nhaliday + housing   85

Reasoning From First Principles: The Dumbest Thing Smart People Do
Most middle-class Americans at least act as if:
- Exactly four years of higher education is precisely the right level of training for the overwhelming majority of good careers.
- You should spend most of your waking hours most days of the week for the previous twelve+ years preparing for those four years. In your free time, be sure to do the kinds of things guidance counselors think are impressive; we as a society know that these people are the best arbiters of arete.
- Forty hours per week is exactly how long it takes to be reasonably successful in most jobs.
- On the margin, the cost of paying for money management exceeds the cost of adverse selection from not paying for it.
- You will definitely learn important information about someone’s spousal qualifications in years two through five of dating them.
-Human beings need about 50% more square feet per capita than they did a generation or two ago, and you should probably buy rather than rent it.
- Books are very boring, but TV is interesting.

All of these sound kind of dumb when you write them out. Even if they’re arguably true, you’d expect a good argument. You can be a low-risk contrarian by just picking a handful of these, articulating an alternative — either a way to get 80% of the benefit at 20% of the cost, or a way to pay a higher cost to get massively more benefits — and then living it.[1]
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15 days ago by nhaliday
Reid Hofmann and Peter Thiel and technology and politics - Marginal REVOLUTION
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february 2018 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.
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december 2017 by nhaliday
Disaggregating the economy: cost of living | askblog
here are the US states color-coded according to per capita GDP with an adjustment for Regional Price Parities: that is, it’s a measure of income adjusted for what it actually costs to buy housing and other goods. With that change, California, New York, and Maryland are no longer in the top category. Hoever, a number of midwestern states like Kansas, Nebraska, South Dakota, and my own Minnesota move into the top category. A number of states in the mountain west and south that were in the lowest-income category when just looking at per capita GDP move up a category or two when the Regional Price Parities are taken into account.
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november 2017 by nhaliday
Which industries are the most liberal and most conservative?
How Democratic or Republican is your job? This tool tells you: https://www.washingtonpost.com/news/the-fix/wp/2015/06/03/how-democratic-or-republican-is-your-job-this-tool-tells-you/?utm_term=.e19707abd9f1

http://verdantlabs.com/politics_of_professions/index.html

What you do and how you vote: http://www.pleeps.org/2017/01/07/what-you-do-and-how-you-vote/

trending blue across white-collar professions:
https://www.nytimes.com/2019/09/18/opinion/trump-fundraising-donors.html
https://twitter.com/adam_bonica/status/1174536380329803776
https://archive.is/r7YB6

https://twitter.com/whyvert/status/1174735746088996864
https://archive.is/Cwrih
This is partly because the meaning of left and right changed during that period. Left used to about protecting workers. Now it's mainly about increasing the power of the elite class over the working class - thus their increased support.
--
yes, it is a different kind of left now

academia:
https://en.wikipedia.org/wiki/Political_views_of_American_academics

The Legal Academy's Ideological Uniformity: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2953087

Homogenous: The Political Affiliations of Elite Liberal Arts College Faculty: https://sci-hub.tw/10.1007/s12129-018-9700-x
includes crosstab by discipline

https://www.conservativecriminology.com/uploads/5/6/1/7/56173731/lounsbery_9-25.pdf#page=28
Neil Gross, Solon Simmons
THE SOCIAL AND POLITICAL VIEWS OF AMERICAN PROFESSORS

another crosstab
description of data sampling on page 21, meant to be representative of all undergraduate degree-granting institutions

Computer science 32.3 58.1 9.7

It’s finally out–The big review paper on the lack of political diversity in social psychology: https://heterodoxacademy.org/2015/09/14/bbs-paper-on-lack-of-political-diversity/
https://heterodoxacademy.org/2015/09/21/political-diversity-response-to-33-critiques/
http://righteousmind.com/viewpoint-diversity/
http://www.nationalaffairs.com/publications/detail/real-academic-diversity
http://quillette.com/2017/07/06/social-sciences-undergoing-purity-spiral/
What’s interesting about Haidt’s alternative interpretation of the liberal progress narrative is that he mentions two elements central to the narrative—private property and nations. And what has happened to a large extent is that as the failures of communism have become increasingly apparent many on the left—including social scientists—have shifted their activism away from opposing private property and towards other aspects, for example globalism.

But how do we know a similarly disastrous thing is not going to happen with globalism as happened with communism? What if some form of national and ethnic affiliation is a deep-seated part of human nature, and that trying to forcefully suppress it will eventually lead to a disastrous counter-reaction? What if nations don’t create conflict, but alleviate it? What if a decentralised structure is the best way for human society to function?
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september 2017 by nhaliday
Medicine as a pseudoscience | West Hunter
The idea that venesection was a good thing, or at least not so bad, on the grounds that one in a few hundred people have hemochromatosis (in Northern Europe) reminds me of the people who don’t wear a seatbelt, since it would keep them from being thrown out of their convertible into a waiting haystack, complete with nubile farmer’s daughter. Daughters. It could happen. But it’s not the way to bet.

Back in the good old days, Charles II, age 53, had a fit one Sunday evening, while fondling two of his mistresses.

Monday they bled him (cupping and scarifying) of eight ounces of blood. Followed by an antimony emetic, vitriol in peony water, purgative pills, and a clyster. Followed by another clyster after two hours. Then syrup of blackthorn, more antimony, and rock salt. Next, more laxatives, white hellebore root up the nostrils. Powdered cowslip flowers. More purgatives. Then Spanish Fly. They shaved his head and stuck blistering plasters all over it, plastered the soles of his feet with tar and pigeon-dung, then said good-night.

...

Friday. The king was worse. He tells them not to let poor Nelly starve. They try the Oriental Bezoar Stone, and more bleeding. Dies at noon.

Most people didn’t suffer this kind of problem with doctors, since they never saw one. Charles had six. Now Bach and Handel saw the same eye surgeon, John Taylor – who blinded both of them. Not everyone can put that on his resume!

You may wonder how medicine continued to exist, if it had a negative effect, on the whole. There’s always the placebo effect – at least there would be, if it existed. Any real placebo effect is very small: I’d guess exactly zero. But there is regression to the mean. You see the doctor when you’re feeling worse than average – and afterwards, if he doesn’t kill you outright, you’re likely to feel better. Which would have happened whether you’d seen him or not, but they didn’t often do RCTs back in the day – I think James Lind was the first (1747).

Back in the late 19th century, Christian Scientists did better than others when sick, because they didn’t believe in medicine. For reasons I think mistaken, because Mary Baker Eddy rejected the reality of the entire material world, but hey, it worked. Parenthetically, what triggered all that New Age nonsense in 19th century New England? Hash?

This did not change until fairly recently. Sometime in the early 20th medicine, clinical medicine, what doctors do, hit break-even. Now we can’t do without it. I wonder if there are, or will be, other examples of such a pile of crap turning (mostly) into a real science.

good tweet: https://twitter.com/bowmanthebard/status/897146294191390720
The brilliant GP I've had for 35+ years has retired. How can I find another one who meets my requirements?

1 is overweight
2 drinks more than officially recommended amounts
3 has an amused, tolerant atitude to human failings
4 is well aware that we're all going to die anyway, & there are better or worse ways to die
5 has a healthy skeptical attitude to mainstream medical science
6 is wholly dismissive of "a|ternative” medicine
7 believes in evolution
8 thinks most diseases get better without intervention, & knows the dangers of false positives
9 understands the base rate fallacy

EconPapers: Was Civil War Surgery Effective?: http://econpapers.repec.org/paper/htrhcecon/444.htm
contra Greg Cochran:
To shed light on the subject, I analyze a data set created by Dr. Edmund Andrews, a Civil war surgeon with the 1st Illinois Light Artillery. Dr. Andrews’s data can be rendered into an observational data set on surgical intervention and recovery, with controls for wound location and severity. The data also admits instruments for the surgical decision. My analysis suggests that Civil War surgery was effective, and increased the probability of survival of the typical wounded soldier, with average treatment effect of 0.25-0.28.

Medical Prehistory: https://westhunt.wordpress.com/2016/03/14/medical-prehistory/
What ancient medical treatments worked?

https://westhunt.wordpress.com/2016/03/14/medical-prehistory/#comment-76878
In some very, very limited conditions, bleeding?
--
Bad for you 99% of the time.

https://westhunt.wordpress.com/2016/03/14/medical-prehistory/#comment-76947
Colchicine – used to treat gout – discovered by the Ancient Greeks.

https://westhunt.wordpress.com/2016/03/14/medical-prehistory/#comment-76973
Dracunculiasis (Guinea worm)
Wrap the emerging end of the worm around a stick and slowly pull it out.
(3,500 years later, this remains the standard treatment.)
https://en.wikipedia.org/wiki/Ebers_Papyrus

https://westhunt.wordpress.com/2016/03/14/medical-prehistory/#comment-76971
Some of the progress is from formal medicine, most is from civil engineering, better nutrition ( ag science and physical chemistry), less crowded housing.

Nurses vs doctors: https://westhunt.wordpress.com/2014/10/01/nurses-vs-doctors/
Medicine, the things that doctors do, was an ineffective pseudoscience until fairly recently. Until 1800 or so, they were wrong about almost everything. Bleeding, cupping, purging, the four humors – useless. In the 1800s, some began to realize that they were wrong, and became medical nihilists that improved outcomes by doing less. Some patients themselves came to this realization, as when Civil War casualties hid from the surgeons and had better outcomes. Sometime in the early 20th century, MDs reached break-even, and became an increasingly positive influence on human health. As Lewis Thomas said, medicine is the youngest science.

Nursing, on the other hand, has always been useful. Just making sure that a patient is warm and nourished when too sick to take care of himself has helped many survive. In fact, some of the truly crushing epidemics have been greatly exacerbated when there were too few healthy people to take care of the sick.

Nursing must be old, but it can’t have existed forever. Whenever it came into existence, it must have changed the selective forces acting on the human immune system. Before nursing, being sufficiently incapacitated would have been uniformly fatal – afterwards, immune responses that involved a period of incapacitation (with eventual recovery) could have been selectively favored.

when MDs broke even: https://westhunt.wordpress.com/2014/10/01/nurses-vs-doctors/#comment-58981
I’d guess the 1930s. Lewis Thomas thought that he was living through big changes. They had a working serum therapy for lobar pneumonia ( antibody-based). They had many new vaccines ( diphtheria in 1923, whopping cough in 1926, BCG and tetanus in 1927, yellow fever in 1935, typhus in 1937.) Vitamins had been mostly worked out. Insulin was discovered in 1929. Blood transfusions. The sulfa drugs, first broad-spectrum antibiotics, showed up in 1935.

DALYs per doctor: https://westhunt.wordpress.com/2018/01/22/dalys-per-doctor/
The disability-adjusted life year (DALY) is a measure of overall disease burden – the number of years lost. I’m wondering just much harm premodern medicine did, per doctor. How many healthy years of life did a typical doctor destroy (net) in past times?

...

It looks as if the average doctor (in Western medicine) killed a bunch of people over his career ( when contrasted with doing nothing). In the Charles Manson class.

Eventually the market saw through this illusion. Only took a couple of thousand years.

https://westhunt.wordpress.com/2018/01/22/dalys-per-doctor/#comment-100741
That a very large part of healthcare spending is done for non-health reasons. He has a chapter on this in his new book, also check out his paper “Showing That You Care: The Evolution of Health Altruism” http://mason.gmu.edu/~rhanson/showcare.pdf
--
I ran into too much stupidity to finish the article. Hanson’s a loon. For example when he talks about the paradox of blacks being more sentenced on drug offenses than whites although they use drugs at similar rate. No paradox: guys go to the big house for dealing, not for using. Where does he live – Mars?

I had the same reaction when Hanson parroted some dipshit anthropologist arguing that the stupid things people do while drunk are due to social expectations, not really the alcohol.
Horseshit.

I don’t think that being totally unable to understand everybody around you necessarily leads to deep insights.

https://westhunt.wordpress.com/2018/01/22/dalys-per-doctor/#comment-100744
What I’ve wondered is if there was anything that doctors did that actually was helpful and if perhaps that little bit of success helped them fool people into thinking the rest of it helped.
--
Setting bones. extracting arrows: spoon of Diocles. Colchicine for gout. Extracting the Guinea worm. Sometimes they got away with removing the stone. There must be others.
--
Quinine is relatively recent: post-1500. Obstetrical forceps also. Caesarean deliveries were almost always fatal to the mother until fairly recently.

Opium has been around for a long while : it works.

https://westhunt.wordpress.com/2018/01/22/dalys-per-doctor/#comment-100839
If pre-modern medicine was indeed worse than useless – how do you explain no one noticing that patients who get expensive treatments are worse off than those who didn’t?
--
were worse off. People are kinda dumb – you’ve noticed?
--
My impression is that while people may be “kinda dumb”, ancient customs typically aren’t.
Even if we assume that all people who lived prior to the 19th century were too dumb to make the rational observation, wouldn’t you expect this ancient practice to be subject to selective pressure?
--
Your impression is wrong. Do you think that there some slick reason for Carthaginians incinerating their first-born?

Theodoric of York, bloodletting: https://www.youtube.com/watch?v=yvff3TViXmY

details on blood-letting and hemochromatosis: https://westhunt.wordpress.com/2018/01/22/dalys-per-doctor/#comment-100746

Starting Over: https://westhunt.wordpress.com/2018/01/23/starting-over/
Looking back on it, human health would have … [more]
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august 2017 by nhaliday
Reckonings; A Rent Affair - The New York Times
Economists who have ventured into the alleged real world often quote Princeton's Alan Blinder, who has formulated what he calls ''Murphy's Law of economic policy'': ''Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently.'' It's flip and cynical, but it's true.
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august 2017 by nhaliday
The Dream Hoarders: How America's Top 20 Percent Perpetuates Inequality | Boston Review
https://twitter.com/pnin1957/status/876835822842130433
https://archive.is/1Noyi
this is ominous
http://www.slate.com/articles/news_and_politics/politics/2015/01/the_upper_middle_class_is_ruining_all_that_is_great_about_america.html
Has the Democratic Party Gotten Too Rich for Its Own Good: https://www.nytimes.com/2017/06/01/opinion/democratic-party-rich-thomas-edsall.html
Saving the American Dream: https://www.commentarymagazine.com/articles/saving-american-dream/
It’s not just about the people at the top
- Amy Wax

ow can we arrange things so that more people with different levels of affluence can prosper and live meaningful lives? How can we make the advantages that the rich now “hoard” more widely available, thus reducing their incentive to separate themselves? Although these goals are elusive and difficult for any society to attain, ours can probably do better. But the changes required would be far bolder than the tepid ones Reeves proposes, which do little to disrupt current “structures of privilege.” And more dramatic reforms might also advance the causes he holds dear, including enhancing mobility and reducing inequality.
So here goes my laundry list.

Let’s start with Reeves’s proposal to ban legacy admissions. Not only would this increase fairness, but it would discourage private contributions. This would, in turn, promote the worthy goal of defunding the Ivies and other selective universities, which have become counterproductive sites of snobbery, dogma, and progressive indoctrination. Save for the kind of scientific research that benefits everyone, they don’t need any more money and could do with much less.

But we shouldn’t stop there. As suggested by the late Justice Antonin Scalia during oral argument in the Grutter affirmative-action case, selective admissions should simply be abolished and students admitted by lottery, except for math and hard sciences, for which a simple test can determine entrance. The steep pyramid of colleges, in which the affluent crowd monopolizes prestigious institutions, will be immediately flattened, and the need for affirmative action would disappear. In this respect, our system would simply mimic those in northern European countries like Holland and Germany, where enrolling in the university nearest to home is the usual practice and there is no clear elite pecking order. And since fewer than a fifth of colleges take less than half their applicants, with only a tiny group much more competitive, this change would have no effect on most institutions of higher learning.

While we’re at it, we should give up on the fetish of college for all by significantly reducing the number of students attending four-year academic programs to no more than 10 to 15 percent of high-school graduates. The government should dial back on student loans and grants to universities, except for scientific research.

That step, which would reduce the burden of educational debt, is not as drastic as it appears, since many students who start college end up dropping out and only 25 percent of high-school graduates manage to obtain a four-year degree. At the same time, we should step up the effort to recruit highly qualified low-income students to the most selective colleges across the country—something that Caroline Hoxby’s research tells us is not currently taking place. Finally, we should copy some of Western Europe’s most successful economies by tracking more students into job-related nonacademic programs, and by redirecting the private and public money that now goes to universities to creating and maintaining such programs.

More broadly, the amounts freed up by defunding elite colleges and private schools should be used to help average Americans. The Gates Foundation and other rich private philanthropies should stop chasing after educational schemes of dubious value and devote their billions to improving community colleges, supporting the people who attend them, and dramatically expanding vocational programs.

Although Reeves does mention vocational education, he does so only in passing. That option should receive renewed emphasis. And private donors should provide grants to thousands of students of modest means, including stipends for rent and living expenses, to enable them to do the summer internships that Reeves claims are now so important to getting ahead.
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june 2017 by nhaliday
Book Review by John Derbyshire: Doesn’t Add Up
Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy
https://twitter.com/HoustonEuler/status/887479542360702977
My embedded opinion is that Cathy O'Neil frequently writes foolish things
She's a former mathematician/finance quant who dresses up a lot of progressive dogma with phony skepticism

http://www.vdare.com/tag/minority-mortgage-meltdown
http://www.slate.com/articles/business/moneybox/2008/10/subprime_suspects.html
http://voxeu.org/article/minority-mortgage-market-and-crisis

Causes of the Financial Crisis: https://spottedtoad.wordpress.com/2016/01/17/causes-of-the-financial-crisis/
Look, Wall Street was definitely a bad actor from 2000-2008. But the idea that they were solely responsible for the crisis has got to go. There were four main factors, in descending order:

a) A huge global savings glut that meant there were vast amounts of cash people were eager to lend out, combined with…

b) Enormous pressures to make use of all that money to increase lending and reduce standards for lower-income and minority households.

This book has some of the story, mostly focusing on the expansion and growing political power of Freddie and Fannie in the 1990s, but it really wasn’t any secret that reducing credit-worthiness (sorry, barriers to homeownership) was an explicit goal of the Clinton and Bush administrations and affiliated banks. Bush gave a long speech on these goals in mid-2002. Countrywide, led by Angelo Mozilo, pledged $600 billion in loans to low-income and minority homeowners in early 2003. Then, the Bush administration was bragging in late 2004 about the commitments they had elicited from lenders to expand low-income and minority lending by over $1 Trillion. Then, a few months later, in 2005, Countrywide, with a former HUD secretary on its board, released a press release bragging that they were going to increase their book of lending to minority and low-income households to $1 Trillion. Looking back on the crisis, liberal sociologists find, unsurprisingly, that subprime lending and the subsequent foreclosures were concentrated in minority households.
c) The efforts to extend massive amounts of credit to non-creditworthy families were abetted by fraud and irresponsible borrowing by those same households. See, for example, Atif Mian’s papers on widespread fraud in mortgage applications.
d) Bad actions by Wall Street (Inside Job is probably a good version of this.)

The idea that only d matters is just nuts.
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may 2017 by nhaliday
Out-of-Town Home Buyers and City Welfare by Jack Y Favilukis, Stijn Van Nieuwerburgh :: SSRN
An inflow of OOT real estate buyers pushes up prices, rents, and wages. It increases the concentration of young, high-productivity, and wealthy households in the city center (gentrification). When OOT investors buy 10% of the housing stock, city welfare goes down by 0.3% of permanent consumption levels. The average renter suffers a large welfare loss while the average owner gains modestly. We calibrate the model to the New York metro area using data on OOT purchases.The observed increase in OOT purchases is associated with 1.1% higher house prices and a 0.1% welfare loss.
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may 2017 by nhaliday
Housing Constraints and Spatial Misallocation
We quantify the amount of spatial misallocation of labor across US cities and its aggregate costs. Misallocation arises because high productivity cities like New York and the San Francisco Bay Area have adopted stringent restrictions to new housing supply, effectively limiting the number of workers who have access to such high productivity. Using a spatial equilibrium model and data from 220 metropolitan areas we find that these constraints lowered aggregate US growth by more than 50% from 1964 to 2009.
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may 2017 by nhaliday
What software engineers are making around the world right now | TechCrunch
https://hired.com/state-of-salaries-2017
https://hired.com/state-of-salaries-2018
https://hired.com/page/state-of-salaries/adjusted-cost-of-living-tech-salary-by-city
https://hired.com/blog/candidates/where-engineer-salaries-pay-highest-standard-living/
https://www.daxx.com/blog/development-trends/it-salaries-software-developer-trends-2019
https://www.forbes.com/sites/karstenstrauss/2016/07/07/the-best-paying-cities-for-software-engineers-in-2016/#4538e52f62f1
https://www.networkworld.com/article/3091719/13-top-paying-cities-for-software-engineers.html

https://expatriates.stackexchange.com/questions/538/how-to-match-eu-income-to-us-salary
https://techbeacon.com/app-dev-testing/top-12-international-cities-software-engineers

https://blogs.wsj.com/economics/2017/07/26/the-best-100000-tech-jobs-are-increasingly-concentrated-in-just-8-cities/
The eight leading U.S. tech hubs account for slightly less than 10% of U.S. jobs and about 13% of overall job postings. But the cities — Seattle, San Francisco, San Jose, Austin, Raleigh, Washington, Baltimore and Boston — account for more than 27% of the listings for U.S. tech jobs, research from Jed Kolko, the chief economist of the job-search website Indeed, shows.

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

The hubs are defined as the cities with the highest share of jobs in tech, so cities like New York City, with large populations but not a concentrated focus on tech, do not count.
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may 2017 by nhaliday
The Internet Guide to Funding College and Section 529 College Savings Plans. Savingforcollege.com
https://twitter.com/toad_spotted/status/882227467263586304
https://archive.is/AYsxl
It looks to me like best thing to do is accrue home equity (since it's partly shielded for financial aid purposes)&otherwise grin n bear it
It's pretty obvious that the 521 break mostly is a transfer from federal government to colleges and state budgets not to rich households.
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april 2017 by nhaliday
Educational Romanticism & Economic Development | pseudoerasmus
https://twitter.com/GarettJones/status/852339296358940672
deleeted

https://twitter.com/GarettJones/status/943238170312929280
https://archive.is/p5hRA

Did Nations that Boosted Education Grow Faster?: http://econlog.econlib.org/archives/2012/10/did_nations_tha.html
On average, no relationship. The trendline points down slightly, but for the time being let's just call it a draw. It's a well-known fact that countries that started the 1960's with high education levels grew faster (example), but this graph is about something different. This graph shows that countries that increased their education levels did not grow faster.

Where has all the education gone?: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.1016.2704&rep=rep1&type=pdf

https://twitter.com/GarettJones/status/948052794681966593
https://archive.is/kjxqp

https://twitter.com/GarettJones/status/950952412503822337
https://archive.is/3YPic

https://twitter.com/pseudoerasmus/status/862961420065001472
http://hanushek.stanford.edu/publications/schooling-educational-achievement-and-latin-american-growth-puzzle

The Case Against Education: What's Taking So Long, Bryan Caplan: http://econlog.econlib.org/archives/2015/03/the_case_agains_9.html

The World Might Be Better Off Without College for Everyone: https://www.theatlantic.com/magazine/archive/2018/01/whats-college-good-for/546590/
Students don't seem to be getting much out of higher education.
- Bryan Caplan

College: Capital or Signal?: http://www.economicmanblog.com/2017/02/25/college-capital-or-signal/
After his review of the literature, Caplan concludes that roughly 80% of the earnings effect from college comes from signalling, with only 20% the result of skill building. Put this together with his earlier observations about the private returns to college education, along with its exploding cost, and Caplan thinks that the social returns are negative. The policy implications of this will come as very bitter medicine for friends of Bernie Sanders.

Doubting the Null Hypothesis: http://www.arnoldkling.com/blog/doubting-the-null-hypothesis/

Is higher education/college in the US more about skill-building or about signaling?: https://www.quora.com/Is-higher-education-college-in-the-US-more-about-skill-building-or-about-signaling
ballpark: 50% signaling, 30% selection, 20% addition to human capital
more signaling in art history, more human capital in engineering, more selection in philosophy

Econ Duel! Is Education Signaling or Skill Building?: http://marginalrevolution.com/marginalrevolution/2016/03/econ-duel-is-education-signaling-or-skill-building.html
Marginal Revolution University has a brand new feature, Econ Duel! Our first Econ Duel features Tyler and me debating the question, Is education more about signaling or skill building?

Against Tulip Subsidies: https://slatestarcodex.com/2015/06/06/against-tulip-subsidies/

https://www.overcomingbias.com/2018/01/read-the-case-against-education.html

https://nintil.com/2018/02/05/notes-on-the-case-against-education/

https://www.nationalreview.com/magazine/2018-02-19-0000/bryan-caplan-case-against-education-review

https://spottedtoad.wordpress.com/2018/02/12/the-case-against-education/
Most American public school kids are low-income; about half are non-white; most are fairly low skilled academically. For most American kids, the majority of the waking hours they spend not engaged with electronic media are at school; the majority of their in-person relationships are at school; the most important relationships they have with an adult who is not their parent is with their teacher. For their parents, the most important in-person source of community is also their kids’ school. Young people need adult mirrors, models, mentors, and in an earlier era these might have been provided by extended families, but in our own era this all falls upon schools.

Caplan gestures towards work and earlier labor force participation as alternatives to school for many if not all kids. And I empathize: the years that I would point to as making me who I am were ones where I was working, not studying. But they were years spent working in schools, as a teacher or assistant. If schools did not exist, is there an alternative that we genuinely believe would arise to draw young people into the life of their community?

...

It is not an accident that the state that spends the least on education is Utah, where the LDS church can take up some of the slack for schools, while next door Wyoming spends almost the most of any state at $16,000 per student. Education is now the one surviving binding principle of the society as a whole, the one black box everyone will agree to, and so while you can press for less subsidization of education by government, and for privatization of costs, as Caplan does, there’s really nothing people can substitute for it. This is partially about signaling, sure, but it’s also because outside of schools and a few religious enclaves our society is but a darkling plain beset by winds.

This doesn’t mean that we should leave Caplan’s critique on the shelf. Much of education is focused on an insane, zero-sum race for finite rewards. Much of schooling does push kids, parents, schools, and school systems towards a solution ad absurdum, where anything less than 100 percent of kids headed to a doctorate and the big coding job in the sky is a sign of failure of everyone concerned.

But let’s approach this with an eye towards the limits of the possible and the reality of diminishing returns.

https://westhunt.wordpress.com/2018/01/27/poison-ivy-halls/
https://westhunt.wordpress.com/2018/01/27/poison-ivy-halls/#comment-101293
The real reason the left would support Moander: the usual reason. because he’s an enemy.

https://westhunt.wordpress.com/2018/02/01/bright-college-days-part-i/
I have a problem in thinking about education, since my preferences and personal educational experience are atypical, so I can’t just gut it out. On the other hand, knowing that puts me ahead of a lot of people that seem convinced that all real people, including all Arab cabdrivers, think and feel just as they do.

One important fact, relevant to this review. I don’t like Caplan. I think he doesn’t understand – can’t understand – human nature, and although that sometimes confers a different and interesting perspective, it’s not a royal road to truth. Nor would I want to share a foxhole with him: I don’t trust him. So if I say that I agree with some parts of this book, you should believe me.

...

Caplan doesn’t talk about possible ways of improving knowledge acquisition and retention. Maybe he thinks that’s impossible, and he may be right, at least within a conventional universe of possibilities. That’s a bit outside of his thesis, anyhow. Me it interests.

He dismisses objections from educational psychologists who claim that studying a subject improves you in subtle ways even after you forget all of it. I too find that hard to believe. On the other hand, it looks to me as if poorly-digested fragments of information picked up in college have some effect on public policy later in life: it is no coincidence that most prominent people in public life (at a given moment) share a lot of the same ideas. People are vaguely remembering the same crap from the same sources, or related sources. It’s correlated crap, which has a much stronger effect than random crap.

These widespread new ideas are usually wrong. They come from somewhere – in part, from higher education. Along this line, Caplan thinks that college has only a weak ideological effect on students. I don’t believe he is correct. In part, this is because most people use a shifting standard: what’s liberal or conservative gets redefined over time. At any given time a population is roughly half left and half right – but the content of those labels changes a lot. There’s a shift.

https://westhunt.wordpress.com/2018/02/01/bright-college-days-part-i/#comment-101492
I put it this way, a while ago: “When you think about it, falsehoods, stupid crap, make the best group identifiers, because anyone might agree with you when you’re obviously right. Signing up to clear nonsense is a better test of group loyalty. A true friend is with you when you’re wrong. Ideally, not just wrong, but barking mad, rolling around in your own vomit wrong.”
--
You just explained the Credo quia absurdum doctrine. I always wondered if it was nonsense. It is not.
--
Someone on twitter caught it first – got all the way to “sliding down the razor blade of life”. Which I explained is now called “transitioning”

What Catholics believe: https://theweek.com/articles/781925/what-catholics-believe
We believe all of these things, fantastical as they may sound, and we believe them for what we consider good reasons, well attested by history, consistent with the most exacting standards of logic. We will profess them in this place of wrath and tears until the extraordinary event referenced above, for which men and women have hoped and prayed for nearly 2,000 years, comes to pass.

https://westhunt.wordpress.com/2018/02/05/bright-college-days-part-ii/
According to Caplan, employers are looking for conformity, conscientiousness, and intelligence. They use completion of high school, or completion of college as a sign of conformity and conscientiousness. College certainly looks as if it’s mostly signaling, and it’s hugely expensive signaling, in terms of college costs and foregone earnings.

But inserting conformity into the merit function is tricky: things become important signals… because they’re important signals. Otherwise useful actions are contraindicated because they’re “not done”. For example, test scores convey useful information. They could help show that an applicant is smart even though he attended a mediocre school – the same role they play in college admissions. But employers seldom request test scores, and although applicants may provide them, few do. Caplan says ” The word on the street… [more]
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april 2017 by nhaliday
The Peculiar Populism of Donald Trump - The New York Times
Instead, he points out, the United States has gone in two seemingly opposite directions over the past 15 years, becoming “significantly more secular-rational, while losing ground on self-expressive values.”

Whites living in low density, exurban and rural areas are driving the shift back toward survival values, Wilkinson argues.

https://niskanencenter.org/blog/tale-two-moralities-part-one-regional-inequality-moral-polarization/

How Fear of Falling Explains the Love of Trump: https://www.nytimes.com/2017/07/20/opinion/how-fear-of-falling-explains-the-love-of-trump.html
In these conversations, she said,

it wouldn’t take long before another topic spontaneously came up, blacks, their problems, their call on government help. At the bottom of the imagined slide was the situation of blacks — teen single moms, kids out in the street at night, slacking off in school, drugs, drink. So, yes, the feeling was, “if we don’t turn this thing around, that could be us.”

Why Fathers Leave Their Children: https://www.nytimes.com/2017/06/16/opinion/why-fathers-leave-their-children.html
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april 2017 by nhaliday
Posterity Environmentalism – spottedtoad
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april 2017 by nhaliday
The lopsided age distribution of partisan politics, visualized - The Washington Post
controlling for demographics: http://www.pleeps.org/2016/06/23/the-mystery-of-millennial-politics/
https://twitter.com/epkaufm/status/903376370759196672
White millennials in US relatively similar to older whites in both partisanship & conservatism, shows Deborah Schildkraut at #APSA2017
https://twitter.com/wccubbison/status/903699883332427777
https://archive.is/WHpvc
Incredibly important paper from #APSA2017 by @debbiejsr & Satia Marotta on racial views of white millennials
cf: https://pinboard.in/u:nhaliday/b:8bdede501f24
https://twitter.com/SeanMcElwee/status/905104283036774400
People mistakenly believe that younger people have always been more liberal. In reality, the current age divide is larger than ever.

The future belongs to the Left: http://www.edwest.co.uk/spectator-blogs/the-future-belongs-to-the-left/
Labour is now the party of the middle class: http://www.edwest.co.uk/spectator-blogs/labour-is-now-the-party-of-the-middle-class/

The Zero-Sum Society: https://spottedtoad.wordpress.com/2017/06/12/the-zero-sum-society/
Record house prices are stopping couples having 160,000 children because they cannot afford bigger homes or are stuck in rental flats: http://www.dailymail.co.uk/news/article-4699862/House-prices-stopping-couples-having-160-000-children.html
https://static1.squarespace.com/static/56eddde762cd9413e151ac92/t/5968e14e86e6c08c90fda56c/1500045650060/Housing+and+fertility.pdf
Conservatism has no future unless it tackles housing: https://inews.co.uk/opinion/conservatism-no-future-unless-tackles-housing/
https://twitter.com/Birdyword/status/915676030110715904
https://archive.is/ezoDy
Wealth is unevenly distributed generally, but much less so in property than financial wealth - far bigger constituency for protecting it (Bristol Uni 2015)
This is why the 'house prices should fall' line is a dead end. Ex-pensions it's most of all the wealth majority of people have.

US at min wage: https://www.citylab.com/equity/2017/06/rent-is-affordable-to-low-wage-workers-in-exactly-12-us-counties/529782/

How Britain voted at the 2017 general election: https://yougov.co.uk/news/2017/06/13/how-britain-voted-2017-general-election/
In electoral terms, age seems to be the new dividing line in British politics. The starkest way to show this is to note that, amongst first time voters (those aged 18 and 19), Labour was forty seven percentage points ahead. Amongst those aged over 70, the Conservatives had a lead of fifty percentage points.
https://twitter.com/Peston/status/902990464697208835
This has got to embarrass most sensible Tory MPs
(poll numbers for specific issues)
https://twitter.com/tomhfh/status/917376537867051009
https://archive.is/IHhSz
John Curtice giving us @DUConservatives a slightly painful talk 😬
...
John Curtice is explaining that Labour’s economic policies did almost nothing to galvanise the young. It was their social liberalism.
Older voters more likely to care about rent control or redistribution than young.
Tuition fees are a misdiagnosis.
It’s SOCIAL LIBERALISM.
“In many ways the cues and mood music are more important than the policy.”
“The prominence of social issues have never been as big a dimension as they played in 2017.
Neither had the disparity in age.”
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march 2017 by nhaliday
Considerations On Cost Disease | Slate Star Codex
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february 2017 by nhaliday
The Interest Rate is a Price, not a Prediction – spottedtoad
What I sensed was that while the laws of supply and demand governed everything on earth, the easy money was in demand—manufacturing it, manipulating it, sending it forth to multiply, etc. As a rule of thumb (and with some notable exceptions), the profit margins you could achieve selling a good or service were directly correlated to the total idiocy and/or moral bankruptcy of the demand you drummed up for it.
This was easier to grasp if you were in the business of peddling heroin, Internet stocks, or celebrity gossip; journalists, on the other hand, were at a conspicuous disadvantage when it came to understanding their role in this equation…That journalism’s ability to deliver that information—to fill that need—ultimately depended, to an unsettling degree, on the ability to create artificial demand for a lot of stuff that people didn’t actually need—luxury condos, ergonomically correct airplane seats, the latest celebrity-endorsed scent—was an afterthought at best, at least in the newsroom.

https://twitter.com/toad_spotted/status/730030473506885632
https://archive.is/SS3K9
https://archive.is/CDGr2
"part of a bigger, vague theory I have that pop growth leads to more risk taking, entrepreneurship, and innovation..."
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january 2017 by nhaliday
Would Clinton have defeated Trump in an epistocracy? | We the Pleeple
Next on the chart are the various epistocratic scenarios. What if we give especially low-knowledge voters only half a vote, or only a third, or bar them completely? What if we use a graduated more-votes-for-more-knowledge system? What if we give especially high-knowledge voters an extra vote, or two, or take epistocracy literally and allow only these high-knowledge folks to vote?

Do any of these proposals improve Clinton’s popular vote margin over Trump? No. In fact, each one would have given Trump a popular vote lead, anywhere from 0.5 points (giving high-knowledge folks a single extra vote) to 4.3 points (letting only high-knowledge folks vote). In an epistocracy of the sort Brennan and others imagine, Trump’s victory over Clinton would have been even more securely won.

contrary update:
ACTUALLY, EPISTOCRACY MIGHT HAVE HELPED CLINTON DEFEAT TRUMP: http://www.pleeps.org/2017/04/11/actually-epistocracy-might-have-helped-clinton-defeat-trump/
But she probably would have been running against President Romney, and might have still lost.

Were Trump Voters Irrational?: http://quillette.com/2017/09/28/trump-voters-irrational/
In addition to being misplaced, leftists never seem to see how insulting this critique of Republican voters is. Their failure to see the insult illustrates precisely what they get wrong in evaluating the rationality of the Trump voters. Consider that these What’s the Matter with Kansas? critiques are written by highly educated left-wing pundits, professors, and advocates. Perhaps we should ask one of them whether their own vote is purely self-interested and for their own monetary benefit. They will say no, of course. And they will deny as well that their vote is irrational. Progressives will say that they often vote against their own monetary interests in order to do good for other people. Or they will say that their vote reflects their values and worldview—that they are concerned about the larger issues that are encompassed by that worldview (abortion legislation or climate change or gun restriction). Leftists seem unable to see that Republican voters—even lower income ones—may be just as attached to their own values and worldviews. The stance of the educated progressive making the What’s the Matter with Kansas? argument seems to be that: “no one else should vote against their monetary interests, but it’s not irrational for me to do so, because I am enlightened.”

...

Progressives tend to deny or obfuscate (just as conservatives obfuscate the research on global warming) the data indicating that single-parent households lead to more behavioral problems among children. Overwhelmingly progressive university schools of education deny the strong scientific consensus that phonics-based reading instruction facilitates most readers, especially those struggling the most. Many progressives find it hard to believe that there is no bias at all in the initial hiring of women for tenure-track university positions in STEM disciplines. Progressives tend to deny the consensus view that genetically modified organisms are safe to consume. Gender feminists routinely deny biological facts about sex differences. Largely Democratic cities and university towns are at the forefront of the anti-vaccine movement which denies a scientific consensus. In the same cities and towns, people find it hard to believe that there is a strong consensus among economists that rent control causes housing shortages and a diminution in the quality of housing. [Research citations for all the above are available from the author here.]

...

More formal studies have indicated that there are few differences in factual knowledge of the world between Republicans and Democrats. The Pew Research Center reported one of its News IQ surveys in 2015 (What the Public Knows, April 28, 2015) and found very few partisan differences. People in the sample answered 12 questions about current events (identifying the route of the Keystone XL pipeline; knowledge of how many Supreme Court justices are women; etc.) and the Republicans outperformed the Democrats on 7 of the 12 items. Democrats outperformed the Republicans on 5 of the items. On average, the Republicans in the sample answered 8.3 items correctly, the Democrats answered 7.9 items correctly, and the independents answered 8.0 items correctly.

...

Measures of so-called “knowledge” in such a domain are easily skewed in a partisan manner by selection effects. This is a version of the “party of science” problem discussed previously. Whether the Democrats or the Republicans are the “party of science” depends entirely on how the issue in question is selected. The 17-item measure used by Klein was relatively balanced (8 items biased against leftists and 9 items biased against conservatives). With all the caveats in place about the difficulty of item matching, the weak conclusion that can be drawn is that existing research provides no evidence for the view that conservatives are deficient in the domain of economic knowledge—a domain critical for rational voting behavior.
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january 2017 by nhaliday
Is developer compensation becoming bimodal?
interesting aside:
When I was at Google, one thing that was remarkable to me was that they'd pay you approximately the same thing in a small Midwestern town as in Silicon Valley, but they'd pay you much less in London. Whenever one of these discussions comes up, people always bring up the "fact" that SV salaries aren't really as good as they sound because the cost of living is so high, but companies will not only match SV offers in Seattle, they'll match them in places like Madison, Wisconsin. My best guess for why this happens is that someone in the Midwest can credibly threaten to move to SV and take a job at any company there, whereas someone in London can't2.
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september 2016 by nhaliday
Lead: America's Real Criminal Element | Mother Jones
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july 2016 by nhaliday
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