Saturday assorted links


#3 We seem to have shifted the argument to : OK growth is lower now, but so what life satisfaction is more important

Call it the big screen TV approach.

#5. “Chinese agents on your staff": how outrageous. The Guardian traditionally employs agents of the USSR and the IRA. I suppose the demise of the first left a bit of an agent deficiency crisis. "He has three children ... He is closely involved with them, when his Downing Street duties permit": wonderfully cruel by Mr Beckett.

'The Guardian traditionally employs agents of the USSR and the IRA.'

Not to mention proles - the Guardian also has the temerity to employ the sort of people that one associates with the dregs of the working class, even highlighting literature from those now degraded as 'chavs.'

you could not be more wrong PA. The Guardian is the home of nepotism in UK press. It can afford this despite it's minuscule circulation thanks to the Scott's Trust.

Please note that the Scott Trust is no more. It's now "The Scott Trust Ltd" though the paper, strangely, frequently omits the "Ltd" when it refers to it. Abolishing the Trust was done for the same reason as it was originally set up for - tax dodging.


All's Well. Relax. Buy more U.S. government debt, Wall St stocks, and iPhones.

GDP is a rock solid metric of U.S. Economy health and trend.

(that Jim Hamilton guy is brilliant) ☻

"main thesis is that the low-hanging fruit of technology has, essentially, been picked. He argues that a small handful of Great Inventions -- electricity, the internal combustion engine and a few others -- propelled growth to dizzying speeds from about 1870 through 1970. But there are only so many big important ideas like this to be discovered."

"our economy has enjoyed low-hanging fruit since the seventeenth century: free land, immigrant labor, and powerful new technologies. But during the last forty years, the low-hanging fruit started disappearing"

One of these is from the Bloomberg review of Gordon's book, one of these is the description of The Great Stagnation...

So does Gordon essentially rehash Cowen's argument, but then come to a pessimistic outcome? Is this similarity not widely noticed?

On government, Noah Smith ought to take a look at Reputation-Based Governance by Lucio Picci, which argues that the intelligent use of widely available Internet technologies can transform the quality of public governance. Gordon too. And, yes, Tyler got there earlier (and has been more consistent).

#5 - I had always assumed the closest thing we have to a real life Mycroft Holmes made his money playing bridge on yachts and at Mediterranean resorts. Seriously, though, as George Stigler made clear decades ago, accumulation of knowledge is not a zero-sum game and (this is not George Stigler anymore, this is me) the guy who gets to do a similar job for twenty years or more - even a rare job like making and fielding phone calls for leaders of nations - is going to look a lot smarter than he is simply because of the accrued benefits from the opposite of the tragedy of the commons (call it the "protected accumulation of elite skills" if you want to sound like you know what you are talking about). Anyway, the shadowy realism of the Mycroft character was a good choice by the writer of the Holmes stories, it lent an air of reality to the excessively intellectual view of crime and punishment that popular "mystery" stories are so prone to.

Probably this guy is pretty smart intellectually but likely he also has good judgement as well which is not always the same thing. He also appears willing to subordinate his ego for the success of others which is rare in elite intelligence. Add that to his experience as you say and you can see why he is valued by his bosses. But that doesn't mean he is possessed of magical powers of insight like Mycroft Holmes.

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