Assorted links


1) That's free-riding, not arbitrage, as the article clearly notes.

In other news, Tyler_Cowen *really* reads everything he claims to have.

No one has a good theory of collateral.

No one has a good theory of gravity either, but we muddle along.

gravity is a myth; the earth sucks

I have a request (do you take requests?) for a prosaic, but timely, post both because of holiday spending and because of Alex's Altruism kick: How should a reader direct Amazon purchases among the blogging Amazon affiliates or associates?

Should I work to allocate all my purchases among various blogs or just pump it through my favorite? How do I know what my favorite is? How long I linger (why reward verbosity), the best once-a-week post? The best seasonal blog? The best linking blog?

Maybe, the blog that educates and challenges the most? Daniel Kahneman would say that wastes precious calories, that I should prefer intuitively gratifying sites.) Sextus Empiricus would ask how do I know I'm learning anything?

L'il help?

#6 They seem to put a lot of emphasis on getting people to learn stuff that is only useful to 99% of us in school. I will be interested in how that turns out. Are they mistaking signaling for training? If you could magically teach everyone in the country how to factor quadratic equations with facility what would have accomplished (we actually have the equivalent in computers.) considering the research on transfer of knowledge shows very little transfer from one type of task to another. Do you just destroy the value of the signal? Don't most of us learn to factor quadratic equations to show how smart we are.

They're in the education business, by definition they're in the business of wasting people's time.

Your emphasis on quadratic equations is misleading, since the topic has fairly limited use. Let me pose a slightly different question:
If you could magically teach everyone in the country how to determine statistical significance with facility what would have accomplished?
In this case, I'd say a great deal. Most people are pretty bad at understanding even the most basics principals of statistics. (I'll point to the existence of state lotteries and Las Vegas as the most obvious examples).
And honestly they emphasize school topics, because that's their primary markets. There are plenty of other very interesting lectures as well:
Stock Dilution
Fair Value Accouting
American Call options
Vitamin C and the Limey's
How Earth's Tilts causes seasons
Firestick Farming

And literally hundred's more. And it's all Free.
Correlation and Causality
Heart Disease and Heart Attacks

#5...That's fun, a guy that works with a Koch-funded organization linking to some guys at a Soros-funded organization.

I liked the donkey article but could find no reference to royalty.

From the article:

"Today, they live on an 11,000-acre estate called Angmering Park, owned by Anne Herries, the daughter of a late Duke of Norfolk."

I think that's more like British aristocracy than royalty, but I assume that's where the idea came from.

The Norfolks ain't royal; they are, however, often executed.

What's the difference between aristocracy and royalty?

The Magna Carta.


Weren't the medieval city states pretty close to a plutocracy?

Generally, aristocracy is the entire ruling class of a monarchy while royalty is the extended family of the monarch. So royalty is a subset of the aristocracy.

Except you don't need a monarchy to have an aristocracy, Examples include medieval Italian city states and the early Dutch republic.

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