nhaliday + trade   136

Some points from Peter Thiel (?) - Marginal REVOLUTION
speech at National Conservative Convention, a lot of his standard talking points (college bad, institutions bad, tech progress limited to CS/oil energy, going into other STEM fields would have been a bad idea a couple decades ago, China is a threat, free trade dogma too strong, etc.)
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3 days ago by nhaliday
Hardware is unforgiving
Today, anyone with a CS 101 background can take Geoffrey Hinton's course on neural networks and deep learning, and start applying state of the art machine learning techniques in production within a couple months. In software land, you can fix minor bugs in real time. If it takes a whole day to run your regression test suite, you consider yourself lucky because it means you're in one of the few environments that takes testing seriously. If the architecture is fundamentally flawed, you pull out your copy of Feathers' “Working Effectively with Legacy Code” and you apply minor fixes until you're done.

This isn't to say that software isn't hard, it's just a different kind of hard: the sort of hard that can be attacked with genius and perseverance, even without experience. But, if you want to build a ship, and you "only" have a decade of experience with carpentry, milling, metalworking, etc., well, good luck. You're going to need it. With a large ship, “minor” fixes can take days or weeks, and a fundamental flaw means that your ship sinks and you've lost half a year of work and tens of millions of dollars. By the time you get to something with the complexity of a modern high-performance microprocessor, a minor bug discovered in production costs three months and five million dollars. A fundamental flaw in the architecture will cost you five years and hundreds of millions of dollars2.

Physical mistakes are costly. There's no undo and editing isn't simply a matter of pressing some keys; changes consume real, physical resources. You need enough wisdom and experience to avoid common mistakes entirely – especially the ones that can't be fixed.
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4 weeks ago by nhaliday
One week of bugs
If I had to guess, I'd say I probably work around hundreds of bugs in an average week, and thousands in a bad week. It's not unusual for me to run into a hundred new bugs in a single week. But I often get skepticism when I mention that I run into multiple new (to me) bugs per day, and that this is inevitable if we don't change how we write tests. Well, here's a log of one week of bugs, limited to bugs that were new to me that week. After a brief description of the bugs, I'll talk about what we can do to improve the situation. The obvious answer to spend more effort on testing, but everyone already knows we should do that and no one does it. That doesn't mean it's hopeless, though.

...

Here's where I'm supposed to write an appeal to take testing more seriously and put real effort into it. But we all know that's not going to work. It would take 90k LOC of tests to get Julia to be as well tested as a poorly tested prototype (falsely assuming linear complexity in size). That's two person-years of work, not even including time to debug and fix bugs (which probably brings it closer to four of five years). Who's going to do that? No one. Writing tests is like writing documentation. Everyone already knows you should do it. Telling people they should do it adds zero information1.

Given that people aren't going to put any effort into testing, what's the best way to do it?

Property-based testing. Generative testing. Random testing. Concolic Testing (which was done long before the term was coined). Static analysis. Fuzzing. Statistical bug finding. There are lots of options. Some of them are actually the same thing because the terminology we use is inconsistent and buggy. I'm going to arbitrarily pick one to talk about, but they're all worth looking into.

...

There are a lot of great resources out there, but if you're just getting started, I found this description of types of fuzzers to be one of those most helpful (and simplest) things I've read.

John Regehr has a udacity course on software testing. I haven't worked through it yet (Pablo Torres just pointed to it), but given the quality of Dr. Regehr's writing, I expect the course to be good.

For more on my perspective on testing, there's this.

https://hypothesis.works/articles/the-purpose-of-hypothesis/
From the perspective of a user, the purpose of Hypothesis is to make it easier for you to write better tests.

From my perspective as the primary author, that is of course also a purpose of Hypothesis. I write a lot of code, it needs testing, and the idea of trying to do that without Hypothesis has become nearly unthinkable.

But, on a large scale, the true purpose of Hypothesis is to drag the world kicking and screaming into a new and terrifying age of high quality software.

Software is everywhere. We have built a civilization on it, and it’s only getting more prevalent as more services move online and embedded and “internet of things” devices become cheaper and more common.

Software is also terrible. It’s buggy, it’s insecure, and it’s rarely well thought out.

This combination is clearly a recipe for disaster.

The state of software testing is even worse. It’s uncontroversial at this point that you should be testing your code, but it’s a rare codebase whose authors could honestly claim that they feel its testing is sufficient.

Much of the problem here is that it’s too hard to write good tests. Tests take up a vast quantity of development time, but they mostly just laboriously encode exactly the same assumptions and fallacies that the authors had when they wrote the code, so they miss exactly the same bugs that you missed when they wrote the code.

Preventing the Collapse of Civilization [video]: https://news.ycombinator.com/item?id=19945452
- Jonathan Blow

NB: DevGAMM is a game industry conference

- loss of technological knowledge (Antikythera mechanism, aqueducts, etc.)
- hardware driving most gains, not software
- software's actually less robust, often poorly designed and overengineered these days
- *list of bugs he's encountered recently*:
https://youtu.be/pW-SOdj4Kkk?t=1387
- knowledge of trivia becomes more than general, deep knowledge
- does at least acknowledge value of DRY, reusing code, abstraction saving dev time
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7 weeks ago by nhaliday
SocArXiv Papers | Gender, Religion, and Values: A Cross-National Examination of Moral Justification and Partisanship
Using data from a diverse set of 56 countries in the World Values Survey (N=85,181), I find that religiousness suppresses what would otherwise be larger and more consistent gender differences in values among Christians. Among most other groups, including Jews, Hindus, Buddhists, Taoists, and Muslims in non-Muslim contexts, religiousness does not greatly alter gender differences in values. However, among Muslims in Muslim-majority contexts—where men tend to be more religious than women—religiousness amplifies what would otherwise be smaller gender differences in values. Accordingly, gender differences in values tend to be larger among Muslims than Christians. I conclude that religions are complex and powerful social structures that can complicate group differences in values
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april 2018 by nhaliday
Mistakes happen for a reason | Bloody shovel
Which leads me to this article by Scott Alexander. He elaborates on an idea by one of his ingroup about their being two ways of looking at things, “mistake theory” and “conflict theory”. Mistake theory claims that political opposition comes from a different understanding of issues: if people had the same amount of knowledge and proper theories to explain it, they would necessarily agree. Conflict theory states that people disagree because their interests conflict, the conflict is zero-sum so there’s no reason to agree, the only question is how to resolve the conflict.

I was speechless. I am quite used to Mr. Alexander and his crowd missing the point on purpose, but this was just too much. Mistake theory and Conflict theory are not parallel things. “Mistake theory” is just the natural, tribalist way of thinking. It assumes an ingroup, it assumes the ingroup has a codified way of thinking about things, and it interprets all disagreement as a lack of understanding of the obviously objective and universal truths of the ingroup religion. There is a reason why liberals call “ignorant” all those who disagree with them. Christians used to be rather more charitable on this front and asked for “faith”, which they also assumed was difficult to achieve.

Conflict theory is one of the great achievements of the human intellect; it is an objective, useful and predictively powerful way of analyzing human disagreement. There is a reason why Marxist historiography revolutionized the world and is still with us: Marx made a strong point that human history was based on conflict. Which is true. It is tautologically true. If you understand evolution it stands to reason that all social life is about conflict. The fight for genetical survival is ultimately zero-sum, and even in those short periods of abundance when it is not, the fight for mating supremacy is very much zero-sum, and we are all very much aware of that today. Marx focused on class struggle for political reasons, which is wrong, but his focus on conflict was a gust of fresh air for those who enjoy objective analysis.

Incidentally the early Chinese thinkers understood conflict theory very well, which is why Chinese civilization is still around, the oldest on earth. A proper understanding of conflict does not come without its drawbacks, though. Mistakes happen for a reason. Pat Buchanan actually does understand why USG open the doors to trade with China. Yes, Whig history was part of it, but that’s just the rhetoric used to justify the idea. The actual motivation to trade with China was making money short term. Lots of money. Many in the Western elite have made huge amounts of money with the China trade. Money that conveniently was funneled to whichever political channels it had to do in order to keep the China trade going. Even without Whig history, even without the clueless idea that China would never become a political great power, the short-term profits to be made were big enough to capture the political process in the West and push for it. Countries don’t have interests: people do.

That is true, and should be obvious, but there are dangers to the realization. There’s a reason why people dislike cynics. People don’t want to know the truth. It’s hard to coordinate around the truth, especially when the truth is that humans are selfish assholes constantly in conflict. Mistakes happen because people find it convenient to hide the truth; and “mistake theory” happens because policing the ingroup patterns of thought, limiting the capability of people of knowing too much, is politically useful. The early Chinese kingdoms developed a very sophisticated way of analyzing objective reality. The early kingdoms were also full of constant warfare, rebellions and elite betrayals; all of which went on until the introduction in the 13th century of a state ideology (neoconfucianism) based on complete humbug and a massively unrealistic theory on human nature. Roman literature is refreshingly objective and to the point. Romans were also murderous bastards who assassinated each other all the time. It took the massive pile of nonsense which we call the Christian canon to get Europeans to cooperate in a semi-stable basis.

But guess what? Conflict theory also exists for a reason. And the reason is to extricate oneself from the ingroup, to see things how they actually are, and to undermine the state religion from the outside. Marxists came up with conflict theory because they knew they had little to expect from fighting from within the system. Those low-status workers who still regarded their mainstream society as being the ingroup they very sharply called “alienated”, and by using conflict theory they showed what the ingroup ideology was actually made of. Pat Buchanan and his cuck friends should take the message and stop assuming that the elite is playing for the same team as they are. The global elite, of America and its vassals, is not mistaken. They are playing for themselves: to raise their status above yours, to drop their potential rivals into eternal misery and to rule forever over them. China, Syria, and everything else, is about that.

https://bloodyshovel.wordpress.com/2018/03/09/mistakes-happen-for-a-reason/#comment-18834
Heh heh. It’s a lost art. The Greeks and Romans were realists about it (except Cicero, that idealistic bastard). They knew language, being the birthright of man, was just another way (and a damn powerful one) to gain status, make war, and steal each other’s women. Better be good at wielding it.
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march 2018 by nhaliday
Information Processing: US Needs a National AI Strategy: A Sputnik Moment?
FT podcasts on US-China competition and AI: http://infoproc.blogspot.com/2018/05/ft-podcasts-on-us-china-competition-and.html

A new recommended career path for effective altruists: China specialist: https://80000hours.org/articles/china-careers/
Our rough guess is that it would be useful for there to be at least ten people in the community with good knowledge in this area within the next few years.

By “good knowledge” we mean they’ve spent at least 3 years studying these topics and/or living in China.

We chose ten because that would be enough for several people to cover each of the major areas listed (e.g. 4 within AI, 2 within biorisk, 2 within foreign relations, 1 in another area).

AI Policy and Governance Internship: https://www.fhi.ox.ac.uk/ai-policy-governance-internship/

https://www.fhi.ox.ac.uk/deciphering-chinas-ai-dream/
https://www.fhi.ox.ac.uk/wp-content/uploads/Deciphering_Chinas_AI-Dream.pdf
Deciphering China’s AI Dream
The context, components, capabilities, and consequences of
China’s strategy to lead the world in AI

Europe’s AI delusion: https://www.politico.eu/article/opinion-europes-ai-delusion/
Brussels is failing to grasp threats and opportunities of artificial intelligence.
By BRUNO MAÇÃES

When the computer program AlphaGo beat the Chinese professional Go player Ke Jie in a three-part match, it didn’t take long for Beijing to realize the implications.

If algorithms can already surpass the abilities of a master Go player, it can’t be long before they will be similarly supreme in the activity to which the classic board game has always been compared: war.

As I’ve written before, the great conflict of our time is about who can control the next wave of technological development: the widespread application of artificial intelligence in the economic and military spheres.

...

If China’s ambitions sound plausible, that’s because the country’s achievements in deep learning are so impressive already. After Microsoft announced that its speech recognition software surpassed human-level language recognition in October 2016, Andrew Ng, then head of research at Baidu, tweeted: “We had surpassed human-level Chinese recognition in 2015; happy to see Microsoft also get there for English less than a year later.”

...

One obvious advantage China enjoys is access to almost unlimited pools of data. The machine-learning technologies boosting the current wave of AI expansion are as good as the amount of data they can use. That could be the number of people driving cars, photos labeled on the internet or voice samples for translation apps. With 700 or 800 million Chinese internet users and fewer data protection rules, China is as rich in data as the Gulf States are in oil.

How can Europe and the United States compete? They will have to be commensurately better in developing algorithms and computer power. Sadly, Europe is falling behind in these areas as well.

...

Chinese commentators have embraced the idea of a coming singularity: the moment when AI surpasses human ability. At that point a number of interesting things happen. First, future AI development will be conducted by AI itself, creating exponential feedback loops. Second, humans will become useless for waging war. At that point, the human mind will be unable to keep pace with robotized warfare. With advanced image recognition, data analytics, prediction systems, military brain science and unmanned systems, devastating wars might be waged and won in a matter of minutes.

...

The argument in the new strategy is fully defensive. It first considers how AI raises new threats and then goes on to discuss the opportunities. The EU and Chinese strategies follow opposite logics. Already on its second page, the text frets about the legal and ethical problems raised by AI and discusses the “legitimate concerns” the technology generates.

The EU’s strategy is organized around three concerns: the need to boost Europe’s AI capacity, ethical issues and social challenges. Unfortunately, even the first dimension quickly turns out to be about “European values” and the need to place “the human” at the center of AI — forgetting that the first word in AI is not “human” but “artificial.”

https://twitter.com/mr_scientism/status/983057591298351104
https://archive.is/m3Njh
US military: "LOL, China thinks it's going to be a major player in AI, but we've got all the top AI researchers. You guys will help us develop weapons, right?"

US AI researchers: "No."

US military: "But... maybe just a computer vision app."

US AI researchers: "NO."

https://www.theverge.com/2018/4/4/17196818/ai-boycot-killer-robots-kaist-university-hanwha
https://www.nytimes.com/2018/04/04/technology/google-letter-ceo-pentagon-project.html
https://twitter.com/mr_scientism/status/981685030417326080
https://archive.is/3wbHm
AI-risk was a mistake.
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february 2018 by nhaliday
What Peter Thiel thinks about AI risk - Less Wrong
TL;DR: he thinks its an issue but also feels AGI is very distant and hence less worried about it than Musk.

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

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

other stuff:
nice interview question: "thing you know is true that not everyone agrees on?"
"learning from failure overrated"
cleantech a huge market, hard to compete
software makes for easy monopolies (zero marginal costs, network effects, etc.)
for most of history inventors did not benefit much (continuous competition)
ethical behavior is a luxury of monopoly
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february 2018 by nhaliday
National Defense Strategy of the United States of America
National Defense Strategy released with clear priority: Stay ahead of Russia and China: https://www.defensenews.com/breaking-news/2018/01/19/national-defense-strategy-released-with-clear-priority-stay-ahead-of-russia-and-china/

https://twitter.com/AngloRemnant/status/985341571410341893
https://archive.is/RhBdG
https://archive.is/wRzRN
A saner allocation of US 'defense' funds would be something like 10% nuclear trident, 10% border patrol, & spend the rest innoculating against cyber & biological attacks.
and since the latter 2 are hopeless, just refund 80% of the defense budget.
--
Monopoly on force at sea is arguably worthwhile.
--
Given the value of the US market to any would-be adversary, id be willing to roll the dice & let it ride.
--
subs are part of the triad, surface ships are sitting ducks this day and age
--
But nobody does sink them, precisely because of the monopoly on force. It's a path-dependent equilibirum where (for now) no other actor can reap the benefits of destabilizing the monopoly, and we're probably drastically underestimating the ramifications if/when it goes away.
--
can lethal autonomous weapon systems get some
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january 2018 by nhaliday
The Grumpy Economist: Bitcoin and Bubbles
Bitcoin is not a very good money. It is a pure fiat money (no backing), whose value comes from limited supply plus these demands. As such it has the huge price fluctuations we see. It's an electronic version of gold, and the price variation should be a warning to economists who long for a return to  gold. My bet is that stable-value cryptocurrencies, offering one dollar per currency unit and low transactions costs, will prosper in the role of money. At least until there is a big inflation or sovereign debt crisis and a stable-value cryptocurrency not linked to government debt emerges.

https://twitter.com/GarettJones/status/939242620869660672
https://archive.is/Rrbg6
The Kareken-Wallace Cryptocurrency Price Indeterminacy theorem will someday receive the attention it deserves

https://www.mercatus.org/system/files/cryptocurrency-article.pdf
Cryptocurrencies also raise in a new way questions of exchange rate indeterminacy. As Kareken and Wallace (1981) observed, fiat currencies are all alike: slips of paper not redeemable for anything. Under a regime of floating exchange rates and no capital controls, and assuming some version of interest rate parity holds, there are an infinity of exchange rates between any two fiat currencies that constitute an equilibrium in their model.

The question of exchange rate indeterminacy is both more and less striking between cryptocurrencies than between fiat currencies. It is less striking because there are considerably more differences between cryptocurrencies than there are between paper money. Paper money is all basically the same. Cryptocurrencies sometimes have different characteristics from each other. For example, the algorithm used as the basis for mining makes a difference – it determines how professionalised the mining pools become. Litecoin uses an algorithm that tends to make mining less concentrated. Another difference is the capability of the cryptocurrency’s language for programming transactions. Ethereum is a new currency that boasts a much more robust language than Bitcoin. Zerocash is another currency that offers much stronger anonymity than Bitcoin. To the extent that cryptocurrencies differ from each other more than fiat currencies do, those differences might be able to pin down exchange rates in a model like Kareken and Wallace’s.

On the other hand, exchange rate indeterminacy could be more severe among cryptocurrencies than between fiat currencies because it is easy to simply create an exact copy of an open source cryptocurrency. There are even websites on which you can create and download the software for your own cryptocurrency with a few clicks of a mouse. These currencies are exactly alike except for their names and other identifying information. Furthermore, unlike fiat currencies, they don’t benefit from government acceptance or optimal currency area considerations that can tie a currency to a given territory.

Even identical currencies, however, can differ in terms of the quality of governance. Bitcoin currently has high quality governance institutions. The core developers are competent and conservative, and the mining and user communities are serious about making the currency work. An exact Bitcoin clone is likely to have a difficult time competing with Bitcoin unless it can promise similarly high-quality governance. When a crisis hits, users of identical currencies are going to want to hold the one that is mostly likely to weather the storm. Consequently, between currencies with identical technical characteristics, we think governance creates something close to a winner-take-all market. Network externalities are very strong in payment systems, and the governance question with respect to cryptocurrencies in particular compounds them.

https://twitter.com/GarettJones/status/939259281039380480
https://archive.is/ldof8
Explaining a price rise via future increases in the asset's value isn't good economics. The invisible hand should be pushing today's price up to the point where it earns normal expected returns. +
I don't doubt the likelihood of a future cryptocurrency being widely used, but that doesn't pin down the price of any one cryptocurrency as the Kareken-Wallace result shows. There may be a big first mover advantage for Bitcoin but ease of replication makes it a fragile dominance.

https://twitter.com/netouyo_/status/939566116229218306
https://archive.is/CtE6Q
I actually can't believe governments are allowing bitcoin to exist (they must be fully on board with going digital at some point)

btc will eventually come in direct competition with national currencies, which will have to raise rates dramatically, or die

http://www.thebigquestions.com/2017/12/08/matters-of-money/
The technology of Bitcoin Cash is very similar to the technology of Bitcoin. It offers the same sorts of anonymity, security, and so forth. There are some reasons to believe that in the future, Bitcoin Cash will be a bit easier to trade than Bitcoin (though that is not true in the present), and there are some other technological differences between them, but I’d be surprised to learn that those differences are accounting for any substantial fraction of the price differential.

The total supplies of Bitcoins and of Bitcoin Cash are currently about equal (because of the way that Bitcoin Cash originated). In each case, the supply will gradually grow to 21 million and then stop.

Question 1: Given the near identical properties of these two currencies, how can one sell for ten times the price of the other? Perhaps the answer involves the word “bubble”, but I’d be more interested in answers that assume (at least for the sake of argument) that the price of Bitcoin fairly reflects its properties as a store of value. Given that assumption, is the price differential entirely driven by the fact that Bitcoin came first? Is there that much of a first-mover advantage in this kind of game?

Question 2: Given the existence of other precious metals (e.g. platinum) what accounts for the dominance of gold as a physical store of value? (I note, for example, that when people buy gold as a store of value, they don’t often hesitate out of fear that gold will be displaced by platinum in the foreseeable future.) Is this entirely driven by the fact that gold happened to come first?

Question 3: Are Questions 1 and 2 the same question? Are the dominance of Bitcoin in the digital store-of-value market and the dominance of gold in the physical store-of-value market two sides of the same coin, so to speak? Or do they require fundamentally different explanations?

https://twitter.com/GarettJones/status/944582032780382208
https://archive.is/kqTXg
Champ/Freeman in 2001 explain why the dollar-bitcoin exchange rate is inherently unstable, and why the price of cryptocurrencies is indeterminate:

https://twitter.com/GarettJones/status/945046058073071617
https://archive.is/Y0OQB
Lay down a marker:
And remember that the modern macro dogma is that monetary systems matter little for prosperity, once bare competence is achieved.
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december 2017 by nhaliday
Information Processing: Remarks on the Decline of American Empire
1. US foreign policy over the last decades has been disastrous -- trillions of dollars and thousands of lives expended on Middle Eastern wars, culminating in utter defeat. This defeat is still not acknowledged among most of the media or what passes for intelligentsia in academia and policy circles, but defeat it is. Iran now exerts significant control over Iraq and a swath of land running from the Persian Gulf to the Mediterranean. None of the goals of our costly intervention have been achieved. We are exhausted morally, financially, and militarily, and still have not fully extricated ourselves from a useless morass. George W. Bush should go down in history as the worst US President of the modern era.

2. We are fortunate that the fracking revolution may lead to US independence from Middle Eastern energy. But policy elites have to fully recognize this possibility and pivot our strategy to reflect the decreased importance of the region. The fracking revolution is a consequence of basic research from decades ago (including investment from the Department of Energy) and the work of private sector innovators and risk-takers.

3. US budget deficits are a ticking time bomb, which cripple investment in basic infrastructure and also in research that creates strategically important new technologies like AI. US research spending has been roughly flat in inflation adjusted dollars over the last 20 years, declining as a fraction of GDP.

4. Divisive identity politics and demographic trends in the US will continue to undermine political cohesion and overall effectiveness of our institutions. ("Civilizational decline," as one leading theoretical physicist observed to me recently, remarking on our current inability to take on big science projects.)

5. The Chinese have almost entirely closed the technology gap with the West, and dominate important areas of manufacturing. It seems very likely that their economy will eventually become significantly larger than the US economy. This is the world that strategists have to prepare for. Wars involving religious fanatics in unimportant regions of the world should not distract us from a possible future conflict with a peer competitor that threatens to match or exceed our economic, technological, and even military capability.

However, I'm not sure that OBOR (One Belt One Road) and a focus on the "world island" of Eurasia will be a winning strategy for China. Mackinder's dream of a unified or even fully economically integrated world island will have to overcome the limitations (in human capital, institutions, culture, etc.) of the under-developed middle...

The belt-and-road express: China faces resistance to a cherished theme of its foreign policy: http://www.economist.com/news/china/21721678-silk-routes-are-not-always-appealing-they-sound-china-faces-resistance-cherished-theme

The staggering scale of China's Belt and Road initiative: https://www.axios.com/staggering-scale-china-infrastructure-142f3b1d-82b5-47b8-8ca9-57beb306f7df.html
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november 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.
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november 2017 by nhaliday
Race, Religion, and Immigration in… | Democracy Fund Voter Study Group
Figure 2 The Relationship between 2011 Attitudes and Vote Choices in 2012

Third, although perceptions of the economy are related to vote choice in both years—unsurprisingly, people who believed the economy was doing worse were more likely to vote for the out-party Republicans—its effect is similar in both years. This suggests that the 2016 vote choice was not uniquely about “economic anxiety.”

The results also show that certain factors were less strongly related to voters’ choice in 2016 than they were in 2012: social issue attitudes, economic issue attitudes, and, more notably, party identification. The smaller impact of party identification reflects the larger number of defections in 2016, as compared to 2012.

What stands out most, however, is the attitudes that became more strongly related to the vote in 2016: attitudes about immigration, feelings toward black people, and feelings toward Muslims. This pattern fits the prevailing discourse of the two campaigns and the increased attention to issues involving ethnic, racial, and religious minorities in 2016.(v)
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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.
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november 2017 by nhaliday
Indiana Jones, Economist?! - Marginal REVOLUTION
In a stunningly original paper Gojko Barjamovic, Thomas Chaney, Kerem A. Coşar, and Ali Hortaçsu use the gravity model of trade to infer the location of lost cities from Bronze age Assyria! The simplest gravity model makes predictions about trade flows based on the sizes of cities and the distances between them. More complicated models add costs based on geographic barriers. The authors have data from ancient texts on trade flows between all the cities, they know the locations of some of the cities, and they know the geography of the region. Using this data they can invert the gravity model and, triangulating from the known cities, find the lost cities that would best “fit” the model. In other words, by assuming the model is true the authors can predict where the lost cities should be located. To test the idea the authors pretend that some known cities are lost and amazingly the model is able to accurately rediscover those cities.
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november 2017 by nhaliday
The Political Typology: Beyond Red vs. Blue | Pew Research Center
The new typology has eight groups: Three are strongly ideological, highly politically engaged and overwhelmingly partisan – two on the right and one on the left. Steadfast Conservatives are staunch critics of government and the social safety net and are very socially conservative. Business Conservatives share Steadfast Conservatives’ preference for limited government, but differ in their support for Wall Street and business, as well as immigration reform. And Business Conservatives are far more moderate on social issues than are Steadfast Conservatives.

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

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

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

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

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

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

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

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

...

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

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

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

...

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

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

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

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

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

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

...

Divisions on the right

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

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

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

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

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

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

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

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

Divisions on the left

...

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

Solid Liberals are the largest group in the Democratic coalition, and they make up close to half (48%) of politically engaged Democrats and Democratic-leaning … [more]
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october 2017 by nhaliday
Beijing’s uneasy deals with overseas car groups under strain
The new EV joint ventures are part of a Chinese effort to master the technology for electric vehicles — and rely on a tried and tested model of working with the global car industry since the 1980s. In a nutshell, joint ventures are the only way for foreign groups to access the world’s largest and most lucrative market. China gives the overseas companies the right to sell cars in exchange for their technology, management expertise and a share of their profits. 

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

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

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

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

...

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

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

...

Weeks later Miao Wei, minister of industry and information technology, told a press conference that the notion foreign companies would have to transfer technology to Chinese companies was a “misunderstanding”. 
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september 2017 by nhaliday
The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade
Adjustment in local labor markets is remarkably slow, with wages and labor-force participation rates remaining depressed and unemployment rates remaining elevated for at least a full decade after the China trade shock commences. Exposed workers experience greater job churning and reduced lifetime income. At the national level, employment has fallen in the US industries more exposed to import competition, as expected, but offsetting employment gains in other industries have yet to materialize.

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

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

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

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

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

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

The China Shock was Matched by a China Boom: http://marginalrevolution.com/marginalrevolution/2018/01/china-shock-matched-china-boom.html
Our results fit the textbook story that job opportunities in exports make up for jobs lost in import-competing industries, or nearly so. Once we consider the export side, the negative employment effect of trade is much smaller than is implied in the previous literature. Although our analysis finds net job losses in the manufacturing sector for the US, there are remarkable job gains in services, suggesting that international trade has an impact on the labour market according to comparative advantage. The US has comparative advantages in services, so that overall trade led to higher employment through the increased demand for service jobs.
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august 2017 by nhaliday
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]
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august 2017 by nhaliday
Dead Souls: The Denationalization of the American Elite
- Huntington, 2004

https://twitter.com/tcjfs/status/889953571650891776

The views of the general public on issues of national identity differ significantly from those of many elites. The public, overall, is concerned with physical security but also with societal security, which involves the sustainability--within acceptable conditions for evolution--of existing patterns of language, culture, association, religion and national identity. For many elites, these concerns are secondary to participating in the global economy, supporting international trade and migration, strengthening international institutions, promoting American values abroad, and encouraging minority identities and cultures at home. The central distinction between the public and elites is not isolationism versus internationalism, but nationalism versus cosmopolitanism.

...

Estimated to number about 20 million in 2000, of whom 40 percent were American, this elite is expected to double in size by 2010. Comprising fewer than 4 percent of the American people, these transnationalists have little need for national loyalty, view national boundaries as obstacles that thankfully are vanishing, and see national governments as residues from the past whose only useful function is to facilitate the elite's global operations. In the coming years, one corporation executive confidently predicted, "the only people who will care about national boundaries are politicians."

...

In August 1804, Walter Scott finished writing The Lay of the Last Minstrel. Therein, he
asked whether

"Breathes there the man with soul so dead
Who never to himself hath said:
'This is my own, my native Land?'
Whose heart hath ne'er within him burned
As home his footsteps he hath turned, . . .
From wandering on a foreign strand?"

A contemporary answer to Scott's question is: Yes, the number of dead souls is small
but growing among America's business, professional, intellectual and academic elites.
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july 2017 by nhaliday
The Myth of the Barter Economy - The Atlantic
When barter has appeared, it wasn’t as part of a purely barter economy, and money didn’t emerge from it—rather, it emerged from money. After Rome fell, for instance, Europeans used barter as a substitute for the Roman currency people had gotten used to. “In most of the cases we know about, [barter] takes place between people who are familiar with the use of money, but for one reason or another, don’t have a lot of it around,” explains David Graeber, an anthropology professor at the London School of Economics.

So if barter never existed, what did? Anthropologists describe a wide variety of methods of exchange—none of which are of the “two-cows-for-10-bushels-of-wheat” variety.

Communities of Iroquois Native Americans, for instance, stockpiled their goods in longhouses. Female councils then allocated the goods, explains Graeber. Other indigenous communities relied on “gift economies,” which went something like this: If you were a baker who needed meat, you didn’t offer your bagels for the butcher’s steaks. Instead, you got your wife to hint to the butcher’s wife that you two were low on iron, and she’d say something like “Oh really? Have a hamburger, we’ve got plenty!” Down the line, the butcher might want a birthday cake, or help moving to a new apartment, and you’d help him out.
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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.
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july 2017 by nhaliday
SPIEGEL Interview with Singapore's Lee Kuan Yew: "It's Stupid to be Afraid" - SPIEGEL ONLINE
SPIEGEL: How so?

Mr. Lee: The social contract that led to workers sitting on the boards of companies and everybody being happy rested on this condition: I work hard, I restore Germany's prosperity, and you, the state, you have to look after me. I'm entitled to go to Baden Baden for spa recuperation one month every year. This old system was gone in the blink of an eye when two to three billion people joined the race -- one billion in China, one billion in India and over half-a-billion in Eastern Europe and the former Soviet Union.

SPIEGEL: The question is: How do you answer that challenge?

Mr. Lee: Chancellor Kohl tried to do it. He did it halfway then he had to pause. Schroeder tried to do it, now he's in a jam and has called an election. Merkel will go in and push, then she will get hammered before she can finish the job, but each time, they will push the restructuring a bit forward.

SPIEGEL: You think it's too slow?

Mr. Lee: It is painful because it is so slow. If your workers were rational they would say, yes, this is going to happen anyway, let's do the necessary things in one go. Instead of one month at the spa, take one week at the spa, work harder and longer for the same pay, compete with the East Europeans, invent in new technology, put more money into your R&D, keep ahead of the Chinese and the Indians.

...

SPIEGEL: During your career, you have kept your distance from Western style democracy. Are you still convinced that an authoritarian system is the future for Asia?

Mr. Lee: Why should I be against democracy? The British came here, never gave me democracy, except when they were about to leave. But I cannot run my system based on their rules. I have to amend it to fit my people's position. In multiracial societies, you don't vote in accordance with your economic interests and social interests, you vote in accordance with race and religion. Supposing I'd run their system here, Malays would vote for Muslims, Indians would vote for Indians, Chinese would vote for Chinese. I would have a constant clash in my Parliament which cannot be resolved because the Chinese majority would always overrule them. So I found a formula that changes that...
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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)
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june 2017 by nhaliday
Double world GDP | Open Borders: The Case
Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?: https://www.aeaweb.org/articles?id=10.1257/jep.25.3.83
https://openborders.info/innovation-case/
https://www.economist.com/news/world-if/21724907-yes-it-would-be-disruptive-potential-gains-are-so-vast-objectors-could-be-bribed
The Openness-Equality Trade-Off in Global Redistribution: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2509305
https://www.wsj.com/articles/opening-our-borders-would-overwhelm-america-1492366053
Immigration, Justice, and Prosperity: http://quillette.com/2017/07/29/immigration-justice-prosperity/

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

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

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

Why nation-states are good: https://aeon.co/essays/capitalists-need-the-nation-state-more-than-it-needs-them
The nation-state remains the best foundation for capitalism, and hyper-globalisation risks destroying it
- Dani Rodrik
Given the non-uniqueness of practices and institutions enabling capitalism, it’s not surprising that nation-states also resolve key social trade-offs differently. The world does not agree on how to balance equality against opportunity, economic security against innovation, health and environmental risks against technological innovation, stability against dynamism, economic outcomes against social and cultural values, and many other consequences of institutional choice. Developing nations have different institutional requirements than rich nations. There are, in short, strong arguments against global institutional harmonisation.
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june 2017 by nhaliday
How important was colonial trade for the rise of Europe? | Economic Growth in History
The latter view became the orthodoxy among economists and economic historians after Patrick O’Brien’s 1982 paper, which in one of many of Patrick’s celebrated phrases, claims that “”the periphery vs peripheral” for Europe. He concludes the paper by writing:

“[G]rowth, stagnation, and decay everywhere in Western Europe can be explained mainly by reference to endogenous forces. … for the economic growth of the core, the periphery was peripheral.”

This is the view that remarkable scholars such as N. Crafts, Deirdre McCloskey, or Joel Mokyr repeat today (though Crafts would argue cotton imports would have mattered in a late stage, and my reading of Mokyr is that he has softened his earlier view from the 1980s a little, specifically in the book The Enlightened Economy.) Even recently, Brad deLong has classifyied O’Brien’s 1982 position as “air tight”.

Among economists and economic historians more on the economics side, I would say that O’Brien’s paper was only one of two strong hits against the “Worlds-System” and related schools of thoughts of the 1970s, the other hit being Solow’s earlier conclusion that TFP growth (usually interpreted as technology, though there’s more to it than that) has accounted for economic growth a great deal more than capital accumulation, which is what Hobsbawm and Wallerstein, in their neo-Marxist framework, emphasize.

https://twitter.com/tcjfs/status/890034395456974848
A friend tonight, on the third world and the first world, and our relationships to the past: "They don't forget, and we don't remember."
https://twitter.com/edwest/status/872337163458932736
imo the European Intifada is being fueled by anti-Europeanism & widely taught ideas like this one discussed - Europe stole its riches

https://www.thinkpragati.com/opinion/1863/dont-blame-empire/
The British Empire was cruel, rapacious and racist. But contrary to what Shashi Tharoor writes in An Era Of Darkness, the fault for India’s miseries lies upon itself.

Indeed, the anti-Tharoor argument is arguably closer to the truth, because the British tended to use the landlord system in places where landlords were already in place, and at times when the British were relatively weak and couldn’t afford to upset tradition. Only after they became confident in their power did the British start to bypass the landlord class and tax the cultivators directly. King’s College London historian Jon Wilson (2016) writes in India Conquered, “Wherever it was implemented, raiyatwar began as a form of military rule.” Thus the system that Tharoor implicitly promotes, and which is associated with higher agricultural productivity today, arose from the very same colonialism that he blames for so many of India’s current woes. History does not always tell the parables that we wish to hear.

...

India’s share of the world economy was large in the eighteenth century for one simple reason: when the entire world was poor, India had a large share of the world’s population. India’s share fell because with the coming of the Industrial Revolution, Europe and North America saw increases of income per capita to levels never before seen in all of human history. This unprecedented growth cannot be explained by Britain’s depredations against India. Britain was not importing steam engines from India.

The big story of the Great Divergence is not that India got poorer, but that other countries got much richer. Even at the peak of Mughal wealth in 1600, the best estimates of economic historians suggest that GDP per capita was 61% higher in Great Britain. By 1750–before the battle of Plassey and the British takeover–GDP per capita in Great Britain was more than twice what it was in India (Broadberry, Custodis, and Gupta 2015). The Great Divergence has long roots.

Tharoor seems blinded by the glittering jewels of the Maharajas and the Mughals. He writes with evident satisfaction that when in 1615 the first British ambassador presented himself to the court of Emperor Jehangir in Agra, “the Englishman was a supplicant at the feet of the world’s mightiest and most opulent monarch.” True; but the Emperor’s opulence was produced on the backs of millions of poor subjects. Writing at the same time and place, the Dutch merchant Francisco Pelsaert (1626) contrasted the “great superfluity and absolute power” of the rich with “the utter subjection and poverty of the common people–poverty so great and miserable that the life of the people can be depicted…only as the home of stark want and the dwelling-place of bitter woe.” Indian rulers were rich because the empire was large and inequality was extreme.

In pre-colonial India the rulers, both Mughal and Maratha, extracted _anywhere from one-third to one half of all gross agricultural output_ and most of what was extracted was spent on opulence and the armed forces, not on improving agricultural productivity (Raychaudhuri 1982).

...

The British were awful rulers but the history of India is a long story of awful rulers (just as it is for most countries). Indeed, by Maddison’s (2007) calculations _the British extracted less from the Indian economy than did the Mughal Dynasty_. The Mughals built their palaces in India while the British built most of their palaces in Britain, but that was little comfort to the Indian peasant who paid for both. The Kohinoor diamond that graces the cover of Inglorious Empire is a telling symbol. Yes, it was stolen by the British (who stole it from the Sikhs who stole it from the Afghanis who stole it from the Mughals who stole it from one of the kings of South India). But how many Indians would have been better off if this bauble had stayed in India? Perhaps one reason why more Indians didn’t take up arms against the British was that for most of them, British rule was a case of meet the new boss, same as the old boss.

more for effect on colonies: https://pinboard.in/u:nhaliday/b:4b0128372fe9

INDIA AND THE GREAT DIVERGENCE: AN ANGLO-INDIAN COMPARISON OF GDP PER CAPITA, 1600-1871: http://eh.net/eha/wp-content/uploads/2013/11/Guptaetal.pdf
This paper provides estimates of Indian GDP constructed from the output side for the pre-1871 period, and combines them with population estimates to track changes in living standards. Indian per capita GDP declined steadily during the seventeenth and eighteenth centuries before stabilising during the nineteenth century. As British living standards increased from the mid-seventeenth century, India fell increasingly behind. Whereas in 1600, Indian per capita GDP was over 60 per cent of the British level, by 1871 it had fallen to less than 15 per cent. As well as placing the origins of the Great Divergence firmly in the early modern period, the estimates suggest a relatively prosperous India at the height of the Mughal Empire, with living standards well above bare bones subsistence.

https://twitter.com/pseudoerasmus/status/832288984009207810
but some of the Asian wage data (especialy India) have laughably small samples (see Broadberry & Gupta)

How profitable was colonialism for various European powers?: https://www.reddit.com/r/AskHistorians/comments/p1q1q/how_profitable_was_colonialism_for_various/

How did Britain benefit from colonising India? What did colonial powers gain except for a sense of power?: https://www.quora.com/How-did-Britain-benefit-from-colonising-India-What-did-colonial-powers-gain-except-for-a-sense-of-power
The EIC period was mostly profitable, though it had recurring problems with its finances. The initial voyages from Surat in 1600s were hugely successful and brought profits as high as 200%. However, the competition from the Dutch East India Company started to drive down prices, at least for spices. Investing in EIC wasn’t always a sure shot way to gains - British investors who contributed to the second East India joint stock of 1.6 million pounds between 1617 and 1632 ended up losing money.

...

An alternate view is that the revenues of EIC were very small compared to the GDP of Britain, and hardly made an impact to the overall economy. For instance, the EIC Revenue in 1800 was 7.8m pounds while the British GDP in the same period was 343m pounds, and hence EIC revenue was only 2% of the overall GDP. (I got these figures from an individual blog and haven’t verified them).

...

The British Crown period - The territory of British India Provinces had expanded greatly and therefore the tax revenues had grown in proportion. The efficient taxation system paid its own administrative expenses as well as the cost of the large British Indian Army. British salaries were lucrative - the Viceroy received £25,000 a year, and Governors £10,000 for instance besides the lavish amenities in the form of subsidized housing, utilities, rest houses, etc.

...

Indian eminent intellectual, Dadabhai Naoroji wrote how the British systematically ensured the draining of Indian economy of its wealth and his theory is famously known as ‘Drain of Wealth’ theory. In his book 'Poverty' he estimated a 200–300 million pounds loss of revenue to Britain that is not returned.

At the same time, a fair bit of money did go back into India itself to support further colonial infrastructure. Note the explosion of infrastructure (Railway lines, 100+ Cantonment towns, 60+ Hill stations, Courthouses, Universities, Colleges, Irrigation Canals, Imperial capital of New Delhi) from 1857 onward till 1930s. Of course, these infrastructure projects were not due to any altruistic motive of the British. They were intended to make their India empire more secure, comfortable, efficient, and to display their grandeur. Huge sums of money were spent in the 3 Delhi Durbars conducted in this period.

So how profitable was the British Crown period? Probably not much. Instead bureaucracy, prestige, grandeur, comfort reigned supreme for the 70,000 odd British people in India.

...

There was a realization in Britain that colonies were not particularly economically beneficial to the home economy. … [more]
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june 2017 by nhaliday
The Advent of Cholera | West Hunter
Two main factors interfered with an effective policy response to cholera (not counting ever-present human stupidity and obstinacy): bad science and 19th century liberalism.

Scientists at the time had convinced themselves that the germ theory of disease was just wrong. Yellow fever’s decimation of the French force in Haiti made it important, and when yellow fever hit Barcelona in 1822, French scientists were all over it. They concluded that there was no possibility of contact between yellow fever victims in Barcelona, and ruled out contagion. Mosquito transmission didn’t occur to them.

Worse yet, they generalized their error: they concluded that contagion was never the answer, and accepted miasmas as the cause, a theory which is too stupid to be interesting. Sheesh, they taught the kids in medical school that measles wasn’t catching – while ordinary people knew perfectly well that it was. You know, esoteric, non-intuitive truths have a certain appeal – once initiated, you’re no longer one of the rubes. Of course, the simplest and most common way of producing an esoteric truth is to just make it up.

On the other hand, 19th century liberals (somewhat like modern libertarians, but way less crazy) knew that trade and individual freedom were always good things, by definition, so they also opposed quarantines – worse than wrong, old-fashioned ! And more common in southern, Catholic, Europe: enough said! So, between wrong science and classical liberalism, medical reformers spent many years trying to eliminate the reactionary quarantine rules that still existed in Mediterranean ports.

some history: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3559034/
In some countries, the suspension of personal liberty provided the opportunity—using special laws—to stop political opposition. However, the cultural and social context differed from that in previous centuries. For example, the increasing use of quarantine and isolation conflicted with the affirmation of citizens’ rights and growing sentiments of personal freedom fostered by the French Revolution of 1789. In England, liberal reformers contested both quarantine and compulsory vaccination against smallpox. Social and political tensions created an explosive mixture, culminating in popular rebellions and uprisings, a phenomenon that affected numerous European countries (29). In the Italian states, in which revolutionary groups had taken the cause of unification and republicanism (27), cholera epidemics provided a justification (i.e., the enforcement of sanitary measures) for increasing police power.

...

Anticontagionists, who disbelieved the communicability of cholera, contested quarantine and alleged that the practice was a relic of the past, useless, and damaging to commerce. They complained that the free movement of travelers was hindered by sanitary cordons and by controls at border crossings, which included fumigation and disinfection of clothes (Figures 1,​,22,​,3).3). In addition, quarantine inspired a false sense of security, which was dangerous to public health because it diverted persons from taking the correct precautions. International cooperation and coordination was stymied by the lack of agreement regarding the use of quarantine. The discussion among scientists, health administrators, diplomatic bureaucracies, and governments dragged on for decades, as demonstrated in the debates in the International Sanitary Conferences (31), particularly after the opening, in 1869, of the Suez Canal, which was perceived as a gate for the diseases of the Orient (32). Despite pervasive doubts regarding the effectiveness of quarantine, local authorities were reluctant to abandon the protection of the traditional strategies that provided an antidote to population panic, which, during a serious epidemic, could produce chaos and disrupt public order (33).
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may 2017 by nhaliday
Why China Cannot Rise Peacefully - YouTube
- unexpected accent/tone lol
- principles: states as unit of action/global anarchy, uncertainty (fog-of-war), states as rational, selfish actors
- consequences: need to become as powerful as possible, regional hegemon, prevent peer competitors (no other regional hegemon in world, eg, China)
- future: China as giant Hong Kong
- future coalition: India, Japan, Russia, Vietnam, Singapore, South Korea, and the USA
- does he actually think Brazil coulda gotten as powerful as the US? lol.
- his summary of American grand strategy (lol):
1. Europe (great powers)
2. NE Asia (great powers)
3. Persian Gulf (oil)
- "Europe will become distant 3rd, Europe is a museum, lotta old people." lol
- "not gonna help us with Asia, got their own problems, bankrupting themselves"
- counterarguments: "not gonna grow, China's a Confucian culture (don't pay attention to those), economic interdependence." doesn't buy the last either.
- best counterarguments: nuclear deterrence, economic interdependence, "age of nationalism"
- mass-murder usually strategic (eg, maintaining power) not ideological

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

interview: https://www.youtube.com/watch?v=yXSkY4QKDlA
- Clinton's a realist
- plenty of economic independence prior to world wars
- nukes makes WW3 unlikely, but do not rule out limited war (eg, over East/South China Sea)
- Confucian pacifism argument is ahistorical
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may 2017 by nhaliday
How Samuel Huntington Predicted Our Political Moment - The American Interest
The views of the general public on issues of national identity differ significantly from those of many elites. The public, overall, is concerned with physical security but also with societal security, which involves the sustainability–within acceptable conditions for evolution–of existing patterns of language, culture, association, religion and national identity. For many elites, these concerns are secondary to participating in the global economy, supporting international trade and migration, strengthening international institutions, promoting American values abroad, and encouraging minority identities and cultures at home. The central distinction between the public and elites is not isolationism versus internationalism, but nationalism versus cosmopolitanism.

https://www.washingtonpost.com/news/book-party/wp/2017/07/18/samuel-huntington-a-prophet-for-the-trump-era/
The book looks back to the Revolutionary War, the Jacksonian age, the Progressive era and the 1960s as moments of high creedal passions, and Huntington’s descriptions capture America today. In such moments, he writes, discontent is widespread, and authority and expertise are questioned; traditional values of liberty, individualism, equality and popular control of government dominate public debates; politics is characterized by high polarization and constant protest; hostility toward power, wealth and inequality grows intense; social movements focused on causes such as women’s rights and criminal justice flourish; and new forms of media emerge devoted to advocacy and adversarial journalism.

Huntington even predicts the timing of America’s next fight: “If the periodicity of the past prevails,” he writes, “a major sustained creedal passion period will occur in the second and third decades of the twenty-first century.”

We’re right on schedule.

...

Over the subsequent two decades, Huntington lost hope. In his final book, “Who Are We?,” which he emphasizes reflect his views not just as a scholar but also as a patriot, Huntington revises his definitions of America and Americans. Whereas once the creed was paramount, here it is merely a byproduct of the Anglo-Protestant culture — with its English language, Christian faith, work ethic and values of individualism and dissent — that he now says forms the true core of American identity.

...

The Huntington of 1981, apparently, was just wrong. When listing academics who had — inaccurately, he now insists — defined Americans by their political beliefs, Huntington quotes an unnamed scholar who once eloquently described Americans as inseparable from the self-evident truths of the Declaration. Unless you recognize the passage from “American Politics” or bother to check the endnotes, you have no idea he is quoting himself. It’s as close to a wink as you’ll find in Huntington’s angriest book.

...

Little wonder that, long before Trump cultivated the alt-right and Hillary Clinton denounced the “deplorables” in our midst, Huntington foresaw a backlash against multiculturalism from white Americans. “One very plausible reaction would be the emergence of exclusivist sociopolitical movements,” he writes, “composed largely but not only of white males, primarily working-class and middle-class, protesting and attempting to stop or reverse these changes and what they believe, accurately or not, to be the diminution of their social and economic status, their loss of jobs to immigrants and foreign countries, the perversion of their culture, the displacement of their language, and the erosion or even evaporation of the historical identity of their country. Such movements would be both racially and culturally inspired and could be anti-Hispanic, anti-black, and anti-immigration.” The more extreme elements in such movements, Huntington notes, fear “the replacement of the white culture that made America great by black or brown cultures that are . . . in their view, intellectually and morally inferior.”

...

This is a conflict he had long anticipated. In his 1996 book proclaiming a clash of civilizations, he writes that the West will continue its slow decline relative Asia and the Islamic world. While economic dynamism drives Asia’s rise, population growth in Muslim nations “provides recruits for fundamentalism, terrorism, insurgency, and migration.” Much as Trump mocks politicians who refuse to decry “radical Islamic terrorism,” Huntington criticizes American leaders such as Bill Clinton who argued that the West had no quarrel with Islam, only with violent extremists. “Fourteen hundred years of history demonstrate otherwise,” he remarks.

Huntington’s clash has been caricatured as a single-minded call to arms against Muslims, and certainly the argument is neither so narrow nor so simple. He is probably more concerned with China and fears a “major war” if Washington challenges Beijing’s rise as Asia’s hegemon. Yet the threat Huntington sees from the Muslim world goes far beyond terrorism or religious extremism. He worries of a broader Islamic resurgence, with political Islam as only one part of “the much more extensive revival of Islamic ideas, practices, and rhetoric and the rededication to Islam by Muslim populations.” Huntington cites scholars warning of the spread of Islamic legal concepts in the West, decries the “inhospitable nature of Islamic culture” for democracy and suggests that Islam will prevail in the numbers game against Christianity. In the long run, “Mohammed wins out,” he states. “Christianity spreads primarily by conversion, Islam by conversion and reproduction.”

https://twitter.com/tcjfs/status/918662411669917697
https://archive.is/Z2FlF
I am rereading Huntington. The only options he foresees are:
* cultural decay
* political breakup
* white re-assertion
* Christian revival
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may 2017 by nhaliday
Interview: Mostly Sealing Wax | West Hunter
https://soundcloud.com/user-519115521/greg-cochran-part-2
https://medium.com/@houstoneuler/annotating-part-2-of-the-greg-cochran-interview-with-james-miller-678ba33f74fc

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

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

Such an odd turn of phrase is easy to overlook, but it belies concerns about a significant shift in the way that China’s economy works. What Xi and Li were warning against is typically called financialization in developed economies. It’s when “real” companies—industrial firms, manufacturers, utility companies, property developers, and anyone else that produces a tangible product or service—take their money and, rather than put it back into their businesses, invest it in “empty”, or speculative, assets. It occurs when the returns on financial investments outstrip those in the real economy, leading to a disproportionate amount of money being routed into the financial system.
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may 2017 by nhaliday
Sending Jobs Overseas
*The Great Convergence*: http://marginalrevolution.com/marginalrevolution/2016/11/the-great-convergence.html

Richard Baldwin on the New Globalization: https://marginalrevolution.com/marginalrevolution/2018/04/the-new-globalization.html
To really understand how this changed the nature of globalization, consider a sports analogy. Suppose we have two football teams, one that needs a quarterback but has too many linebackers, and one that needs a linebacker but has too many quarterbacks. If they sit down and trade players, both teams win. It’s arbitrage in players. Each team gets rid of players they need less of and gets players they need more of. That’s the old globalization: exchange of goods.

Now let’s take a different kind of exchange, where the coach of the better team goes to the field of the worse team and starts training those players in the off-season. This is very good for the coach because he gets to sell his knowledge in two places. You can be sure that the quality of the league will rise, all the games will get more competitive, and the team that’s being trained up will enjoy the whole thing. But it’s not at all certain that the players of the better team will benefit from this exchange because the source of their advantage is now being traded.

In this analogy, the better team is, of course, the G7, and not surprisingly this has led to some resentment of globalization in those countries. The new globalization breaks the monopoly that G7 labor had on G7 know-how…

good reviews here:
The Great Convergence: Information Technology and the New Globalization: https://www.amazon.com/Great-Convergence-Information-Technology-Globalization/dp/067466048X
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may 2017 by nhaliday
Income Inequality | Inequality.org
Worsening American Income: Inequality: Is world trade to blame?: https://www.brookings.edu/articles/worsening-american-income-inequality-is-world-trade-to-blame/
America: A dromedary, not a Bactrian camel: http://econlog.econlib.org/archives/2017/05/america_a_drome.html

Department of Awful Statistics: Income Inequality Edition: https://thedailybeast.com/department-of-awful-statistics-income-inequality-edition
A Guide to Statistics on Historical Trends in Income Inequality: https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality
Income inequality in the United States: https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States
The Geography of U.S. Inequality: https://www.nytimes.com/interactive/2016/09/06/upshot/up-geo-inequality.html

40 Years Of Income Inequality In America, In Graphs: http://www.npr.org/sections/money/2014/10/02/349863761/40-years-of-income-inequality-in-america-in-graphs
good charts of trends in income percentiles, wage stagnation, etc.
Wage Stagnation in Nine Charts: http://www.epi.org/publication/charting-wage-stagnation/
FIGURE 4
Middle-class wages are stagnant—Middle-wage workers’ hourly wage is up 6% since 1979, low-wage workers’ wages are down 5%, while those with very high wages saw a 41% increase
Cumulative change in real hourly wages of all workers, by wage percentile,* 1979–2013

A Relentless Widening of Disparity in Wealth: https://www.nytimes.com/2014/03/12/business/economy/a-relentless-rise-in-unequal-wealth.html
Our Broken Economy, in One Simple Chart: https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html
American Inequality in Six Charts: http://www.newyorker.com/news/john-cassidy/american-inequality-in-six-charts

US income inequality: caused by financiers and tech entrepreneurs: http://infoproc.blogspot.com/2006/09/us-income-inequality-caused-by.html
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may 2017 by nhaliday
Get Ready to See This Globalization 'Elephant Chart' Over and Over Again - Bloomberg
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may 2017 by nhaliday
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