Dengue vaccine seems to be working?

I have been telling people that most major maladies will be fixable over the course of the next few decades…

Religion and the ideological gender gap

Friday assorted links

1. “Europe regulates its way to last place” (WSJ).

2. “Throughout the twentieth century…graduate-educated women married poorer spouses than college-educated women.”  With smaller family sizes, this no longer seems to be true.

3. “The Poem/1 clock dreams up a new poem every minute to tell you the time.”

4. Vanity Fair on Apple Vision Pro.

5. On Eurasianism.

6. Northern Virginia is set to boom.

Claude of Anthropic does *GOAT*

Here is the new book bot, trained on Claude of course.  Again, I call this a “generative book.”

Very powerful, and I am indebted to those who helped, including at Anthropic and also Jeff Holmes of Mercatus.

Here is the original web site and the original GPT-4 bot, which still is great.  The full title is GOAT: Who is the Greatest Economist of all Time, and Why Should We Care?  An audiobook will be coming, can you guess who is reading it?

Why it is difficult for Milei to rein in inflation

Like the heat in the austral summer, inflation in Argentina is high and showing no sign of meaningful relief anytime soon. It rose from a monthly 13% in November to 25% in December and, according to the latest central bank survey, may come in at around 20% in both January and February…

Argentina’s central bank in December lowered real interest rates to deeply negative territory, hoping to reduce the issuance of pesos to pay for those interests—a move that pushes consumers to spend or dollarize their savings, adding to inflation and to the exchange rate premium. In addition, the early lifting of price controls, including administered prices such as health insurance or gas, frontloaded the relative price correction at the expense of inflation.

All this, combined with the lack of a price reference—the central bank is still working on its monetary program—may have led to a so-called “repricing overshooting.”

And:

Moreover, if inflation persists, the December devaluation may soon look insufficient, feeding expectations of a new realignment that, in turn, would give inflation inertia a new push—ultimately leading to a stop-and-go exchange rate pattern that sacrifices the only remaining nominal anchor of the economy.

Add to that that a large portion of the fiscal plan has just been withdrawn from the Omnibus Bill currently under heated debate in Congress, and we are left with only one bullet to bring monthly inflation back to single digits in the near term: a severe—and politically fraught—economic recession.

That is all by Eduardo Levy Yeyati, there is much more and the piece is useful throughout.

Thursday assorted links

1. “The Spanish judge investigating Russian interference in the Catalonian independence process has extended the probe for another six months after receiving an anonymous letter containing an article that identifies the Russian who offered Catalonian separatists US$500 billion and a small army if they break away from Madrid.”  Link here.

2. “We’ve streamlined our recruiting process for new officers. It now takes a quarter of the time it took two years ago to move from application to final offer and security clearance. These improvements have contributed to a surge of interest in the CIA.”  Link here.

3. “Interestingly, we also find that same-sex couples default significantly more (53.9%) than similar different-sex couples, which suggests an unobserved characteristic that causes same-sex couples to default more, and could explain a part of observed disparities in mortgage approval, undermining results in previous research.”  Link here.

4. Those new service sector jobs: helping people plan their Disney trips.

5. A resource guide to understand the ARPA model, from Institute for Progress.

6. Smoke Sauna Sisterhood is a good Estonian movie, original too.

Matriline versus Patriline: Social Mobility in England, 1754-2023

Greg Clark may well be the most important social scientist of the 21st century. His use of historical data informed by evolutionary theory and genetics is a unique contribution to social science with important and challenging results.

Clark’s latest paper (with Neil Cummins) makes a simple but striking point. If the primary systematic determinant of social outcomes is genetic then we expect the father and the mother to contribute equally (each giving half their genes). If, on the other hand, the primary determinant is social then we expect widely different mother-father contributions in different societies and at different times and for different characteristics. Fathers ought to matter more in patriarchies, for example, and mothers more in matriarchies and gender-egalitarian societies. Similarly, if social factors are determinative, we would surely see a rising contribution of mothers to child outcomes as the social power of women rises (you can’t use your mother’s contacts in the legal profession to get a job, for example, if your mother was never a lawyer.) Similarly, if social factors are determinative we would expect mothers to be more important perhaps for characteristics determined early and fathers for characteristics determined late.

As Clark and Cummins write:

Social institutions and conventions would suggest that social status will often be more strongly transmitted between generations on either the patriline or the matriline. The factors favoring stronger transmission on the matriline are the much greater involvement in all societies of mothers in the care and education of children. The greater time investment of mothers in childcare is found in all societies, even those such as in contemporary Nordic countries where gender equality is the most advanced. Thus we would on the human capital interpretation of social outcomes expect a greater maternal than paternal connection in the modern world. However, a countervailing force in earlier times was the greater access of fathers to resources, and professional contacts. Also since in earlier years only fathers had occupations and educational qualifications, the father could be much more of a model for the outcomes of sons. It is thus uncertain whether the paternal or maternal line would better predict social outcomes in any earlier society. But we would expect the paternal effect to be greater in high status groups, and the maternal effect greater in average or lower class families.

What we find with the FOE data, however, is that in 27 out of 31 child outcomes (other than wealth) examined across marriages in the years 1754-1995, the patriline and matriline had a predictive ability for child outcomes that was not statistically distinguishable at the 5% level. In the four cases where the coefficients differed significantly, in three the maternal effect was greater, and in one the paternal effect. Thus for most social outcomes – literacy, age at beginning work, age at leaving schooling, higher education, and occupational status – mother and fathers appear always to contribute roughly equally. The one clear exception is wealth, where always patriline wealth is a much stronger predictor of child wealth than is matriline wealth.

…The results suggest, however, that the mechanism of transmission is largely independent of parental time interacting with children. The results reported above are thus consistent with the finding of Clark (2023) that the pattern of inheritance of most social outcomes in England 1600-2022 was consistent with direct additive genetic transmission. Such transmission would imply a symmetry of mother and father predictive effects.

What would Anthony Downs say?

You need your harvard ‘key’ account to vote. If you need help getting access to your harvard key account we have been given the following feedback:

1. Visit https://key.harvard.edu/ and click the link “Claim Your HarvardKey.” 2. On the “Select User Type” page, click on the tab that reads “Alumni.” Then click “Continue.” 3. Enter your HAA ID in the first field. Your HAA ID is: <000000000>  4. In the second field, enter your last name. 5. In the third field, enter your degree year. Click “Continue.” 6. This will cause a confirmation email to be sent to the primary email address Harvard has on file for you. We updated your primary email address and you must wait 24 hours to claim your HarvardKey account. 7. Click the link in the email sent to your primary address and enter the 8-character confirmation code.  Click “Continue.” 8. In the Login Name field, enter your primary email address to use as your username. Your username does not link to your email, only your recovery addresses are linked to your account. Click “Continue.” 9. Enter at least one recovery email. This will be used should you misplace your password or Login ID. Please do not use an alumni email forwarding address as a recovery email. You should use a real email address with an email inbox as your recovery address. You can use the same email you used for your username as your recovery address. Click “Continue”. 10. Enter and confirm your new password.  Click “Submit” to complete the process. 11. If you still have trouble registering or need more detailed instructions, please see our registration help page at http://alumni.harvard.edu/help/site-access/registration. HUIT’s Support Desk staff is available to answer your questions seven days a week. Please call 617-495-7777 or email [email protected]. The Support Desk schedule is: Monday through Friday, 7:30 a.m. – 8:00 p.m. Saturday, 10:00 a.m. – 6:00 p.m. Sunday, 12:00 p.m. – 5:00 p.m.

Not a joke, here is the website, which “helps” you to change the Harvard Board of Overseers.  Whether or not you have voted (it is now closed), I hope you all adjust your donations accordingly.

And I wonder what the majority of Board members at Harvard think should be the voting requirements for presidential elections.  No ID required, right?  That would keep some people away from the process, right?

Addendum: Read this 2022 essay, voter suppression Harvard style.

If econs could hoop — The New Bazaar

That is my podcast with Cardiff Garcia, now on-line and with transcript too.  Cardiff proposed a novel approach:

Who is the Magic Johnson of economics? Who was the Adam Smith of basketball?

On this fun and oddball episode of The New Bazaar, Cardiff speaks with Tyler Cowen, economist and author of GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?

Inspired by the sportswriter Bill Simmons, Tyler wrote his book from the standpoint of a fan—having fun, taking sides, admitting biases, unapologetically trying to entertain the reader instead of presenting sober (boring) analysis.

Cardiff and Tyler—both huge basketball fans—first discuss Tyler’s ranking of the great economists and his lament for what economics used to be. Tyler also gives his reasons for releasing the book as a ChatGPT trained on its text, the first such book of its kind.

Then begins the fun. They take turns finding analogs for the great economists from the history of the NBA. And they do the same in reverse for basketball’s own GOATs. Which economist changed the nature of the field similar to the way Steph Curry set off the three-point revolution? Is there an economist whose comprehensive genius rivaled the ability of LeBron James to engineer exactly the outcome he wants on the court? What basketball player matched the charisma, brilliance, and even investment success of Keynes?

And why does Cardiff argue that Tyler himself is the Charles Barkley of economists despite their differences in personality, size, and other obvious dimensions?

All throughout the chat, Tyler and Cardiff are exploring the common traits that lead to greatness in hoops, the social sciences, and perhaps other domains. A treat for fans of either economics or hoops, or who simply appreciate the virtues of fandom itself.

Recommended, for some (not all)!

My new podcast with Dwarkesh Patel

We discussed how the insights of Hayek, Keynes, Smith, and other great economists help us make sense of AI, growth, risk, human nature, anarchy, central planning, and much more.

Dwarkesh is one of the very best interviewers around, here are the links.  If Twitter is blocked to you, here is the transcript, here is Spotify, among others.  Here is the most salacious part of the exchange, highly atypical of course:

Dwarkesh Patel 00:17:16

If Keynes were alive today, what are the odds that he’s in a polycule in Berkeley, writing the best written LessWrong post you’ve ever seen?

Tyler Cowen 00:17:24

I’m not sure what the counterfactual means. Keynes is so British. Maybe he’s an effective altruist at Cambridge. Given how he seemed to have run his sex life, I don’t think he needed a polycule. A polycule is almost a Williamsonian device to economize on transaction costs. But Keynes, according to his own notes, seems to have done things on a very casual basis.

And on another topic:

Dwarkesh Patel 00:36:44

We’re talking, I guess, about like GPT five level models. When you think in your mind about like, okay, this is GPT five. What happens with GPT six, GPT seven. Do you see it? Do you still think in the frame of having a bunch of RAs, or does it seem like a different sort of thing at some point?

Tyler Cowen 00:36:59

I’m not sure what those numbers going up mean, what a GPT seven would look like, or how much smarter it could get. I think people make too many assumptions there. It could be the real advantages are integrating it into workflows by things that are not better GPTs at all. And once you get to GPT, say, 5.5, I’m not sure you can just turn up the dial on smarts and have it, like, integrate general relativity and quantum mechanics.

Dwarkesh Patel 00:37:26

Why not?

Tyler Cowen 00:37:27

I don’t think that’s how intelligence works. And this is a Hayekian point. And some of these problems, there just may be no answer. Like, maybe the universe isn’t that legible, and if it’s not that legible, the GPT eleven doesn’t really make sense as a creature or whatever.

Dwarkesh Patel 00:37:44

Isn’t there a Hayekian argument to be made that, listen, you can have billions of copies of these things? Imagine the sort of decentralized order that could result, the amount of decentralized tacit knowledge that billions of copies talking to each other could have. That in and of itself, is an argument to be made about the whole thing as an emergent order will be much more powerful than we were anticipating.

Tyler Cowen 00:38:04

Well, I think it will be highly productive. What “tacit knowledge” means with AIs, I don’t think we understand yet. Is it by definition all non-tacit? Or does the fact that how GPT-4 works is not legible to us or even its creators so much? Does that mean it’s possessing of tacit knowledge, or is it not knowledge? None of those categories are well thought out, in my opinion. So we need to restructure our whole discourse about tacit knowledge in some new, different way. But I agree, these networks of AIs, even before, like, GPT-11, they’re going to be super productive, but they’re still going to face bottlenecks, right? And I don’t know how good they’ll be at, say, overcoming the behavioral bottlenecks of actual human beings, the bottlenecks of the law and regulation. And we’re going to have more regulation as we have more AIs.

You will note I corrected the AI transcriber on some minor matters.  In any case, self-recommending, and here is the YouTube embed:

Wednesday assorted links

1. The Frick Museum will reopen with 14 (!) evening bars.

2. Sebastian Barry in conversation with Roy Foster.

3. On ideological gender disparities in Korea.

4. Those new service sector jobs, What is Intervenor Compensation?, and “robot wranglers” (WSJ).

5. Is Petro stifled in Colombia?

6. Further fresh Vitalik.  Includes coverage of his childhood, more personal than about mechanism design.

7. Is there really a “National Hug an Economist Day”?

8. Other than this tweet, I know nothing about the new Catholic Institute of Technology.

In Praise of Non-conformity

In this age, the mere example of nonconformity, the mere refusal to bend the knee to custom, is itself a service. Precisely because the tyranny of opinion is such as to make eccentricity a reproach, it is desirable, in order to break through that tyranny, that people should be eccentric. Eccentricity has always abounded when and where strength of character has abounded; and the amount of eccentricity in a society has generally been proportional to the amount of genius, mental vigour, and moral courage which it contained. That so few now dare to be eccentric, marks the chief danger of the time.

John Stuart Mill

I saw this quote on Facebook and thought immediately of my friend Bryan Caplan. Bryan’s book of essays, You Will Not Stampede Me: Essays on Non-Conformism is an excellent guide not simply to Bryan’s non-conformism but also on how to be a successful non-conformist in a conformist world.

What should Stripe Press reprint?

Stripe Press just launched a call for reprints to enrich our collection with out-of-print books suggested by our readers. Given the shared interests of our audiences, Tam and I thought it would be fitting to reach out. Would you be open to featuring our Google Form in the Marginal Revolution links roundup? Your support would be invaluable in reaching a wider, engaged audience.

The Google Form is open…

Did the Trump tariffs help the heartland?

No, but they did get him some votes there:

We study the economic and political consequences of the 2018-2019 trade war between the United States, China and other US trade partners at the detailed geographic level, exploiting measures of local exposure to US import tariffs, foreign retaliatory tariffs, and US compensation programs. The trade-war has not to date provided economic help to the US heartland: import tariffs on foreign goods neither raised nor lowered US employment in newly-protected sectors; retaliatory tariffs had clear negative employment impacts, primarily in agriculture; and these harms were only partly mitigated by compensatory US agricultural subsidies. Consistent with expressive views of politics, the tariff war appears nevertheless to have been a political success for the governing Republican party. Residents of regions more exposed to import tariffs became less likely to identify as Democrats, more likely to vote to reelect Donald Trump in 2020, and more likely to elect Republicans to Congress. Foreign retaliatory tariffs only modestly weakened that support.

That is from a new NBER working paper by David Autor, Anne Beck, David Dorn, and Gordon H. Hanson.