Category: Weblogs

The third cohort of Emergent Ventures recipients

As always, note that the descriptions are mine and reflect my priorities, as the self-descriptions of the applicants may be broader or slightly different.  Here goes:

Jordan Schneider, for newsletter and podcast and writing work “explaining the rise of Chinese tech and its global ramifications.”

Michelle Rorich, for her work in economic development and Africa, to be furthered by a bike trip Cairo to Capetown.

Craig Palsson, Market Power, a new YouTube channel for economics.

Jeffrey C. Huber, to write a book on tech and economic progress from a Christian point of view.

Mayowa Osibodu, building AI programs to preserve endangered languages.

David Forscey, travel grant to look into issues and careers surrounding protection against election fraud.

Jennifer Doleac, Texas A&M, to develop an evidence-based law and economics, crime and punishment podcast.

Fergus McCullough, University of St. Andrews, travel grant to help build a career in law/history/politics/public affairs.

Justin Zheng, a high school student working on biometrics for cryptocurrency.

Matthew Teichman at the University of Chicago, for his work in philosophy podcasting.

Kyle Eschen, comedian and magician and entertainer, to work on an initiative for the concept of “steelmanning” arguments.

Here is the first cohort of winners, and here is the second cohort.  Here is the underlying philosophy behind Emergent Ventures.  Note by the way, if you received an award very recently, you have not been forgotten but rather will show up in the fourth cohort.

Library of Congress to archive Marginal Revolution

From my email:

The United States Library of Congress has selected your website for inclusion in the historic collection of Internet materials related to the Economics Blogs Web Archive. We consider your website to be an important part of this collection and the historical record.

The Library of Congress preserves important cultural artifacts and provides enduring access to them. The Library’s traditional functions, acquiring, cataloging, preserving and serving collection materials of historical importance to foster education and scholarship, extend to digital materials, including websites. Our web archives are important because they contribute to the historical record, capturing information that could otherwise be lost. With the growing role of the web as an influential medium, records of historic events could be considered incomplete without materials that were “born digital” and never printed on paper.

The following URL has been selected for archiving:

https://marginalrevolution.com/

We request your permission to collect your website and add it to the Library’s research collections. In order to properly archive this URL, and potentially other URLs of interest on your site, we would appreciate your permission to archive both this URL and other portions of your site, including public content that your page links to on third party sites such as Facebook, YouTube, etc. With your permission, the Library of Congress or its agent will engage in the collection of content from your website at regular intervals over time and may include it in future collections.

The Library will make this collection available to researchers at Library facilities and by special arrangement. The Library may also make the collection available more broadly by hosting the collection on the Library’s public access website no earlier than one year after our archiving has been completed. The Library hopes that you share its vision of preserving Internet materials and permitting researchers from across the world to access them.

MR sentences to ponder

Also, I finally had a chance to meet Tyler Cowen and tell him that his blog played a bit part in how I ended up dating my now-wife. Back when we were messaging on OKCupid (to clarify: my wife and I were messaging; I have not contacted Tyler Cowen on OKC), I wanted to establish my Internet-nerd bona fides, so I mentioned that I’d been linked by a prominent economics blog. She mentioned that she had been linked by a very prominent economics blog. It was Marginal Revolution, both times. (Her post: on taking oneself seriously. My post is lost to history, but I believe it was about the causes and consequences of onion futures being illegal.)

Since Cowen is an expert on many topics, it should come as no surprise that he’s an export on MR lore, so he informed me that at least one couple has gotten married on the site. One economic story you can tell about the last hundred or so years is that, as economies globalize, we compete head-to-head with more people, and need to define our domains ever more narrowly if we hope to be #1. Apparently “used Marginal Revolution to get married” was, in fact, far too broad a domain for me to have any hope of excelling.

That is from Byrne Hobart, with the essay mostly on his recent visit to Bloomberg and the Bloomberg AI panel.

My favorite things Ukraine

I am just arriving, and for the first time  Here are my favorites:

1. Pianist: Emil Gilels, most of all for Beethoven and Chopin.  Vladimir Horowitz was born in Kiev, he was often best in unusual pieces, such as Scriabin, Prokofiev, and John Philip Sousa.  But there is also Cherkassy, Pachmann, Moiseiwitsch, Lhevinne, and others.  Simon Barere was one of the greatest Liszt pianists.  So we are into A++ territory here.  But wait…Richter was born in Ukraine!  My head is exploding now.

1b. Violinists: You’ve got Nathan Milstein, Mischa Elman, Isaac Stern, Leonid Kogan, the Oistrakhs, among others, with Milstein’s Bach recordings as my favorite.

2. Composer: Prokofiev was born in eastern Ukraine (or is it now Russia again?), but somehow I don’t feel he counts.  Valentin Sylvestrov would be an alternative.

3. Novelist: One choice would be Nikolai Gogol, then Mikhail Bulgakov, born in Kiev but ethnically Russian.  But I can’t say I love Master and Margarita; it is probably much better and funnier in the original Russian.  His The White Guard is a more directly Ukrainian novel, and it should be better known.  A Country Doctor’s Notebook is perhaps my favorite by him.  For short stories there is Isaac Babel.  Joseph Conrad was born in modern-day Ukraine, though I don’t feel he counts as Ukrainian, same with Stanislaw Lem.  Vassily Grossman is a toss-up in terms of origin.  The Brazilian author Clarice Lispector, now very much in fashion, was born in Ukraine.

4. Movie: Alexander Dovzhenko’s Earth, a 1930 take on agricultural collectivization.  With Dovshenko as my favorite director.

5. Movie, set in: Man With a Movie Camera.  It is remarkable how fresh and innovative this 1929 silent film still is.

6. Painter: David Burliuk, leader of the Ukrainian avant-garde and later member of the Blue Rider group.  Ilya Repin was born in modern-day Ukraine, though he feels “Russian” to me in the historical sense.

7. Sculptor: Alexander Archipenko was born in Ukraine, though he ended up in America.

8. Economist: Ludwig von Mises.  He was born on territory near current-day Lviv, part of Ukraine.

9. Actress: Milla Jovovich is pretty good in The Fifth Element and Resident Evil.

10. Tech entrepreneur: Max Levchin.

11. Israeli: There is Golda Meir, Natan Sharansky, and Simon Wiesenthal, among others.

12. Legal scholar, blogger, and First Amendment advocate: Eugene Volokh.  And don’t forget Sasha!

Other: Wilhelm Reich deserves mention, though I’m not really a fan.  The region produced a few good chess players too.

Overall, this is a stunningly impressive list, though there are legitimate questions as to who and what exactly counts as Ukrainian.  They’re still trying to sort that one out, which is part of the problem.

The rate of gdp growth will soon decline again

Yes, comments will be reactivated, and some already are on the newly written posts.  All will be back on once we work through the backlog of posts written during the “comments off” period.  There is no conspiratorial explanation for the change and return, nor was anything measured either before or after.  I simply got sick of reading your comments and wanted a week or so off.  I had that break, plus I was traveling a good deal during that period and needed the extra time.  Welcome back, oh wise ones!

Will the European Union ruin the internet?

A committee of MEPs has voted to accept major changes to European copyright law, which experts say could change the nature of the internet.

They voted to approve the controversial Article 13, which critics warn could put an end to memes, remixes and other user-generated content.

Article 11, requiring online platforms to pay publishers a fee if they link to their news content, was also approved.

One organisation opposed to the changes called it a “dark day”.

The European Parliament’s Committee on Legal Affairs voted by 15 votes to 10 to adopt Article 13 and by 13 votes to 12 to adopt Article 11.

It will now go to the wider European Parliament to vote on in July.

…Article 11 has been called the “link tax” by opponents.

Here is further information.  If ever there was a case for Brexit…

For the pointer I thank Saku.

Which system should be redesigned from scratch?

Here is another question I didn’t get to answer from last night:

Your blog talks about making small marginal improvements, but if you could redesign one system entirely from scratch, which one would it be, and how would it look compared to what is currently in place?

One answer would be “blogging, I would have much more of it.”  But my main answer would be higher education, especially those tiers below the top elite universities.  Completion rates are astonishingly low, and also not very transparent (maybe about 40 percent?).  I would ensure that every single student receives a reasonable amount of one-on-one tutoring and/or mentoring in his or her first two years.  In return, along budgetary lines, I would sacrifice whatever else needs to go, in order to assure that end.  If we’re all standing around in robes, arguing philosophy under the proverbial painted porch, so be it.  At the same time, I would boost science funding at the top end.

I also would experiment with abolishing the idea of degree “completion” altogether.  Maybe you simply finish with an “assessment,” or rather you never quite finish at all, since you might return to take a class when you are 43.  Why cannot this space be more finely grained, especially in an age of information technology?

At lower ages, I would do everything possible to move away from having all of the children belong to the exact same age group.  The Boy Scouts are a better model here than “the 7th grade.”

The NBA is one institution that I feel is working really well at the moment. and I don’t just say that because I root for Golden State.  Though that doesn’t hurt any, either.

The new economics of Tanzanian blogging

Repressive regimes across the world have found inventive ways to stifle internet freedom, from deleting posts to blocking service. But Tanzania’s government has come up with a scheme that could prove even more draconian: it plans to charge hundreds of dollars a year for the privilege of blogging.

As part of new online regulations, bloggers will be required to pay hefty registration and annual licence fees that add up to roughly $920 — prohibitive for most in a country with a nominal per capita income of under $900.

In proportion to GDP, the Tanzanian registration and licence fee would be the equivalent of asking Americans to pay nearly $60,000 to start a blog.

That is from John Aglionby and David Pilling at the FT.

My Conversation with Patrick Collison

Patrick is co-founder and CEO of Stripe, based in San Francisco.  I recently told a reporter he was one of the five smartest people I have known; he is so smart, in fact, that he asked to interview me rather than vice versa, and so he and I created a new episode of Conversations with Tyler (transcript and podcast at that link, alas no video, and note that was recorded in January so on a few points the timeline may feel off).

We discuss whether macro is underrated, what makes Silicon Valley special, optimal immigration policy, whether Facebook is beneficial for society, whether I might ever vote for Donald Trump, how to start a new religion, Peter Thiel, Brian Eno, where I differ from Thomas Schelling, Michel Houllebecq, how to maintain your composure in an age of Trump, the origins of this blog, how I read so much, why Twitter is underrated, and the benefits of having a diverse monoculture, among many other topics.

Here is one bit:

COLLISON: …You’ve written a lot about how the study of economics has influenced your appreciation for the arts, and for literature, and for food, and all of the rest. You haven’t written as much about the influence in the reverse direction. How has your appreciation for and study of the arts influenced your study of economics? And is this a version of that?

COWEN: This is a version of that. Here would be a simple example: If you think about Renaissance Florence, at its peak, its population, arguably, was between 60,000 and 80,000 people. And there were surrounding areas; you could debate the number. But they had some really quite remarkable achievements that have stood the test of time and lasted, and today have very high market value. Now, in very naive theories of economics, that shouldn’t be possible. People in Renaissance Florence, they didn’t produce a refrigerator that we’re still using or a tech company that we still consult.

But there’s something different about, say, the visual arts, where that was possible, and it was done with small numbers. So there’s something about the inputs to some kinds of production we don’t understand. I would suggest if we’re trying to figure out, like what makes Silicon Valley work, actually, by studying how they did what they did in the Florentine Renaissance is highly important. You learn what are the missing inputs that make for other kinds of miracles.

Ireland and writing would be another example.

…COWEN: And I worry now that people in Ireland hear too much American English, too much English English, and that style of writing, talking, joking, limericks, is becoming somewhat less distinct. Still many wonderful writers from Ireland, but again, it’s like an optimal stock depletion problem, and maybe we’ve pressed on the button a little too hard.

COLLISON: The transaction costs should be higher?

And here is another:

COLLISON: Do we just need a sufficiently obfuscated version of the UBI and then we’re fine?

COWEN: We call it “disability insurance.”

And:

COWEN: Well, I voted on each of these hires. I voted for them. For a lot of them, I was on the hiring committee. Robin Hanson’s a good example. When we hired Robin, he was much older than a typical assistant professor would be. And of course, we don’t practice age discrimination, and neither does anyone else, but . . .

[laughter]

COWEN: Robin was going to have a tough time being hired. And I gave Robin some of my papers to read. He came in. He was a little, actually, obnoxious to me. Though he’s one of the nicest people you’d ever want to meet. He sent me back comments on my papers, that they were all wrong.

[laughter]

COWEN: There was no preliminary politeness: ‘I thought this was interesting, but…’ I thought this was great. So I thought, “We need to hire Robin. Robin is different.” And Robin wrote papers I thought were crazy, but he clearly also was a genius. I pushed very hard to hire Robin, and he made a good impression on a lot of other people. He’s been with us ever since.

COLLISON: Were the papers in fact all wrong?

COWEN: Robin’s criticisms were all good points.

[laughter]

COWEN: But they weren’t entirely wrong.

Self-recommending!