96% of Hindus in the US have at least a college degree or its equivalent.
Here is the source.
96% of Hindus in the US have at least a college degree or its equivalent.
Here is the source.
4. The Coase theorem fails in London (NYT).
A series of research studies identifies the fundamental factors behind trade imbalances (Chinn and Prasad 2003 (link is external); Gruber and Kamin 2008 (link is external); Chinn, Eichengreen, and Ito 2011 (link is external); Gagnon 2012; IMF 2012 (link is external); Gagnon 2013; Bayoumi, Gagnon, and Saborowski 2015 (link is external); and Gagnon et al. 2017 (link is external)).2 The most important factors include fiscal policy, intervention in currency markets, trend economic growth rates, per capita income levels, and prospective population aging. Barriers on financial flows have an important interaction with these factors; when financial markets are open, these factors generally have a larger effect on trade imbalances. Many studies focused on long-term factors, but business cycles may also be an important temporary factor. None of the studies found any role for trade barriers.
Figures 1 and 2 show little apparent correlation between average tariff rates or overall trade barriers and trade balances. If anything, higher tariffs are associated with lower trade balances (larger deficits). Including tariffs in regression analysis that controls for other factors yields an effect that is close to zero.
That is from Joe Gagnon, via Mark Thoma. There are some useful pictures at the link.
Oeindrila Dube and S.P. Harish have a new NBER working paper called “Queens”:
Are states led by women less prone to conflict than states led by men? We answer this question by examining the effect of female rule on war among European polities over the 15th-20th centuries. We utilize gender of the first born and presence of a female sibling among previous monarchs as instruments for queenly rule. We find that polities led by queens were more likely to engage in war than polities led by kings. Moreover, the tendency of queens to engage as aggressors varied by marital status. Among unmarried monarchs, queens were more likely to be attacked than kings. Among married monarchs, queens were more likely to participate as attackers than kings, and, more likely to fight alongside allies. These results are consistent with an account in which marriages strengthened queenly reigns because married queens were more likely to secure alliances and enlist their spouses to help them rule. Married kings, in contrast, were less inclined to utilize a similar division of labor. These asymmetries, which reflected prevailing gender norms, ultimately enabled queens to pursue more aggressive war policies.
Why would the kings have been less likely to marry for purposes of war? Is it because they actually were entranced with love, whereas queens are more practical?
That is the title of a new paper by Christopher McConnell, Yotam Margalit, and Neil Malhotra. The main (and sad) point is that even in non-political settings we trust other people less if they have different political views than ours:
With growing affective polarization in the United States, partisanship is increasingly an impediment to cooperation in political settings. But does partisanship also affect behavior in non-political settings? We show evidence that it does, demonstrating its effect on economic outcomes across a range of experiments in real-world environments. A field experiment in an online labor market indicates that workers request systematically lower reservation wages when the employer shares their political stance, reflecting a preference to work for co-partisans. We conduct two field experiments with consumers, and find a preference for dealing with co-partisans, especially among those with strong partisan attachments. Finally, via a population-based, incentivized survey experiment, we find that the influence of political considerations on economic choices extends also to weaker partisans. Whereas earlier studies show the political consequences of polarization in American politics, our findings suggest that partisanship spills over beyond the political, shaping cooperation in everyday economic behavior.
For the pointer I thank Daniel Klein.
The central government told the Supreme Court on Monday that it wants an Aadhaar-like unique identification system for cows to track their movement and prevent inter-state and inter-country smuggling. Adducing a report by a committee appointed by the Union Home Ministry, Solicitor General Ranjit Kumar told a bench led by Chief Justice of India J S Khehar that the Centre has approved the recommendations in principle. The bench posted the matter for detailed hearing on Tuesday.
The committee, headed by a Joint Secretary in the MHA, was constituted after the apex court prodded the government to stop smuggling of cattle, especially through the porous borders with Nepal and Bangladesh. “Each animal (should) be tagged with a unique identification number with proper records of identification details such as age, breed, sex, lactation, height, body, colour, horn type, tail switch, special mark etc,” says the report.
I loved The Dispossessed as a kid, though The Left Hand of Darkness was considered the best of her novels.
I am about to read The Word for World Is Forest. The idea of space travel privileging homosexuality really struck me as a child. Perfectly practical and nifty idea. Why shouldn’t there be something that gay people are more suited for?
That is interesting.
Reproduction in space travel is a really bad idea. So gay people are the way to go.
The interview is interesting throughout.
Mishpacha Magazine featured an article by Philanthropist, Shlomo Yehuda Rechnitz of Los Angeles California discussing his view and approach to the age gap problem in frum circles and calling the current situation a Shidduch Catastrophe. In the article he discussed an idea to help solve the age gap and offered an incentive to marry off older girls for the upcoming year…
INCENTIVE: Subsidize money paid to the matchmaker:
For the upcoming calendar year of 5775, Mr. Rechnitz is offering to supplement the shadchanus of anyone successful in marrying off a girl age 25 or older, to a boy her age or younger, so that they receive a total compensation of $10,000. Certain minor conditions apply. This offer isn’t only for professional shadchanim. It applies to anyone and everyone, every age, race, or gender who makes a successful Shidduch that meets the criteria.
Shlomo Yehuda Rechnitz has approached the mission of marrying off all the girls in Los Angeles with the same intensity as he does for his own daughters. All the major shadchanim are aware that when any Los Angeles girl doesn’t have the funds for plane fare for a date, the shadchan can — without asking — automatically book the tickets and rental car, if necessary, for either the boy or girl, on the Rechnitz account. In addition, any shadchan who marries off a Los Angeles girl has his shadchanus supplemented to $4,000. If the shadchan can get a couple to date at least four times, they receive $500.
There is video at the link, and the comments offer several points of interest as well. I am told by one reader that the 19k bounty has been discontinued. Here is related coverage from Time, with an extensive discussion of the Mormon dating crisis as well. Here is a very interesting article on Orthodox dating in Jerusalem.
For the pointers I thank Yehuda S.
(By the way, if you’re feeling superior and taking comfort that Europe will go first off the cliff, Kotlikoff disagrees. Europe’s debts are larger, but their social programs are better funded, so their fiscal gaps are much lower than ours. The winner, it turns out, is Italy with a negative fiscal gap. Answering the obvious question, Kotlikoff offers
“What explains Italy’s negative fiscal gap? The answer is tight projected control of government- paid health expenditures plus two major pension reforms that have reduced future pension benefits by close to 40 percent.”Don’t get sick or old in Italy, but perhaps buying their bonds is not such a bad idea.)
That is from John Cochrane, with many more interesting points at the link, most of all about debt monetization and why these days it won’t prove very effective.
But the revered Icelandic language, seen by many as a source of identity and pride, is being undermined by the widespread use of English, both in the tourism industry and in the voice-controlled artificial intelligence devices coming into vogue.
…A number of factors combine to make the future of the Icelandic language uncertain. Tourism has exploded in recent years, becoming the country’s single biggest employer, and analysts at Arion Bank say that half of new jobs are being filled by foreign workers.
…The problem is compounded because many new computer devices are designed to recognize English but not Icelandic.
“Not being able to speak Icelandic to voice-activated fridges, interactive robots and similar devices would be yet another lost field,” Mr. Jonsson said.
Here is the interesting NYT piece.
4. Model this (photo of the British electoral process).
5. Software that produces and sells its own art. And you can own a piece of it.
Lim had told me that Singapore holds a strategic sand reserve, for emergencies. It lies somewhere near the area called Bedok, I said. I spotted it one day as I rode past in a taxi. The site was strewn with No Trespassing signs, installed by the Housing and Development Board, a government agency. Fenced off from the public, the giant trapezoidal dunes shone bone-white in the sun and caramel in the shade, as the sand waited to be summoned.
That is from an excellent piece by Samanth Subramanian (NYT), about Singapore, land, and preparing for climate change. The Singaporean constitution also devotes several pages to outlining how the government will manage its investments.
Dennis was actually the first stagnation theorist I read, at about the age of eighteen, due to a recommendation from Walter Grinder. His strength is to tie stagnationist claims into the political economy of war. This is from 1940 (book link here), I hope it is no longer relevant:
The importance of clearly understanding the dynamic and purely unmoral function of change cannot be exaggerated at a time like this when the major problem is stagnation. America’s problem of unemployment could be solved by rebuilding America or going to war with Japan. The war with Japan is more likely. Why? The answer is that our social philosophy recognizes a need for national defense but not for social dynamism.
…stagnation in any culture is far more normal or usual than what we have been accustomed to think of as progress.
I found this interesting:
A civilization must exalt a tradition of heroism. This it may do in war or pyramid building. Liberalism never glorified heroism in theory but, in its frontier empire-building days, it exemplified heroism in its practice.
You can read Dennis as an extension of the Henry George model, except he is more bullish about population growth and adds the variable of war. In the George model, there are increasing returns and so city life becomes crowded and the scarce factor of land captures the social surplus. Think San Francisco or Singapore. Dennis assumes diminishing returns, and so the frontier is usually more potent than the city, if only a frontier can be kept open and alive. But that is hard to do because it runs against the natural desire of so many human beings for stasis, and thus capitalism tends to evolve into a kind of socialistic fascism.
Dennis, by the way, had an interesting life. Unlike most “alt right” writers, he was half black, but his skin was pale so he was able to pass for white. (In fact he started life as a child preacher, touring the south, accompanied by his African-American mother.) He spent some of his energies trying to convince his “fellow travelers” to support civil rights for blacks, but without much success, and he also was desperately afraid of being unmasked.
Early in his career, he was accepted into mainstream American intellectual life and hung out with elites, rising to the top through the State Department and Wall Street. As the 1930s passed, he became more extreme and the center became more hostile to fascist and semi-fascist ideas, especially if bundled with tolerance for potentially hostile foreign powers. His career had a long downward trajectory, and during World War II he was tried for sedition, though he got off and later died in obscurity, after a final gig as a critic of the Cold War. Gerald Horne wrote a very interesting biography of Dennis.
3. “Take back control? Make America great again? Restore the caliphate? We can do better than these. Storytellers, now is the time to try.” Link here.