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.
The site may be down for a bit, or posts might not appear at the usual time, I am genuinely not sure. Or thing might just be totally normal. But apologies in advance for any service interruption.
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.
I will be doing a Conversation with him, no associated public event. As you read blogs, you might know Henry’s longstanding work over at CrookedTimber, and also his role in Monkey Cage. Henry is also professor of political science at George Washington University, has with Abraham L. Newman recently published a path-breaking book on the increasingly important concept of weaponized interdependence, is an expert on comparative labor relations, and is an all-around polymath, including on fiction, science fiction, and the politics of Ireland, his home country. Here is his home page.
So what should I ask Henry?
Here is an email from Daniel Stone at Bowdoin, I am not imposing a double-formatting on it for ease of reading and formatting:
“Dear Tyler (if I may),
I’m a big fan of your work in general, and MR in particular, and think that you do as good a job as anyone at exploring a variety of political perspectives, and sharing related (diverse) research.
Still, you’re human after all J. I’ve always been curious if there are systematic patterns in your writing or links you post.
It occurred to me a couple weeks ago that you sometimes describe research as speculative or imply this by adding a question mark to the end of the link (the example that made me notice this was: “Minimum wage effects and monopsony?”https://marginalrevolution.com/marginalrevolution/2019/07/thursday-assorted-links-215.html). At other times your link simply states the main research finding or directly quotes from the paper or its title.
So, while it might be hard to identify a general bias in your links – even if the majority were, say, “pro-liberal”, this wouldn’t necessarily mean *you* were biased, since the majority of good research out there could be pro-liberal, using the added “?”s provides an identification strategy: if you were more likely to add a ? for research that leans one political direction or the other, that would suggest a bias on your part.
As a fun side project, that I thought might also have some value given the importance of MR and understanding bias more generally, I had my RA (Maggie Hanson, cc’d) grab all your links from Assorted Links posts to social science research this year (as of a few days ago). Together we coded the ‘slant’ of each as L, R or N (neutral) – depending on whether the research supports regulation, indicates market failure, etc (admittedly our process here was not extremely scientific). She also recorded whether your link text is phrased as a question (or notes that the finding is speculative, which you did a couple times and seems similar). In addition, for link text phrased as a question, we also noted whether this text is a direct reference to the research paper’s title, as this means you didn’t actually add the “?”.
We did a bit of very basic analysis, here are results:
The distribution of slant across links is quite balanced, but leans left:
. tab sla
(L/N/R) | Freq. Percent Cum.
L | 35 29.17 29.17
N | 58 48.33 77.50
R | 27 22.50 100.00
Total | 120 100.00
But you were slightly more likely to phrase your link as a question for “L” links vs for Rs (9/35 for Ls vs 5/27 for Rs):
. tab slant endswith
Slant | Ends with ?
(L/N/R) | n y | Total
L | 26 9 | 35
N | 48 10 | 58
R | 22 5 | 27
Total | 96 24 | 120
And you were a bit more likely to do this for links that were not direct quotes of article titles that were questions (7/33 = 0.21 for Ls vs 2/24=0.083 for Rs):
tab slant endswith if linktex==”n”
Slant | Ends with ?
(L/N/R) | n y | Total
L | 26 7 | 33
N | 48 8 | 56
R | 22 2 | 24
Total | 96 17 | 113
But the magnitude of this difference is not large (and I bet not statistically significant), and the large majority of both L and R links were presented by you without questions marks.
Bottom line: you do present a quite balanced set of research findings, the general distribution leans left but it is hard to interpret this (without knowing the slants of research in general or the slant of research you post elsewhere, aside from Assorted Links). And there is suggestive evidence of a small tendency for you to be more questioning of research supportive of liberal/leftist policies.
Here’s a link to the data:
This includes a sheet with all the links that end in ?, that aren’t quotes of article titles, and their slants.
I wanted to share this with you before sharing with others. Please feel free to let me know any questions or comments!
Thanks, and thanks again for all your work. All the best – Dan”
Or so I hear, and Google doesn’t bring it up either, not even the shut down version.
I worry about deplatforming much less than many of you do. I remember the “good old days,” when even an anodyne blog such as Marginal Revolution, had it existed, had no platform whatsoever. All of a sudden millions of new niches were available, and many of us moved into those spaces.
In recent times, a number of the major tech companies have dumped some contributors, due to a mix of customer and employee protest. So we have gained say 99 instead of say 100, and of course I am personally happy to see many of the deplatformed sites go, or move to other carriers. Most of the deplatformed sites, of course, I am not familiar with at all, but that is endogenous. I would say don’t overreact to the endowment effect of having, for a while, felt one had literally everything. You never did. You still have way, way more than you did in the recent past.
You might be worried that, because of deplatforming, the remaining sites and writers and YouTube posters have to “walk the line” more than ideally would be the case. That to me is a genuine concern, but still let’s be comparative. Did you ever try to crack the New York publishing scene in the 1990s, or submit an Op-Ed to the New York Times before the internet was “a thing”? Now that was deplatforming, and most of it was due to the size of the slush pile rather than to evil intentions, though undoubtedly there was bias in both settings.
Another “deplatforming” came with the shift to mobile, which vastly favored some websites (e.g., Facebook) over many of the more idiosyncratic competitors, including many blogs (MR has done just fine, I should add).
Developments such as VR, AR, 5G — or whatever — will reshuffle the deck further yet. There will be big winners, many of which are not yet on the scene, and some considerable carnage on the downside. Maybe you won’t be forced off, but many of you will find it worthwhile to quit rather than adapt.
There still has never, ever been a better time to be a writer. What bugs people about deplatforming is the explicitness and potential unfairness of the decision. It’s like prom selection time, where there is no escaping the fact that the observed choices, at least once they get past the algorithms and are reviewed by the companies, reflect very conscious decisions to bestow and to take away. We have painful intuitions about such rank orderings…still, we are better served by the objective facts about today’s diversity and opportunity compared to that of the past.
I thank a loyal MR reader for the initial pointer.
José Luis Ricón, for blogging and to develop further platforms for information dissemination.
Arun Johnson, high school student in the Bay Area, to advance his work in physics, chemistry, nuclear fusion, and for general career development.
Thomas McCarthy, undergraduate at Dublin, Trinity College, travel grant to the Bay Area, and for his work on nuclear fusion and running start-up programs to cultivate young Irish entrepreneurs.
Natalya Naumenko, economist, incoming faculty at George Mason University, to study the long-term impact of nuclear explosions on health, and also more broadly to study the history of health in the Soviet Union and afterwards.
Paul Novosad, with Sam Asher, assistant professor at Dartmouth, to enable the construction of a scalable platform for the integration and dissemination of socioeconomic data in India, ideally to cover every town and village, toward the end of informing actionable improvements.
Alexey Guzey, travel grant to the Bay Area, for blogging and internet writing, plus for working on systems for improving scientific patronage.
Dylan DelliSanti, to teach an economics class to prisoners, and also to explore how that activity might be done on a larger scale.
Neil Deshmukh, high school student in Pennsylvania, for general career support and also his work with apps to help Indian farmers identify crop disease and to help the blind interpret images.
Here is my previous post on the third cohort of winners, with links to the first and second cohorts. Here is my post on the underlying philosophy behind Emergent Ventures. You can apply here.
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:
Michelle Rorich, for her work in economic development and Africa, to be furthered by a bike trip Cairo to Capetown.
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.
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.
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:
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.
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.
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.
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.
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!
For the time being, we have turned off comments on MR posts. Is not a higher gdp a good thing?
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.