Month: December 2025
Does studying economics and business make students more conservative?
College education is a key determinant of political attitudes in the United States and other countries. This paper highlights an important source of variation among college graduates: studying different academic fields has sizable effects on their political attitudes. Using surveys of about 300,000 students across 500 U.S. colleges, we find several results. First, relative to natural sciences, studying social sciences and humanities makes students more left-leaning, whereas studying economics and business makes them more right-leaning. Second, the rightward effects of economics and business are driven by positions on economic issues, whereas the leftward effects of humanities and social sciences are driven by cultural ones. Third, these effects extend to behavior: humanities and social sciences increase activism, while economics and business increase the emphasis on financial success. Fourth, the effects operate through academic content and teaching rather than socialization or earnings expectations. Finally, the implications are substantial. If all students majored in economics or business, the college–noncollege ideological gap would shrink by about one-third. A uniform-major scenario, in which everyone studies the same field, would reduce ideological variance and the gender gap. Together, the results show that academic fields shape students’ attitudes and that field specialization contributes to political fragmentation.
That is a recent paper from Yoav Goldstein and Matan Kolerman. Here is a thread on the paper.
Monday assorted links
1. New Yorker best films of 2025. The full panoply (not always available to actual viewers in advance) is in fact quite good, once the full list is out.
2. Individual home NIMBY in Fairfax.
3. Jerry Muller Substack and intellectual biography.
4. Mick West sides with a guy with 286 Twitter followers over classified intelligence, based on multiple sensor readings. Russian drone incursions are not seriously doubted…except by him (no doubt some are mistaken observations ofc).
6. Scott Alexander on the vibecession.
7. The New School will cut or pause 25 different programs.
8. On new, for-profit cities (FT).
9. Are global aesthetics flattening India’s fashion imagination?
Political Organization in Pre-Colonial Africa
We provide an overview of the explanations for the relative lack of state formation historically in Africa. In doing so we systematically document for the first time the extent to which Africa was politically decentralized, calculating that in 1880 there were probably 45,000 independent polities which were rarely organized on ethnic lines. At most 2% of these could be classified as states. [emphasis added by TC] We advance a new argument for this extreme political decentralization positing that African societies were deliberately organized to stop centralization emerging. In this they were successful. We point out some key aspects of African societies that helped them to manage this equilibrium. We also emphasize how the organization of the economy was subservient to these political goals.
That is from a new NBER working paper by Soeren J. Henn and James A. Robinson.
What has gone wrong with tourism to Las Vegas?
Agitators in the city have attempted to document the deterioration by posting ominous images of barren casinos, conjuring the perception of a place hollowed out by economic armageddon. The reality is more nuanced, but it is true that practically every conceivable indicator tracking tourism to Las Vegas is flashing warning signs. Hotel occupancy has cratered. Rooms were only 66.7 percent full in July, down by 16.8 percent from the previous year. The number of travelers passing through Harry Reid International Airport also declined by 4.5 percent in 2025 during an ongoing ebb of foreign tourists, for familiar reasons. Canadians, historically one of the city’s most reliable sources of degenerates, have effectively vanished. Ticket sales for Air Canada jets flying to Las Vegas have slipped by 33 percent, while the Edmonton-based low-cost carrier Flair has reported a 62 percent drop-off.
Here is the full story, which shows it is by no means an exclusively Canadian phenomenon. Overall, I am happy to see a shift away from gambling, drinking, and “shows for wealthy old people”?
Colors of growth
This looks pretty tremendous:
We develop a novel approach to measuring long-run economic growth by exploiting systematic variation in the use of color in European paintings. Drawing inspiration from the literature on nighttime lights as a proxy for income, we extract hue, saturation, and brightness from millions of pixels to construct annual indices for Great Britain, Holland, France, Italy, and Germany between 1600 and 1820. These indices track broad trends in existing GDP reconstructions while revealing higher frequency fluctuations – such as those associated with wars, political instability, and climatic shocks – that traditional series smooth over. Our findings demonstrate that light, decomposed into color and brightness components, provides a credible and independent source of information on early modern economic activity.
That is new research by Lars Boerner, Tim Reinicke, Samad Sarferaz, and Battista Severgnini. Via Ethan Mollick.
The chess culture that is India
Sarwagya Singh Kushwaha has become the youngest player in chess history to earn an official FIDE rating at the age of three years, seven months and 20 days.
Born in 2022, Sarwagya — from Sagar in the central Indian state of Madhya Pradesh — has been rated by FIDE, the international governing body of chess, which requires a player to score points against at least five rated opponents in official events.
The toddler’s first rating of 1572 is considerably above the minimum rating of 1,400, having won five of his eight rated matches. As detailed by chess.com, Sarwagya’s victories have come against opponents including 22-year-old Abhijeet Awasthi (FIDE-rated 1542), 29-year-old Shubham Chourasiya (1559) and 20-year-old Yogesh Namdev (1696).
Sarwagya has broken the record held by another Indian child, Anish Sarkar, who set it at three years, eight months and 19 days old, in November 2024.
Here is more from the NYT, via the excellent Samir Varma.
Sunday assorted links
1. The fight over Romansh (New Yorker).
3. Kelsey Piper responds on Mississippi. She is probably correct.
4. Future VP?
5. Is the political allocation of gay representatives skewed?
6. If Arnold Kling taught conservative thought.
7. Noah is right.
My 2011 Review of Contagion
I happened to come across my 2011 review of the Steven Soderberg movie, Contagion and was surprised at how much I was thinking about pandemics prior to COVID. In the review, I was too optimistic about the CDC but got the sequencing gains right. I continue to like the conclusion even if it is a bit too clever by half. Here’s the review (no indent):
Contagion, the Steven Soderberg film about a lethal virus that goes pandemic, succeeds well as a movie and very well as a warning. The movie is particularly good at explaining the science of contagion: how a virus can spread from hand to cup to lip, from Kowloon to Minneapolis to Calcutta, within a matter of days.
One of the few silver linings from the 9/11 and anthrax attacks is that we have invested some $50 billion in preparing for bio-terrorism. The headline project, Project Bioshield, was supposed to produce vaccines and treatments for anthrax, botulinum toxin, Ebola, and plague but that has not gone well. An unintended consequence of greater fear of bio-terrorism, however, has been a significant improvement in our ability to deal with natural attacks. In Contagion a U.S. general asks Dr. Ellis Cheever (Laurence Fishburne) of the CDC whether they could be looking at a weaponized agent. Cheever responds:
Someone doesn’t has to weaponize the bird flu. The birds are doing that.
That is exactly right. Fortunately, under the umbrella of bio-terrorism, we have invested in the public health system by building more bio-safety level 3 and 4 laboratories including the latest BSL3 at George Mason University, we have expanded the CDC and built up epidemic centers at the WHO and elsewhere and we have improved some local public health centers. Most importantly, a network of experts at the department of defense, the CDC, universities and private firms has been created. All of this has increased the speed at which we can respond to a natural or unnatural pandemic.
In 2009, as H1N1 was spreading rapidly, the Pentagon’s Defense Threat Reduction Agency asked Professor Ian Lipkin, the director of the Center for Infection and Immunity at Columbia University’s Mailman School of Public Health, to sequence the virus. Working non-stop and updating other geneticists hourly, Lipkin and his team were able to sequence the virus in 31 hours. (Professor Ian Sussman, played in the movie by Elliott Gould, is based on Lipkin.) As the movie explains, however, sequencing a virus is only the first step to developing a drug or vaccine and the latter steps are more difficult and more filled with paperwork and delay. In the case of H1N1 it took months to even get going on animal studies, in part because of the massive amount of paperwork that is required to work on animals. (Contagion also hints at the problems of bureaucracy which are notably solved in the movie by bravely ignoring the law.)
It’s common to hear today that the dangers of avian flu were exaggerated. I think that is a mistake. Keep in mind that H1N1 infected 15 to 30 percent of the U.S. population (including one of my sons). Fortunately, the death rate for H1N1 was much lower than feared. In contrast, H5N1 has killed more than half the people who have contracted it. Fortunately, the transmission rate for H5N1 was much lower than feared. In other words, we have been lucky not virtuous.
We are not wired to rationally prepare for small probability events, even when such events can be devastating on a world-wide scale. Contagion reminds us, visually and emotionally, that the most dangerous bird may be the black swan.
Planning sentences to ponder
Planning assistance caused municipalities to build 20% fewer housing units per decade over the 50 years that followed.
Here is the full abstract:
We study how the federal Urban Planning Assistance Program, which subsidized growing communities in the 1960s to hire urban planners to draft land-use plans, affected housing supply. Using newly digitized records merged with panel data across municipalities on housing and zoning outcomes, we exploit eligibility thresholds and capacity to approve funds across state agencies to identify effects. Planning assistance caused municipalities to build 20% fewer housing units per decade over the 50 years that followed. Regulatory innovation steered construction in assisted areas away from apartments and toward larger single-family homes. Textual evidence related to zoning and development politics further shows that, since the 1980s, assisted communities have disincentivized housing supply by passing on development costs to developers. These findings suggest that federal intervention in planning helped institutionalize practices that complicate community growth, with subsequent consequences for national housing affordability.
Hail Martin Anderson! The above paper is by Tom Cui and Beau Bressler, via Brad, and also Yonah Freemark.
The EU production function
The central puzzle of the EU is its extraordinary productivity. Grand coalitions, like the government recently formed in Germany, typically produce paralysis. The EU’s governing coalition is even grander, spanning the center-right EPP, the Socialists, the Liberals, and often the Greens, yet between 2019 and 2024, the EU passed around 13,000 acts, about seven per day. The U.S. Congress, over the same period, produced roughly 3,500 pieces of legislation and 2,000 resolutions.1
Not only is the coalition broad, but encompasses huge national and regional diversity. In Brussels, the Parliament has 705 members from roughly 200 national parties. The Council represents 27 sovereign governments with conflicting interests. A law faces a double hurdle, where a qualified majority of member states and of members of parliament must support it. The system should produce gridlock, more still than the paralysis commonly associated with the American federal government. Yet it works fast and produces a lot, both good and bad. The reason lies in the incentives: every actor in the system is rewarded for producing legislation, and not for exercising their vetoes…
Formally, the EU is a multi-actor system with many veto points (Commission, Parliament, Council, national governments, etc.), which should require broad agreement and hence slow decision making. In practice, consensus is manufactured in advance rather than reached through deliberation.
By the time any proposal comes up for an official vote, most alternatives have been eliminated behind closed doors. A small team of rapporteurs agrees among themselves; the committee endorses their bargain; the plenary, in turn, ratifies the committee deal; and the Council Presidency, pressed for time, accepts the compromise (with both Council and Parliament influenced along the way by the Commission’s mediation and drafting). Each actor can thus claim a victory and no one’s incentive is to apply the brakes.
That is from an excellent piece by Luis Garicano. What would Buchanan and Tullock say?
A Ukrainian mathematician requests mathematical assistance
…an expert in general relativity or a mathematical physicist familiar with PPN methods, weak-field gravitational tests, and variational principles…
For the two technical appendices (ψ-preconditioning and χ-flattening), I would need:
• a quantum algorithms researcher (QSP/QSVT/QLSA/QAE) to assess the correctness of the operator transformations and the potential complexity gains;
• a quantum control or pulse-level compilation engineer (pulse-level, virtual-Z) to evaluate whether the phase-drift compensation algorithm can be implemented realistically on actual hardware.
Please email me if you think you might be of assistance.
Saturday assorted links
What Tom Whitwell learned in 2025
52 things, here is one of them:
Most characters in the film Idiocracy wear Crocs because the film’s wardrobe director thought they were too horrible-looking to ever become popular. [Alex Kasprak]
Here is the full list.
Two things that really matter
When analyzing the macro situations of countries or regions, I place more stress than many people do on the following two factors:
1. Human capital: How much active, ambitious talent is there? And how high are the averages and medians?
2. Matching market demands: Are you geared up to produce what the market really wants, export markets or otherwise?
Those may sound trivial, but in relative terms they remain undervalued. They are, for instance, the biggest reasons why I do not buy “the housing theory of everything.”
They are also, in my view, the biggest reasons why the UK currently is in economic trouble. Both #1 (brain drain) and #2 have taken a hit in recent times. The UK continues to deindustrialize, business consulting is not the future, and London as a financial centre was hurt by 2008, Brexit, and superior innovations elsewhere. More and more smart Brits are leaving for the US or Dubai.
You also will notice that #1 and #2, when they are in trouble, are not always easily fixed. That is why reforms, while often a good idea, are by no means an easy or automatic way out of trouble.
These two factors also are consistent with the stylized fact that growth rates from the previous decade are not so predictive of growth rates for the next decades. Human capital often drives levels more than growth rates. And matching market demands often has to do with luck, or with shifting patterns of demand that the supplying country simply cannot match. Once people abandon Toyotas for Chinese electric cars, Japan does not have an easy pivot to make up the loss.
Most other theories of growth rates, for instance those that assign a predominant weight to institutions, predict much more serial correlation of growth rates than we find in the data. That said, institutions do indeed matter, and in addition to their usual effects they will shape both #1 and #2 over the longer run.
Overall, I believe conclusions would be less pat and economic understandings would be more effective if people paid greater attention to these factors #1 and #2. Not putting enough weight on #1 and #2 is one of the biggest mistakes I see smart people — and indeed very smart people — making.
Addendum: You will note the contributions of Fischer Black here. Apart from his contributions to options pricing theory, which are widely known, he remains one of the most underrated modern economists.
Classical music of 2025
These are the releases that I kept on listening to, in no particular order:
Aart Bergwerff, Bach, Six Trio Sonatas for Organ.
Jonathan Ferrucci, Bach Toccatas.
Tom Hicks, Chopin Nocturnes. So little rubato, this one took time getting used to but now I love it.
Linos-Ensemble, Schoenberg-Webern-Berg, The Waltz Arrangements. I am surprised I like this one at all, it brings together the two main strands of Viennese music at the time.
Yuja Wang, Shostakovich Piano Concerti and pieces from Op.87.
Cuarteto Casals, Shostakovich, complete String Quartets.
i am selecting these based on a) are they truly great and important pieces of classical music, and b) does this particular recording add something to the interpretations already out there?