Category: The Arts
I had an excellent time in this one, here is the audio and transcript. Here is the opening summary:
Abhijit joined Tyler to discuss his unique approach to economics, including thoughts on premature deindustrialization, the intrinsic weakness of any charter city, where the best classical Indian music is being made today, why he prefers making Indian sweets to French sweets, the influence of English intellectual life in India, the history behind Bengali leftism, the best Indian regional cuisine, why experimental economics is underrated, the reforms he’d make to traditional graduate economics training, how his mother’s passion inspires his research, how many consumer loyalty programs he’s joined, and more.
Yes there was plenty of economics, but I feel like excerpting this bit:
COWEN: Why does Kolkata have the best sweet shops in India?
BANERJEE: It’s a bit circular because, of course, I tend to believe Kolkata has —
COWEN: So do I, however, and I have no loyalty per se.
BANERJEE: I think largely because Kolkata actually also — which is less known — has absolutely amazing food. In general, the food is amazing. Relative to the rest of India, Kolkata had a very large middle class with a fair amount of surplus and who were willing to spend money on. I think there were caste and other reasons why restaurants didn’t flourish. It’s not an accident that a lot of Indian restaurants were born out of truck stops. These are called dhabas.
BANERJEE: Caste has a lot to do with it. But sweets are just too difficult to make at home, even though lots of people used to make some of them. And I think there was some line that was just permitted that you can have sweets made out of — in these specific places, made by these castes.
There’s all kinds of conversations about this in the early-to-mid 19th century on what you can eat out, what is eating out, what can you buy in a shop, et cetera. I think in the late 19th century you see that, basically, sweet shops actually provide not just sweets, but for travelers, you can actually eat a lunch there for 50 cents, even now, an excellent lunch. They’re some savories and a sweet — maybe for 40 rupees, you get all of that.
And it was actually the core mechanism for reconciling Brahminical cultures of different kinds with a certain amount of social mobility. People came from outside. They were working in Kolkata. Kolkata was a big city in India. All the immigrants came. What would they eat? I think a lot of these sweet shops were a place where you actually don’t just get sweets — you get savories as well. And savories are excellent.
In Kolkata, if you go out for the day, the safest place to eat is in a sweet shop. It’s always freshly made savories available. You eat the freshly made savories, and you get some sweets at the end.
COWEN: Are higher wage rates bad for the highest-quality sweets? Because rich countries don’t seem to have them.
BANERJEE: Oh no, rich countries have fabulous sweets. I mean, at France —
COWEN: Not like in Kolkata.
BANERJEE: France has fabulous sweets. I think the US is exceptional in the quality of the . . . let me say, the fact that you don’t get actually excellent sweets in most places —
And this on music:
BANERJEE: Well, I think Bengal was never the place for vocal. As a real, I would say a real addict of vocal Indian classical music, I would say Bengal is not, never the center of . . . If you look at the list of the top performers in vocal Indian classical music, no one really is a Bengali.
In instrumental, Bengal was always very strong. Right now, one of the best vocalists in India is a man who lives in Kolkata. His name is Rashid Khan. He’s absolutely fabulous in my view, maybe the best. On a good day, he’s the best that there is. He’s not a Bengali. He’s from Bihar, I think, and he comes and settles in Kolkata. I think a Hindi speaker by birth, other than a Bengali. So I don’t think Bengal ever had top vocalists.
It had top instrumentalists, and Ravi Shankar, Ali Akbar Khan, Nikhil Banerjee — these were all Bengali instrumentalists. Even now, I would say the best instrumentalists, a lot of them are either Bengali or a few of them are second . . . Vilayat Khan and Imrat Khan were the two great non-Bengali instrumentalists of that period, I would say, of the strings especially. And they both settled in Kolkata, so that their children grew up in Kolkata.
And the other great instrumentalists are these Kolkata-born. They went to the same high school as I did. There were these Kolkata-born, not of Bengali families, but from very much the same culture. So I think Kolkata still is the place which produces the best instrumentalists — sitarists, sarod players, et cetera.
COWEN: Why is the better vocal music so often from the South?
Definitely recommended, Abhijit was scintillating throughout.
Via Bloomberg, here is one bit:
Consider the 10 best-selling books of the decade. All have female protagonists, and the top seven are authored by women. (“Fifty Shades of Grey” and its sequels take the top three spots, with three others having the word “Girl” in the title.)
The feminization of our culture is for me trend number one. Next in line is screens:
They simply convey more interesting narratives than most of the other spaces in our lives.
There is much more at the link.
To many, Japan seems like a technological wonderland that’s at least a couple of decades ahead of the rest of the world when it comes to innovation. That even applies to something as seemingly mundane as office supplies, as is evident by this new see-through eraser that enhances precision by providing an unobstructed view of what’s actually being erased.
…And with a price tag of around $1.40 for a large version of the Clear Radar, and around 90 cents for a smaller one, Seed isn’t charging an inflated premium for this innovation, so why wouldn’t you upgrade?
Here is the full story, via Samuel Brenner.
Eric and his team describe it as follows:
In this episode, Eric sits down with Tyler Cowen to discuss how/why a Harvard educated chess prodigy would choose a commuter school to launch a stealth attack on the self-satisfied economic establishment, various forms of existential risk, tech/social stagnation and more. On first glance, Tyler Cowen is an unlikely candidate for America’s most influential economist. Since 2003, Cowen has grown his widely read and revered economics blog Marginal Revolutions with lively thought, insight and prose resulting in a successful war of attrition against traditional thinking. In fact, his well of heterodox thinking is so deep that there is an argument to be made that Tyler may be the living person with the most diverse set of original rigorous opinions to be found in any conversation. The conversation takes many turns and is thus hard to categorize. We hope you enjoy it.
I was bowled over by the boldness of the new conception and the quality of all the additional art out for view. The new MOMA, by mixing genres and periods and styles, comes close to abolishing the canon. Furthermore, they put out much more art by women and minorities and in the process they made it a much better and more compelling museum. It also refutes the notion that contemporary America is somehow artistically or aesthetically stagnant, keeping in mind that art museums reflect more generally the societies that house, fund, and curate them.
The big winners from the new makeover include Mark Bradford, Kara Walker, Haegue Yang, Yoko Ono, Jacques Tati, Romare Bearden, Annie Albers, Jesús Rafael Soto, Helio Oitcica, Wilfredo Lam, Gego, David Tudor, Cecilia Vicuña, Hector Hyppolyte, Duchamp (his influence more than any work out on display), and Picasso, whose best room still dominates the proceedings and comes across as more universal than before.
As a group I would say the Latin American mid- to late 20th century abstract and conceptual artists gain the most in status and impact.
The big losers are the Abstract Expressionists such as Kline, Rothko, Styll, Motherwell, and the like, as much of this work now looks overblown and also tired compared to what surrounds it. Some of the early twentieth century French art comes across as a bit lost, though not lacking in quality.
My biggest complaint is that Chinese contemporary art still is radically underrepresented.
The bottom line is that America’s best art museum ever just opened, and you probably still haven’t seen it.
It was quite something, the proceedings did not disappoint, here is the YouTube:
I can’t fully access video from this airport location, but I believe the actual debate starts at around 1:06. After the debate proper, a particular highlight is the four video questions that were taped and sent in from humanities academics.
The Holberg people put on a great event.
Self-recommending of course, most of all we talked about economic growth and development, and the history of liberty, with a bit on Turkey and Turkish culture (Turkish pizza!) as well. Here is the audio and transcript. Here is one excerpt, from the very opening:
COWEN: I have so many questions about economic growth. First, how much of the data on per capita income is explained just simply by one variable: distance from the equator? And how good a theory of the wealth of nations is that?
ACEMOGLU: I think it’s not a particularly good theory. If you look at the map of the world and color different countries according to their income per capita, you’ll see that a lot of low-income-per-capita countries are around the equator, and some of the richest countries are pretty far from the equator, in the temperate areas. So many people have jumped to conclusion that there must be a causal link.
But actually, I think geographic factors are not a great explanatory framework for understanding prosperity and poverty.
COWEN: But why does it have such a high R-squared? By one measure, the most antipodal 21 percent of the population produces 69 percent of the GDP, which is striking, right? Is that just an accident?
ACEMOGLU: Yeah, it’s a bit of an accident. Essentially, if you think of which are the countries around the equator that have such low income per capita, they are all former European colonies that have been colonized in a particular way.
COWEN: If we think about the USSR, which has terrible institutions for more than 70 years, an awful form of communism — it falls; there’s a bit of a collapse. Today, they seem to have a higher per capita income than you would expect a priori, if you, just as an economist, write about communism. Isn’t that mostly just because of what is now Russian, or Soviet, human capital?
ACEMOGLU: That’s an interesting question. I think the Russian story is complicated, and I think part of Russian income per capita today is because of natural resources. It’s always a problem for us to know exactly how natural resources should be handled because you can do a lot of things wrong and still get quite a lot of income per capita via natural resources.
COWEN: But if Russians come here, they almost immediately move into North American per capita income levels as immigrants, right? They’re not bringing any resources. They’re bringing their human capital. If people from Gabon come here, it takes them quite a while to get to the —
ACEMOGLU: No, absolutely, absolutely. There’s no doubt that Russians are bringing more human capital. If you look at the Russian educational system, especially during the Soviet time, there was a lot of emphasis on math and physics and some foundational areas.
And there’s a lot of selection among the Russians who come here…
The Conversation is Acemoglu throughout, you also get to hear me channeling Garett Jones. Again, here is Daron’s new book The Narrow Corridor: States, Societies, and the Fate of Liberty.
That is the topic of my latest Bloomberg column, here is one excerpt:
Or imagine how art markets might be affected by a wealth tax. Rather than keeping their art collections private, many more billionaires would donate that art to museums and other nonprofits. This appears to be a good outcome. But it would exacerbate one of the art world’s worst problems, which is inflated appraisals for tax purposes. At any rate, America’s museums do not have the space or resources to display and look after all of these paintings and sculptures; it is already common for a museum to display no more than 5% or 10% of its collection.
Essentially, a lot of art would be removed from circulation, stored in warehouses largely for tax reasons. Along the way, Christie’s and Sotheby’s might go bankrupt, as well as many art galleries, as the demand to buy art would plummet. You may think that the demise of a few galleries and auction houses is a small price to pay to reduce wealth inequality. But consider that artists, too, need to make a living…
The U.S. has created the most dynamic and effective nonprofit sector in the world. It rests on a delicate balance of private support and some indirect (not too much) government subsidy. America interferes with that balance at its peril.
There is much more at the link.
Here is the audio and transcript, the chat centered around music, including Ted’s new and fascinating book Music: A Subversive History. We talk about music and tech, the Beatles, which songs and performers we are embarrassed to like, whether jazz still can be cool, Ted’s family background, why restaurants are noisier, why the blues are disappearing, Elton John, which countries are underrated for their musics, whether anyone loves the opera, whether musical innovation is still possible, and much much more. Here are some excerpts:
GIOIA: …Spotify still isn’t profitable. I believe Spotify will become profitable, but they’re going to do it by putting the squeeze on people. Musicians will suffer even more, probably, in the future than they have in the past. What’s good for Spotify is not good for the whole music ecosystem.
Let me make one more point here. I think it’s very important. If you go back a few years ago, there was a value chain in music — started with the musician, worked for the record label. The records went to the record distributor. They went to the retailer, who sold the record to the consumer. At that point, everybody in that chain had a vested interest in a healthy music ecosystem in which people enjoyed songs. The more people enjoyed songs, the better business was for everybody.
That chain has been broken now. Apple would give away songs for free to sell devices. They don’t care about the viability of the music subeconomy. For them, it could be a loss leader. Google doesn’t care about music. They would give music away for free to sell ads. In fact, they do that on YouTube.
The fundamental change here is, you now have a distribution system for music in which some of the players do not have a vested interest in the broader musical experience and ecosystem. This is tremendously dangerous, and that’s the real reason why I fear the growth of streaming, is because the people involved in streaming don’t like music.
COWEN: Do you think music today is helping the sexual revolution or hurting it? Speaking of Prince…
GIOIA: It’s very interesting. There’s market research and focus groups about how people use music in their day-to-day life. Take, for example, this: you’re going to bring a date back to your apartment for a romantic dinner. So what do you worry about?
Well, the first thing I have to worry about is, my place is a mess. I’ve got to clean it up. That’s number one. The second thing you worry about is, what food am I going to fix? But number three on people’s list — when you interview them — is the music because they understand the music is going to seal the deal. If there’s going to be something really romantic, that music is essential.
People will agonize for hours over which music to play. I think that we miss this. People view music as distance from people’s everyday life. But in fact, people put music to work every day, and one of the premier ways they do it is in romance.
COWEN: Let’s say you were not married, and you’re 27 years old, and you’re having a date over. What music do you put on in 2019 under those conditions?
GIOIA: It’s got to always be Sinatra.
COWEN: Because that is sexier? It’s generally appealing? It’s not going to offend anyone? Why?
GIOIA: I must say up front, I am no expert on seduction, so you’re now getting me out of my main level of expertise. But I would think that if you were a seducer, you would want something that was romantic on the surface but very sexualized right below that, and no one was better at these multilayered interpretations of lyrics than Frank Sinatra.
I always call them the Derrida of pop singing because there was always the surface level and various levels that you could deconstruct. And if you are planning for that romantic date, hey, go for Frank.
There is much more at the link, interesting throughout, and again here is Ted’s new book.
An excellent episode, here is the audio and transcript. We ranged far and wide, starting with Huawei and weaponized interdependence, moving later to the Facebook supreme court, Karl Polanyi, Ireland, and Gene Wolfe and Philip K. Dick. Here is one excerpt:
COWEN: Arguably, dominant firms are easier to regulate. And since you seem to favor some kinds of additional regulation on the major tech companies, does this mean we’re too worried about monopoly, that we actually want to keep around a few dominant firms, and that if we split them up into many small parts, there would be more chaos or more fake news or more privacy violations?
If some parts of what they do are bad, and you get more competition in the bad, don’t we just want to put in GDPR barriers to entry, not quite public utilities, but keep them big and fat and happy and somewhat not so dynamic, yes or no?
FARRELL: It depends on what you value.
COWEN: But what you value.
FARRELL: Yeah. Let me put the tradeoff to you this way. If you value security, if the highlight is on security, then the answer is, you probably want to keep big companies around because you’re going to want to impose broad standards. You’re going to want to create collective security goods, and the only actors that can really do that in a substantial way are big businesses of one sort or another.
If, alternatively, you value things like privacy and other kinds of rights, then you probably want to move towards an equilibrium in which there are far, far fewer big firms. So that’s where I see the fight being played out. I see the fight being played out between people who value security and people who value privacy. I think they point in somewhat different directions.
COWEN: And where are you on that spectrum?
FARRELL: Well, it depends on the time of the day, and I find myself —
COWEN: It is 2:22 p.m.
FARRELL: Well, I guess the question for me is — and again, this is a wide open question because we simply don’t have enough good empirical research — but what is the relationship and the broader ecology between companies like 8chan and companies like Facebook? I suspect that companies like 8chan will be far, far less successful if there weren’t much bigger platforms like Facebook that they could effectively grow upon.
So here are the arguments, something as follows. If you think about 8chan, and if you think about 4chan before it, they were basically meme factories. They were basically these places where these bored individuals hung out. You also created these memes in a kind of process of frenzied Darwinian evolution, where you desperately want to make sure that whatever you had said was on the front page because otherwise it would disappear forever. So you’ve got this survival-of-the-fittest thing, where incredibly valuable or incredibly effective memes go out and begin to populate the entire space.
But you need two things for that to work. First of all, you need a process of generation, and secondly, you need some kind of process of dissemination. You need other platforms which have far greater reach, which can then allow for these memes to propagate through the atmosphere.
I suspect that if we were in a world in which everything was at the scale of 8chan, rather than having a mixture of companies at the scale of 8chan and companies at the scale of Facebook, that the likelihood of this stuff spreading and becoming epidemic across the entire community of internet users would be far, far less. Obviously, we would have other problems then. But I think that the problems that we would face would be a very, very different set of problems from the problems that we face in the current environment.
FARRELL: Yes. [Gene] Wolfe misleads us systematically, and clearly Severian is not a reliable narrator, but then neither is Proust’s narrator either. I think that if you really want to understand where Wolfe comes from, it really is Proust. His writing style is Proustian. His concern with time, with how it is that time works, is quintessentially Proustian.
And you don’t look to Wolfe any more than you look to other science fiction for characterization. I don’t think that’s the particular strength. What you do look for is a kind of a sense of the world. And in Wolfe, in particular, he provides this real understanding of how it is that the workings of society, and interestingly, conservative understanding of the workings of society.
I think of him almost as being Proust in reverse. Proust is describing a world in which the modern world is overtaking aristocracy. And that clearly is one of the great problems of Proust, what is happening on the social level. You have all of these aristocratic understandings: the Merovingian, all of these histories, all of these castles, all of this wonderful art, and they are being replaced by the modern world with its telephones, with its electric lighting, and so on.
And how do you think about this? How would you try to preserve what was happening in the past? What Wolfe does, which I think is an extraordinarily interesting thing, which would be impossible for anybody who is not a science fiction writer, is to take that and to reverse this and to imagine a world in which modernity has disappeared.
From Emergent Order the studio who brought you Keynes v. Hayek (and round two) comes Marx v. Mises. All hail to anyone who can rap, “Now here comes the bomb via Von Bohm-Bawerk.” I was also pleased to see Marginal Revolution makes an appearance as does the socialist calculation debate. Useful background notes here.
Q: And you had to sit in the hall in elementary school?
A: So little was known about those conditions back in those days, and I think it was just seen as I was distracting everyone in the class with my silliness. I couldn’t stay in my chair and keep my mouth shut. So the teachers from second to fifth grade just put me in the hall. It ended up being kind of a blessing for me, too, because it gave me time to draw and to create stories and comics. I guess I made lemonade out of it…
Q: You must hear from young readers who tell you about their own difficulties and why your books help them.
A: I do. That’s actually one of the reasons I love to go out on the road and tour so much. Sometimes they’re proud in a way. There will be kids who will have posters they hold up that say that they’ve “got dyslexia like Dav,” or they’ll tell me proudly that they have ADHD. I don’t call it Attention Deficit Hyperactivity Disorder. I call it Attention Deficit Hyperactivity Delightfulness. I want kids to know that there’s nothing wrong with you. You just think differently, and that’s a good thing. It’s good to think differently. This world needs people who think differently; it’s your superpower.
I will be doing a Conversation with Ted, no associated public event. He is a musician and most of all a music historian, above all for jazz and blues, with numerous excellent books on those topics.
Gioia was raised in a Sicilian-Mexican household in Hawthorne, California, a working class neighborhood in the South-Central area of Los Angeles. Gioia was valedictorian and a National Merit Scholar at Hawthorne High School, and attended Stanford University. There he received a degree in English (graduating with honors and distinction), served as editor of Stanford’s literary magazine, Sequoia, and wrote regularly for the Stanford Daily. He was a member of Stanford’s College Bowl team, which was featured on television, and defeated Yale in the national finals. Gioia also worked extensively as a jazz pianist during this period, and designed and taught a class on jazz at Stanford while still an undergraduate.
After graduation, Gioia received a degree in Philosophy, Politics and Economics at Oxford University, where he graduated with first class honors. He then received an MBA from Stanford University.
Gioia has enjoyed successes in the worlds of music, writing and business. In the business world, Gioia has consulted to Fortune 500
companies while working for McKinsey and the Boston Consulting Group. He helped Sola International complete an LBO and IPO on the New York Stock Exchange in the 1990s. He has undertaken business projects in 25 countries on five continents, and has managed large businesses (up to $200 million in revenues). While working amidst the venture capital community on Sand Hill Road in Silicon Valley, Gioia stood out from the crowd as the “guy with the piano in his office.”
His knowledge of varied musical genres is virtually without parallel. So what should I ask Ted?
That is the new biography by Benjamin Moser, along with Ingmar Bergman bios you can call this topic my soap opera equivalent. Here are a few scattered bits:
“I’m only interested in people engaged in a project of self-transformation,” Susan wrote in 1971…she read about the University of Chicago, “which didn’t have a football team, where all people did was study, and where they talked about Plato and Aristotle and Aquinas day and night. I thought, that’s for me.”
The connection between sex and pain was so natural for her — “All relationships are essentially masochistic,” she told Burch — that she could never imagine the loving partnership of equals that Freud had posited. Her “profoundest experience,” of her mother’s giving and then withdrawing her love, was perpetually renewed. Harriet dribbled out her affection by the scant thimbleful, which Susan gratefully slurped down: “I suppose, with my sore heart + unused body, it doesn’t take much to make me happy.” A couple of weeks later, she described the “total collapse” of their relationship and “blindly walking through a forest of pain.”
Brodsky, after all, was the friend she dreamed of…the teacher she hoped to find in Philip Rieff; the companion she had sought all her life, an intellectual and artistic equal, and even a superior. She never found another friend as congenial, and it was in these terms that she mourned his premature death, at fifty-five. I’m all alone,” she told a friend. There’s nobody with whom I can share my ideas, my thoughts.”
Recommended, for those who care.