Category: Books
Jamie Lawrence’s principles for judging books
He writes me an email:
We somehow ended up talking about things we absolutely judge by first impression. We both read a lot and widely in general, and it was a fun topic.
An easy one for me to note was that I skip technical/professional/academic work that is far enough outside of my expertise that I know the baseline knowledge assumptions are beyond me. Imperfect, but in general, a good filter.
I skip nearly all books by politicians, executives, and similar people. Even when people tell me that one is good, it usually isn't.
I really dislike reading music reviews. They almost never seem insightful, and rarely tell me anything I didn't realize I wanted to know.
Sort of the opposite of the above filters, I tend to really enjoy reading applied trade books for things far outside my expertise. An example is that about six months ago, I read a treatise on elevator traffic management that was fascinating.
What other principles can you think of? I go to Mary Riley Styles Falls Church Public Library and check the non-fiction Return carts, to see what other people have been reading.
*Reputation and Power*, a new theory of the FDA
The subtitle is Organizational Image and Pharmaceutical Regulation at the FDA and the author is Daniel Carpenter. Here is the book's home page but I don't yet see an Amazon listing. Here is a Barnes&Noble listing, note the price discount.
Where to start? It exhausts me to even write about this book, which is the most comprehensive and most detailed study of a regulatory agency written — ever – to the best of my knowledge. It supplements and overturns all existing work on its subject and it will prove a model for future investigations. It's not short!
The starting point is the notion of reputational capital and the claim that the FDA seeks to preserve and extend its reputation, for a variety of political reasons. One implication of this is that the FDA is sometimes too loose and other times too strict but that both biases are possible. The framework is then used to address numerous questions, including the following:
1. Why the U.S. has the most bureaucratically intensive drug regulation in the world.
2. Why the 1962 amendments were passed.
3. Why FDA regulation is so often treated as de facto irreversible.
4. Why the tenure of a division director matters for how the decisions of that division are treated.
5. Why there is so much judicial deference to the FDA.
6. Why the FDA has been so influential on a global scale.
7. How public attention affects the speed of FDA procedures.
The author makes a strong case that the FDA is one of the most powerful and most important regulatory agencies in the world and one of the most important extensions of state power. Everyone interested in the economics of regulation should read this book, just be prepared to be a little overwhelmed. I would also note that this is not mainly a partisan book in one direction or the other, though on net I read the author as wishing to see a stronger FDA. (On p.379, for instance, I read Carpenter as overly dismissive of the "drug lag" argument.)
Here is Carpenter's previous book, which I have not read. For the pointer to this work I thank Steve Teles.
Germany and Greece
…the Greek Finance Ministry had warned of "complete collapse" if the whole system…was not rethought…"Prices and value move in an atmosphere of imminent catastrophe," he wrote. "In Greece for a while now all the foundations of a healthy economy have been overturned. There can be no stability, neither in economic equilibrium nor in monetary or financial affairs."
…While the Italians…were genuinely worried by Greece's financial crisis, it was the Germans who needed to be persuaded. Initially, Altenburg's advocacy of the Greek position was not well received even in his own Ministry. But then the political stakes were suddenly raised…
…In Athens people expected the Finance Minister to win substantial concessions from the Germans. In actual fact he was in a very weak position.
…It was not that the Greek financial crisis could be ignored; nor that the Greek Finance Minister lacked the wit or intelligence to present his case. It was simply that no Greek politician carried enough weight to be heard seriously in Berlin.
That's from yesterday's Financial Times, no…whoops, sorry! That's from Mark Mazower's Inside Hitler's Greece: The Experience of Occupation, 1941-44. It's a good book.
“Three good books”
Tim Harford reports on his reading:
Tyler Cowen and Alex Tabarrok, Modern Principles of Economics (UK) – well-written, interesting, and some material not normally covered in econ. textbooks. I’ll try to find time to write more about this textbook, but guess students and professors will be the judges.
Ben Goldacre’s Bad Science. I’m a bit embarassed not to have read this until now, but the first few chapters are exceeded even my high expectations. Really very good indeed. Apparently a US edition is in the works – I’ve just been asked to blurb it. Will be a pleasure.
Jonah Lehrer’s The Decisive Moment (now republished as How We Decide). A nice science-and-stories approach to neuroscience, psychology and behavioural economics. I finished the book wanting to put it into action – not as easy as Lehrer makes out – and learned plenty I didn’t know I didn’t know.
All three are recommended.
Formaldehyde
Formaldehyde is a known irritant poison, capable of causing severe internal damage, and formic acid is equally destructive, best known to scientists as an essential part of the venom in bee stings. People poisoned by methyl alcohol would often seem to recover from that first bout of dizzy sickness, feel better while the alcohol was being metabolized, and then ten to thirty hours later by poisoned again by the breakdown products.
First, their vision would blur. The optic nerve and retina are acutely vulnerable to formic acid salts. The nerve, with its continual processing of images, runs in a high metabolic state, causing blood to circulate through it rapidly — which causes poison to be delivered there continuously. Autopsies often revealed a startling atrophy of the optic nerve area, the surrounding tissue swollen, bloody, and spongy. Methyl alcohol and its by-products caused similar damage in the parietal cortex, a region of the brain essential in processing vision. It concentrated as well in the hardworking lungs — the breakdown of pulmonary tissue was what usually killed people.
That is from the new and consistently interesting The Poisoners' Handbook: Murder and the Birth of Forensic Medicine in Jazz Age New York, by Deborah Blum. Although she has won a Pulitzer Prize, she remains an underrated author.
*A Textbook of Cultural Economics*
The author is Ruth Towse and you can buy it here. This excellent book now sets the standard for the field. Here is the home page of Ruth Towse.
*The Rational Optimist*, the new Matt Ridley book
The subtitle is How Prosperity Evolves and you can buy it here. The book is due out in May. Excerpt:
In this book I have tried to build on both Adam Smith and Charles Darwin: to interpret human society as the product of a long history of what the philosopher Dan Dennett calls "bubble-up" evolution through natural selection among cultural rather than genetic variations, and as an emergent order generated by an invisible hand of individual transactions, not the product of a top-down determinism. I have tried to show that, just as sex made biological evolution cumulative, so exchange made cultural evolution cumulative and intelligence collective, and that there is therefore an inexorable tide in the affairs of men discernible beneath the chaos of their actions. A flood tide, not an ebb tide.
This book will be adored by fans of Julian Simon. Ridley is an optimist about the year 2100 and one of the final sections considers whether Africa and climate change will be exceptions to the generally optimistic trends.
Charlie Brooker on eBooks
Anyway: eBooks. They're the future. The only thing I'd do to improve them is to include an emergency button that automatically sums the entire book up in a sentence if you couldn't be arsed to finish it, or if your plane starts crashing and you want to know whodunit before exploding over the sea. Ideally it'd shriek the summary aloud, bellowing something like "THE BUTLER DID IT" for potboilers, or maybe "THE SCULPTRESS COMES TO TERMS WITH THE DEATH OF HER FATHER" for highbrow fiction. Which means you could effectively skip the reading process entirely and audibly digest the entire contents of the British Library in less than a month. That's ink-and-paper dead, right there.
The article is here and hat tip goes to The Browser.
Joel Mokyr on living standards during the Industrial Revolution
One of the notable arithmetical truths about the period of the Industrial Revolution is that it is quite possible (if not certain) that biological living standards in both urban and rural areas rose and yet average living standards declined. This can happen if urban living conditions are significantly worse than rural ones, and the proportion of people living in cities is rising because of migration from the countryside to the towns. It seems likely that the biological measures of living standards were especially sensitive to urbanization. While urban areas may have offered some positive amenities (such as entertainment and more choice in shopping), healthy living conditions were surely not among them.
That is from Mokyr's new and notable The Enlightened Economy: An Economic History of Britain 1700-1850. The obvious question of course is why so many people moved into cities. Did "new goods" make the urban living standard higher than some measures might suggest? Was it to avoid boredom? To avoid "rural idiocy" and invest in future IQ externalities for children?
Here is my previous post on the book.
What are the most borrowed books from UK libraries?
Circa 2009, three out of the top four are by James Patterson. Eventually Ian Rankin and Ruth Rendell make the list. Dan Brown I believe too many people have bought or already read. None of the Booker Final Six from the previous year make the list.
Catherine Cookson used to dominate these metrics but she has been swamped by American popular authors and is down to number ten for the decade. Number one for the noughties is in fact Jacqueline Wilson. That's an odd status to hold: "worth reading, just not worth buying."
A broader point is that non-fiction does very poorly on the "most borrowed" list. I'll offer up the hypothesis that low-brow fiction is what most people actually want to read, whereas many people will buy but not read non-fiction, for purposes of affiliation with the author or the concepts associated with the book.
Overall borrowers are more conservative than buyers, in the literal sense of wanting to borrow the same authors over and over again, yet in different titles.
Hat tip goes to the always-excellent Literary Saloon.
Predators and multiple marginalization
Abraham Rosenwald likewise encountered a bewildering array of different groups in the forest after he escaped from Tartak [a concentration camp in Poland]. First, he encountered Bolek, who would not take his group of Jews since they had no weapons. A second partisan group robbed them of their few possessions. To live, "we went to the fields and gathered potatoes. The peasants ambushed us and beat us up." A third group of partisans murdered one of Abraham's companions, Israel Rosenberg, because they coveted his clothes. In one village they encountered a fourth group of partisans, whose commander would not let them join but nonetheless gave them some grenades for self-defense. Members of a fifth group of partisans robbed them once again, but this time the commander returned the stolen goods. A sixth partisan group agreed to take any Jews with prior military experience but subsequently murdered them. Abraham was finally allowed to joint a seventh group, from whom he received rifle training, but he became separated in escaping a German encirclement. An eighth group, led by "Piotor," allowed Jews to join but only to perform menial work, not fight. And the Jews were not allowed to stay with Piotor when he crossed over to the Russian lines. At this point, Abraham encountered Shlomo Einesman, who had left his hiding place. Einesman suggested the others return to that hiding place with him, since he had sufficient money. Instead, Abraham persisted in going east and this time made it across to the Soviets.
That is from Christopher R. Browning's new book Remembering Survival: Inside a Nazi Slave-Labor Camp.
In my pile
1. Sebastian Edwards, Left Behind: Latin America and the False Promise of Populism.
2. Matthew Bishop and Michael Green, The Road from Ruin: How to Revive Capitalism and Put America Back on Top.
3. Daniel R. Headrick, Power over Peoples: Technology, Environments, and Western Imperialism, 1400 to the Present.
4. David S. Landes, Joel Mokyr, and William J. Baumol, editors, The Invention of Enterprise: Entrepreneurship from Ancient Mesopotamia to Modern Times.
*The Cartoon Introduction to Economics*
It's now out and my review copy has arrived; the authors are Yoram Bauman and illustrator Grady Klein. It is the next step in economics education. You can buy it here.
Bauman is not just a good economist he is a very good economist, with an insightful philosophical bent and the natural inclinations of an educator, in the best sense of that term. His website is www.standupeconomist.com.
Here is Yoram (and others, including Paul Krugman) on PBS, discussing economics and humor.
*Cosmos*
The author is John North and the subtitle is An Illustrated History of Astronomy and Cosmology. Excerpt:
Other alternatives to Einstein's general theory of relativity were the theories of gravitation developed by G.D. Birkhoff, A.N. Whitehead, and J.L. Synge. All of them had cosmological implications. They were symptomatic of a period of great intellectual vitality. They were no doubt partly motivated by a desire to create something comparable with what Einstein had produced. Some ideas of a very different kind were then being put forth by Hermann Weyl, Eddington, and Dirac — the first two in 1930, and Dirac in 1937-38. They seemed to many to be suggesting that cosmological observation was superfluous, and that all could be deducted from the constants of physics. Eddington, for instance, thought that all the dimensionless constants (pure numbers) obtained by suitably multiplying and dividing powers of the constants of physics — the mass of a proton, the charge on an electron, and so forth — turn out to be close to unity, or of the order of 10 raised to the power 79. This vast number he thought might characterize the number of particles in the universe.
This is a truly splendid history of science book, especially if you are snowed in for a weekend. It has plenty of material on the early history of astronomy and on the one topic I know something about — the Aztecs — it seems very good to me and very accurate.
Revisiting the Marriage Supermarket
In comments to yesterday's post on the effects on dating style of a declining number of university men a number of people asked why a relatively small change in the sex ratio (m:w) from 50:50 to say 40:60 should make such a big difference. In the Logic of Life, Tim Harford gave a characteristically excellent explanation.
Imagine, says Tim, a marriage supermarket. In this supermarket any man and woman who pair up get $100 to split between them. Suppose 20 men and 20 women show up at the supermarket, it's pretty clear that all the men and women will pair up and split the $100 gain about equally, $50,$50. Now imagine that the sex ratio changes to 19 men and 20 women. Surprisingly, a tiny change in the ratio has a big effect on the outcome.
Imagine that 19 men and women have paired up splitting the gains $50:$50 but leaving one woman with neither a spouse nor any gain. Being rational this unmatched woman is unlikely to accede to being left with nothing and will instead muscle in on an existing pairing offering the man say a $60:$40 split. The man being rational will accept but this still leaves one women unpaired and she will now counter-offer $70:$30. And so it goes.
If you follow through on the logic it becomes clear that in the final equilibrium no married (paired) woman can be significantly better off than the unmarried woman (otherwise the unmarried woman would have an incentive to muscle in with a better deal) and so because the unmarried woman gets nothing the married women can't get much more nothing. Thus when the sex ratio is 20:20 the split is $50:$50 and when the sex ratio is 19:20 the split is more like to $99:$1 in favor of the men.
The key simplification of the marriage supermarket is that the next best option to marriage (pairing) is worth $0–thus there is a long way to fall from the equal sex ratio equilibrium of $50. If the outside option is worth more then changes in the sex ratio will have smaller effects. Nevertheless, the logic of the marriage supermarket explains why a relatively small change in the sex ratio can lead to a large change in sexual and other mores affecting the marriage equilibrium.
