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Marginal Revolution

Marginal Revolution

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Economics blog by Tyler Cowen and Alex Tabarrok covering economics, culture, and ideas.

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Discussions from Marginal Revolution

Economy

Zimbabwe facts of the day

Zimbabwe, often considered an economic basket-case because of its history of farm seizures and hyperinflation, is enjoying an idiosyncratic boom. High prices for the metal and other commodities have led to a surge of cash through its highly informal economy. They have made it easier for authorities to stop printing money and meddling in currency […] The post Zimbabwe facts of the day appeared first on Marginal REVOLUTION. CommentsIn reply to Kyoto. There are a group of coffee shops near . by ...

Zimbabwe
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Economy

A Comparison of Agentic AI Systems and Human Economists

This paper compares agentic AI systems and human economists performing the same causal inference tasks. AI systems and humans generally obtain similar median causal effect estimates. While there is substantial dispersion of estimates across model instances, the human distributions of estimates have wider tails. Using AI models as reviewers to compare and rank “submissions,” the […] The post A Comparison of Agentic AI Systems and Human Economists appeared first on Marginal REVOLUTION. Comments...

United States
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Education

Will college get fixed?

That is the topic of my latest Free Press column. Here is one excerpt: So schools will respond to cost pressures by letting quality deteriorate. More instruction will be of the inferior online variety. There are very good online experiences, but schools are too bureaucratic and not run well enough to deliver them. Fewer professors […] The post Will college get fixed? appeared first on Marginal REVOLUTION. Related StoriesEmergent Ventures India, 16th cohortThe Public Choice Outreach Conference...

United States
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Geopolitics

That was then, this is not now?

The 1941 Anglo-Soviet invasion destroyed Reza Shah — but not the Pahlavi state. The two Allies — joined by the United States in December 1941 — realized that the Iranian state could be useful in achieving the two goals for which they had invaded the country: physical control over oil — the British nightmare in […] The post That was then, this is not now? appeared first on Marginal REVOLUTION. CommentsIndeed. Indeed. Indeed. Indi, indy, indie, iterant, indeedy. by )P uioThat was then, this is ...

Iran
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Economy

The Chinese Current Account Imbalances

The subtitle of the paper is Puzzles, Patterns, and Possible Causes. Here is the abstract: China’s large current account surplus has been an irritant to its trading partners. While industrial and trade policies often lead to sector-level imbalances, they play a relatively limited role in the economy-wide surplus. Structural factors such as an unbalanced sex […] The post The Chinese Current Account Imbalances appeared first on Marginal REVOLUTION. Related StoriesIn Development magazineRevising...

China
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Education

Emergent Ventures India, 16th cohort

Roumak Das, a grade 11 student from West Bengal, and Samik Goyal, a 12th grader from Patiala, received their grants to travel to the International Olympiad in Artificial Intelligence 2025 in Beijing, where Roumak won a gold medal and Samik a silver medal. Roumak’s grant also supports his college applications, and Samik’s grant supports SPOI, […] The post Emergent Ventures India, 16th cohort appeared first on Marginal REVOLUTION. CommentsIn reply to ukno1. Enter Vanderbilt. by CorneliusMichiga...

Global
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Economy

In Development magazine

A new venture, focusing on evidence-based approaches to economic development globally. Here is Paul Niehaus on GiveDirectly and the evidence for cash-based transfers. Here is the home page and a link to subscribe. The post In Development magazine appeared first on Marginal REVOLUTION. CommentsIn reply to Phil S. In place of studying empirically, maybe . by BCIn reply to Phil S. One faggot I met said we want a wall. by Art Deco“[An RCT] almost died in—of all places—ethics review: . by BCIf Giv...

Global
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Economy

My excellent Conversation with Kim Bowes

Here is the audio, video, and transcript. Here is the episode summary: Kim Bowes is an archaeologist at the University of Pennsylvania whose book, Surviving Rome: The Economic Lives of the Ninety Percent, Tyler calls perhaps his favorite economics book of 2025. By sifting through the material remains of Roman life — shoes, bricks, ceramics, and […] The post My excellent Conversation with Kim Bowes appeared first on Marginal REVOLUTION. CommentsI hope Tyler asked how often she thinks about the...

United States
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Geopolitics

That was then, this is now

But despite the pitiful state into which the country had descended, the major outside powers, Russian and the Ottoman Empire, did not intervene as they had in 1722-1725. It was partly that they were busy elsewhere, and surely also that the outcome of their previous attempts had not encouraged them to repeat the experiment. That […] The post That was then, this is now appeared first on Marginal REVOLUTION. CommentsThis is now: Russia’s focus on Ukraine reduced its capacity . by Mark CIn reply ...

Global
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Society

Are we underestimating youth well-being?

Although there is growing evidence that the subjective wellbeing among the young declined in recent years, the evidence is not consistent across surveys. We examine the relationship between age and various measures of wellbeing and illbeing across three major surveys – the Gallup World Poll (GWP, Global Minds (GM) and the Global Flourishing Survey (GFS). […] The post Are we underestimating youth well-being? appeared first on Marginal REVOLUTION.

Global
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Geopolitics

The Venetian empire and the Mongols (modeling Marco Polo)

In contrast, the Polo brothers who went to Asia, Niccolo the elder and Matteo the elder, amassed wealth both in tangible and intangible assets. It was Marco “the voyager” who benefited most from the family business, both as the heir to substantial portions of the family estate, and as a shrewd and cautious — and […] The post The Venetian empire and the Mongols (modeling Marco Polo) appeared first on Marginal REVOLUTION. Related StoriesThat was then, this is nowWhat should I ask Bob Spitz?Moon...

Global
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Geopolitics

Incentives matter, Mexican cartel edition

But the cartel’s interests may prove just as important to security as government efforts, according to a dozen local and state officials and security experts. The CJNG has much to gain from the regional economic boost of a successful tournament in Guadalajara — akin to its administrative headquarters — and much to lose from drawing […] The post Incentives matter, Mexican cartel edition appeared first on Marginal REVOLUTION. CommentsIn reply to Anti-Gnostic. Yes, the “stationary bandit” . by D...

Mexico
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