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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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Economy

How much more will oil prices have to go up?

[Robin] Brooks: So let me give you two ways of thinking about what’s going on, both of them are really about trying to think about what kind of risk premia need to be priced in oil, given all the massive uncertainty that we have. The first way that I’ve been thinking about this is—I spent […] The post How much more will oil prices have to go up? appeared first on Marginal REVOLUTION. Related StoriesMore on the David Lang opera version of Wealth of NationsA Danish Fix for U.S. Mortgage Lock-in...

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Technology

Those new service sector jobs?

An AI memory startup called Memvid is offering $800 for a one-day, eight-hour shift for one candidate to “bully” AI chatbots by telling them what to do on camera. Business Insider reported this week that Memvid wants someone to spend eight hours testing and critiquing the memory of popular AI chatbots, effectively paying $100 an hour for what […] The post Those new service sector jobs? appeared first on Marginal REVOLUTION. CommentsIn reply to Ben. They're probably selling the videos for . by...

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Economy

Canada facts of the decade

From 2014 to 2024, Canada’s real GDP per capita adjusted for purchasing power parity grew by just 3.2 percent in total, an anemic 0.4 percent per year on average, and the third lowest among 38 advanced nations. Over the same period, the United States posted 20.2 percent total growth (1.9 percent annually), and the OECD […] The post Canada facts of the decade appeared first on Marginal REVOLUTION. CommentsIn reply to Freebee34. I don't know that emigration has . by DismalistIn reply to Freebee...

Canada
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Culture

More on the David Lang opera version of Wealth of Nations

In 18 parts, Lang explores some of Smith’s central themes, including one of the book’s most famous passages, where Smith uses a wool coat worn by a very poor Scottish worker as a way to examine trade. “He asks, ‘Did you ever think of how many people need to be employed in order to make […] The post More on the David Lang opera version of Wealth of Nations appeared first on Marginal REVOLUTION. Related StoriesA Danish Fix for U.S. Mortgage Lock-inIs AI currently helping economic research?Unive...

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Economy

Is AI currently helping economic research?

The third possibility, that AI helps to weed out mistakes, is trickier for the discipline. This stage could become even more important if journals do start to be hit by a wave of AI-generated slop — or, perhaps more likely, good papers with so many appendices and robustness checks that even the most dedicated referee […] The post Is AI currently helping economic research? appeared first on Marginal REVOLUTION. CommentsIn reply to )( ./nks V. On K-Street in DC, there is a large . by DICK NIGER...

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Society

Consumers vs. mates as a source of selection pressure

Evolutionary biology is one attempt to explain the nature of living beings. In that framework there is a difference between individuals and genes. If a practice increases the chance that genes will be passed along, it may evolve and be passed along, whether or not it serves either individual or collective self-interest. To give a […] The post Consumers vs. mates as a source of selection pressure appeared first on Marginal REVOLUTION.

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Economy

*Recession*, by Tyler Goodspeed

The subtitle is The Real Reasons Economies Shrink and What To Do About It. Here is from the book’s summary: Contrary to popular perception, recessions are not the inevitable bust that follows an unsustainable boom, and they do not operate like wildfires that clear out economic deadwood. Recessions are caused by adverse shocks like war […] The post Recession, by Tyler Goodspeed appeared first on Marginal REVOLUTION. CommentsIn reply to LivelyClock. In Ancient Greek philosophy Link . by Andro...

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Politics

My excellent Conversation with Harvey Mansfield

Here is the audio, video, and transcript. Here is part of the episode summary: Tyler and Harvey discuss how Machiavelli’s concept of fact was brand new, why his longest chapter is a how-to guide for conspiracy, whether America’s 20th-century wars refute the conspiratorial worldview, Trump as a Shakespearean vulgarian who is in some ways more democratic […] The post My excellent Conversation with Harvey Mansfield appeared first on Marginal REVOLUTION. Related StoriesA simple way to improve you...

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Society

One reason why South Africa is difficult to govern (South Africa fact of the day)

South Africa holds the grim distinction of being the most unequal country on Earth. South Africa leads the global ranking with a Gini index of 0.63. Statista The richest 10% of South Africans hold 71% of the wealth, while the poorest 60% hold just 7%. World Population Review This extreme inequality is largely rooted in […] The post One reason why South Africa is difficult to govern (South Africa fact of the day) appeared first on Marginal REVOLUTION. CommentsIn reply to Pipsterate. Claude sai...

South Africa
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Economy

Some simple economics of AI?

AI lowers the cost of building businesses. But it raises the bar for sustaining advantage. More companies can start. Fewer can dominate. That implies greater dispersion. More volatility. Less structural concentration. A market that rewards adaptability rather than mere size. And it raises the question that follows logically from duration compression: if software moats erode […] The post Some simple economics of AI? appeared first on Marginal REVOLUTION. CommentsIs everyone going to write like...

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Economy

International Comparison of Physician Incomes

We compare physician incomes using tax data from the United States, Canada, Sweden, and the Netherlands. Physicians are concentrated in the top percentiles of the income distribution in all four countries, especially in the United States and certain specialties. Physician incomes are highest in the United States, and a decomposition shows that this mainly reflects […] The post International Comparison of Physician Incomes appeared first on Marginal REVOLUTION. Related StoriesSome simple econo...

United States, Canada, Sweden, Netherlands
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Politics

The hyper-NIMBY of earlier Cape Town and South Africa

The most controversial of the forced removals occurred in the second half of the 1960s, with the expulsion of 65,000 coloureds from District Six, a vibrant inner-city ward of Cape Town, where whites, many of the slumlords, owned 56% of the property. Against their will, District Six residents were moved out to the sandy townships […] The post The hyper-NIMBY of earlier Cape Town and South Africa appeared first on Marginal REVOLUTION. CommentsOr watch the movie District 9? by BakaIn reply to Mi...

South Africa
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