Category: Uncategorized
My Conversation with Lex Fridman
2 hours 9 minutes long, Lex is one of the very best interviewers/discussants in the sector. Here is the video, here is the audio. Plenty of new topics and avenues, including the political economy of Russia (note this was recorded before the massing of Russian forces on the Ukraine border). Lex’s tweet described it as follows:
Here’s my conversation with @tylercowen about economic growth, resisting conformity, the value of being weird, competition and capitalism, UFO sightings, contemporary art, best food in the world, and of course, love, death, and meaning.
https://www.youtube.com/watch?v=7Grseeycor4
Recommended.
Saturday assorted links
2. People systematically overlook subtractive changes. And a Patrick Collison comment: “An obvious point that took me way too long to appreciate: in software engineering, you should probably optimize for speed even when you don’t have to, because it’s one of the easiest/best ways to prioritize subtraction and parsimony in the solution space.”
3. Against alcohol.
4. Ezra Klein interviews Brian Deese about the economic thinking of the Biden Administration (with transcript). A good instantiation of “where they are at.”
5. Various observations on the Biden corporate tax plan.
6. ‘Sense of Disappointment’ on the Left as the N.Y.C. Mayor’s Race Unfolds.” (NYT) Again, I’m going to double down on my earlier claim that the progressive Left has peaked (which is not to claim that statism has peaked, it hasn’t). This is NYC people!
7. Fact and fiction about Ethiopia’s ethnofederalism? The content is hardly controversial to most readers I suspect, or even deeply committal on main issues, but the author chose anonymity nonetheless, which is itself a meta-comment on the piece’s own topic.
8. Map of all the physics particles and forces, highly useful, good explication, I don’t find any of this stuff intuitive. “Strangely, there are no right-handed W bosons in nature.” What is wrong with you people!? Why can’t it all be windowless monads? Or is it?
New York City estimate of the day
In only a year, the market value of office towers in Manhattan, home to the country’s two largest central business districts, has plummeted 25 percent, according to city projections released on Wednesday, contributing to an estimated $1 billion drop-off in property tax revenue.
JPMorgan Chase, Ford Motor, Salesforce, Target and more are giving up expensive office space, and others are considering doing so. Jamie Dimon, chief executive of JPMorgan Chase, the largest private-sector employer in New York City, wrote in a letter to shareholders this week that remote work would “significantly reduce our need for real estate.” For every 100 employees, he said, his bank “may need seats for only 60 on average.”
Here is more from The New York Times. And this is with vaccination proceeding apace, and recovery well within sight. It is going to be a very different New York City.
Friday assorted links
What I’ve been reading
1. Susan Bernofsky, Clairvoyant of the Small: The Life of Robert Walser. I believe you need to have read Walser first, but if so this is a far better biography than what you might have expected the English-speaking world to have produced. It is also an implicit portrait of where pre-WWI Europe went wrong, the history of micro-writing, and a paean to general weirdness, noting that Walser in both his life and writing is inexplicable to this day.
2. Andy Grundberg, How Photography Became Contemporary Art. How does a whole genre rise from also-ran status to a major (the major?) form of contemporary art? This is an excellent history with nice color plates and it is also a causal account. I liked this sentence, among others: “Surprisingly, the acceptance of color photography had happened earlier in the art world than in the so-called art photography world.” Polaroid had a significant role as well.
3. Colin Bryar and Bill Carr, Working Backwards: Insights, Stories, and Secrets from Amazon. A truly good and very substantive management book (I hear your jaw hitting the floor). Just that statement makes it one of the best management books ever. Really.
4. Tom Jones, George Berkeley: A Philosophical Life. A thorough biography of an 18th century Irish philosopher who is still worth reading. Berkeley also wrote on monetary theory and pioneered the idea of an abstract unit of account.
5. Ryan Bourne, Economics in One Virus: An Introduction to Economic Reasoning through Covid-19. This book came out yesterday, I read it earlier, and here is my blurb: “A truly excellent book that explains where our pandemic response went wrong, and how we can understand those failings using the tools of economics.” It is published by Cato, a libertarian think tank, and it is a much better and more integrated and science-based account than what you might find from other groups, whether libertarian or non-libertarian.
How should you feel if you attentively finish Benjamin Storey and Jenna Silber Storey, Why We Are Restless: On the Modern Quest for Contentment?
Cameron Blevis, Paper Trails: The US Post and the Making of the American West, is a good book and on a more important topic than you might think.
Additional Thursday assorted links
1. Will Greenland let China mine there?
2. How regulators are starting to think about Coinbase. And interpreting bitcoin as a better chain letter.
3. Neopronouns: “but what does thon think?” And today’s Ezra Marcus NYT piece on neopronouns is first-rate. Can I use “Tyler” as my neopronoun? Can I choose to be pronounless?: “Instead of using third person pronouns, a nullpronominal person is usually referred to by name, or can be referred to with an epithet, or the sentence can be rephrased to omit pronouns, typically by using the passive voice.” I like that, should I put it on my Twitter profile?
4. Ezra Klein (NYT) has a very good take on the Biden administration, though I would frame the described truths in a quite negative manner. I would say that in essence they are making decisions based on their own sociology and class and conformism, and also on the basis of what they think (poorly informed) voters want, rather than focusing on scientific reasoning and trying to see that through. And whatever problems economics might have, including as a predictive tool, one does not do better with those who are trying to take its place. Further interpretation from Ezra here.
5. Bryan Caplan turns fifty, and what did he do in his forties?
6. More on muons. Best treatment so far.
Vaccine passport sentences to ponder
From New York State:
Using Excelsior Pass is entirely voluntary, but it requires learning about the state’s system and mastering a few different websites and apps. It took me 20 minutes over Zoom to help an octogenarian set up his pass, though it was certainly simpler than mastering vaccine-appointment websites. And even when we thought we understood the system, Excelsior Pass didn’t always work: My tech-reporter colleague tried to use it to enter Yankee Stadium, but the system didn’t update with his clearance until after the game was over…
Testing Excelsior Pass, what surprised me most was how easy it is to fake. When you first sign up for your QR code on the state website, it asks a handful of questions based on your vaccination and testing records. But after that, you’re on the honor system — you can add the QR code to any phone without any more challenge questions.
Designed by IBM, here is the full story. I get that different parts of the country (Michigan…surge vaccine supply!) may need to proceed at different speeds, but basically it is time to plan a full reopening, and it seems that vaccine passports are more likely to hinder than to help achieve that end.
Thursday assorted links
1. Douthat on Crichton (who was really good, by the way).
3. Caleb Watney on solving the global vaccine shortage.
4. Why don’t lower income countries adopt more advanced technologies?
5. The next Bryan Caplan book is a pro-YIMBY graphic novel.
6. Aidan and Tristan Caplan on Mormons and Mexicans. Ungated here.
7. New results in particle physics? (NYT) And some science coverage of the same.
8. Pandemic reverses southern Italian brain drain (FT), and NYT.
9. New Mars city to be built into a cliff? (What about Nevada he cries again?)
From the comments, on Covid and our response
Wednesday assorted links
1. “The most terrifying words in the English language are Balaji was right.” Transcript of his now-famed podcast with Tim Ferriss.
2. Physical formidability and acceptance of police violence.
3. The Martians of Budapest. And Girard, McLuhan, and Robbins on Interintellect.
4. A contrarian view on voting in Georgia.
5. Don Boudreaux upset at me. I think on some issues he misrepresents my views (e.g., I don’t claim the age of the Covid deaths is irrelevant), and he pins a whole host of interventions on me that I do not favor. But to respond to the main point on social cohesion, I’ll make a simple prediction: in terms of social cohesion the American southeast will come out of this whole mess looking relatively good, on both a national and global scale. Countries such as Brazil and Mexico, which have downplayed Covid risks to an extreme degree, and imposed very few regulations on behavior, will come out looking quite bad in terms of both deaths and social cohesion. I prefer the response of the U.S. southeast to that of Brazil and Mexico, and the response of the U.S. southeast is (broadly) the one I endorse in the podcast with Russ Roberts (assuming you can’t halt the whole thing early, and no we never should have banned any outdoor activities, etc.). Don is otherwise a big proponent of comparative institutional analysis, but he isn’t doing nearly enough of that in his critique — social cohesion compared to what? Which is the alternative that was going to give us greater social cohesion than what say Florida will end up with?
6. “Lego enthusiast explains why the black market for the toy bricks is so lucrative.” Interesting throughout.
My Conversation with the excellent Dana Gioia
Here is the audio, transcript, and video. As I mention in the beginning, Dana is the (only?) CWT guest who can answer all of my questions. Here is part of the summary:
Dana and Tyler discuss his latest book and more, including how he transformed several businesses as a corporate executive, why going to business school made him a better poet, the only two obscene topics left in American poetry, why narrative is necessary for coping with life’s hardships, how Virgil influenced Catholic traditions, what Augustus understood about the cultural power of art, the reasons most libretti are so bad, the optimism of the Beach Boys, the best art museum you’ve never heard of, the Jungianism of Star Trek, his favorite Tolstoy work, depictions of Catholicism in American pop culture, what he finds fascinating about Houellebecq, why we stopped building cathedrals, how he was able to effectively lead the National Endowment for the Arts, the aesthetic differences between him and his brother Ted, his advice for young people who want to cultivate their minds, and what he wants to learn next.
And here is one excerpt:
COWEN: Why is Olaf Stapledon an important writer?
GIOIA: It’s not a question I expected.
COWEN: How could you not expect that?
GIOIA: Well, first of all, I hope people know who Olaf Stapleton was. Tremendously influential, rather clumsy, visionary, early science fiction writer who wrote novels like Odd John and the First and Last Man. What Olaf Stapleton did was I think he was the first really great science fiction writer to think in absolutely cosmic terms, beyond human conceptions of time and space. That, essentially, created the mature science fiction sensibility. If you go even watch a show like Expanse now, it’s about Stapledonian concerns.
COWEN: He was also a Hegelian philosopher, as you know. My friend Dan Wang thinks Last and First Men is better than Star Maker. Though virtually all critics prefer Star Maker.
GIOIA: Michael Lind, the political writer, and historian, Stapledon is one of his formative writers. Star Maker is kind of an evolution of the Last and First Men. Odd John is kind of the odd, the first great mutant novel.
Definitely recommended. And I am very happy to recommend Dana’s latest book (and indeed all of his books) Studying with Miss Bishop: Memoirs from a Young Writer’s Life.
Some of the Covid-era deregulations will stick
Lawmakers in Texas and at least 19 other states that let bars and restaurants sell to-go cocktails during the pandemic are moving to make those allowances permanent. Many states that made it easier for healthcare providers to work across state lines are considering bills to indefinitely ease interstate licensing rules. Lawmakers in Washington are pushing for Medicare to extend its policy of reimbursing for certain telehealth visits. States also are trying to lock in pandemic rules that spawned new online services, from document notarization to marijuana sales.
Deregulation has long been a central tenet among Republican politicians, but many of the coronavirus-inspired changes have gained bipartisan support…
In February, California State Sen. Scott Wiener, a San Francisco Democrat, co-authored legislation with a Republican lawmaker to make permanent the coronavirus-era suspension of liquor laws that prohibited drinking in sidewalk extensions known as parklets and other outdoor dining spaces used by multiple vendors. If approved by two-thirds of the legislature and signed by the Democratic governor, it would take effect in September.
State legislatures in Connecticut and Arkansas also are weighing bills to extend outdoor dining allowances made during the pandemic.
Mr. Wiener said he has spent years studying ways to modernize the state’s liquor laws, some of which are 100 years old.
Here is much more from Aaron Zitner and Julie Bykowicz at the WSJ. For the pointer I thank Greg Roemer.
When will China move against Taiwan?
That is the topic of my latest cheery Bloomberg column, here is one excerpt:
It’s not as if all of a sudden one morning the news will be filled with reports of bombs falling on Taipei. China has other options: It might occupy the islands of Quemoy and Matsu, just off the coast of China but claimed by Taiwan. Imagine China taking the islands, possibly with zero casualties, and then calling both Taipei and Washington to discuss what should happen next. Taiwan would have to think long and hard.
It would hardly be new for China to target Quemoy and Matsu. In 1958 Taiwan defended those islands with U.S. support after a Chinese incursion. An uneasy stalemate followed. There was also a crisis in 1954-55, again with inconclusive results. A possible confrontation today, in view of growing Chinese military and economic power, requires a fundamentally different calculus.
And this:
The most common argument against imminent Chinese action is that “time is on China’s side.” The size of China’s economy relative to America’s is likely to rise over time, along with China’s relative military prowess.
But China’s GDP as a share of global GDP may already be near a peak, depending on how well the rest of the world does. China has also to worry about the rise of India, the continuing rearming of Japan and a possibly recalcitrant Southeast Asia. Meanwhile, the Communist Party itself may face increasing fractures and lose some of its grip on power. If China is going to take significant action against Taiwan, now may be the easiest time to do so.
The evolution of military technologies would also seem to argue for Chinese action sooner rather than later. Even a very powerful China might find Taiwan difficult to conquer in 20 years. At the current moment, Taiwan’s defense capabilities seem especially run down.
Momentum is another reason why China might decide to act soon. China recently changed the status of Hong Kong, and has taken increasingly concrete steps to tighten its grip on Xinjiang, in both cases facing an international opposition that is modest and manageable.
Once countries start down such an aggressive road it is sometimes difficult for them to stop. Both the Chinese military and the organizational infrastructure of the Communist Party are currently geared toward “solutions,” activism, and the notion of bringing everyone into the fold. China is used to receiving foreign criticism, and its leaders seem to be consolidating their power. Because of its success in halting the spread of the pandemic, the party currently enjoys a status that it might find hard to regain.
Is it possible for the party to put the brakes on this process and restart it 20 years later? Maybe — but again, the view that China is prepared for imminent action on Taiwan is a plausible one.
Developing…
Tuesday assorted links
2. “The money itself is programmable. Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump-start.” (WSJ)
3. Soviet LOTR “markets” in everything.
4. Have they ruined Plastic Ono Band? (WSJ, probably)
5. NYT obituary for Robert Mundell.
6. The decline of the Central American elites (The Economist).
From the Kibbutz to Libertarianism
Meir Kohn on his long path to becoming a libertarian. As a teenager he moved to Israel to live on a kibbutz.
Kibbutz is bottom‐up socialism on the scale of a small community. It thereby avoids the worst problems of state socialism: a planned economy and totalitarianism. The kibbutz, as a unit, is part of a market economy, and membership is voluntary: you can leave at any time. This is “socialism with a human face” — as good as it gets.
Being a member of a kibbutz taught me two important facts about socialism. The first is that material equality does not bring happiness. The differences in our material circumstances were indeed minimal. Apartments, for example, if not identical, were very similar. Nonetheless, a member assigned to an apartment that was a little smaller or a little older than someone else’s would be highly resentful. Partly, this was because a person’s ability to discern differences grows as the differences become smaller. But largely it was because what we received was assigned rather than earned. It turns out that how you get stuff matters no less than what you get.
The second thing I learned from my experience of socialism was that incentives matter. On a kibbutz, there is no material incentive for effort and not much incentive of any kind. There are two kinds of people who have no problem with this: deadbeats and saints. When a group joined a kibbutz, the deadbeats and saints tended to stay while the others eventually left. I left.
In retrospect, I should have known right away, from my first day, that something was wrong with utopia. On my arrival, I was struck by the fact that the pantry of the communal kitchen was locked.
Read the whole thing.
Addendum: Ilya Somin has interesting comments especially on kibbutz versus the lesser known moshavim.
That is from James N. Markels, responding to Don Boudreaux in these comments.
Here is another way to put the broader argument, not my preferred first-order response, but I think significant nonetheless. Given the way government and public choice work, anything that kills over half a million Americans is going to be a big deal for policy, whether we like it or not (Don should be the first to recognize that government will restrict your liberties for far less than 500k deaths!). You want the best feasible version of a response, as there isn’t really a stable libertarian response pattern out there. Trying partial but non-sustainable libertarian approaches will in the end get you more and more statism as the virus keeps on defeating you, deaths rise, and calls for ever-greater state action increase. A lot of what libertarians don’t like about lockdowns in part stems from the “do nothing” response of the first two months of notice that we Americans had when Covid first appeared in China.