are so important to human history that I find it strange that we give people PhDs in social science without requiring at least some study of what happened.

My post today draws heavily on Joel Mokyr’s lovely, if lengthy, summary of what we know about the period. You really should read the whole thing, but if you know nothing about the IR, there are really five facts of great importance which you should be aware of.

1) The world was absurdly poor from the dawn of mankind until the late 1800s, everywhere.
2) The average person did not become richer, nor was overall economic growth particularly spectacular, during the Industrial Revolution; indeed, wages may have fallen between 1760 and 1830.
3) Major macro inventions, and growth, of the type seen in England in the late 1700s and early 1800s happened many times in human history.
4) It is hard for us today to understand how revolutionary ideas like “experimentation” or “probability” were.
5) The best explanations for “why England? why in the late 1700s? why did growth continue?” do not involve colonialism, slavery, or famous inventions.
econotariat  broad-econ  economics  growth-econ  cjones-like  summary  divergence  industrial-revolution  list  top-n  mokyr-allen-mccloskey  hi-order-bits  aphorism  wealth  wealth-of-nations  malthus  revolution  innovation  the-trenches  science  europe  the-great-west-whale  britain  conceptual-vocab  history  early-modern  technology  long-short-run  econ-metrics  data  time-series  conquest-empire  india  asia  scale  attaq  enlightenment-renaissance-restoration-reformation  roots  cycles  flux-stasis  whiggish-hegelian 
october 2017 by nhaliday
Definite optimism as human capital | Dan Wang
I’ve come to the view that creativity and innovative capacity aren’t a fixed stock, coiled and waiting to be released by policy. Now, I know that a country will not do well if it has poor infrastructure, interest rate management, tax and regulation levels, and a whole host of other issues. But getting them right isn’t sufficient to promote innovation; past a certain margin, when they’re all at rational levels, we ought to focus on promoting creativity and drive as a means to propel growth.

...

When I say “positive” vision, I don’t mean that people must see the future as a cheerful one. Instead, I’m saying that people ought to have a vision at all: A clear sense of how the technological future will be different from today. To have a positive vision, people must first expand their imaginations. And I submit that an interest in science fiction, the material world, and proximity to industry all help to refine that optimism. I mean to promote imagination by direct injection.

...

If a state has lost most of its jobs for electrical engineers, or nuclear engineers, or mechanical engineers, then fewer young people in that state will study those practices, and technological development in related fields slow down a little further. When I bring up these thoughts on resisting industrial decline to economists, I’m unsatisfied with their responses. They tend to respond by tautology (“By definition, outsourcing improves on the status quo”) or arithmetic (see: gains from comparative advantage, Ricardo). These kinds of logical exercises are not enough. I would like for more economists to consider a human capital perspective for preserving manufacturing expertise (to some degree).

I wonder if the so-called developed countries should be careful of their own premature deindustrialization. The US industrial base has faltered, but there is still so much left to build. Until we’ve perfected asteroid mining and super-skyscrapers and fusion rockets and Jupiter colonies and matter compilers, we can’t be satisfied with innovation confined mostly to the digital world.

Those who don’t mind the decline of manufacturing employment like to say that people have moved on to higher-value work. But I’m not sure that this is usually the case. Even if there’s an endlessly capacious service sector to absorb job losses in manufacturing, it’s often the case that these new jobs feature lower productivity growth and involve greater rent-seeking. Not everyone is becoming hedge fund managers and machine learning engineers. According to BLS, the bulk of service jobs are in 1. government (22 million), 2. professional services (19m), 3. healthcare (18m), 4. retail (15m), and 5. leisure and hospitality (15m). In addition to being often low-paying but still competitive, a great deal of service sector jobs tend to stress capacity for emotional labor over capacity for manual labor. And it’s the latter that tends to be more present in fields involving technological upgrading.

...

Here’s a bit more skepticism of service jobs. In an excellent essay on declining productivity growth, Adair Turner makes the point that many service jobs are essentially zero-sum. I’d like to emphasize and elaborate on that idea here.

...

Call me a romantic, but I’d like everyone to think more about industrial lubricants, gas turbines, thorium reactors, wire production, ball bearings, underwater cables, and all the things that power our material world. I abide by a strict rule never to post or tweet about current political stuff; instead I try to draw more attention to the world of materials. And I’d like to remind people that there are many things more edifying than following White House scandals.

...

First, we can all try to engage more actively with the material world, not merely the digital or natural world. Go ahead and pick an industrial phenomenon and learn more about it. Learn more about the history of aviation, and what it took to break the sound barrier; gaze at the container ships as they sail into port, and keep in mind that they carry 90 percent of the goods you see around you; read about what we mold plastics to do; meditate on the importance of steel in civilization; figure out what’s driving the decline in the cost of solar energy production, or how we draw electricity from nuclear fission, or what it takes to extract petroleum or natural gas from the ground.

...

Here’s one more point that I’d like to add on Girard at college: I wonder if to some extent current dynamics are the result of the liberal arts approach of “college teaches you how to think, not what to think.” I’ve never seen much data to support this wonderful claim that college is good at teaching critical thinking skills. Instead, students spend most of their energies focused on raising or lowering the status of the works they study or the people around them, giving rise to the Girardian terror that has gripped so many campuses.

College as an incubator of Girardian terror: http://danwang.co/college-girardian-terror/
It’s hard to construct a more perfect incubator for mimetic contagion than the American college campus. Most 18-year-olds are not super differentiated from each other. By construction, whatever distinctions any does have are usually earned through brutal, zero-sum competitions. These tournament-type distinctions include: SAT scores at or near perfection; being a top player on a sports team; gaining master status from chess matches; playing first instrument in state orchestra; earning high rankings in Math Olympiad; and so on, culminating in gaining admission to a particular college.

Once people enter college, they get socialized into group environments that usually continue to operate in zero-sum competitive dynamics. These include orchestras and sport teams; fraternities and sororities; and many types of clubs. The biggest source of mimetic pressures are the classes. Everyone starts out by taking the same intro classes; those seeking distinction throw themselves into the hardest classes, or seek tutelage from star professors, and try to earn the highest grades.

Mimesis Machines and Millennials: http://quillette.com/2017/11/02/mimesis-machines-millennials/
In 1956, a young Liverpudlian named John Winston Lennon heard the mournful notes of Elvis Presley’s Heartbreak Hotel, and was transformed. He would later recall, “nothing really affected me until I heard Elvis. If there hadn’t been an Elvis, there wouldn’t have been the Beatles.” It is an ancient human story. An inspiring model, an inspired imitator, and a changed world.

Mimesis is the phenomenon of human mimicry. Humans see, and they strive to become what they see. The prolific Franco-Californian philosopher René Girard described the human hunger for imitation as mimetic desire. According to Girard, mimetic desire is a mighty psychosocial force that drives human behavior. When attempted imitation fails, (i.e. I want, but fail, to imitate my colleague’s promotion to VP of Business Development), mimetic rivalry arises. According to mimetic theory, periodic scapegoating—the ritualistic expelling of a member of the community—evolved as a way for archaic societies to diffuse rivalries and maintain the general peace.

As civilization matured, social institutions evolved to prevent conflict. To Girard, sacrificial religious ceremonies first arose as imitations of earlier scapegoating rituals. From the mimetic worldview healthy social institutions perform two primary functions,

They satisfy mimetic desire and reduce mimetic rivalry by allowing imitation to take place.
They thereby reduce the need to diffuse mimetic rivalry through scapegoating.
Tranquil societies possess and value institutions that are mimesis tolerant. These institutions, such as religion and family, are Mimesis Machines. They enable millions to see, imitate, and become new versions of themselves. Mimesis Machines, satiate the primal desire for imitation, and produce happy, contented people. Through Mimesis Machines, Elvis fans can become Beatles.

Volatile societies, on the other hand, possess and value mimesis resistant institutions that frustrate attempts at mimicry, and mass produce frustrated, resentful people. These institutions, such as capitalism and beauty hierarchies, are Mimesis Shredders. They stratify humanity, and block the ‘nots’ from imitating the ‘haves’.
techtariat  venture  commentary  reflection  innovation  definite-planning  thiel  barons  economics  growth-econ  optimism  creative  malaise  stagnation  higher-ed  status  error  the-world-is-just-atoms  heavy-industry  sv  zero-positive-sum  japan  flexibility  china  outcome-risk  uncertainty  long-short-run  debt  trump  entrepreneurialism  human-capital  flux-stasis  cjones-like  scifi-fantasy  labor  dirty-hands  engineering  usa  frontier  speedometer  rent-seeking  econ-productivity  government  healthcare  essay  rhetoric  contrarianism  nascent-state  unintended-consequences  volo-avolo  vitality  technology  tech  cs  cycles  energy-resources  biophysical-econ  trends  zeitgeist  rot  alt-inst  proposal  multi  news  org:mag  org:popup  philosophy  big-peeps  speculation  concept  religion  christianity  theos  buddhism  politics  polarization  identity-politics  egalitarianism-hierarchy  inequality  duplication  society  anthropology  culture-war  westminster  info-dynamics  tribalism  institutions  envy  age-generation  letters  noble-lie 
october 2017 by nhaliday
Constraining the Samurai: Rebellion and Taxation in Early Modern Japan | International Studies Quarterly | Oxford Academic
We study the extent to which peasant-led rebellions and collective desertion (“flight”) lowered the subsequent tax rate imposed by samurai rulers. Using newly compiled data on different types of peasant-led political mobilization—from petitions to insurrections—we find an association between, on the one hand, large-scale rebellions and flight and, on the other, lower tax rates.
study  economics  growth-econ  broad-econ  history  early-modern  japan  asia  sinosphere  institutions  government  political-econ  redistribution  taxes  incentives  cliometrics  peace-violence  natural-experiment  migration  revolution  correlation  elite  exit-voice 
september 2017 by nhaliday
Autocratic Rule and Social Capital: Evidence from Imperial China by Melanie Meng Xue, Mark Koyama :: SSRN
This paper studies how autocratic rule affects social capital. Between 1660-1788, individuals in imperial China were persecuted if they were suspected of holding subversive attitudes towards the state. A difference-in-differences approach suggests that these persecutions led to a decline of 38% in social capital, as measured by the number of charitable organizations, in each subsequent decade. Investigating the long-run effect of autocratic rule, we show that persecutions are associated with lower levels of trust, political engagement, and the under provision of local public goods. These results indicate a possible vicious cycle in which autocratic rule becomes self-reinforcing through a permanent decline in social capital.
study  economics  broad-econ  econotariat  history  early-modern  growth-econ  authoritarianism  antidemos  china  asia  sinosphere  orient  n-factor  social-capital  individualism-collectivism  charity  cliometrics  trust  cohesion  political-econ  polisci  public-goodish  correlation  intervention  unintended-consequences  iteration-recursion  cycles  effect-size  path-dependence  🎩  leviathan  endogenous-exogenous  control  branches  pseudoE  slippery-slope  counter-revolution  nascent-state  microfoundations  explanans  the-great-west-whale  occident  madisonian  hari-seldon  law  egalitarianism-hierarchy  local-global  decentralized  the-watchers  noblesse-oblige  benevolence 
september 2017 by nhaliday
Can Europe Run Greece? Lessons from U.S. Fiscal Receiverships in Latin America, 1904-31 by Noel Maurer, Leticia Arroyo Abad :: SSRN
In 2012 and again in 2015, the German government proposed sending German administrators to manage Greece’s tax and privatization authorities. The idea was that shared governance would reduce corruption and root out inefficient practices. (In 2017 the Boston Globe proposed a similar arrangement for Haiti.) We test a version of shared governance using eight U.S. interventions between 1904 and 1931, under which American officials took over management of Latin American fiscal institutions. We develop a stylized model in which better monitoring by incorruptible managers does not lead to higher government revenues. Using a new panel of data on fiscal revenues and the volume and terms of trade, we find that revenue fell under receiverships. Our results hold under instrumental variables estimation and with counterfactual specifications using synthetic controls.
study  economics  broad-econ  political-econ  growth-econ  polisci  government  monetary-fiscal  money  europe  the-great-west-whale  germanic  mediterranean  usa  latin-america  conquest-empire  corruption  integrity  n-factor  management  history  mostly-modern  pre-ww2  models  analogy  track-record  endo-exo  counterfactual  cliometrics  micro  endogenous-exogenous 
september 2017 by nhaliday
Culture, Ethnicity, and Diversity - American Economic Association
We investigate the empirical relationship between ethnicity and culture, defined as a vector of traits reflecting norms, values, and attitudes. Using survey data for 76 countries, we find that ethnic identity is a significant predictor of cultural values, yet that within-group variation in culture trumps between-group variation. Thus, in contrast to a commonly held view, ethnic and cultural diversity are unrelated. Although only a small portion of a country’s overall cultural heterogeneity occurs between groups, we find that various political economy outcomes (such as civil conflict and public goods provision) worsen when there is greater overlap between ethnicity and culture. (JEL D74, H41, J15, O15, O17, Z13)

definition of chi-squared index, etc., under:
II. Measuring Heterogeneity

Table 5—Incidence of Civil Conflict and Diversity
Table 6—Public Goods Provision and Diversity

https://twitter.com/GarettJones/status/924002043576115202
https://archive.is/oqMnC
https://archive.is/sBqqo
https://archive.is/1AcXn
χ2 diversity: raising the risk of civil war. Desmet, Ortuño-Ortín, Wacziarg, in the American Economic Review (1/N)

What predicts higher χ2 diversity? The authors tell us that, too. Here are all of the variables that have a correlation > 0.4: (7/N)

one of them is UK legal origin...

online appendix (with maps, Figures B1-3): http://www.anderson.ucla.edu/faculty_pages/romain.wacziarg/downloads/2017_culture_appendix.pdf
study  economics  growth-econ  broad-econ  world  developing-world  race  diversity  putnam-like  culture  cultural-dynamics  entropy-like  metrics  within-group  anthropology  microfoundations  political-econ  🎩  🌞  pdf  piracy  public-goodish  general-survey  cohesion  ethnocentrism  tribalism  behavioral-econ  sociology  cooperate-defect  homo-hetero  revolution  war  stylized-facts  econometrics  group-level  variance-components  multi  twitter  social  commentary  spearhead  econotariat  garett-jones  backup  summary  maps  data  visualization  correlation  values  poll  composition-decomposition  concept  conceptual-vocab  definition  intricacy  nonlinearity  anglosphere  regression  law  roots  within-without 
september 2017 by nhaliday
A cross-country empirical test of cognitive abilities and innovation nexus - Munich Personal RePEc Archive
In this study we analyze the relationship between national cognitive abilities and innovational output using data from 124 countries of the world. By employing cross-country IQ scores traditionally used by psychological literature to represent national intelligence, and Economic Complexity Index as a novel measure of innovation, our study shows that there is a positive connection between them. We use a variety of tests to check the robustness of the nexus. Overall, our findings indicate that more intelligent nations export more sophisticated and diverse products to the world market and thus are more innovative. Therefore, developing countries should consider investing in human capital and related institutions if they are to boost innovative capabilities and move up the technology ladder in producing and exporting sophisticated and varied lines of products. This should bring them greater economic diversity which could be a right lever in mitigating negative external shocks.
study  economics  broad-econ  psychology  cog-psych  growth-econ  wealth-of-nations  innovation  pop-diff  rindermann-thompson  diversity  human-capital  hive-mind  iq  correlation  entropy-like  wealth  the-world-is-just-atoms  🎩  econ-metrics  econometrics  world  group-level  spearhead  macro  stylized-facts  behavioral-econ  biophysical-econ  microfoundations  🌞  hari-seldon 
september 2017 by nhaliday
Ideas were not enough | Aeon
- Mark Koyama
some funny art here: https://en.wikipedia.org/wiki/Catholic_League_(French)
The Difficulty of Ruling over a Diverse Nation (1578): https://publicdomainreview.org/collections/the-difficulty-of-ruling-over-a-diverse-nation-1578/
16th-century Dutch engraving depicting a fantastical animal with the heads of various other animals sprouting from its body: an allegory for the difficulty of ruling over a diverse nation. In the background, watching on, can be seen a small mob or leaders, both secular and religious. This work by Antwerp-based artist Pieter van der Borcht the Elder, with its image of a confused and troubled body politic, is perhaps just as relevant now as it was then.
news  org:mag  org:popup  econotariat  broad-econ  essay  history  early-modern  politics  polisci  political-econ  government  leviathan  religion  theos  europe  the-great-west-whale  values  social-norms  civil-liberty  exit-voice  philosophy  big-peeps  institutions  people  roots  law  taxes  antidemos  military  diversity  putnam-like  art  medieval  classic  cynicism-idealism  realness  multi  wiki  gallic  protestant-catholic  egalitarianism-hierarchy  elite  class  class-warfare  technocracy  discrimination  judaism  society  civic  economics  growth-econ  open-closed  n-factor  article  prejudice  organizing  feudal  pseudoE 
september 2017 by nhaliday
The Long-Run Weight of Communism or the Weight of LongRun History?
This study provides evidence that culture understood as values and beliefs moves very slowly. Despite massive institutional change, values and beliefs in transition countries have not changed much over the last 20 years. Evidence suggests that culture is affected by the long run historical past, in particular the participation in empires for over 100 years. Current institutional evolutions in transition countries might be more affected by their long run past than by the communist experience of the twentieth century
pdf  study  economics  growth-econ  broad-econ  cliometrics  path-dependence  wealth-of-nations  divergence  history  mostly-modern  communism  authoritarianism  political-econ  institutions  eastern-europe  russia  long-short-run  culture  cultural-dynamics  🎩  values  general-survey  nationalism-globalism  competition  individualism-collectivism  gender  labor  democracy  expert  antidemos  capitalism  microfoundations  expert-experience  roots  top-n  branches  intel  china  asia  sinosphere  orient  technocracy  europe  germanic  agriculture  heavy-industry  pre-ww2  urban-rural  EU  trust  conquest-empire  empirical  markets  usa  migration  tribalism  us-them  convergence  enlightenment-renaissance-restoration-reformation  confucian  comparison  flux-stasis  hari-seldon 
august 2017 by nhaliday
Population Growth and Technological Change: One Million B.C. to 1990
The nonrivalry of technology, as modeled in the endogenous growth literature, implies that high population spurs technological change. This paper constructs and empirically tests a model of long-run world population growth combining this implication with the Malthusian assumption that technology limits population. The model predicts that over most of history, the growth rate of population will be proportional to its level. Empirical tests support this prediction and show that historically, among societies with no possibility for technological contact, those with larger initial populations have had faster technological change and population growth.

Table I gives the gist (population growth rate scales w/ tech innovation). Note how the Mongol invasions + reverberations stand out.

https://jasoncollins.org/2011/08/15/more-people-more-ideas-in-the-long-run/
pdf  study  economics  growth-econ  broad-econ  cliometrics  anthropology  cjones-like  population  demographics  scale  innovation  technology  ideas  deep-materialism  stylized-facts  correlation  speed  flux-stasis  history  antiquity  iron-age  medieval  early-modern  mostly-modern  piracy  garett-jones  spearhead  big-picture  density  iteration-recursion  magnitude  econotariat  multi  commentary  summary  🎩  path-dependence  pop-diff  malthus  time-series  data  world  microfoundations  hari-seldon  conquest-empire  disease  parasites-microbiome  spreading  gavisti  asia  war  death  nihil  trends 
august 2017 by nhaliday
From Soviets to Oligarchs: Inequality and Property in Russia 1905-2016
We find that official survey-based measures vastly under-estimate the rise of inequality since 1990. According to our benchmark estimates, top income shares are now similar to (or higher than) the levels observed in the United States. We also find that inequality has increased substantially more in Russia than in China and other ex-communist countries in Eastern Europe. We relate this finding to the specific transition strategy followed in Russia. According to our benchmark estimates, the wealth held offshore by rich Russians is about three times larger than official net foreign reserves, and is comparable in magnitude to total household financial assets held in Russia.

Figure 1a, 8abc, 9b

The Role of Oligarchs in Russian Capitalism: https://www.aeaweb.org/articles?id=10.1257/0895330053147994
2005

Using a unique dataset, we describe the degree of ownership concentration in Russian economy and its role in shaping economic and political institutions in Russia. In particular, we find that Russian "oligarchs" do control a substantial part of the economy. While the relative weight of their firms in Russian economy is huge, they do not seem to be excessively large by the standards of the global economy where most of them are operating. The oligarchs seem to run their firms more efficiently than other Russian owners controlling for industry, region and size.

Russia's Billionaires: https://www.aeaweb.org/articles?id=10.1257/aer.p20161068
2016

Using data collected by Forbes since the 1990s, I examine the emergence and survival of the super-wealthy in Russia over the past two decades and compare Russia's record to those of other countries. The major surge in the number of Russian billionaires came in the mid-2000s, mirroring the dynamic worldwide. While early billionaires were predominantly found in the oil, gas, metals, and banking sectors, the distribution has become more diverse, now including some in trade, real estate, chemicals, and information technology. Only a minority of today's Russian billionaires acquired significant assets in the privatization of the 1990s.

Popular Attitudes towards Markets and Democracy: Russia and United States Compared 25 Years Later: http://www.nber.org/papers/w22027

While we find some differences in attitudes towards markets across countries and through time, we do not find most of the differences large or significant. Our evidence does not support a common view that the Russian personality is fundamentally illiberal or non-democratic.

The Political Economy of Transition: https://www.aeaweb.org/articles?id=10.1257/0895330027102
- Gérard Roland, 2002

The overriding importance of political constraints in the transition process has led to developments of the theory of the political economy of reform. What are the main insights from that theory? How does it reflect the transition reality? What have we learned, and what do we still need to learn? The present article will attempt to answer those questions.

https://themoscowtimes.com/articles/centrifugal-forces-why-russian-oligarchs-remain-loyal-to-the-putin-government-op-ed-59760
pdf  study  economics  broad-econ  history  mostly-modern  pre-ww2  cold-war  russia  communism  authoritarianism  inequality  data  class  econ-metrics  wealth  compensation  money  usa  china  asia  capitalism  visualization  elite  vampire-squid  time-series  distribution  piketty  multi  chart  heavy-industry  nationalism-globalism  flux-stasis  🎩  political-econ  polisci  winner-take-all  poll  values  democracy  institutions  industrial-org  property-rights  efficiency  energy-resources  roots  corruption  group-level  market-power  rent-seeking  regression-to-mean  legacy  anomie  quality  econ-productivity  leviathan  technocracy  civic  madisonian  redistribution  world  growth-econ  developing-world  markets  news  org:foreign 
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._
study  economics  growth-econ  broad-econ  trust  cohesion  cooperate-defect  n-factor  phalanges  things  industrial-org  business  management  institutions  civic  social-capital  scale  religion  theos  world  putnam-like  government  leviathan  diversity  corruption  technocracy  efficiency  society  sociology  anthropology  cultural-dynamics  network-structure  social-norms  social-structure  🎩  multi  investing  venture  finance  europe  EU  nationalism-globalism  endo-exo  natural-experiment  general-survey  taxes  redistribution  securities  larry-summers  labor  gnon  usa  data  analysis  poll  values  morality  ethics  mediterranean  britain  the-great-west-whale  patho-altruism  free-riding  slippery-slope  equilibrium  integrity  anglosphere  big-peeps  quotes  isteveish  commentary  optimate  truth  law  order-disorder  old-anglo  formal-values  pop-diff  identity-politics  pre-ww2  public-goodish  class-warfare  alien-character  chart  contracts  axelrod  models  coordination  honor  organizing  endogenous-exogenous  speaking  statesme 
august 2017 by nhaliday
The Determinants of Trust
Both individual experiences and community characteristics influence how much people trust each other. Using data drawn from US localities we find that the strongest factors that reduce trust are: i) a recent history of traumatic experiences, even though the passage of time reduces this effect fairly rapidly; ii) belonging to a group that historically felt discriminated against, such as minorities (black in particular) and, to a lesser extent, women; iii) being economically unsuccessful in terms of income and education; iv) living in a racially mixed community and/or in one with a high degree of income disparity. Religious beliefs and ethnic origins do not significantly affect trust. The latter result may be an indication that the American melting pot at least up to a point works, in terms of homogenizing attitudes of different cultures, even though racial cleavages leading to low trust are still quite high.

Understanding Trust: http://www.nber.org/papers/w13387
In this paper we resolve this puzzle by recognizing that trust has two components: a belief-based one and a preference based one. While the sender's behavior reflects both, we show that WVS-like measures capture mostly the belief-based component, while questions on past trusting behavior are better at capturing the preference component of trust.

MEASURING TRUST: http://scholar.harvard.edu/files/laibson/files/measuring_trust.pdf
We combine two experiments and a survey to measure trust and trustworthiness— two key components of social capital. Standard attitudinal survey questions about trust predict trustworthy behavior in our experiments much better than they predict trusting behavior. Trusting behavior in the experiments is predicted by past trusting behavior outside of the experiments. When individuals are closer socially, both trust and trustworthiness rise. Trustworthiness declines when partners are of different races or nationalities. High status individuals are able to elicit more trustworthiness in others.

What is Social Capital? The Determinants of Trust and Trustworthiness: http://www.nber.org/papers/w7216
Using a sample of Harvard undergraduates, we analyze trust and social capital in two experiments. Trusting behavior and trustworthiness rise with social connection; differences in race and nationality reduce the level of trustworthiness. Certain individuals appear to be persistently more trusting, but these people do not say they are more trusting in surveys. Survey questions about trust predict trustworthiness not trust. Only children are less trustworthy. People behave in a more trustworthy manner towards higher status individuals, and therefore status increases earnings in the experiment. As such, high status persons can be said to have more social capital.

Trust and Cheating: http://www.nber.org/papers/w18509
We find that: i) both parties to a trust exchange have implicit notions of what constitutes cheating even in a context without promises or messages; ii) these notions are not unique - the vast majority of senders would feel cheated by a negative return on their trust/investment, whereas a sizable minority defines cheating according to an equal split rule; iii) these implicit notions affect the behavior of both sides to the exchange in terms of whether to trust or cheat and to what extent. Finally, we show that individual's notions of what constitutes cheating can be traced back to two classes of values instilled by parents: cooperative and competitive. The first class of values tends to soften the notion while the other tightens it.

Nationalism and Ethnic-Based Trust: Evidence from an African Border Region: https://u.osu.edu/robinson.1012/files/2015/12/Robinson_NationalismTrust-1q3q9u1.pdf
These results offer microlevel evidence that a strong and salient national identity can diminish ethnic barriers to trust in diverse societies.

One Team, One Nation: Football, Ethnic Identity, and Conflict in Africa: http://conference.nber.org/confer//2017/SI2017/DEV/Durante_Depetris-Chauvin.pdf
Do collective experiences that prime sentiments of national unity reduce interethnic tensions and conflict? We examine this question by looking at the impact of national football teams’ victories in sub-Saharan Africa. Combining individual survey data with information on over 70 official matches played between 2000 and 2015, we find that individuals interviewed in the days after a victory of their country’s national team are less likely to report a strong sense of ethnic identity and more likely to trust people of other ethnicities than those interviewed just before. The effect is sizable and robust and is not explained by generic euphoria or optimism. Crucially, national victories do not only affect attitudes but also reduce violence. Indeed, using plausibly exogenous variation from close qualifications to the Africa Cup of Nations, we find that countries that (barely) qualified experience significantly less conflict in the following six months than countries that (barely) did not. Our findings indicate that, even where ethnic tensions have deep historical roots, patriotic shocks can reduce inter-ethnic tensions and have a tangible impact on conflict.

Why Does Ethnic Diversity Undermine Public Goods Provision?: http://www.columbia.edu/~mh2245/papers1/HHPW.pdf
We identify three families of mechanisms that link diversity to public goods provision—–what we term “preferences,” “technology,” and “strategy selection” mechanisms—–and run a series of experimental games that permit us to compare the explanatory power of distinct mechanisms within each of these three families. Results from games conducted with a random sample of 300 subjects from a slum neighborhood of Kampala, Uganda, suggest that successful public goods provision in homogenous ethnic communities can be attributed to a strategy selection mechanism: in similar settings, co-ethnics play cooperative equilibria, whereas non-co-ethnics do not. In addition, we find evidence for a technology mechanism: co-ethnics are more closely linked on social networks and thus plausibly better able to support cooperation through the threat of social sanction. We find no evidence for prominent preference mechanisms that emphasize the commonality of tastes within ethnic groups or a greater degree of altruism toward co-ethnics, and only weak evidence for technology mechanisms that focus on the impact of shared ethnicity on the productivity of teams.

does it generalize to first world?

Higher Intelligence Groups Have Higher Cooperation Rates in the Repeated Prisoner's Dilemma: https://ideas.repec.org/p/iza/izadps/dp8499.html
The initial cooperation rates are similar, it increases in the groups with higher intelligence to reach almost full cooperation, while declining in the groups with lower intelligence. The difference is produced by the cumulation of small but persistent differences in the response to past cooperation of the partner. In higher intelligence subjects, cooperation after the initial stages is immediate and becomes the default mode, defection instead requires more time. For lower intelligence groups this difference is absent. Cooperation of higher intelligence subjects is payoff sensitive, thus not automatic: in a treatment with lower continuation probability there is no difference between different intelligence groups

Why societies cooperate: https://voxeu.org/article/why-societies-cooperate
Three attributes are often suggested to generate cooperative behaviour – a good heart, good norms, and intelligence. This column reports the results of a laboratory experiment in which groups of players benefited from learning to cooperate. It finds overwhelming support for the idea that intelligence is the primary condition for a socially cohesive, cooperative society. Warm feelings towards others and good norms have only a small and transitory effect.

individual payoff, etc.:

Trust, Values and False Consensus: http://www.nber.org/papers/w18460
Trust beliefs are heterogeneous across individuals and, at the same time, persistent across generations. We investigate one mechanism yielding these dual patterns: false consensus. In the context of a trust game experiment, we show that individuals extrapolate from their own type when forming trust beliefs about the same pool of potential partners - i.e., more (less) trustworthy individuals form more optimistic (pessimistic) trust beliefs - and that this tendency continues to color trust beliefs after several rounds of game-play. Moreover, we show that one's own type/trustworthiness can be traced back to the values parents transmit to their children during their upbringing. In a second closely-related experiment, we show the economic impact of mis-calibrated trust beliefs stemming from false consensus. Miscalibrated beliefs lower participants' experimental trust game earnings by about 20 percent on average.

The Right Amount of Trust: http://www.nber.org/papers/w15344
We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs. Our interpretation is that highly trusting individuals tend to assume too much social risk and to be cheated more often, ultimately performing less well than those with a belief close to the mean trustworthiness of the population. On the other hand, individuals with overly pessimistic beliefs avoid being cheated, but give up profitable opportunities, therefore underperforming. The cost of either too much or too little trust is comparable to the income lost by forgoing college.

...

This framework allows us to show that income-maximizing trust typically exceeds the trust level of the average person as well as to estimate the distribution of income lost to trust mistakes. We find that although a majority of individuals has well calibrated beliefs, a non-trivial proportion of the population (10%) has trust beliefs sufficiently poorly calibrated to lower income by more than 13%.

Do Trust and … [more]
study  economics  alesina  growth-econ  broad-econ  trust  cohesion  social-capital  religion  demographics  race  diversity  putnam-like  compensation  class  education  roots  phalanges  general-survey  multi  usa  GT-101  conceptual-vocab  concept  behavioral-econ  intricacy  composition-decomposition  values  descriptive  correlation  harvard  field-study  migration  poll  status  🎩  🌞  chart  anthropology  cultural-dynamics  psychology  social-psych  sociology  cooperate-defect  justice  egalitarianism-hierarchy  inequality  envy  n-factor  axelrod  pdf  microfoundations  nationalism-globalism  africa  intervention  counter-revolution  tribalism  culture  society  ethnocentrism  coordination  world  developing-world  innovation  econ-productivity  government  stylized-facts  madisonian  wealth-of-nations  identity-politics  public-goodish  s:*  legacy  things  optimization  curvature  s-factor  success  homo-hetero  higher-ed  models  empirical  contracts  human-capital  natural-experiment  endo-exo  data  scale  trade  markets  time  supply-demand  summary 
august 2017 by nhaliday
Muscle, steam and combustion
Vaclav Smil’s Energy and Civilization is a monumental history of how humanity has harnessed muscle, steam and combustion to build palaces and skyscrapers, light the night and land on the Moon. Want to learn about the number of labourers needed to build Egypt’s pyramids of Giza, or US inventor Thomas Edison’s battles with Nikola Tesla and George Westinghouse to electrify homes and cities, or the upscaling of power stations and blast furnaces in the twentieth century? Look no further.
pdf  books  review  vaclav-smil  pseudoE  deep-materialism  energy-resources  biophysical-econ  the-world-is-just-atoms  big-picture  history  antiquity  iron-age  medieval  early-modern  farmers-and-foragers  civilization  technology  industrial-revolution  heavy-industry  🔬  phys-energy  the-bones  environment  scale  economics  growth-econ  broad-econ  efficiency  chart  dirty-hands  fluid  input-output 
august 2017 by nhaliday
Scanners Live in Vain | West Hunter
Of course, finding that the pattern already exists at the age of one month seriously weakens any idea that being poor shrinks the brain: most of the environmental effects you would consider haven’t even come into play in the first four weeks, when babies drink milk, sleep, and poop. Genetics affecting both parents and their children would make more sense, if the pattern shows up so early (and I’ll bet money that, if real,  it shows up well before one month);  but Martha Farah, and the reporter from Nature, Sara Reardon, ARE TOO FUCKING DUMB to realize this.

https://westhunt.wordpress.com/2015/03/31/scanners-live-in-vain/#comment-93791Correlation between brain volume and IQ is about 0.4 . Shows up clearly in studies with sufficient power.

“poverty affects prenatal environment a lot.” No it does not. “poverty” in this country means having plenty to eat.

The Great IQ Depression: https://westhunt.wordpress.com/2014/03/07/the-great-iq-depression/
We hear that poverty can sap brainpower, reduce frontal lobe function, induce the fantods, etc. But exactly what do we mean by ‘poverty’? If we’re talking about an absolute, rather than relative, standard of living, most of the world today must be in poverty, as well as almost everyone who lived much before the present. Most Chinese are poorer than the official US poverty level, right? The US had fairly rapid economic growth until the last generation or so, so if you go very far back in time, almost everyone was poor, by modern standards. Even those who were considered rich at the time suffered from zero prenatal care, largely useless medicine, tabletless high schools, and slow Internet connections. They had to ride horses that had lousy acceleration and pooped all over the place.

In particular, if all this poverty-gives-you-emerods stuff is true, scholastic achievement should have collapsed in the Great Depression – and with the miracle of epigenetics, most of us should still be suffering those bad effects.

But somehow none of this seems to have gone through the formality of actually happening.
west-hunter  scitariat  commentary  study  org:nat  summary  rant  critique  neuro  neuro-nitgrit  brain-scan  iq  class  correlation  compensation  pop-diff  biodet  behavioral-gen  westminster  experiment  attaq  measure  multi  discussion  ideas  history  early-modern  pre-ww2  usa  gedanken  analogy  comparison  time  china  asia  world  developing-world  economics  growth-econ  medicine  healthcare  epigenetics  troll  aphorism  cycles  obesity  poast  nutrition  hypochondria  explanans 
august 2017 by nhaliday
Clans, Guilds, and Markets: Apprenticeship Institutions and Growth in the Pre-Industrial Economy* | The Quarterly Journal of Economics | Oxford Academic
We argue that medieval European institutions such as guilds, and specific features such as journeymanship, can explain the rise of Europe relative to regions that relied on the transmission of knowledge within closed kinship systems (extended families or clans).
study  economics  growth-econ  broad-econ  history  medieval  europe  the-great-west-whale  occident  n-factor  kinship  coordination  institutions  wealth-of-nations  divergence  roots  technology  learning  spreading  network-structure  pdf  piracy  organizing  open-closed  microfoundations  feudal  explanans  orient  hari-seldon 
july 2017 by nhaliday
Inherited Trust and Growth - American Economic Association
This paper develops a new method to uncover the causal effect of trust on economic growth by focusing on the inherited component of trust and its time variation. We show that inherited trust of descendants of US immigrants is significantly influenced by the country of origin and the timing of arrival of their forebears. We thus use the inherited trust of descendants of US immigrants as a time-varying measure of inherited trust in their country of origin. This strategy allows to identify the sizeable causal impact of inherited trust on worldwide growth during the twentieth century by controlling for country fixed effects. (JEL N11, N12, N31, N32, O47, Z13)

key data:
Table 1, Figure 1, Figure 3, Figure 4

Trust Assimilation in the United States, Bryan Caplan: http://econlog.econlib.org/archives/2017/05/trust_assimilat.html

How Durable are Social Norms? Immigrant Trust and Generosity in 132 Countries: http://www.nber.org/papers/w19855
We find that migrants tend to make social trust assessments that mainly reflect conditions in the country where they now live, but they also reveal a significant influence from their countries of origin. The latter effect is one-third as important as the effect of local conditions. We also find that the altruistic behavior of migrants, as measured by the frequency of their donations in their new countries, is strongly determined by social norms in their new countries, while also retaining some effect of the levels of generosity found in their birth countries. To show that the durability of social norms is not simply due to a failure to recognize new circumstances, we demonstrate that there are no footprint effects for immigrants’ confidence in political institutions. Taken together, these findings support the notion that social norms are deeply rooted in long-standing cultures, yet are nonetheless subject to adaptation when there are major changes in the surrounding circumstances and environment.

The autocratic roots of social distrust: http://sci-hub.tw/https://www.sciencedirect.com/science/article/pii/S0147596717300951
This paper identifies a new source of social distrust: an individual’s autocratic
origin.
 Individuals whose ancestors migrated from countries with higher autocracy
levels are less likely to trust others and to vote in presidential elections in the
U.S.
 The impact of autocratic culture on trust lasts for at least three generations
whereas the impact on voting disappears after one generation.
 The results are not driven by selection into migration or other factors such as the
GDP, education, or the strength of family ties in home countries in the U.S.
 Autocratic culture also has similar impacts on trust and voting across Europe.
study  economics  growth-econ  broad-econ  cultural-dynamics  anthropology  trust  cohesion  social-capital  causation  endo-exo  natural-experiment  history  early-modern  pre-ww2  mostly-modern  migration  usa  🎩  pdf  piracy  putnam-like  social-norms  s:*  cliometrics  econometrics  civic  culture  microfoundations  europe  nordic  mediterranean  germanic  regression  the-great-west-whale  occident  n-factor  africa  latin-america  divergence  britain  anglo  anglosphere  gallic  EU  india  asia  outliers  data  variance-components  correlation  path-dependence  general-survey  cooperate-defect  econ-metrics  macro  multi  charity  altruism  flux-stasis  volo-avolo  econotariat  cracker-econ  org:econlib  rhetoric  assimilation  analysis  axelrod  attaq  endogenous-exogenous  branches  authoritarianism  antidemos  age-generation  elections  polisci  political-econ  hari-seldon  alignment  time 
july 2017 by nhaliday
Does European development have Roman roots? Evidence from the German Limes
The results indicate that economic development—as mea-sured by luminosity—is indeed significantly and robustly larger in the formerly Roman part of Germany. The study identifies the persistence of the Roman road network until the present an important factor causing this developmental advantage of the formerly Roman part ofGermany both by fostering city growth and by allowing for a denser road network.

https://twitter.com/GarettJones/status/888521595416793089
https://archive.is/ozKku
CC: @GarettJones this puts a new spin on deep history! Hard to explain...
I've got a theory, have a partial model but need some time to formalize it. I've called it the Radio Brain Hypothesis...
pdf  study  economics  growth-econ  cliometrics  broad-econ  history  iron-age  medieval  mostly-modern  europe  germanic  path-dependence  divergence  shift  transportation  network-structure  urban  pseudoE  within-group  wealth-of-nations  natural-experiment  microfoundations  mediterranean  the-classics  conquest-empire  the-great-west-whale  geography  infrastructure  multi  twitter  social  commentary  backup  spearhead  econotariat  garett-jones  aphorism  ideas  branches  urban-rural  hari-seldon 
july 2017 by nhaliday
On the measuring and mis-measuring of Chinese growth | VOX, CEPR’s Policy Portal
Unofficial indicators of Chinese GDP often suggest that Beijing’s growth figures are exaggerated. This column uses nighttime light as a proxy to estimate Chinese GDP growth. Since 2012, the authors’ estimate is never appreciably lower, and is in many years higher, than the GDP growth rate reported in the official statistics. While not ruling out the risk of future turmoil, the analysis presents few immediate indications that Chinese growth is being systematically overestimated.

https://asia.nikkei.com/magazine/20170831/Politics-Economy/Chinese-provinces-heed-Xi-s-calls-for-accurate-GDP-data
org:ngo  econotariat  study  summary  economics  growth-econ  econometrics  econ-metrics  measurement  broad-econ  china  asia  sinosphere  the-world-is-just-atoms  energy-resources  trends  correlation  wonkish  realness  article  multi  news  org:foreign  n-factor  corruption  crooked  wealth  visuo  electromag  sky  space 
july 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.
pdf  study  economics  growth-econ  econometrics  usa  data  empirical  analysis  labor  capital  econ-productivity  manifolds  magnitude  multi  world  🎩  piketty  econotariat  compensation  inequality  winner-take-all  org:ngo  org:davos  flexibility  distribution  stylized-facts  regularizer  hmm  history  mostly-modern  property-rights  arrows  invariance  industrial-org  trends  wonkish  roots  synthesis  market-power  efficiency  variance-components  business  database  org:gov  article  model-class  models  automation  nationalism-globalism  trade  news  org:mag  org:biz  org:bv  noahpinion  explanation  summary  methodology  density  polarization  map-territory  input-output 
july 2017 by nhaliday
Seven charts that show how the developed world is losing its edge
Savings China’s gross savings (at market exchange rates) are nearly as large as those of the US and EU combined. China saves almost half of its national income. This extraordinarily high share is likely to fall but that decline is set to be gradual, since Chinese households are likely to remain frugal and the share of profits in national income is likely to remain high.

80% of the US had no real increase in income 2005 to 2012-2014

Time to worry about the American consumer?: https://ftalphaville.ft.com/2017/08/03/2192172/time-to-worry-about-the-american-consumer/
Two basic ways to spend more money: you can earn more and save the same, or you can earn the same and save less. Newly revised data from the Bureau of Economic Analysis show that American consumers have spent the past two years embracing option 2. The average American now saves about 35 per cent less than in 2015:

...

Not since the beginning of 2008 have Americans saved so little — and that’s before accounting for inflation. It could be a sign of trouble ahead.

https://twitter.com/menangahela/status/956993883556208641
https://archive.is/HKov7
this seems not good

China's Financial Debt: Everything You Know Is Wrong: http://www.unz.com/article/chinas-financial-debt-everything-you-know-is-wrong/
As China Piles on Debt, Consumers Seek a Piece of the Action: https://www.nytimes.com/2017/09/25/business/china-debt-consumers.html
news  org:rec  org:anglo  org:biz  data  analysis  visualization  let-me-see  world  developing-world  china  asia  sinosphere  convergence  europe  usa  the-great-west-whale  economics  growth-econ  econ-metrics  econ-productivity  stagnation  populism  wealth-of-nations  wealth  time-preference  temperance  demographics  population  internet  compensation  britain  germanic  gallic  nordic  mediterranean  EU  patience  multi  contrarianism  malaise  rot  great-powers  debt  monetary-fiscal  time-series  twitter  social  commentary  gnon  mena4  🐸  backup  pic 
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
study  economics  broad-econ  growth-econ  econometrics  field-study  india  asia  pseudoE  management  industrial-org  cultural-dynamics  institutions  trust  intervention  coordination  cohesion  n-factor  kinship  orient  multi  twitter  social  commentary  econotariat  spearhead  wealth-of-nations  pop-diff  pdf  scale  gender  leviathan  econ-productivity  marginal-rev  world  developing-world  comparison  usa  business  network-structure  labor  social-structure  lived-experience  entrepreneurialism  hmm  microfoundations  culture  corruption  anomie  crooked  human-capital  technocracy  government  data  crime  criminology  north-weingast-like  news  org:rec  org:biz  org:anglo  politics  populism  incentives  transportation  society  GT-101  integrity  🎩  endo-exo  cooperate-defect  ethics  attaq  selection  europe  the-great-west-whale  germanic  correlation  altruism  outcome-risk  uncertainty  impetus  longitudinal  civic  public-goodish  organizing  endogenous-exogenous 
july 2017 by nhaliday
Corrupting cooperation and how anti-corruption strategies may backfire | Nature Human Behaviour
https://images.nature.com/original/nature-assets/nathumbehav/2017/s41562-017-0138/extref/s41562-017-0138-s1.pdf
Exposure to Norms: https://images.nature.com/original/nature-assets/nathumbehav/2017/s41562-017-0138/extref/s41562-017-0138-s1.pdf#page=114
Here we test how exposure to corruption norms affect behavior in our game. We do so by using our exposure score (a mean of the corruption perceptions of the countries the participant has lived in) and the heritage corruption score (a mean of the corruption perceptions of the countries the participant has an ethnic heritage). Since there is no incentive to offer bribes or contribute, except when compelled to do so by punishment, we predict that exposure to norms should primarily affect Leader decisions. Nonetheless, internalized norms may also affect the behavior of players in contributing and bribing.

...

The correlation between the direct exposure and heritage measures of corruption is r = 0.67, p < .001.

...

Then we see that direct exposure to corruption norms results in increased corrupt behavior—i.e. in our Canadian sample, those who have lived in corrupt countries from which they do not derive their heritage behave in more corrupt ways.

hard to interpret

https://twitter.com/Evolving_Moloch/status/884477414100697092
http://psych.ubc.ca/when-less-is-best/

I don't think the solution is to just do nothing. Should look to history for ideas; process of "getting to Denmark" took centuries in NW Euro. Try to replicate and don't expect fast results.

Trust and Bribery: The Role of the Quid Pro Quo and the Link with Crime: http://www.nber.org/papers/w10510
I study data on bribes actually paid by individuals to public officials, viewing the results through a theoretical lens that considers the implications of trust networks. A bond of trust may permit an implicit quid pro quo to substitute for a bribe, which reduces corruption. Appropriate networks are more easily established in small towns, by long-term residents of areas with many other long-term residents, and by individuals in regions with many residents their own age. I confirm that the prevalence of bribery is lower under these circumstances, using the International Crime Victim Surveys. I also find that older people, who have had time to develop a network, bribe less. These results highlight the uphill nature of the battle against corruption faced by policy-makers in rapidly urbanizing countries with high fertility. I show that victims of (other) crimes bribe all types of public officials more than non-victims, and argue that both their victimization and bribery stem from a distrustful environment.

Kinship, Fractionalization and Corruption: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2847222
The theory of kin selection provides a straightforward justification for norms of nepotism and favoritism among relatives; more subtly, it also implies that the returns to such norms may be influenced by mating practices. Specifically, in societies with high levels of sub-ethnic fractionalization, where endogamous (and consanguineous) mating within kin-group, clan and tribe increases the local relatedness of individuals, the relative returns to norms of nepotism and favoritism are high. In societies with exogamous marriage practices, the relative returns to norms of impartial cooperation with non-relatives and strangers are increased. Using cross-country and within-country regression analyses and a cross-country lab experiment, we provide evidence for this account.

Ethnic favouritism: Not just an African phenomenon: http://voxeu.org/article/ethnic-favouritism-not-just-african-phenomenon
Ethnic favouritism is a global phenomenon
We find robust evidence for ethnic favouritism – ethnographic regions that are the current political leader’s ethnic homeland enjoy 7%-10% more intense night-time light, corresponding to 2%-3% higher regional GDP. Furthermore, we show that ethnic favouritism extends to ethnic groups that are linguistically close to the political leader.

Most significantly, these effects are as strong outside of Africa as they are within, challenging the preconception that ethnic favouritism is mainly or even entirely a sub-Saharan African phenomenon. For example, Bolivian presidents tended to favour areas populated by European descendants and Criollos, largely at the expense of the indigenous population. After the election of Evo Morales, a member of the indigenous Ayamara ethnic group, luminosity in indigenous areas grew substantially. Notably, critics suggest Morales gave special attention to the interests and values of the Ayamara at the expense of other indigenous peoples (e.g. Albro 2010, Postero 2010).

Democratisation is not a panacea
Our results further suggest that, while democratic institutions have a weak tendency to reduce ethnic favouritism, their effect is limited. In particular, a change from autocratic regimes to weak democracies does not seem to reduce ethnic favouritism (and may even increase it).

This result could in part be explained by political leaders’ motivations for engaging in ethnic favouritism. We find that the practice intensifies around election years in which the political leader's office is contested, suggesting that leaders may target policies towards their ethnic homelands to improve their re-election prospects, and not solely out of co-ethnic altruism. To the extent that political leaders engage in ethnic favouritism for electoral purposes, democratisation is not likely to be effective in curbing the practice.

Facebook’s war on free will: https://www.theguardian.com/technology/2017/sep/19/facebooks-war-on-free-will
Though Facebook will occasionally talk about the transparency of governments and corporations, what it really wants to advance is the transparency of individuals – or what it has called, at various moments, “radical transparency” or “ultimate transparency”. The theory holds that the sunshine of sharing our intimate details will disinfect the moral mess of our lives. With the looming threat that our embarrassing information will be broadcast, we’ll behave better. And perhaps the ubiquity of incriminating photos and damning revelations will prod us to become more tolerant of one another’s sins. “The days of you having a different image for your work friends or co-workers and for the other people you know are probably coming to an end pretty quickly,” Zuckerberg has said. “Having two identities for yourself is an example of a lack of integrity.”

The point is that Facebook has a strong, paternalistic view on what’s best for you, and it’s trying to transport you there. “To get people to this point where there’s more openness – that’s a big challenge. But I think we’ll do it,” Zuckerberg has said. He has reason to believe that he will achieve that goal. With its size, Facebook has amassed outsized powers. “In a lot of ways Facebook is more like a government than a traditional company,” Zuckerberg has said. “We have this large community of people, and more than other technology companies we’re really setting policies.”

Facebook and the Destruction of Private Life: http://www.socialmatter.net/2014/12/30/facebook-and-the-destruction-of-private-life/
- HENRY DAMPIER

The key value of privacy, which tends to be lost amid all the technological babble about the concept, is that it makes social cooperation more feasible among people who disagree, share different tastes, or fundamental points of view.

...

This is especially an issue with democracy. The reason why the United States has anonymous voting laws is because without them, people are persecuted for their party affiliations by people with rival party loyalties. This being forgotten, the age of Facebook and similar technologies has opened up ordinary people to this sort of ordinary political persecution. Moderating influences like that of the respect for privacy put a brake on some of the more rapacious, violent aspects of party politics.

...

The impulse for this comes less from the availability of the technology, and more because of the preexisting social trends. When there is a family life, there is communication and closeness within the family.

With more people living without a family life, they go to the public square to get their needs for social validation met. This doesn’t work so well, because strangers have no skin in the life of the atomized individual that only exists as an image on their screens.
study  org:nat  polisci  sociology  government  corruption  law  leviathan  crooked  world  developing-world  policy  cooperate-defect  free-riding  cultural-dynamics  anthropology  multi  twitter  social  commentary  scitariat  public-goodish  institutions  behavioral-econ  org:sci  summary  n-factor  trust  media  social-norms  spreading  equilibrium  🎩  🌞  broad-econ  GT-101  economics  growth-econ  org:edu  microfoundations  open-closed  leaks  canada  anglo  migration  pdf  polarization  longitudinal  social-capital  network-structure  cohesion  social-structure  axelrod  anomie  tribalism  group-level  kinship  econometrics  field-study  sapiens  stylized-facts  divergence  cliometrics  anglosphere  incentives  biodet  the-great-west-whale  populism  roots  putnam-like  behavioral-gen  sex  chart  wealth-of-nations  political-econ  polanyi-marx  eden  path-dependence  variance-components  correlation  assimilation  ethics  org:ngo  econotariat  africa  ethnocentrism  race  democracy  latin-america  asia  news  org:lite 
july 2017 by nhaliday
A Review of Avner Greif’s Institutions and the Path to the Modern Economy: Lessons from Medieval Trade
Avner Greif’s Institutions and the Path to the Modern Economy: Lessons from Medieval Trade (Cambridge University Press, 2006) is a major work in the ongoing project of many economists and economic historians to show that institutions are the fundamental driver of all economic history, and of all contemporary differences in economic performance. This review outlines the contribution of this book to the project and the general status of this long standing ambition.
pdf  spearhead  gregory-clark  essay  article  books  review  economics  growth-econ  broad-econ  institutions  history  early-modern  europe  the-great-west-whale  divergence  🎩  industrial-revolution  medieval  critique  roots  world  measurement  empirical  realness  cultural-dynamics  north-weingast-like  modernity  microfoundations  aphorism  track-record 
july 2017 by nhaliday
On the effects of inequality on economic growth | Nintil
After the discussion above, what should one think about the relationship between inequality and growth?

For starters, that the consensus of the literature points to our lack of knowledge, and the need to be very careful when studying these phenomena. As of today there is no solid consensus on the effects of inequality on growth. Tentatively, on the grounds of Neves et al.’s meta-analysis, we can conclude that the impact of inequality on developed countries is economically insignificant. This means that one can claim that inequality is good, bad, or neutral for growth as long as the effects claimed are small and one talks about developed countries. For developing countries, the relationships are more negative.

http://squid314.livejournal.com/320672.html
I recently finished The Spirit Level, subtitled "Why More Equal Societies Almost Almost Do Better", although "Five Million Different Scatter Plot Graphs Plus Associated Commentary" would also have worked. It was a pretty thorough manifesto for the best kind of leftism: the type that foregoes ideology and a priori arguments in exchange for a truckload of statistics showing that their proposed social remedies really work.

Inequality: some people know what they want to find: https://www.adamsmith.org/blog/economics/inequality-some-people-know-what-they-want-to-find

Inequality doesn’t matter: a primer: https://www.adamsmith.org/blog/inequality-doesnt-matter-a-primer

Inequality and visibility of wealth in experimental social networks: https://www.nature.com/articles/nature15392
- Akihiro Nishi, Hirokazu Shirado, David G. Rand & Nicholas A. Christakis

We show that wealth visibility facilitates the downstream consequences of initial inequality—in initially more unequal situations, wealth visibility leads to greater inequality than when wealth is invisible. This result reflects a heterogeneous response to visibility in richer versus poorer subjects. We also find that making wealth visible has adverse welfare consequences, yielding lower levels of overall cooperation, inter-connectedness, and wealth. High initial levels of economic inequality alone, however, have relatively few deleterious welfare effects.

https://twitter.com/NAChristakis/status/952315243572719617
https://archive.is/DpyAx
Our own work has shown that the *visibility* of inequality, more then the inequality per se, may be especially corrosive to the social fabric. https://www.nature.com/articles/nature15392 … I wonder if @WalterScheidel historical data sheds light on this idea? end 5/
ratty  unaffiliated  commentary  article  inequality  egalitarianism-hierarchy  economics  macro  growth-econ  causation  meta-analysis  study  summary  links  albion  econotariat  org:ngo  randy-ayndy  nl-and-so-can-you  survey  policy  wonkish  spock  nitty-gritty  evidence-based  s:*  🤖  🎩  world  developing-world  group-level  econ-metrics  chart  gray-econ  endo-exo  multi  yvain  ssc  books  review  critique  contrarianism  sociology  polisci  politics  left-wing  correlation  null-result  race  culture  society  anglosphere  protestant-catholic  regional-scatter-plots  big-picture  compensation  meaningness  cost-benefit  class  mobility  wealth  org:anglo  rhetoric  ideology  envy  money  endogenous-exogenous  org:nat  journos-pundits  anthropology  stylized-facts  open-closed  branches  walter-scheidel  broad-econ  twitter  social  discussion  backup  public-goodish  humility  charity 
june 2017 by nhaliday
Revealing the Economic Consequences of Group Cohesion
A comprehensive program of new experiments reveals the considerable economic impact of cohesion: higher cohesion groups are significantly more likely to achieve Pareto-superior outcomes in classic weak-link coordination games. We show that effects of cohesion are economically large, robust, and portable. We identify social preferences as a primary mechanism explaining the effects of cohesion.

...

Our workhorse to study group outcomes is a weak-link coordination game chosen because it captures economically interesting problems endemic to organizations and teams (e.g., Camerer and Weber (2013)). In our version of the weak-link game, inspired by Brandts and Cooper (2006), group members simultaneously choose an effort level. Payoffs to each group member then depend on their own effort and the lowest effort chosen by anyone (the “weakest link”) in the group. The game has multiple strict Pareto-ranked Nash equilibria in material payoffs. This feature makes it particularly interesting for our purposes because it combines two dimensions of group success: features of coordination (choosing the same effort level as other group members) and cooperation (groups achieving Pareto-superior Nash equilibria). We expected our weak-link game to be a “harsh” environment in the sense that most groups who play this game under anonymity and in the absence of pre-existing social relationships will collapse to the Pareto-worst equilibrium and never escape from it (Brandts and Cooper (2006), and own replication).

As we show in Section V, group cohesion is a key determinant of behavior in our experiments: low cohesion groups usually descend rapidly to minimum effort; high cohesion groups fare much better and high cohesion appears necessary (though not sufficient) for achieving Pareto-superior outcomes. Surprisingly, our measure of group cohesion is the only variable that successfully predicts cooperation success; none of more than twenty control variables (demographics and group characteristics) explain minimum effort. Further experiments show that our results are robust to the timing of oneness measurement (before or after play of the weak-link game). By benchmarking our results against the effect of monetary incentives, we also show (Section VI) that the effortenhancing effects of group cohesion are sizeable: large financial incentives are needed to achieve the levels of minimum effort expected for high cohesion groups.

In Section VII we turn to an explanation of our results. A rational choice perspective suggests three natural channels through which group cohesion could operate: it might affect some combination of group members’ social preferences, their beliefs or the form of their strategic reasoning. Considering social preferences, it is plausible to assume that members of highly cohesive groups care about one another and so place weight on each other’s earnings.1 In our weak-link game, if players do draw utility from each other’s earnings, this is tantamount to (some) sharing of earnings, which reduces strategic risk and fosters coordination on Pareto-superior equilibria.2 In relation to beliefs, highly cohesive groups may be more confident in simulating other group members’ thought processes and likely actions, perhaps because of a history of interactions in different (related) situations, which allows for implicit learning (e.g., Holyoak and Spellman (1993), Rick and Weber (2010)). Finally, group cohesion might influence the nature of strategic reasoning in more substantive ways. For instance, according to one model of strategic thinking, “team reasoning” (e.g., Sugden (2003), Bacharach (2006)), people think in terms of what would be best for the team (e.g., picking the Pareto-best equilibrium) and are inclined to do their part in implementing the group-optimal outcome. An interesting possibility is that team reasoning may be more likely the more cohesive the team is. These three channels might operate jointly and potentially reinforce each other in high cohesion groups. By contrast, low cohesion groups may have low levels of social preferences, little implicit learning to draw on from shared situations, and no team perception to facilitate team reasoning.

We probe these possibilities in two steps. We first show that subjects who report high oneness with their fellow group members are indeed more likely to expose themselves to the strategic risk of choosing high initial effort in our weak-link games; they are also less “harsh” in their responses when others’ effort levels are below their own. In highly cohesive groups, these tendencies apply across group members promoting coordination on equilibria above the Pareto-worst.

Our second step is to identify the social preferences channel as a promising route for explaining observed effects of group cohesion. We demonstrate this via additional experiments in which unrelated and anonymous group members play weak-link games but with all earnings shared equally. We interpret this manipulation as inducing a limiting form of social preferences (where all put equal weight on everyone’s material payoffs). The results show patterns of effort (opening levels and dynamics) very comparable to the top third most cohesive groups from our main experiment. Thus, social preferences provide a parsimonious candidate explanation of how group cohesion promotes Pareto-superior equilibria.

Smart groups of smart people: Evidence for IQ as the origin of collective intelligence in the performance of human groups: http://www.sciencedirect.com/science/article/pii/S0160289616303282
Group-IQ almost exclusively reflects individual cognition. (80% variance explained)
pdf  study  org:ngo  economics  growth-econ  behavioral-gen  psychology  social-psych  cohesion  putnam-like  coordination  trust  social-capital  values  tribalism  descriptive  collaboration  pareto  efficiency  anthropology  altruism  🎩  white-paper  info-econ  microfoundations  industrial-org  n-factor  broad-econ  cooperate-defect  axelrod  organizing  roots  interests  hive-mind  multi  iq  gender  contrarianism  critique  management  diversity  individualism-collectivism  objective-measure  biophysical-econ  wealth-of-nations  variance-components  null-result  attaq  intelligence  psychometrics  decision-making  GT-101  public-goodish 
june 2017 by nhaliday
Stages of Diversification
This paper studies the evolution of sectoral concentration in relation to the level of per capita income. We show that various measures of sectoral concentration follow a U-shaped pattern across a wide variety of data sources: countries first diversify, in the sense that economic activity is spread more equally across sectors, but there exists, relatively late in the development process, a point at which they start specializing again. We discuss this finding in light of existing theories of trade and growth, which generally predict a monotonic relationship between income and diversification. (JEL F43, F15, O40)

seems unhealthy to me (complacency)
pdf  study  economics  growth-econ  stylized-facts  correlation  curvature  wealth  wealth-of-nations  distribution  trade  heavy-industry  🎩  group-level  regional-scatter-plots  longitudinal  the-world-is-just-atoms  econ-metrics  econometrics  broad-econ  diversity  entropy-like  nonlinearity  convexity-curvature 
june 2017 by nhaliday
« earlier      
per page:    204080120160

bundles : econframe

related tags

-_-  2016-election  80000-hours  :/  ability-competence  absolute-relative  abstraction  academia  accretion  accuracy  acemoglu  acm  acmtariat  aDNA  adversarial  advertising  advice  africa  age-generation  age-of-discovery  aging  agri-mindset  agriculture  ai  ai-control  albion  alesina  algorithms  alien-character  alignment  allodium  alt-inst  altruism  amazon  american-nations  analogy  analysis  analytical-holistic  anarcho-tyranny  anglo  anglosphere  announcement  anomie  anonymity  anthropic  anthropology  antidemos  antiquity  aphorism  apollonian-dionysian  applicability-prereqs  applications  approximation  arbitrage  archaeology  archaics  aristos  arms  arrows  art  article  asia  assimilation  atmosphere  atoms  attaq  attention  audio  authoritarianism  autism  automation  axelrod  axioms  backup  barons  beauty  behavioral-econ  behavioral-gen  being-right  benchmarks  benevolence  bias-variance  biases  big-peeps  big-picture  big-yud  bio  biodet  bioinformatics  biophysical-econ  biotech  bits  blog  blowhards  books  bootstraps  bostrom  bounded-cognition  brain-scan  branches  brexit  britain  broad-econ  buddhism  business  business-models  c:*  c:**  c:***  california  canada  cancer  candidate-gene  canon  capital  capitalism  carcinisation  cardio  career  cartoons  causation  censorship  chapman  characterization  charity  chart  checklists  chicago  china  christianity  civic  civil-liberty  civilization  cjones-like  clarity  class  class-warfare  classic  clever-rats  climate-change  cliometrics  clown-world  coalitions  coarse-fine  cocktail  cog-psych  cohesion  cold-war  collaboration  coming-apart  commentary  communication  communism  community  comparison  compensation  competition  complement-substitute  complex-systems  composition-decomposition  concentration-of-measure  concept  conceptual-vocab  confluence  confounding  confucian  conquest-empire  consumerism  context  contracts  contradiction  contrarianism  control  convergence  convexity-curvature  cool  cooperate-defect  coordination  core-rats  corporation  correlation  corruption  cost-benefit  counter-revolution  counterfactual  courage  course  cracker-econ  creative  crime  criminal-justice  criminology  critique  crooked  crosstab  crux  cryptocurrency  cs  cultural-dynamics  culture  culture-war  curiosity  current-events  curvature  cybernetics  cycles  cynicism-idealism  dark-arts  darwinian  data  data-science  database  dataset  dataviz  death  debate  debt  decentralized  decision-making  decision-theory  deep-materialism  defense  definite-planning  definition  degrees-of-freedom  democracy  demographic-transition  demographics  dennett  density  dental  descriptive  detail-architecture  deterrence  developing-world  developmental  diaspora  diet  dignity  dimensionality  diogenes  direct-indirect  direction  dirty-hands  discipline  discovery  discrete  discrimination  discussion  disease  distribution  divergence  diversity  domestication  dominant-minority  douthatish  drama  driving  dropbox  drugs  duplication  duty  dynamic  dynamical  dysgenics  early-modern  easterly  eastern-europe  ecology  econ-metrics  econ-productivity  econometrics  economics  econotariat  eden  eden-heaven  education  EEA  effect-size  effective-altruism  efficiency  egalitarianism-hierarchy  EGT  eh  elections  electromag  elite  embedded-cognition  embeddings  embodied  embodied-cognition  emotion  empirical  ems  encyclopedic  end-times  endo-exo  endogenous-exogenous  energy-resources  engineering  enhancement  enlightenment-renaissance-restoration-reformation  entrepreneurialism  entropy-like  environment  envy  epidemiology  epigenetics  epistemic  equilibrium  error  essay  essence-existence  estimate  ethics  ethnocentrism  ethnography  EU  europe  events  evidence-based  evolution  evopsych  examples  existence  exit-voice  expansionism  expectancy  experiment  expert  expert-experience  explanans  explanation  exploratory  exposition  expression-survival  externalities  extrema  facebook  faq  farmers-and-foragers  fashun  fermi  fertility  feudal  feynman  fiction  field-study  film  finance  fitness  flexibility  fluid  flux-stasis  focus  food  foreign-lang  foreign-policy  formal-values  forum  free-riding  frequency  frisson  frontier  fungibility-liquidity  futurism  gallic  galor-like  game-theory  garett-jones  gavisti  gedanken  gender  gender-diff  gene-flow  general-survey  generalization  genetic-load  genetics  genomics  geoengineering  geography  geometry  geopolitics  germanic  giants  gibbon  gnon  gnosis-logos  gnxp  good-evil  google  gotchas  government  grad-school  gravity  gray-econ  great-powers  gregory-clark  group-level  group-selection  growth  growth-econ  growth-mindset  GT-101  guilt-shame  GWAS  gwern  GxE  h2o  haidt  hanson  hanushek  hard-tech  hardware  hari-seldon  harvard  health  healthcare  heavy-industry  henrich  heterodox  heuristic  hi-order-bits  hidden-motives  hierarchy  high-variance  higher-ed  history  hive-mind  hmm  hn  homepage  homo-hetero  honor  housing  hsu  huge-data-the-biggest  human-capital  humanity  humility  huntington  hypochondria  hypocrisy  hypothesis-testing  ideas  identity  identity-politics  ideology  idk  iidness  illusion  immune  impact  impetus  impro  incentives  india  individualism-collectivism  industrial-org  industrial-revolution  inequality  info-dynamics  info-econ  info-foraging  infographic  information-theory  infrastructure  innovation  input-output  insight  instinct  institutions  insurance  integration-extension  integrity  intel  intelligence  interdisciplinary  interests  internet  interpretation  intersection  intersection-connectedness  intervention  interview  intricacy  intuition  invariance  investing  iq  iran  iraq-syria  iron-age  is-ought  islam  israel  isteveish  iteration-recursion  japan  jargon  journos-pundits  judaism  justice  kinship  knowledge  korea  krugman  kumbaya-kult  labor  land  language  large-factor  larry-summers  latin-america  lattice  law  leadership  leaks  learning  lee-kuan-yew  left-wing  legacy  legibility  len:long  len:short  lens  lesswrong  let-me-see  letters  leviathan  life-history  limits  links  list  literature  lived-experience  local-global  lol  long-short-run  long-term  longevity  longform  longitudinal  low-hanging  machiavelli  machine-learning  macro  madisonian  magnitude  malaise  male-variability  malthus  management  managerial-state  manifolds  map-territory  maps  marginal  marginal-rev  market-failure  market-power  markets  martial  matching  math  math.CO  meaningness  measure  measurement  mechanics  media  medicine  medieval  mediterranean  memes(ew)  MENA  mena4  meta-analysis  meta:medicine  meta:prediction  meta:rhetoric  meta:science  meta:war  metabolic  metabuch  metameta  methodology  metric-space  metrics  micro  microfoundations  microsoft  midwest  migration  military  miri-cfar  missing-heritability  mobility  model-class  model-organism  models  modernity  mokyr-allen-mccloskey  moloch  moments  monetary-fiscal  money  mood-affiliation  morality  mostly-modern  motivation  multi  multiplicative  murray  music  musk  mutation  myth  n-factor  nascent-state  nationalism-globalism  natural-experiment  nature  navigation  near-far  negotiation  neocons  network-structure  neuro  neuro-nitgrit  neurons  new-religion  news  nibble  nietzschean  nihil  nitty-gritty  nl-and-so-can-you  noahpinion  noble-lie  noblesse-oblige  nonlinearity  nootropics  nordic  north-weingast-like  northeast  novelty  nuclear  null-result  number  nutrition  nyc  obama  obesity  objective-measure  objektbuch  occam  occident  oceans  old-anglo  open-closed  operational  opioids  optimate  optimism  optimization  order-disorder  ORFE  org:anglo  org:biz  org:bleg  org:bv  org:data  org:davos  org:econlib  org:edu  org:fin  org:foreign  org:gov  org:junk  org:lite  org:local  org:mag  org:mat  org:med  org:nat  org:ngo  org:popup  org:rec  org:sci  organizing  orient  orwellian  oscillation  other-xtian  outcome-risk  outliers  oxbridge  p:null  paleocon  parable  paradox  parallax  parasites-microbiome  parenting  pareto  parsimony  path-dependence  patho-altruism  patience  paul-romer  paying-rent  pdf  peace-violence  people  personal-finance  personality  persuasion  pessimism  phalanges  pharma  phd  philosophy  phys-energy  physics  pic  piketty  piracy  planning  plots  poast  podcast  poetry  polanyi-marx  polarization  policy  polis  polisci  political-econ  politics  poll  pop-diff  pop-structure  popsci  population  population-genetics  populism  postrat  power  pragmatic  pre-2013  pre-ww2  prediction  prediction-markets  preference-falsification  prejudice  prepping  preprint  presentation  primitivism  priors-posteriors  privacy  pro-rata  probability  problem-solving  prof  profile  progression  project  propaganda  property-rights  proposal  protestant-catholic  prudence  pseudoE  psych-architecture  psychiatry  psychology  psychometrics  public-goodish  public-health  publishing  putnam-like  q-n-a  qra  QTL  quality  quantitative-qualitative  questions  quiz  quotes  race  random  randy-ayndy  ranking  rant  rationality  ratty  reading  realness  realpolitik  reason  recent-selection  recommendations  recruiting  red-queen  reddit  redistribution  reduction  reference  reflection  regional-scatter-plots  regression  regression-to-mean  regularizer  regulation  reinforcement  relativity  religion  rent-seeking  replication  research  responsibility  retention  review  revolution  rhetoric  right-wing  rigidity  rigor  rindermann-thompson  risk  ritual  robust  roots  rot  russia  s-factor  s:*  s:**  safety  sapiens  scale  scholar  science  science-anxiety  scifi-fantasy  scitariat  scott-sumner  search  securities  security  selection  self-control  self-interest  self-report  selfish-gene  sequential  sex  shift  sib-study  signal-noise  signaling  similarity  simulation  singularity  sinosphere  skeleton  skunkworks  sky  slides  slippery-slope  smoothness  soccer  social  social-capital  social-choice  social-norms  social-psych  social-science  social-structure  sociality  society  sociology  socs-and-mops  software  solid-study  space  spatial  speaking  spearhead  speculation  speed  speedometer  spock  sports  spreading  ssc  stackex  stagnation  stamina  stanford  startups  stat-power  state-of-art  statesmen  stats  status  steel-man  stereotypes  stochastic-processes  stock-flow  stories  strategy  straussian  stream  street-fighting  stress  structure  study  studying  stylized-facts  subculture  success  sulla  summary  supply-demand  survey  sv  symmetry  synthesis  systematic-ad-hoc  szabo  tactics  tails  talks  tapes  taxes  teaching  tech  technocracy  technology  techtariat  telos-atelos  temperance  temperature  terrorism  tetlock  texas  the-basilisk  the-bones  the-classics  the-great-west-whale  the-monster  the-south  the-trenches  the-watchers  the-west  the-world-is-just-atoms  theory-practice  theos  thick-thin  thiel  things  thinking  threat-modeling  thucydides  tightness  time  time-preference  time-series  time-use  tocqueville  todo  toolkit  tools  top-n  toxoplasmosis  track-record  tracker  trade  tradeoffs  tradition  transportation  trends  tribalism  trivia  troll  trump  trust  truth  tumblr  turchin  tutorial  tutoring  tv  twitter  unaffiliated  uncertainty  unintended-consequences  uniqueness  unit  universalism-particularism  urban  urban-rural  us-them  usa  utopia-dystopia  vaclav-smil  values  vampire-squid  variance-components  venture  video  virtu  visual-understanding  visualization  visuo  vitality  vocab  volo-avolo  vr  walls  walter-scheidel  war  water  wealth  wealth-of-nations  weird  welfare-state  west-hunter  westminster  whiggish-hegelian  white-paper  wiki  wild-ideas  winner-take-all  wire-guided  wisdom  within-group  within-without  wonkish  working-stiff  world  world-war  X-not-about-Y  xenobio  yvain  zeitgeist  zero-positive-sum  zooming  🌞  🎓  🎩  🐸  👽  🔬  🤖 

Copy this bookmark:



description:


tags: