nhaliday + wealth   134

Scarred Consumption
Abstract: We show that prior lifetime experiences can “scar” consumers. Consumers who have lived through times of high unemployment exhibit persistent pessimism about their future financial situation and spend significantly less, controlling for the standard life-cycle consumption factors, even though their actual future income is uncorrelated with past experiences. Due to their experience-induced frugality, scarred consumers build up more wealth.

The Career Effects Of Graduating In A Recession: http://www.econ.ucla.edu/tvwachter/papers/grad_recession_vonwachter_oreopoulos_heisz_final.pdf
https://www.nber.org/digest/nov06/w12159.html
https://siepr.stanford.edu/research/publications/recession-graduates-effects-unlucky

Do youths graduating in a recession incur
permanent losses?: https://pdfs.semanticscholar.org/e30a/190bd49364623c76f4e4b86e079e86acbcc6.pdf
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29 days ago by nhaliday
Has Australia Really Had a 28-Year Expansion? (Yes!) - Marginal REVOLUTION
The bottom line is that however you measure it, Australian performance looks very good. Moreover RER are correct that one of the reasons for strong Australian economic performance is higher population growth rates. It’s not that higher population growth rates are masking poorer performance in real GDP per capita, however, it’s more in my view that higher population growth rates are contributing to strong performance as measured by both real GDP and real GDP per capita.
--
Control+F "China"
0 results.
China gets a 40 year expansion relying heavily on commodities. Australia squeezes 30 years out of it by happily selling to the Chinese.

yeah...
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29 days ago by nhaliday
Sci-Hub | The Moral Machine experiment. Nature | 10.1038/s41586-018-0637-6
Preference for inaction
Sparing pedestrians
Sparing the lawful
Sparing females
Sparing the fit
Sparing higher status
Sparing more characters
Sparing the young
Sparing humans

We selected the 130 countries with at least 100 respondents (n range 101–448,125), standardized the nine target AMCEs of each country, and conducted a hierarchical clustering on these nine scores, using Euclidean distance and Ward’s minimum variance method20. This analysis identified three distinct ‘moral clusters’ of countries. These are shown in Fig. 3a, and are broadly consistent with both geographical and cultural proximity according to the Inglehart–Welzel Cultural Map 2010–201421.

The first cluster (which we label the Western cluster) contains North America as well as many European countries of Protestant, Catholic, and Orthodox Christian cultural groups. The internal structure within this cluster also exhibits notable face validity, with a sub-cluster containing Scandinavian countries, and a sub-cluster containing Commonwealth countries.

The second cluster (which we call the Eastern cluster) contains many far eastern countries such as Japan and Taiwan that belong to the Confucianist cultural group, and Islamic countries such as Indonesia, Pakistan and Saudi Arabia.

The third cluster (a broadly Southern cluster) consists of the Latin American countries of Central and South America, in addition to some countries that are characterized in part by French influence (for example, metropolitan France, French overseas territories, and territories that were at some point under French leadership). Latin American countries are cleanly separated in their own sub-cluster within the Southern cluster.

...

Fig. 3 | Country-level clusters.

[ed.: I actually rather like how the values the West has compare w/ the global mean according in this plot.]

...
Participants from individualistic cultures, which emphasize the distinctive value of each individual23, show a stronger preference for sparing the greater number of characters (Fig. 4a). Furthermore, participants from collectivistic cultures, which emphasize the respect that is due to older members of the community23, show a weaker preference for sparing younger characters (Fig. 4a, inset).
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6 weeks ago by nhaliday
Manifold – man·i·fold /ˈmanəˌfōld/ many and various.
https://infoproc.blogspot.com/2019/01/a-grand-experiment.html
Silicon Valley (Big Tech and startups and VC)
Financial Markets
Academia (Good, Bad, and Ugly)
The View from Europe
The View from Asia (Life in PRC? Fear and Loathing of PRC?)
Frontiers of Science (AI, Genomics, Physics, ...)
Frontiers of Rationality
The Billionaire Life
MMA / UFC
What Millennials think us old folks don't understand
True things that you are not allowed to say
Bubbles that are ready to pop?
Under-appreciated Genius?
Overrated Crap and Frauds?
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march 2019 by nhaliday
Christian ethics - Wikipedia
Christian ethics is a branch of Christian theology that defines virtuous behavior and wrong behavior from a Christian perspective. Systematic theological study of Christian ethics is called moral theology, possibly with the name of the respective theological tradition, e.g. Catholic moral theology.

Christian virtues are often divided into four cardinal virtues and three theological virtues. Christian ethics includes questions regarding how the rich should act toward the poor, how women are to be treated, and the morality of war. Christian ethicists, like other ethicists, approach ethics from different frameworks and perspectives. The approach of virtue ethics has also become popular in recent decades, largely due to the work of Alasdair MacIntyre and Stanley Hauerwas.[2]

...

The seven Christian virtues are from two sets of virtues. The four cardinal virtues are Prudence, Justice, Restraint (or Temperance), and Courage (or Fortitude). The cardinal virtues are so called because they are regarded as the basic virtues required for a virtuous life. The three theological virtues, are Faith, Hope, and Love (or Charity).

- Prudence: also described as wisdom, the ability to judge between actions with regard to appropriate actions at a given time
- Justice: also considered as fairness, the most extensive and most important virtue[20]
- Temperance: also known as restraint, the practice of self-control, abstention, and moderation tempering the appetition
- Courage: also termed fortitude, forebearance, strength, endurance, and the ability to confront fear, uncertainty, and intimidation
- Faith: belief in God, and in the truth of His revelation as well as obedience to Him (cf. Rom 1:5:16:26)[21][22]
- Hope: expectation of and desire of receiving; refraining from despair and capability of not giving up. The belief that God will be eternally present in every human's life and never giving up on His love.
- Charity: a supernatural virtue that helps us love God and our neighbors, the same way as we love ourselves.

Seven deadly sins: https://en.wikipedia.org/wiki/Seven_deadly_sins
The seven deadly sins, also known as the capital vices or cardinal sins, is a grouping and classification of vices of Christian origin.[1] Behaviours or habits are classified under this category if they directly give birth to other immoralities.[2] According to the standard list, they are pride, greed, lust, envy, gluttony, wrath, and sloth,[2] which are also contrary to the seven virtues. These sins are often thought to be abuses or excessive versions of one's natural faculties or passions (for example, gluttony abuses one's desire to eat).

originally:
1 Gula (gluttony)
2 Luxuria/Fornicatio (lust, fornication)
3 Avaritia (avarice/greed)
4 Superbia (pride, hubris)
5 Tristitia (sorrow/despair/despondency)
6 Ira (wrath)
7 Vanagloria (vainglory)
8 Acedia (sloth)

Golden Rule: https://en.wikipedia.org/wiki/Golden_Rule
The Golden Rule (which can be considered a law of reciprocity in some religions) is the principle of treating others as one would wish to be treated. It is a maxim that is found in many religions and cultures.[1][2] The maxim may appear as _either a positive or negative injunction_ governing conduct:

- One should treat others as one would like others to treat oneself (positive or directive form).[1]
- One should not treat others in ways that one would not like to be treated (negative or prohibitive form).[1]
- What you wish upon others, you wish upon yourself (empathic or responsive form).[1]
The Golden Rule _differs from the maxim of reciprocity captured in do ut des—"I give so that you will give in return"—and is rather a unilateral moral commitment to the well-being of the other without the expectation of anything in return_.[3]

The concept occurs in some form in nearly every religion[4][5] and ethical tradition[6] and is often considered _the central tenet of Christian ethics_[7] [8]. It can also be explained from the perspectives of psychology, philosophy, sociology, human evolution, and economics. Psychologically, it involves a person empathizing with others. Philosophically, it involves a person perceiving their neighbor also as "I" or "self".[9] Sociologically, "love your neighbor as yourself" is applicable between individuals, between groups, and also between individuals and groups. In evolution, "reciprocal altruism" is seen as a distinctive advance in the capacity of human groups to survive and reproduce, as their exceptional brains demanded exceptionally long childhoods and ongoing provision and protection even beyond that of the immediate family.[10] In economics, Richard Swift, referring to ideas from David Graeber, suggests that "without some kind of reciprocity society would no longer be able to exist."[11]

...

hmm, Meta-Golden Rule already stated:
Seneca the Younger (c. 4 BC–65 AD), a practitioner of Stoicism (c. 300 BC–200 AD) expressed the Golden Rule in his essay regarding the treatment of slaves: "Treat your inferior as you would wish your superior to treat you."[23]

...

The "Golden Rule" was given by Jesus of Nazareth, who used it to summarize the Torah: "Do to others what you want them to do to you." and "This is the meaning of the law of Moses and the teaching of the prophets"[33] (Matthew 7:12 NCV, see also Luke 6:31). The common English phrasing is "Do unto others as you would have them do unto you". A similar form of the phrase appeared in a Catholic catechism around 1567 (certainly in the reprint of 1583).[34] The Golden Rule is _stated positively numerous times in the Hebrew Pentateuch_ as well as the Prophets and Writings. Leviticus 19:18 ("Forget about the wrong things people do to you, and do not try to get even. Love your neighbor as you love yourself."; see also Great Commandment) and Leviticus 19:34 ("But treat them just as you treat your own citizens. Love foreigners as you love yourselves, because you were foreigners one time in Egypt. I am the Lord your God.").

The Old Testament Deuterocanonical books of Tobit and Sirach, accepted as part of the Scriptural canon by Catholic Church, Eastern Orthodoxy, and the Non-Chalcedonian Churches, express a _negative form_ of the golden rule:

"Do to no one what you yourself dislike."

— Tobit 4:15
"Recognize that your neighbor feels as you do, and keep in mind your own dislikes."

— Sirach 31:15
Two passages in the New Testament quote Jesus of Nazareth espousing the _positive form_ of the Golden rule:

Matthew 7:12
Do to others what you want them to do to you. This is the meaning of the law of Moses and the teaching of the prophets.

Luke 6:31
Do to others what you would want them to do to you.

...

The passage in the book of Luke then continues with Jesus answering the question, "Who is my neighbor?", by telling the parable of the Good Samaritan, indicating that "your neighbor" is anyone in need.[35] This extends to all, including those who are generally considered hostile.

Jesus' teaching goes beyond the negative formulation of not doing what one would not like done to themselves, to the positive formulation of actively doing good to another that, if the situations were reversed, one would desire that the other would do for them. This formulation, as indicated in the parable of the Good Samaritan, emphasizes the needs for positive action that brings benefit to another, not simply restraining oneself from negative activities that hurt another. Taken as a rule of judgment, both formulations of the golden rule, the negative and positive, are equally applicable.[36]

The Golden Rule: Not So Golden Anymore: https://philosophynow.org/issues/74/The_Golden_Rule_Not_So_Golden_Anymore
Pluralism is the most serious problem facing liberal democracies today. We can no longer ignore the fact that cultures around the world are not simply different from one another, but profoundly so; and the most urgent area in which this realization faces us is in the realm of morality. Western democratic systems depend on there being at least a minimal consensus concerning national values, especially in regard to such things as justice, equality and human rights. But global communication, economics and the migration of populations have placed new strains on Western democracies. Suddenly we find we must adjust to peoples whose suppositions about the ultimate values and goals of life are very different from ours. A clear lesson from events such as 9/11 is that disregarding these differences is not an option. Collisions between worldviews and value systems can be cataclysmic. Somehow we must learn to manage this new situation.

For a long time, liberal democratic optimism in the West has been shored up by suppositions about other cultures and their differences from us. The cornerpiece of this optimism has been the assumption that whatever differences exist they cannot be too great. A core of ‘basic humanity’ surely must tie all of the world’s moral systems together – and if only we could locate this core we might be able to forge agreements and alliances among groups that otherwise appear profoundly opposed. We could perhaps then shelve our cultural or ideological differences and get on with the more pleasant and productive business of celebrating our core agreement. One cannot fail to see how this hope is repeated in order buoy optimism about the Middle East peace process, for example.

...

It becomes obvious immediately that no matter how widespread we want the Golden Rule to be, there are some ethical systems that we have to admit do not have it. In fact, there are a few traditions that actually disdain the Rule. In philosophy, the Nietzschean tradition holds that the virtues implicit in the Golden Rule are antithetical to the true virtues of self-assertion and the will-to-power. Among religions, there are a good many that prefer to emphasize the importance of self, cult, clan or tribe rather than of general others; and a good many other religions for whom large populations are simply excluded from goodwill, being labeled as outsiders, heretics or … [more]
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april 2018 by nhaliday
The first ethical revolution – Gene Expression
Fifty years ago Julian Jaynes published The Origin of Consciousness in the Breakdown of the Bicameral Mind. Seventy years ago Karl Jaspers introduced the concept of the Axial Age. Both point to the same dynamic historically.

Something happened in the centuries around 500 BCE all around the world. Great religions and philosophies arose. The Indian religious traditions, the Chinese philosophical-political ones, and the roots of what we can recognize as Judaism. In Greece, the precursors of many modern philosophical streams emerged formally, along with a variety of political systems.

The next few centuries saw some more innovation. Rabbinical Judaism transformed a ritualistic tribal religion into an ethical one, and Christianity universalized Jewish religious thought, as well as infusing it with Greek systematic concepts. Meanwhile, Indian and Chinese thought continued to evolve, often due to interactions each other (it is hard to imagine certain later developments in Confucianism without the Buddhist stimulus). Finally, in the 7th century, Islam emerges as the last great world religion.

...

Living in large complex societies with social stratification posed challenges. A religion such as Christianity was not a coincidence, something of its broad outlines may have been inevitable. Universal, portable, ethical, and infused with transcendence and coherency. Similarly, god-kings seem to have universally transformed themselves into the human who binds heaven to earth in some fashion.

The second wave of social-ethical transformation occurred in the early modern period, starting in Europe. My own opinion is that economic growth triggered by innovation and gains in productivity unleashed constraints which had dampened further transformations in the domain of ethics. But the new developments ultimately were simply extensions and modifications on the earlier “source code” (e.g., whereas for nearly two thousand years Christianity had had to make peace with the existence of slavery, in the 19th century anti-slavery activists began marshaling Christian language against the institution).
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april 2018 by nhaliday
The Hanson-Yudkowsky AI-Foom Debate - Machine Intelligence Research Institute
How Deviant Recent AI Progress Lumpiness?: http://www.overcomingbias.com/2018/03/how-deviant-recent-ai-progress-lumpiness.html
I seem to disagree with most people working on artificial intelligence (AI) risk. While with them I expect rapid change once AI is powerful enough to replace most all human workers, I expect this change to be spread across the world, not concentrated in one main localized AI system. The efforts of AI risk folks to design AI systems whose values won’t drift might stop global AI value drift if there is just one main AI system. But doing so in a world of many AI systems at similar abilities levels requires strong global governance of AI systems, which is a tall order anytime soon. Their continued focus on preventing single system drift suggests that they expect a single main AI system.

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

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

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

...

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

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

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

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

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

...

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

...

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

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

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

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

...

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

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

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

(Note: this is not a post about whether an intelligence explosion will occur. That seems very likely to me. Quantitatively I expect it to go along these lines. So e.g. while I disagree with many of the claims and assumptions in Intelligence Explosion Microeconomics, I don’t disagree with the central thesis or with most of the arguments.)
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april 2018 by nhaliday
Religiosity and Fertility in the United States: The Role of Fertility Intentions
Using data from the 2002 National Survey of Family Growth (NSFG), we show that women who report that religion is “very important” in their everyday life have both higher fertility and higher intended fertility than those saying religion is “somewhat important” or “not important.” Factors such as unwanted fertility, age at childbearing, or degree of fertility postponement seem not to contribute to religiosity differentials in fertility. This answer prompts more fundamental questions: what is the nature of this greater “religiosity”? And why do the more religious want more children? We show that those saying religion is more important have more traditional gender and family attitudes and that these attitudinal differences account for a substantial part of the fertility differential. We speculate regarding other contributing causes.

Religion, Religiousness and Fertility in the U.S. and in Europe: https://www.demogr.mpg.de/papers/working/wp-2006-013.pdf
2006

RELIGIONS, FERTILITY, AND GROWTH IN SOUTHEAST ASIA: https://onlinelibrary.wiley.com/doi/abs/10.1111/iere.12291
Using Southeast Asian censuses, we show empirically that being Catholic, Buddhist, or Muslim significantly raises fertility, especially for couples with intermediate to high education levels. With these estimates, we identify the parameters of a structural model. Catholicism is strongly pro‐child (increasing total spending on children), followed by Buddhism, whereas Islam is more pro‐birth (redirecting spending from quality to quantity). Pro‐child religions depress growth in its early stages by lowering savings and labor supply. In the later stages of growth, pro‐birth religions impede human capital accumulation.
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february 2018 by nhaliday
Team *Decorations Until Epiphany* on Twitter: "@RoundSqrCupola maybe just C https://t.co/SFPXb3qrAE"
https://archive.is/k0fsS
Remember ‘BRICs’? Now it’s just ICs.
--
maybe just C
Solow predicts that if 2 countries have the same TFP, then the poorer nation should grow faster. But poorer India grows more slowly than China.

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

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

FWIW under Solow conditional convergence assumptions--historically robust--the fact that a country as poor as India grows only a few % faster than the world average is a sign they'll end up poorer than S Europe.

see his spreadsheet here: http://mason.gmu.edu/~gjonesb/SolowForecast.xlsx
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december 2017 by nhaliday
Disaggregating the economy: cost of living | askblog
here are the US states color-coded according to per capita GDP with an adjustment for Regional Price Parities: that is, it’s a measure of income adjusted for what it actually costs to buy housing and other goods. With that change, California, New York, and Maryland are no longer in the top category. Hoever, a number of midwestern states like Kansas, Nebraska, South Dakota, and my own Minnesota move into the top category. A number of states in the mountain west and south that were in the lowest-income category when just looking at per capita GDP move up a category or two when the Regional Price Parities are taken into account.
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november 2017 by nhaliday
Global Evidence on Economic Preferences
- Benjamin Enke et al

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

...

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

...

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

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

Table 1: Survey items of the GPS

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

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

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

Figure 5: Age profiles by OECD membership.

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

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

interesting digression:
D Discussion of Measurement Error and Within- versus Between-Country Variation
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october 2017 by nhaliday
“Editor’s Introduction to The New Economic History and the Industrial Revolution,” J. Mokyr (1998) | A Fine Theorem
I taught a fun three hours on the Industrial Revolution in my innovation PhD course this week. The absolutely incredible change in the condition of mankind that began in a tiny corner of Europe in an otherwise unremarkable 70-or-so years is totally fascinating. Indeed, the Industrial Revolution and its aftermath are so important to human history that I find it strange that we give people PhDs in social science without requiring at least some study of what happened.

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

1) The world was absurdly poor from the dawn of mankind until the late 1800s, everywhere.
2) The average person did not become richer, nor was overall economic growth particularly spectacular, during the Industrial Revolution; indeed, wages may have fallen between 1760 and 1830.
3) Major macro inventions, and growth, of the type seen in England in the late 1700s and early 1800s happened many times in human history.
4) It is hard for us today to understand how revolutionary ideas like “experimentation” or “probability” were.
5) The best explanations for “why England? why in the late 1700s? why did growth continue?” do not involve colonialism, slavery, or famous inventions.
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october 2017 by nhaliday
1 Genetics and Crime
The broader construct of antisocial behavior – which includes criminal offending, as well as aggression – also shows substantial genetic influence. In a meta-analysis combining effect sizes in 51 twin and adoption studies, Rhee and Waldman (2002) reported a heritability estimate of 41 per cent, with the remaining 59 per cent of variance being due to environmental factors. Interestingly, when comparing results for various definitions of antisocial behavior, only criminal offending appeared to be influenced by both additive genetic effects and non-additive genetic effects – possibly due to genetic dominance and epistatic interactions between genes – based on a pattern of results whereby, on average, identical (monozygotic) twin correlations are more than twice the value of fraternal (dizygotic) twin correlations, and also that biological parent–offspring correlations are less than fraternal twin correlations. Such non-additive genetic effects could arise if one or more high risk alleles act in a recessive fashion, or if certain alleles at one locus affect gene expression at other loci (epistasis).

One intriguing aspect of the literature on genetics and crime is that the strong and consistent genetic influence seen for property offending does not hold true for violent criminal convictions. None of the major adoption studies in Scandinavia or the United States found any elevated risk for violent convictions as a function of either biological or adoptive parent criminal offending, although one early twin study did find greater identical (monozygotic) than fraternal (dizygotic) concordance for violent convictions (see Cloninger and Gottesman, 1987). This pattern of twin, but not parent-offspring, similarity for violent criminal behavior suggests the possibility of non-additive genetic effects due to dominance or epistasis, which would result in increased resemblance for siblings (and twins), but not for parents and offspring. Thus, there may be genetic risk for violent crimes such as murder and rape, which may stem from rare recessive genes, or specific combinations of alleles that do not appear in studies of vertical transmission across generations.

A Swedish national twin study of criminal behavior and its violent, white-collar and property subtypes: https://www.cambridge.org/core/journals/psychological-medicine/article/a-swedish-national-twin-study-of-criminal-behavior-and-its-violent-white-collar-and-property-subtypes/0D9A88185ED0FD5525A5EBD5D2EBA117
For all criminal convictions, heritability was estimated at around 45% in both sexes, with the shared environment accounting for 18% of the variance in liability in females and 27% in males. The correlation of these risk factors across sexes was estimated at +0.63. In men, the magnitudes of genetic and environmental influence were similar in the three criminal conviction subtypes. However, for violent and white-collar convictions, nearly half and one-third of the genetic effects were respectively unique to that criminal subtype. About half of the familial environmental effects were unique to property convictions.

Heritability, Assortative Mating and Gender Differences in Violent Crime: Results from a Total Population Sample Using Twin, Adoption, and Sibling Models: https://link.springer.com/article/10.1007/s10519-011-9483-0
Using 36k twins, violent crime was moderately heritable (~ 55%) w/ 13% shared environment influence. Using 1.5 mil siblings, heritability was higher for males, & family environment higher for females. Moderate assortative mating for violent crime (r = .4).

The impact of neighbourhood deprivation on adolescent violent criminality and substance misuse: A longitudinal, quasi-experimental study of the total Swedish population: https://academic.oup.com/ije/article/42/4/1057/656274/The-impact-of-neighbourhood-deprivation-on
In the crude model, an increase of 1 SD in neighbourhood deprivation was associated with a 57% increase in the odds of being convicted of a violent crime (95% CI 52%–63%). The effect was greatly attenuated when adjustment was made for a number of observed confounders (OR 1.09, 95% CI 1.06–1.11). When we additionally adjusted for unobserved familial confounders, the effect was no longer present (OR 0.96, 95% CI 0.84–1.10). Similar results were observed for substance misuse. The results were not due to poor variability either between neighbourhoods or within families.

Childhood family income, adolescent violent criminality and substance misuse: quasi-experimental total population study: http://bjp.rcpsych.org/content/early/2014/08/14/bjp.bp.113.136200
https://www.economist.com/news/science-and-technology/21613303-disturbing-study-link-between-incomes-and-criminal-behaviour-have-and
What did surprise him was that when he looked at families which had started poor and got richer, the younger children—those born into relative affluence—were just as likely to misbehave when they were teenagers as their elder siblings had been. Family income was not, per se, the determining factor.

Indicators of domestic/intimate partner violence are structured by genetic and nonshared environmental influences: https://www.researchgate.net/publication/233737219_Indicators_of_domesticintimate_partner_violence_are_structured_by_genetic_and_nonshared_environmental_influences
Three indicators of IPV were measured and genetic factors accounted for 24% of the variance in hitting one's partner, 54% of the variance in injuring one's partner, and 51% of the variance in forcing sexual activity on one's partner. The shared environment explained none of the variance across all three indicators and the nonshared environment explained the remainder of the variance.
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october 2017 by nhaliday
Tax Evasion and Inequality
This paper attempts to estimate the size and distribution of tax evasion in rich countries. We combine stratified random audits—the key source used to study tax evasion so far—with new micro-data leaked from two large offshore financial institutions, HSBC Switzerland (“Swiss leaks”) and Mossack Fonseca (“Panama Papers”). We match these data to population-wide wealth records in Norway, Sweden, and Denmark. We find that tax evasion rises sharply with wealth, a phenomenon that random audits fail to capture. On average about 3% of personal taxes are evaded in Scandinavia, but this figure rises to about 30% in the top 0.01% of the wealth distribution, a group that includes households with more than $40 million in net wealth. A simple model of the supply of tax evasion services can explain why evasion rises steeply with wealth. Taking tax evasion into account increases the rise in inequality seen in tax data since the 1970s markedly, highlighting the need to move beyond tax data to capture income and wealth at the top, even in countries where tax compliance is generally high. We also find that after reducing tax evasion—by using tax amnesties—tax evaders do not legally avoid taxes more. This result suggests that fighting tax evasion can be an effective way to collect more tax revenue from the ultra-wealthy.

Figure 1

America’s unreported economy: measuring the size, growth and determinants of income tax evasion in the U.S.: https://link.springer.com/article/10.1007/s10611-011-9346-x
This study empirically investigates the extent of noncompliance with the tax code and examines the determinants of federal income tax evasion in the U.S. Employing a refined version of Feige’s (Staff Papers, International Monetary Fund 33(4):768–881, 1986, 1989) General Currency Ratio (GCR) model to estimate a time series of unreported income as our measure of tax evasion, we find that 18–23% of total reportable income may not properly be reported to the IRS. This gives rise to a 2009 “tax gap” in the range of $390–$540 billion. As regards the determinants of tax noncompliance, we find that federal income tax evasion is an increasing function of the average effective federal income tax rate, the unemployment rate, the nominal interest rate, and per capita real GDP, and a decreasing function of the IRS audit rate. Despite important refinements of the traditional currency ratio approach for estimating the aggregate size and growth of unreported economies, we conclude that the sensitivity of the results to different benchmarks, imperfect data sources and alternative specifying assumptions precludes obtaining results of sufficient accuracy and reliability to serve as effective policy guides.
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october 2017 by nhaliday
Global determinants of navigation ability | bioRxiv
Using a mobile-based virtual reality navigation task, we measured spatial navigation ability in more than 2.5 million people globally. Using a clustering approach, we find that navigation ability is not smoothly distributed globally but clustered into five distinct yet geographically related groups of countries. Furthermore, the economic wealth of a nation (Gross Domestic Product per capita) was predictive of the average navigation ability of its inhabitants and gender inequality (Gender Gap Index) was predictive of the size of performance difference between males and females.

- Figure 1 has the meat
- gender gap larger in richer/better-performing countries
- Anglo and Nordic countries do best (Finnish supremacy wins the day again)
- surprised China doesn't do better, probably a matter of development
- Singapore is close behind the Anglo-Nords tho
- speculation that practice of orienteering (originally Swedish) may be related to Nords doing well
- somewhat weird pattern wrt age
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september 2017 by nhaliday
A cross-country empirical test of cognitive abilities and innovation nexus - Munich Personal RePEc Archive
In this study we analyze the relationship between national cognitive abilities and innovational output using data from 124 countries of the world. By employing cross-country IQ scores traditionally used by psychological literature to represent national intelligence, and Economic Complexity Index as a novel measure of innovation, our study shows that there is a positive connection between them. We use a variety of tests to check the robustness of the nexus. Overall, our findings indicate that more intelligent nations export more sophisticated and diverse products to the world market and thus are more innovative. Therefore, developing countries should consider investing in human capital and related institutions if they are to boost innovative capabilities and move up the technology ladder in producing and exporting sophisticated and varied lines of products. This should bring them greater economic diversity which could be a right lever in mitigating negative external shocks.
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september 2017 by nhaliday
From Soviets to Oligarchs: Inequality and Property in Russia 1905-2016
We find that official survey-based measures vastly under-estimate the rise of inequality since 1990. According to our benchmark estimates, top income shares are now similar to (or higher than) the levels observed in the United States. We also find that inequality has increased substantially more in Russia than in China and other ex-communist countries in Eastern Europe. We relate this finding to the specific transition strategy followed in Russia. According to our benchmark estimates, the wealth held offshore by rich Russians is about three times larger than official net foreign reserves, and is comparable in magnitude to total household financial assets held in Russia.

Figure 1a, 8abc, 9b

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

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

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

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

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

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

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

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

https://themoscowtimes.com/articles/centrifugal-forces-why-russian-oligarchs-remain-loyal-to-the-putin-government-op-ed-59760
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august 2017 by nhaliday
On the measuring and mis-measuring of Chinese growth | VOX, CEPR’s Policy Portal
Unofficial indicators of Chinese GDP often suggest that Beijing’s growth figures are exaggerated. This column uses nighttime light as a proxy to estimate Chinese GDP growth. Since 2012, the authors’ estimate is never appreciably lower, and is in many years higher, than the GDP growth rate reported in the official statistics. While not ruling out the risk of future turmoil, the analysis presents few immediate indications that Chinese growth is being systematically overestimated.

https://asia.nikkei.com/magazine/20170831/Politics-Economy/Chinese-provinces-heed-Xi-s-calls-for-accurate-GDP-data
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july 2017 by nhaliday
Seven charts that show how the developed world is losing its edge
Savings China’s gross savings (at market exchange rates) are nearly as large as those of the US and EU combined. China saves almost half of its national income. This extraordinarily high share is likely to fall but that decline is set to be gradual, since Chinese households are likely to remain frugal and the share of profits in national income is likely to remain high.

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

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

...

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

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

China's Financial Debt: Everything You Know Is Wrong: http://www.unz.com/article/chinas-financial-debt-everything-you-know-is-wrong/
As China Piles on Debt, Consumers Seek a Piece of the Action: https://www.nytimes.com/2017/09/25/business/china-debt-consumers.html
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july 2017 by nhaliday
A different view of the World | The Blog by Javier
Today I have been playing with one of these applications. These are three of the cartograms I made:

- In the first one: area represents GDP (in purchasing power parity) whereas colour shows GDP per capita (again in PPP).
- The second one shows: military expenditure (PPP) as the area of countries whereas colour shows military expenditure as a percentage of GDP.
- The last one has area representing again military expenditure (PPP) and colour showing military expenditure per capita (PPP).
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july 2017 by nhaliday
On the effects of inequality on economic growth | Nintil
After the discussion above, what should one think about the relationship between inequality and growth?

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

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

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

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

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

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

https://twitter.com/NAChristakis/status/952315243572719617
https://archive.is/DpyAx
Our own work has shown that the *visibility* of inequality, more then the inequality per se, may be especially corrosive to the social fabric. https://www.nature.com/articles/nature15392 … I wonder if @WalterScheidel historical data sheds light on this idea? end 5/
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june 2017 by nhaliday
Dimensions - Geert Hofstede
http://geerthofstede.com/culture-geert-hofstede-gert-jan-hofstede/6d-model-of-national-culture/

https://www.reddit.com/r/europe/comments/4g88kt/eu28_countries_ranked_by_hofstedes_cultural/
https://archive.is/rXnII

https://hbdchick.wordpress.com/2013/09/07/national-individualism-collectivism-scores/

Individualism and Collectivism in Israeli Society: Comparing Religious and Secular High-School Students: https://sci-hub.tw/https://link.springer.com/article/10.1023/A:1016945121604
A common collective basis of mutual value consensus was found in the two groups; however, as predicted, there were differences between secular and religious students on the three kinds of items, since the religious scored higher than the secular students on items emphasizing collectivist orientation. The differences, however, do not fit the common theoretical framework of collectivism-individualism, but rather tend to reflect the distinction between in-group and universal collectivism.

Individualism and Collectivism in Two Conflicted Societies: Comparing Israeli-Jewish and Palestinian-Arab High School Students: https://sci-hub.tw/http://journals.sagepub.com/doi/10.1177/0044118X01033001001
Both groups were found to be more collectivistic than individualistic oriented. However, as predicted, the Palestinians scored higher than the Israeli students on items emphasizing in-group collectivist orientation (my nationality, my country, etc.). The differences between the two groups tended to reflect some subdistinctions such as different elements of individualism and collectivism. Moreover, they reflected the historical context and contemporary influences, such as the stage where each society is at in the nation-making process.

Religion as culture: religious individualism and collectivism among american catholics, jews, and protestants.: https://www.ncbi.nlm.nih.gov/pubmed/17576356
We propose the theory that religious cultures vary in individualistic and collectivistic aspects of religiousness and spirituality. Study 1 showed that religion for Jews is about community and biological descent but about personal beliefs for Protestants. Intrinsic and extrinsic religiosity were intercorrelated and endorsed differently by Jews, Catholics, and Protestants in a pattern that supports the theory that intrinsic religiosity relates to personal religion, whereas extrinsic religiosity stresses community and ritual (Studies 2 and 3). Important life experiences were likely to be social for Jews but focused on God for Protestants, with Catholics in between (Study 4). We conclude with three perspectives in understanding the complex relationships between religion and culture.

Inglehart–Welzel cultural map of the world: https://en.wikipedia.org/wiki/Inglehart%E2%80%93Welzel_cultural_map_of_the_world
Live cultural map over time 1981 to 2015: https://www.youtube.com/watch?v=ABWYOcru7js

https://en.wikipedia.org/wiki/Post-materialism

https://ourworldindata.org/materialism-and-post-materialism
By Income of the Country

Most of the low post-materialism, high income countries are East Asian :(. Some decent options: Norway, Netherlands, Iceland (surprising!). Other Euro countries fall into that category but interest me less for other reasons.

https://graphpaperdiaries.com/2016/06/10/materialism-and-post-materialism/

Postmaterialism and the Economic Condition: https://www.jstor.org/stable/2111573
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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
Information Processing: Everything Under the Heavens and China's Conceptualization of Power
These guys are not very quantitative, so let me clarify a part of their discussion that was left rather ambiguous. It is true that demographic trends are working against China, which has a rapidly aging population. French and Schell talk about a 10-15 year window during which China has to grow rich before it grows old (a well-traveled meme). From the standpoint of geopolitics this is probably not the correct or relevant analysis. China's population is ~4x that of the US. If, say, demographic trends limit this to only an effective 3x or 3.5x advantage in working age individuals, China still only has to reach ~1/3 of US per capita income in order to have a larger overall economy. It seems unlikely that there is any hard cutoff preventing China from reaching, say, 1/2 the US per capita GDP in a few decades. (Obviously a lot of this growth is still "catch-up" growth.) At that point its economy would be the largest in the world by far, and its scientific-technological workforce and infrastructure would be far larger than that of any other country.

- interesting point: China went from servile toward Japan to callous as soon as it surpassed Japan economically (I would bet this will apply to the US)
- conventional Chinese narrative for WW2: China won the Pacific Theater not the US
http://www.nytimes.com/2004/12/06/world/asia/chinas-textbooks-twist-and-omit-history.html
https://www.theatlantic.com/international/archive/2012/06/a-story-about-world-war-ii-that-china-would-like-you-to-hear/259084/
- serious Chinese superiority complex overall
- "patriotic education", the fucking opposite of our god-awful ideology
- in Chinese history: each dynasty judges the last, unimpeachable
- ceding control of South China Sea would damage relations with neighboring countries (not enforcing their legitimate claims) and damage international norms (rule of law, etc.)
- next 10-15 years dangerous (Thucydides); of course Hsu criticizes
- suggestions: cultivate local alliances, prevent arms races, welcome Chinese international initiatives
I'm highly skeptical of all but the alliances
- ethnic melting in Chinese history, population structure (not actually as much as he thinks AFAIK), "age of nationalism", Tibet, etc.

Gideon Rachman writes for the FT, so it's not surprising that his instincts seem a bit stronger when it comes to economics. He makes a number of incisive observations during this interview.

---

At 16min, he mentions that
I was in Beijing about I guess a month before the vote [US election], in fact when the first debates were going on, and the Chinese, I thought that official Chinese [i.e. Government Officials] in our meeting and the sort of semi-official academics were clearly pulling for Trump.

---

I wonder if the standard of comparison shouldn't be with the West as a whole, not just the United States?

It depends on what happens to the EU, whether western powers other than the US want to play the role of global hegemon, etc.

The situation today is that the US is focused on preserving its primacy, wants to deny Russia and China any local sphere of influence, etc., whereas Europe has little appetite for any of it. They can barely allocate enough resources for their own defense.

Europe and the US have their own demographic problems to deal with in the coming decades. An aging population may turn out to be less challenging than the consequences of mass immigration (note population trends in Africa, so close to Europe).

If China behaved as an aggressive hegemon like the US or former USSR, it would probably elicit a collective back reaction from the West. But I think its first step is simply to consolidate influence over Asia.

---

interesting somewhat contrarian take on China's girth here: https://gnxp.nofe.me/2017/08/03/manufacturing-chinese-history-cheaply/

China Does Not Want Your Rules Based Order: http://scholars-stage.blogspot.com/2016/06/china-does-not-want-your-rules-based.html
There is much that is good in this narrative. McCain proclaims that "no nation has done as much to contribute to what China calls its “peaceful rise” as the United States of America." He is right to do so. No nation has done more to enable China's rise than America has. No country's citizens have done more for the general prosperity of the Chinese people than the Americans have. This is true in ways that are not widely known or immediately obvious. For example, the role American financiers and investment banks played in creating the architecture of modern Chinese financial markets and corporate structures is little realized, despite the size and importance of their interventions. Behind every great titan of Chinese industry--China Mobile, the world's largest mobile phone operator, China State Construction Engineering, whose IPO was valued at $7.3 billion, PetroChina, the most profitable company in Asia (well, before last year), to name a few of hundreds--lies an American investment banker. I do not exaggerate when I say Goldman Sachs created modern China. [2] China has much to thank America for.

...

In simpler terms, the Chinese equate “rising within a rules based order” with “halting China’s rise to power.” To live by Washington’s rules is to live under its power, and the Chinese have been telling themselves for three decades now that—after two centuries of hardship—they will not live by the dictates of outsiders ever again.

The Chinese will never choose our rules based order. That does not necessarily mean they want to dethrone America and throw down all that she has built. The Chinese do not have global ambitions. What they want is a seat at the table—and they want this seat to be recognized, not earned. That’s the gist of it. Beijing is not willing to accept an order it did not have a hand in creating. Thus all that G-2 talk we heard a few years back. The Chinese would love to found a new order balancing their honor and their interests with the Americans. It is a flattering idea. What they do not want is for the Americans to give them a list of hoops to jump through to gain entry into some pre-determined good-boys club. They feel like their power, wealth, and heritage should be more than enough to qualify for automatic entrance to any club.

https://twitter.com/Aelkus/status/928754578794958848
https://archive.is/NpLpR

Greer is even more pessimistic as of late:
https://scholars-stage.blogspot.com/2019/05/are-we-ready-for-what-comes-next.html
That is the political reality of the present moment. We will ride through this conflict not with the people we want, but with the people we have. But that people can be prepared. This is not the first time Americans have stood indifferent to the maneuvers of rising tyrannies. Indifference can be changed. It has been changed many times before.

But not by accident.

We do not face war. But we do face something like unto it. Economic weapons will be drawn and used. We will face a rough time. Before us lies an escalating circle of punishment and counter-punishment. The Chinese people will hurt dearly.

But so will ours.

Victory won will be worth its price. But that price will be paid. The Chinese understand this. They prepare their people for the contest that is coming.

We would be wise to follow their example.

https://scholars-stage.blogspot.com/2019/10/chinas-vision-of-victory.html
This book will not be pleasant reading for some. It is built on a hard foundation of official PRC and CPC statements, white papers, laws, and pronouncements—together these documents suggest that China's ambitions are far less limited than many Americans hope:
> China’s Vision of Victory is a useful antidote to the popular delusion that Chinese leaders seek nothing more than to roll back U.S. hegemony in the Western Pacific—or that they will be sated by becoming the dominant East Asian power. Despite presenting modest and peaceful ambitions to foreigners, the Chinese Communist Party leadership transparently communicates its desire for primacy to internal audiences. By guiding readers through a barrage of official documents, excerpted liberally throughout the book, Ward shows just how wide-ranging these ambitions are.
> To start with, the People’s Liberation Army (PLA) already defines its maritime forces as a “two-ocean navy.” Chinese energy demands have led the PLA to extend its reach to Pakistan, Africa, and the disputed waters of the South China Sea. White papers spell out Chinese ambitions to be the primary strategic presence not just on the East Asian periphery but in Africa, the Indian Ocean, and the Southern Pacific. China’s leadership claims that it has core economic interests as far abroad as Europe, Latin America, the Arctic, and outer space. With these economic interests come road maps for securing Chinese relationships or presence in each region.
> By 2050, the Chinese aim to have a military “second to none,” to become the global center for technology innovation, and to serve as the economic anchor of a truly global trade and infrastructure regime—an economic bloc that would be unprecedented in human history. In their speeches and documents, Chinese leaders call this vision of a China-centered future—a future where a U.S.-led system has been broken apart and discarded—a “community of common destiny for mankind.” That ambition debunks the myth of a multipolar future: China seeks dominance, not just a share of the pie.[1]
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june 2017 by nhaliday
Comprehensive Military Power: World’s Top 10 Militaries of 2015 - The Unz Review
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june 2017 by nhaliday
Economic Growth in Ancient Greece | pseudoerasmus
Maybe land-and-dung expansion does not really require a fancy institutional explanation. Territory expanded, land yields rose, and people have always traded their surpluses. Why invoke “inclusive institutions”, as Ober effectively does, for something so mundane ? Perhaps the seminal cultural accomplishments of classical Greece bias some of us to look for “special” causes of the expansion.

Note, this is not an argument that political economy or “institutions” play no role in the rise and decline of economies. But in this particular case, so little seems established about the descriptive statistics, let alone the “growth accounting”, of Greek economic expansion in 800-300 BCE that it’s premature to be speculating about its institutional causes.
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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 Data We Have vs. the Data We Need: A Comment on the State of the “Divergence” Debate (Part I) | The NEP-HIS Blog
https://nephist.wordpress.com/2017/06/06/the-data-we-have-vs-the-data-we-need-a-comment-on-the-state-of-the-divergence-debate-part-ii/
https://twitter.com/pseudoerasmus/status/832260704690434048
Maybe as reaction to Pomeranz, the Great Divergence gets dated earlier & earlier & earlier on the slimmest evidence. Next: Pangaea breakup
https://twitter.com/pseudoerasmus/status/876088100774174720
I think it's a bit out of control, the urge to keep bringing the roots of the great divergence earlier and earlier and earlier
https://twitter.com/pseudoerasmus/status/628527390453538816
@s8mb @antonhowes I am impatient w explanations which do not start w origination/adoption/diffusion technology as proximate cause
@s8mb @antonhowes in respect of which finance, market integration, & formal institutions all dead ends for divergence of West with the Rest
https://twitter.com/pseudoerasmus/status/847054219790159879
Are you more with Pomeranz that there's not major difference until c. 1750 or 1800, or do you put departure much earlier?
it's now beyond doubt established there was a major diff in living standards, state capacity, market integr+
between the most advanced regions of China and the most advanced regions of Europe, no doubt
https://twitter.com/pseudoerasmus/status/534328741754048512
@bswud +broadberry estimates evidence groupthink on matter (i.e., everyone wants to locate precursor to IR earlier and earlier) @antonhowes

The Little Divergence: https://pseudoerasmus.com/2014/06/12/the-little-divergence/
http://voxeu.org/article/european-and-asian-incomes-1914-new-take-great-divergence
The Early Transformation of Britain's Economy: https://growthecon.com/blog/Britain-Shares/
There’s a nice working paper out by Patrick Wallis, Justin Colson, and David Chilosi called “Puncturing the Malthus Delusion: Structural Change in the British Economy before the Industrial Revolution, 1500-1800”. The big project they undertake here is to mine the probate inventories (along with several other sources) from Britain in this period to build up a picture of the rough allocation of workers across sectors. They do a very nice job of walking through their data sources, and the limitations, in the paper, so let me leave those details aside. In short, they use the reported occupations in wills to back out a picture of the sectoral structure, finding it consistent with other sources based on apprentice records, as well as prior estimates from specific years.

http://scholars-stage.blogspot.com/2013/11/another-look-at-rise-of-west-but-with.html
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june 2017 by nhaliday
PRE-INDUSTRIAL INEQUALITY*
Fig. 1: maximum possible Gini index still allowing subsistence of population (all surplus redistributed to 1 head honcho)
Fig. 2: scatter plot of Gini vs income, as well as possibility frontier

Ye Olde Inæqualitee Shoppe: https://pseudoerasmus.com/2014/10/01/inequality-possibility-frontier/
Gini indices, mean income, maximum feasible Gini, and "inequality extraction ratios" (gini2/max poss. inequality): https://pseudoerasmus.files.wordpress.com/2014/09/blwpg263.pdf
Growth and inequality in the great and little divergence debate: a Japanese perspective: http://onlinelibrary.wiley.com/doi/10.1111/ehr.12071/epdf
pdf  study  pseudoE  economics  growth-econ  broad-econ  inequality  industrial-revolution  agriculture  compensation  wealth-of-nations  wealth  britain  history  medieval  early-modern  europe  the-great-west-whale  🎩  cultural-dynamics  econ-metrics  data  multi  article  modernity  rent-seeking  vampire-squid  elite  india  asia  japan  civilization  time-series  plots  volo-avolo  malthus  manifolds  database  iron-age  mediterranean  the-classics  conquest-empire  germanic  gallic  latin-america  world  china  leviathan  usa  measurement  crosstab  pro-rata  MENA  africa  developing-world  distribution  archaeology  taxes  redistribution  egalitarianism-hierarchy  feudal 
june 2017 by nhaliday
Biological Measures of the Standard of Living - American Economic Association
https://academic.oup.com/oep/article-abstract/66/2/349/2362600/How-have-Europeans-grown-so-tall
The evidence suggests that the most important proximate source of increasing height was the improving disease environment as reflected by the fall in infant mortality. Rising income and education and falling family size had more modest effects. Improvements in health care are hard to identify, and the effects of welfare state spending seem to have been small.

GROWING TALL BUT UNEQUAL: NEW FINDINGS AND NEW BACKGROUND EVIDENCE ON ANTHROPOMETRIC WELFARE IN 156 COUNTRIES, 18101989: https://pseudoerasmus.files.wordpress.com/2017/03/baten-blum-2012.pdf
This is the first initiative to collate the entire body of anthropometric evidence during the 19th and 20th centuries, on a global scale. By providing a comprehensive dataset on global height developments we are able to emphasise an alternative view of the history of human well-being and a basis for understanding characteristics of well-being in 156 countries, 1810-1989.

Bones of Contention: The Political Economy of Height Inequality: http://piketty.pse.ens.fr/files/BoixRosenbluth2014.pdf
- Carles Boix, et al.

Height in the Dark Ages: https://pseudoerasmus.com/2014/06/12/aside-angus-maddison/
study  economics  growth-econ  broad-econ  history  early-modern  mostly-modern  measurement  methodology  embodied  health  longevity  sapiens  death  wealth  pseudoE  🎩  multi  epidemiology  public-health  roots  europe  policy  wonkish  healthcare  redistribution  welfare-state  disease  parasites-microbiome  wealth-of-nations  education  top-n  data  world  pdf  political-econ  inequality  farmers-and-foragers  leviathan  archaeology  🌞  article  time-series  civilization  iron-age  mediterranean  medieval  gibbon  the-classics  demographics  gender  britain  evidence  traces 
june 2017 by nhaliday
An Economic Analysis of the Protestant Reformation
- Ekelund, Hébert, Tollison

This paper seeks to explain the initial successes and failures of Protestantism on economic grounds. It argues that the medieval Roman Catholic Church, through doctrinal manipulation, the exclusion of rivals, and various forms of price discrimination, ultimately placed members seeking the Z good "spiritual services" on the margin of defection. These monopolistic practices encouraged entry by rival firms, some of which were aligned with civil governments. The paper hypothesizes that Protestant entry was facilitated in emergent entrepreneurial societies characterized by the decline of feudalism and relatively unstable distribution of wealth and repressed in more homogeneous, rent-seeking societies that were mostly dissipating rather than creating wealth. In these societies the Roman Church was more able to continue the practice of price discrimination. Informal tests of this proposition are conducted by considering primogeniture and urban growth as proxies for wealth stability.

Causes and Consequences of the Protestant Reformation: https://pseudoerasmus.files.wordpress.com/2017/01/becker-pfaff-rubin-2016.pdf
- Sascha O. Becker, Steven Pfaff, Jared Rubin

The Protestant Reformation is one of the defining events of the last millennium. Nearly 500 years after the Reformation, its causes and consequences have seen a renewed interest in the social sciences. Research in economics, sociology, and political science increasingly uses detailed individual-level, city-level, and regional-level data to identify drivers of the adoption of the Reformation, its diffusion pattern, and its socioeconomic consequences. We take stock of this research, pointing out what we know and what we do not know and suggesting the most promising areas for future research.

Table 1: Studies of the Supply and Demand-Side Factors of the Reformation
Table 2: Studies on the Consequences of the Reformation: Human Capital
Table 3: Studies on the Consequences of the Reformation: Work and Work Ethic
Table 4: Studies on the Consequences of the Reformation: Economic Development
Table 5: Studies on the Consequences of the Reformation: Governance
Table 6: Studies on the “Dark” Consequences of the Reformation

LUTHER AND SULEYMAN: http://www.jstor.org.sci-hub.tw/stable/40506214
- Murat Iyigun

Various historical accounts have suggested that the Ottomans' rise helped the Protestant Reformation as well as its offshoots, such as Zwinglianism, Anabaptism, and Calvinism, survive their infancy and mature. Utilizing a comprehensive data set on violent confrontations for the interval between 1401 and 1700 CE, I show that the incidence of military engagements between the Protestant Reformers and the Counter-Reformation forces between the 1520s and 1650s depended negatively on the Ottomans' military activities in Europe. Furthermore, I document that the impact of the Ottomans on Europe went beyond suppressing ecclesiastical conflicts only: at the turn of the sixteenth century, Ottoman conquests lowered the number of all newly initiated conflicts among the Europeans roughly by 25 percent, while they dampened all longer-running feuds by more than 15 percent. The Ottomans' military activities influenced the length of intra-European feuds too, with each Ottoman-European military engagement shortening the duration of intra-European conflicts by more than 50 percent. Thus, while the Protestant Reformation might have benefited from - and perhaps even capitalized on - the Ottoman advances in Europe, the latter seems to have played some role in reducing conflicts within Europe more generally.

Religious Competition and Reallocation: The Political Economy of Secularization in the Protestant Reformation: http://www.jeremiahdittmar.com/files/RRR_20170919.pdf
- Davide Cantoni, Jeremiah Dittmar, Noam Yuchtman*

Using novel microdata, we document an unintended, first-order consequence of the Protestant Reformation: a massive reallocation of resources from religious to secular purposes. To understand this process, we propose a conceptual framework in which the introduction of religious competition shifts political markets where religious authorities provide legitimacy to rulers in exchange for control over resources. Consistent with our framework, religious competition changed the balance of power between secular and religious elites: secular authorities acquired enormous amounts of wealth from monasteries closed during the Reformation, particularly in Protestant regions. This transfer of resources had important consequences. First, it shifted the allocation of upper-tail human capital. Graduates of Protestant universities increasingly took secular, especially administrative, occupations. Protestant university students increasingly studied secular subjects, especially degrees that prepared students for public sector jobs, rather than church sector-specific theology. Second, it affected the sectoral composition of fixed investment. Particularly in Protestant regions, new construction from religious toward secular purposes, especially the building of palaces and administrative buildings, which reflected the increased wealth and power of secular lords. Reallocation was not driven by pre-existing economic or cultural differences. Our findings indicate that the Reformation played an important causal role in the secularization of the West.

look at Figure 4, holy shit

History: Science and the Reformation: http://www.nature.com/nature/journal/v550/n7677/full/550454a.html?WT.mc_id=TWT_NatureNews&sf126429621=1
The scientific and religious revolutions that began 500 years ago were not causally related, but were both stimulated by printing, argues David Wootton.
https://twitter.com/whyvert/status/923940525673103360
https://archive.is/JElPv
No, the Reformation did not cause the scientific revolution. Nice brief article. 👍

No RCT = No causal claims, for or against ;)
Though I'm open to a regression discontinuity design! cc: @pseudoerasmus
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may 2017 by nhaliday
Proportionality: the fairness of inequality - The Unz Review
At this stage it should be made clear that all the “equality in the lab” researchers have not been telling lies. They are aware that inequality and unfairness are being confounded, but that message has been downplayed in the telling. From a research strategy perspective, I think it shows how a particular approach (strangers in a lab) fails to produce results which map onto real world observations. When participants come together without any back history, the ideal of equality rules. When the fuller context is given a chance to be considered, then subjects in an experiment have no hesitation in rewarding those people who rise early to go to work over those who rise late to do nothing.

https://www.nature.com/articles/s41562-017-0082
Drawing upon laboratory studies, cross-cultural research, and experiments with babies and young children, we argue that humans naturally favour fair distributions, not equal ones, and that when fairness and equality clash, people prefer fair inequality over unfair equality. Both psychological research and decisions by policymakers would benefit from more clearly distinguishing inequality from unfairness.

http://www.nature.com/nature/journal/v528/n7581/full/nature15703.html
We measured two key aspects of fairness decisions: disadvantageous inequity aversion (peer receives more than self) and advantageous inequity aversion (self receives more than a peer). We show that disadvantageous inequity aversion emerged across all populations by middle childhood. By contrast, advantageous inequity aversion was more variable, emerging in three populations and only later in development. We discuss these findings in relation to questions about the universality and cultural specificity of human fairness.

Three countries that exhibited AI aversion were USA, Canada (only WEIRD countries studied), and Uganda (interesting). Senegal was different.

The Mexican (think they were Mayan) children didn't have much of a reaction in any case.
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may 2017 by nhaliday
The origins of the Forbes 400 - Marginal REVOLUTION
I view it this way.  Generational connections now matter less and starting with lots of working capital matters less.  Smarts, drive, and education all matter more.
econotariat  marginal-rev  economics  trends  data  demographics  distribution  class  wealth  inequality  coming-apart  elite  lived-experience  technocracy  human-capital  education 
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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