The podcast is here. And from Wiblin’s email:
…I spoke with Professor Yew-Kwang Ng, a 75 year old Chinese-Australian economist in Singapore who was impressively ahead of his time and I would never have expected to exist. He:
- Was an active columnist in Chinese newspapers in favour of Deng Xiaoping’s economic reforms in the 80s.
- Was perhaps the first to write an analytical paper on wild animal welfare/suffering, in 1995!
- Wrote about the great importance of investing to prevent human extinction in 1991, well before this became a mainstream view. He also tried to tackle resulting infinitarian paralysis before this issue was widely appreciated.
- Is an advocate of direct brain stimulation, as a drug-alternative which humans don’t abuse or develop tolerance to.
- Advocated over 50 years for utilitarianism, philosophical hedonism and cardinality in welfare economics and made major theoretical contributions to welfare economics.
- Developed a theoretical basis for interpersonal utility comparisons.
- Since forever has been promoting the correct reading of Harsanyi’s Social Aggregation Theorem rather than Rawls’ bastardisation of it.
- Was a communist revolutionary in colonial Malaysia, but then studied economics and deconverted.
- Figured out about half of what’s distinctive about ‘effective altruist’ thinking, totally independently and on his own well before most people got to the questions.
- Was the first to introduce non-perfect competition in macroeconomics by combining microeconomics, macroeconomics, and general equilibrium analysis into ‘mesoeconomics’, showing that Keynesianism and Monetarism are special cases.”
It made me sad that he isn’t more widely appreciated already, even by people building on his work today, so I made a guide to his most pioneering or influential publications to go along with the episode.
It would be great if you could post on MR and Twitter! :)”
Here is one bit from what is an excellent story with good material in every paragraph:
Mr. Teles makes sure to emphasize that his sympathy with the conservative legal movement here grows out of not his policy preferences, which lean left, but his belief in the importance of a “powerfully structured” constitutional system. “I don’t think the purpose of the Constitution is to get a government so small you can drown in a bathtub,” he says. Rather, it is to ensure the government “is democratically responsible.”
Mr. Teles believes that one of the most salient projects for the newly conservative Roberts Court will be to roll back administrative-state prerogatives. That could revitalize Congress and restore the constitutional structure, vindicating two longtime goals of the conservative legal movement. But he thinks this could also end up serving certain policy ends of progressives.
For the past several decades, Mr. Teles says, many progressive victories in the economic realm have been achieved through “administrative jujitsu”—difficult-to-understand maneuvers involving taxes, fees, mandates, regulations, and administrative directives. If courts start to block technocratic liberal plans for social reform because they violate the separation of powers, the left may find it easier to mobilize for pure redistribution as an alternative. Think of postal banking instead of CFPB regulation, or a carbon tax instead of the Obama administration’s Clean Power Plan, or a reduction in the Medicare eligibility age instead of ObamaCare subsidies and exchanges.
That might be good for democratic discourse, Mr. Teles suggests. “In some ways liberalism has been deformed” by relying on administrative agencies, “as opposed to making big arguments for big, encompassing social programs.” In the short term, though, conservative courts will probably prove “radicalizing for the left.” Democrats may fully jettison Clintonism and say: “We’re going straight for socialism.” Steeply redistributive programs enacted by legislatures would be “easier to defend in court,” even a conservative court, than unaccountable bureaucratic diktats.
Obviously his talents in crypto and programming are well-known, but he is also a first-rate thinker on both economics and what you broadly might call sociology. You could take away the crypto contributions altogether, and he still would be one of the very smartest people I have met. Here is the audio and transcript. The CWT team summarized it as follows:
Tyler sat down with Vitalik to discuss the many things he’s thinking about and working on, including the nascent field of cryptoeconomics, the best analogy for understanding the blockchain, his desire for more social science fiction, why belief in progress is our most useful delusion, best places to visit in time and space, how he picks up languages, why centralization’s not all bad, the best ways to value crypto assets, whether P = NP, and much more.
Here is one excerpt:
COWEN: If you could go back into the distant past for a year, a time and place of your choosing, you have the linguistic skills and immunity against disease to the extent you need it, maybe some money in your pocket, where would you pick to satisfy your own curiosity?
BUTERIN: Where would I pick? To do what? To spend a year there, or . . . ?
COWEN: Spend a year as a “tourist.” You could pick ancient Athens or preconquest Mexico or medieval Russia. It’s a kind of social science fiction, right?
BUTERIN: Yeah, totally. Let’s see. Possibly first year of World War II — obviously, one of those areas that’s close to it but still reasonably safe from it…
Basically, experience more of what human behavior and what collective human behavior would look like once you pushed humans further into extremes, and people aren’t as comfortable as they are today.
I started the whole dialogue with this:
I went back and I reread all of the papers on your home page. I found it quite striking that there were two very important economics results, one based on menu costs associated with the name of Greg Mankiw. Another is a paper on the indeterminacy of monetary equilibrium associated with Fischer Black.
These are famous papers. On your own, you appear to rediscover these results without knowing about the papers at all. So how would you describe how you teach yourself economics?
Highly recommended, whether or not you understand blockchain. Oh, and there is this:
COWEN: If you had to explain blockchain to a very smart person from 40 years ago, who knew computers but had no idea of crypto, what would be the best short explanation you could give them, basically, for what you do?
BUTERIN: Sure. One of the analogies I keep going back to is this idea of a “world computer.” The idea, basically, is that a blockchain, as a whole, functions like a computer. It has a hard drive, and on that hard drive, it stores what all the accounts are.
It stores what the code of all the smart contracts is, what the memory of all these smart contracts is. It accepts incoming instructions — and these incoming instructions are signed transactions sent by a bunch of different users — and processes them according to a set of rules.
That is my latest Bloomberg column, here is one bit:
Cleveland described the statue as “keeping watch and ward before the gates of America.” This is not exactly warm rhetoric — the plaque with Emma Lazarus’s poem welcoming the “huddled masses” to America was not added until 1903 — and although Cleveland supported free trade, he opposed Chinese immigrants, as he regarded them as unable to assimilate. The statue was never about fully open borders.
We Americans tend to think of the statue as reflecting the glories of our national ideals, but that’s not necessarily the case. In her forthcoming “Sentinel: The Unlikely Origins of the Statue of Liberty,” Francesca Lidia Viano points out that you might take the torch and aggressive stance of the statue as a warning to people to go back home, or as a declaration that the U.S. itself needs more light. Her valuable book (on which I am relying for much of the history in this column) also notes that the statue represented an expected “spiritual initiation to liberty” before crossing the border, and was seen as such at the time. The ancient Egyptians, Assyrians and Babylonians all regarded border crossing as an important ritual act, associated with “great spiritual changes.” The Statue of Liberty promoted a transformational and indeed partially mystical interpretation of assimilation.
There are other interpretations of the statue’s purported message based on the details of its design. You plausibly can read the statue as a Masonic icon, a homage to the family coat of arms of Bartholdi the sculptor, a hearkening back to the Seven Wonders of the Ancient World, a celebration of Orientalism, Orpheus and Samothracian civilization, and as a monument to the dead of the Revolutionary War. The statue also contained design clues celebrating the now-French city of Colmar (home base for Bartholdi), and threatening revenge against the Germans for taking Colmar in 1871 from the Franco-Prussian war.
And that does not even get us to the main argument. In the meantime, I would stress what a wonderful and splendid book is Francesca Lidia Viano’s Sentinel: The Unlikely Origins of the Statue of Liberty. It is entirely gripping, and one of the must-read non-fiction books of this year.
Stripe partners with hundreds of thousands of the world’s most innovative businesses—organizations that will shape the world of tomorrow. These businesses are the result of many different inputs. Perhaps the most important ingredient is “ideas.”
Stripe Press highlights ideas that we think can be broadly useful. Some books contain entirely new material, some are collections of existing work reimagined, and others are republications of previous works that have remained relevant over time or have renewed relevance today.
It is difficult to express just how good these Gulag short stories are. I would very literally second the blurb by David Bezmozgis:
“As a record of the Gulag and human nature laid bare, Varlam Shalamov is the equal of Solzhenitsyn and Nadezhda Mandelstam, while the artistry of his stories recalls Chekhov. This is literature of the first rank, to be read as much for pleasure as a caution against the perils of totalitarianism.”
That is not blurb inflation. Note that the book is long (734 pp. of stories), and the reading is slow, mostly because the narratives lack redundant information, not because they are clumsy or awkwardly written. It also takes perhaps a few stories to get into the swing of things and figure out how the fictional yet not fictional universe works here. But the content is entirely gripping, and full of social science. You can buy it here. A second volume from this translator will appear in 2019, completing the series.
Have you ever wondered how the contemporary world would react if a masterpiece were dropped into its midst? If your guess was “with a fair amount of indifference unless it was Elena Ferrante and even then it wouldn’t really change anything except give rise to probably what will be a mediocre television series”…well, you were right. For Shalamov, I don’t yet see an Amazon review.
Due to the asymmetry of fame I feel that I know you quite well so I am just going to bombard you with random questions and hope that you see fit to answer some of them.
You seem to value journalism very highly. Is it just out of necessity as a generalist, or does popular writing on a topic have important information that can’t be learned from the academic/scholarly side?
Journalists have to try to explain things that actually happened to other human beings, often educated ones but not specialists either. It is hard to overrate the importance of that process to developing one’s thoughts and self, no matter what you may think of particular journalists in today’s MSM.
Related: Which elite profession or slice of society is most opaque to journalists and “book-learning” in general? (Oddly some of the categories that come to mind are those which are some of the most written-about – food, sex, friends, law, politics. But it’s probably maths.)
Making things. Archaeology. These days, tech. Maths. Journalism.
How much less interesting would it be to read Shakespeare if no-one else ever had? Does the answer differ much across top-tier “great” artists?
It would not be less interesting at all, maybe more interesting, because the shock of discovery would be all the greater. Admittedly, many artists require lots of discussion with other people, maybe rock and roll most of all? But not Shakespeare.
Overrated vs underrated: The New Yorker. How about Samin Nosrat?
The New Yorker has had a consistent voice and remarkable brand for more decades than I can remember (I recall Patrick Collison making a similar point, perhaps in a podcast?). Since I am now above the median age for the United States, that makes them underrated. The literariness of the historical New York and Northeast and the integration of American and European culture also have become underrated topic areas, and The New Yorker still does them, so that too makes the magazine underrated.
And who is Samin Nosrat? She must therefore be underrated.
Does the world have too many writers, or not enough? What about comparative literature professors? How should we think about the future of literary culture when the written word is becoming so much more culturally dominant at the same time as books and journalism are falling apart?
What variable are we changing at the margin? If people watch less TV and write more, that is probably a plus. I also would favor fewer photographs and more writing. But I wouldn’t cut back on charity to increase the quantity of writing. If only comparative literature professors were people who simply loved books — at the margin a bit more like used book store owners and somewhat less like professors — and would compare them to each other…then I would want more of them. Until then, I don’t know how to keep the extra ones busy.
Why does the USA not have open borders with Canada?
I believe America should have open borders with any nation that has a more generous welfare state than we do. That covers Canada, even though Canadian insurance coverage for mental health and dentistry isn’t nearly as good as you might think. As to why we don’t have open borders with Canada, I don’t think American voters would see that as solving any concrete problem (can’t we get many of the best Canadians anyway?), and it would feel a bit like giving up control, so why do it?
To what extent are Trump, Brexit, Orban, Erdogan, rising murder rates and stalling trade growth worldwide part of the same phenomenon? If they aren’t completely separate, which way does the contagion run?
Yes, no, and maybe so, get back to me in a few years’ time.
Have a great day…
Imagine that people could read each other’s minds, at least once they knew each other and focused on each other’s presence in a common physical space. They can’t do this perfectly or with full transparency, but still they have a much better idea what the other person is thinking and feeling than what they receive today from external signals. They can even “feel” those thoughts from the other at some times, leading to potential embarrassment, both.in positive and negative ways of course. Still, some noise remains, so you are never sure just how intentional, explicit, or sincere a “sampled thought” might be.
Solve for the equilibrium:
1. Many people would develop thicker skins, as they would learn what others really thought of them. They also would tolerate more evil thoughts from others, though at the margin most people still would try to look better rather than worse.
2. A large minority of people, for instance potential child molesters, could not go out in public very much.
3. Sometimes we would meet people and, before initiating a friendship, decide to “get everything out of the way.” Think all the bad (and good?) thoughts up front, and acknowledge this mutually. Make it clear that this is your standard practice with all your friends. Then, if the person later on catches you having a particular thought, you can just say, or intuit, back to them: “Of course I am thinking of stealing a dollar from you. I thought that on the very first day we met, right after wishing you didn’t get that big raise. You’re simply sampling residual memories from all the intentional sins we committed together when initiating our friendship. We did that so subsequent negative signals aren’t really new signals at all.”
And it’s not just thoughts: people preemptively might do everything they are afraid others might discover they are thinking. Get it out of the way. Restore that pooling equilibrium, as they say. Make sure everyone has every thought, using action if need be.
4. A boss hiring a new worker may try to prevent the worker from going through this “mind clearing” process early on. The worker may try to do it. And trying to engage in “mind clearing” with your boss may not be such a negative signal if everyone has unacceptable thoughts of some kind or another. We’re just trying to get back to an equilibrium where those thoughts don’t matter so much. Is that so terrible?
5. You might keep special friends, with whom you don’t act out or think through all the possible suspicions in advance. In essence they would be “surprise friends.” We would call them surprise friends because you would sample their thoughts in real time and with some degree of surprise. Those sampled thoughts actually would contain significant new information about what the person was thinking about you. Having a surprise friend might be considered a sign of courage.
6. Alternatively, people might simply prefer dopey friends, namely those with weak telepathic abilities.
7. Other people will form vice groups, somewhat akin to current gangs.
8. Note that if you can interpret the bad thoughts of others in a truly Bayesian manner (“well, that may sound horrible, but most of the other people are thinking something much worse…”), it is harder for other people to engage in the signal-jamming equilibrium of transmitting all bad thoughts in advance. You would take their signal-jamming as a very negative signal of what their true thoughts are like, and thus the better people would refrain from signal-jamming. At the margin, thoughts would become relevant again, including bad thoughts.
Is there thus a positive or negative social value to an individual turning more Bayesian in this setting, and thus discouraging the signal-jamming in advance?
Here are the first four:
1. The extreme fragility of human culture, civilization. A man becomes a beast in three weeks, given heavy labor, cold, hunger, and beatings.
2. The main means for depraving the soul is the cold. Presumably in Central Asian camps people held out longer, for it was warmer there.
3. I realized that friendship, comradeship, would never arise in really difficult, life-threatening conditions. Friendship arises in difficult but bearable conditions (in the hospital, but not at the pit face).
4. I realized that the feeling a man preserves longest is anger. There is only enough flesh on a hungry man for anger: everything else leaves him indifferent.
Juan is sometimes considered the world’s greatest hitchhiker, and this was one of my favorite installments in the series. We talked about “the joys of connecting with people, why it’s so hard to avoid stereotypes (including of hitchhikers), how stamp collecting guides his trips, the darkest secrets of people he’s gotten rides from, traveling and writing books with his wife, the cause of violence in the Americas, finding the emotional heart of a journey, where he’s going next…” and which country has the most beautiful women (and men). And why Colombia and Transnistria are two of his favorite places to visit.
Here is the transcript and audio.
Here is one excerpt:
VILLARINO: As a rule of thumb, I always like to say that you stop cars with your smile and not with your thumb. There are actually a lot of things you could do to improve your chances of getting a lift.
It’s not like go there, stick out your thumb, and get a ride. Definitely, smiling as a car is passing — it’s a really important thing. Then there are very subtle things that people wouldn’t guess that have an impact, and they do…
For example, a driver has on average three seconds to decide whether he’s going to stop or not. He sees you, he’s driving maybe 80 miles an hour, and you suddenly pop out. There are a lot of things going on unconsciously through his mind to decide whether he’s going to stop or not. You have only these seconds to convey any message of trust, and so you have to do things.
For example, one is smiling. The other one is, when you manage to get eye contact, then I reinforce. Let’s say, I’m showing my thumb, but I also switch my hand signal and point it to the direction in which I’m going as I’m smiling. This makes a more personalized link over the general link you are already doing, which is thumbing.
Then the way you are dressed, the way your backpack is positioned . . .
VILLARINO: Oh, yeah. Scandinavia.
COWEN: Those countries have plenty of cars. Why are they so slow?
VILLARINO: That’s amazing. To be hitchhiking in Scandinavia, you see all this row of Volvo cars passing you by [laughs] and they will never ever stop.
I had talked to a Swedish friend of mine, and she just said, “Yeah, I wouldn’t stop either,” she said, “because it’s so cheap and affordable to have a car. Then if someone is hitchhiking and doesn’t have a car, you would think he has second intentions or something wrong is going on here.”
COWEN: Would you describe yourself as a workaholic hitchhiker?
VILLARINO: Yes. [laughs] I am. People would be so surprised to see how much time there is involved on the backstage behind the screen because you hitchhike, you have books, and you have a blog. The blog is so time consuming.
Juan had the very best answer I thought as to why the New World is more violent than the Old World, overall. It starts with this:
VILLARINO: Probably because in our evolution as territories, we have had violence as a part of it much more recently in the timeline. We were conquered by means of powder. I think that’s probably in the genetic of our culture. I hope not.
Strongly recommended, and I hope to read and see more of Juan in the future.
I will be doing a Conversation with Tyler with him, no associated public event. Here is his home page, and the About section. Here is Wikipedia on Pollan. Here is a Sean Iling Vox interview with Pollan, on his recent work on LSD and other psychedelics, and his most recent book is How to Change Your Mind: What the New Science of Psychedelics Teaches Us About Consciousness, Dying, Addiction, Depression, and Transcendence. Pollan is perhaps best known for his books on food, cooking, and food supply chains.
So what should I ask him?
By nature, a society that forgives and rehabilitates its people is a society that forgives and transforms itself. That takes a radical kind of love, a secret of which is given in the Lord’s Prayer: Forgive us our trespasses, as we forgive those who trespass against us.
And let us not forget the guiding principle of “the least among us” found in Matthew: that we are compelled to care for the hungry, thirsty, homeless, naked, sick and, yes—the imprisoned.
For the pointer I thank Nick C.
I’ve already put this Scott Aaronson paper in Assorted Links, but here are two passages I liked in particular:
…finding a fixed point might require Nature to solve an astronomically-hard computational problem! To illustrate, consider a science-fiction scenario wherein you go back in time and dictate Shakespeare’s plays to him. Shakespeare thanks you for saving him the effort, publishes verbatim the plays that you dictated, and centuries later the plays come down to you, whereupon you go back in time and dictate them to Shakespeare, etc. Notice that, in contrast to the grandfather paradox, here there is no logical contradiction: the story as we told it is entirely consistent. But most people find the story “paradoxical” anyway. After all, somehow Hamlet gets written, without anyone ever doing the work of writing it! As Deutsch perceptively observed, if there is a “paradox” here, then it is not one of logic but of computational complexity…
Now, some people have asked how such a claim could possibly be consistent with modern physics. For didn’t Einstein teach us that space and time are merely two aspects of the same structure? One immediate answer is that, even within relativity theory, space and time are not interchangeable: space has a positive signature whereas time has a negative signature. In complexity theory, the difference between space and time manifests itself in the straightforward fact that you can reuse the same memory cells over and over, but you can’t reuse the same moments of time.
Yet, as trivial as that observation sounds, it leads to an interesting thought. Suppose that the laws of physics let us travel backwards in time. In such a case, it’s natural to imagine that time would become a “reusable resource” just like space is—and that, as a result, arbitrary PSPACE computations would fall within our grasp. But is that just an idle speculation, or can we rigorously justify it?
It is in general quite an interesting paper.
I will be doing a Conversation with her (no associated public event), if you don’t already know here is Wikipedia on Claire:
Claire Lehmann is an Australian psychologist, writer, and the founding editor of Quillette.
Lehmann founded Quillette in October 2015, with the goal of publishing intellectually rigorous material that makes arguments or presents data not in keeping with the contemporary intellectual consensus.
So what should I ask her?
1. The family of development economist Hollis Chenery owned the race horse Secretariat (!, related sources).
2. The opposition to putting the Reagan Library at Hoover and Stanford came from NIMBY considerations, not ideology.
3. The historian of Germany Gordon Craig was the greatest lecturer Arrow ever heard [TC: I can’t find any of him on YouTube.]
4. Arrow: “Well, I do remember an awful lot, and it’s not photographic memory. I don’t remember the page exactly. I read things in some order, and they come back, but I can’t explain how or why it happens.
…I think it’s just a desire to understand. I just enjoy learning things. Learning. I don’t mean…I like to systematize, not just memorize. To put them together. I have this characteristic, even when I was young. I treat everything like it was geography; in my mind I’d try to put the things on a map. When I was reading history I’d try to make up genealogical tables, of the kings of England or something. So I had this tendency to try to systematize things, to try and understand remote sounding things.”
5. His advice for Larry Summers [his nephew]: “Err on the side of too much regulation.”
6. Arrow once spent six months on the Council of Economic Advisors. His two major effects may have been to veto an American version of the SST and to help veto the digging of a second Panama Canal.
Those are all from the frank interviews with Arrow in On Ethics and Economics: Conversations with Kenneth J. Arrow, by Arrow of course and also by Kristen Renwick Monroe and Nicholas Monroe Lampros. Interesting throughout.