by Tyler Cowen
on March 29, 2014 at 12:45 pm
1. Crowdfunding as part of the market discovery mechanism.
2. What it’s like to be a professional line sitter.
3. Advice from Charles Murray.
4. The evolution of automated news stories.
5. What will happen to the World Bank when China “graduates”?
1. Barry is usually right but wrong on this
2. markets in everything
3. “The transition from college to adult life is treacherous, and this is nowhere more visible than among new college graduates in their first real jobs.” just another reason to be a STEM major or economist from a good university because they get paid a lot. What’s weird is he make no allusions to his work on sociology or IQ.
4. if algorithms can make slate or salon quality articles that’s gonna mean a lot of unemployed liberal arts majors
I’m a non-STEM major making double what I would have made if I chose STEM. So please shut up already.
Perhaps if you did study STEM you would have learned that N = 1 does not a good argument make. So please shut up already.
Your sample size of kind of small. I’m more interested in how you could possibly know what you’d be making if you “chose STEM” , or any other major than the one you chose. So please don’t shut up; I’d like to hear more on that one.
3. The typical “you should have my preferences and culture” self-help advice. Thanks elderly rich white dude! At least Murray realizes he’s being curmudgeonly I guess.
He thinks you should be ambitious for fame and fortune. Pursue the second if you like; pursuing the first seems mad to me.
1. So if you are white or old you should just shut up because your ideas are invalid? (And is Murray even rich?)
2. Did you even read the piece? He explicitly says people differ in preferences and should try to find a mate that matches their personality.
“Thanks elderly rich white dude!” Ageist, sexist and racist: well done!
Perhaps you missed my rather obvious argument that self-help of the form “be like me” is not broadly applicable across groups and that I was pointing out which groups Charles Murray is a member of. You can use your own imagination about the relative privileges about rich, white, old, and male compared to others presently and historically.
Wait, there was an argument?
You have a point. You’d definitely need an imagination.
The advice given is pretty solid for most people of all shapes, colors, ect.
The advice to pick a mate similar to you is equivalent in your mind to “be like me”?
Perhaps you missed my rather obvious argument that self-help of the form “be like me” is not broadly applicable across groups ”
I didn’t get the impression that “be like me” was part of Murray’s argument.
Elderly rich white dudes (ERWDs) probably constitute the most well-adjusted, least dysfunctional and happiest demographic in modern America. ERWDs also probably have the preferences and cultures best oriented towards leading a meaningful, happy and productive life. A shift on the margin of the rest of America towards the preferences and culture of ERWDs would probably have significantly positive implications both on an individual and societal level.
It is more than that. People like Charles Murray, elderly rich, Anglo-Saxon, dudes are responsible pretty much for modern civilization. Peoples close to them culturally and ethnically can make it work too, but WASPs invented the modern world. It has proven stubbornly difficult to export that model to anyone else.
As it happens, that culture is breaking down. Among the poor Whites first. So it is increasingly a culture confined to the moderately wealthy. Pretty much all we rely on in the modern world from discovering new drugs to finding Malaysian airliners to having functioning schools, depends on elderly rich White dudes turning up to work and doing what has to be done.
If you doubt this, feel free to move to Detroit.
Using a computer to write about how you hate white men is just about the height of unintended irony.
Moron grade racism, just shit tier. I wonder what contributions you’re making to modern civilization.
Abuse is rarely a good substitute for rational thinking. Explain where the racism is in what is clearly an argument about culture.
But even if it is racist, it is also true. It ought to be simple for everyone else to modernize once the West has done it. The hard thing is inventing a microprocessor. But buying a turn-key Fab and producing your own is relatively simple.
Yet virtually no one has been able to do it. And it is do-able because the Japanese and South Koreans have done it. More or less.
I’m just entertained by calling you a sack of shit. Puts a smile on my face.
No need to explain, Timothy, it was apparent from your first post that you get moist from making sanctimonious accusations.
It has proven stubbornly difficult to export that model to anyone else.
Several East Asian countries seem to have produced a reasonable facsimile.
Thanks everyone for missing the point!
So your argument is that within age-race-wealth groups preferences are homogenous, whereas there’s no overlap to speak of between the groups? Great point!
If you want people to get your point, perhaps you should actually offer one.
Actually he said you should have your spouse’s preferences and culture. Given your contempt for elderly rich white dudes, you should probably find another hateful racist like yourself if you want a successful marriage. I guess.
The purchase of oculus shows not the utility of crowdfunding for market research but the desperate need for crowdfunding startup equity for ordinary (i.e. non-accredited) investors. The JOBS act can’t be implemented too soon.
Line standing in DC goes back many years
1. That brings out the information carrying capacity of money rather directly …
5. The purpose of the World Bank, as with all other public institutions, is to provide comfortable pensions for their workers. After a lifetime of non-too-stressful office occupation.
Therefore when China grows too rich for World Bank advice, they will find something else to do. Lending to provinces perhaps. Or going back to Africa – although that won’t be popular as you get typhoid and the prostitutes are not as cheap or obliging as in East Asia.
What we can be sure of is, like the poor, the World Bank will always be with us. Just as the British set up an office in India to hunt for people involved in the (alleged) Thugee sect. And it still exists.
In Pakistan a line sitter outside government departments is called an agent. He does not wait in line. Instead he has contacts in govt. departments with whom he shares what you pay him. In other words it’s bribery. Works well because no one wastes time waiting in line. You guys should try it sometime.
Actually a lot of Western countries do this now. If you apply for a passport most places, you can pay a lot more and get an expedited application.
It has the advantage of transferring the cash from the “agent” to the bureaucracy – and in an open and transparent way. The downside to both systems is that you create an incentive for the bureaucracy to process your application as slowly as possible. It just forces more people to pay more after all.
China has talked about allowing hospitals to open VIP lanes. For which, of course, they would have to pay more. They too have professional line sitters. This would abolish them and transfer the money to the hospital which may be a public good. I assume most private health care systems do something similar with the more expensive plans paying for preferential treatment.
No corruption in the United States, we legalized it all.
I suspect, from the number of links on this topic, that Tyler thinks the professional line sitter is a crafty market solution to a real problem of wasting the time of “valuable” people and, probably, employing otherwise ZMP workers.
And I can see how you’d think that if you thought the market (mostly) pays for value creation.
If, however, you’re one (of the majority?) who thinks not only that most top jobs entail value destroying activities — salesmanship, relationship exploitation, rent collection — but also that most of the people who land those jobs aren’t even particularly good at them — seriously, what percentage of promotions actually go to the best candidate? Half, maybe? — then the notion of rich people hiring others so they don’t have to sit in line with you is about the most obnoxious idea in history.
Granted, when they’re simply paying the government more, they’re theoretically reducing my tax burden through a voluntary payment, but that theory is nonsense because, in practice, the extra money just gets lit on fire. So I don’t get all that happy when successful ambulance chasers bypass me in the security line at the airport.
I fail to see any demolition in what is just a long hysterical screed of abuse.
And what is dishonest about what Murray says? That IQ has a genetic component is incontrovertible. That there are racial differences is likewise a matter of scientific record. The science may be wrong, but all the science says it exists – and exists exactly as Murray says it does.
Joan Walsh and Paul Krugman just don’t like his conclusions. Passionately. But that does not mean he is wrong.
Notice that Coming Apart is the exact opposite of what Murray is usually accused of – genetic determinism. Poor Whites used to be decent, respectable and hard working. Now they are Poor White trash. Or rich White trash if they have a reality TV show. Their genes have not changed, their religious practices and hence culture have.
She’s Salon’s editor at large? That explains so, so much about its quality.
Salon has an odd idea of what a debunking is supposed to be.
What are the “top jobs”? Top 1%? So like, doctors? Value destroying, eh? Even salesmen… value destroying??
The lion’s share of doctor income comes not from the value the generate by healing the sick but from the fact that they collectively license medical schools and thus block 80% of the nation’s capable would-be doctors from entering the market, driving wages down and generating more value.
And doctors were the best you could come up with.
To Charles Murray and all others, let me give you some advice:
Resist the urge to give advice.
Thanks for the Charles Murray link, that just saved me 10 bucks. If that is all is at all representative of the book, I most certainly do not need to read it.
So you were planning on buying it before you read the linked article?
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