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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

Culture

My excellent Conversation with Luke Burgis

Here is the audio, video, and transcript. Here is the episode summary: Luke Burgis left Wall Street after two years, founded a few successful companies in his twenties, then walked away to spend three years in a Roman seminary on the path to the priesthood. He now runs the Cluny Institute and teaches at Catholic […] The post My excellent Conversation with Luke Burgis appeared first on Marginal REVOLUTION. Related StoriesMy very interesting Conversation with Daron Acemoglu*Rome’s Age of Revolu...

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Economy

Some fertility and AI forecasts

The 2024 forecast is particularly pessimistic about China’s fertility prospects. Both projections produce very substantial global aging, a major global capital glut producing very low long-run real capital returns. The latest forecast entails 10% lower global GDP in 2100 and far higher payroll tax rates to fund old-age benefits. Most important, it entails a major […] The post Some fertility and AI forecasts appeared first on Marginal REVOLUTION. CommentsIn reply to Andao. I think we (i.e., re...

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Technology

Capitalizing untethered AI agents

That is my latest piece of writing, co-authored with Sonia Farrell Pearson of Harvard. Here is the opening premise: As early as 2017, the European Parliament floated “electronic personhood” for robots. More recently, a handful of U.S. states introduced legislation explicitly barring AI from legal personhood; and early this summer, President Milei of Argentina proposed letting AI agents own, manage, and bear responsibility […] The post Capitalizing untethered AI agents appeared first on Margin...

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Economy

How economics is changing

As a proportion of the literature, research about econometric theory, monetary policy and corporate governance has slumped. Meanwhile, papers on development, crime and gender are on the up. This could perhaps be because of changing intellectual interests, or maybe demand-side pressures, such as policymaker priorities and external funding… Research from Prashant Garg, a postdoctoral researcher […] The post How economics is changing appeared first on Marginal REVOLUTION. CommentsBy: F. E. Guerr...

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Economy

Morocco facts of the day, Morocco is not hopeless

For decades, South Africa was the great success story of African industrialization. Last year, Morocco took the lead, emerging as the African Development Bank’s top-ranked industrial economy in Africa. In the Bank’s analysis, published in the latest edition of its industrialization index, Morocco’s growth has been “driven by sustained industrial upgrading, export diversification, and strong industrial policy.” Since […] The post Morocco facts of the day, Morocco is not hopeless appeared first...

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Culture

Things you cannot buy in America?

3. Exterior roller shutters (Rollladen) In much of Europe, homes feature heavy shutters integrated into the exterior of the window, enabling total blackout and better insulation. Sleeping in true, complete darkness—not “blackout curtain” darkness, but can’t-see-your-hand darkness—is an experience most Americans will never have. These shutters are nearly impossible to get in the USA because […] The post Things you cannot buy in America? appeared first on Marginal REVOLUTION. CommentsIn reply t...

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Culture

Adolfo Bioy Cesares delay

My Amazon shipment is postponed from this fall until April 11, 2028 (!). Will it ever come? Of course this is the fantastic, and long, Bioy Cesares book Borges, his memoir of their friendship. How can the reoptimization both be so distant and so exact in timing? The post Adolfo Bioy Cesares delay appeared first on Marginal REVOLUTION. CommentsA Soviet-era joke (famously told by President Ronald Reagan) . by lastexposfanThe book is ordered but instead of arriving is given a . by mkt42A man buy...

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Economy

Another rationale for sticky prices?

…what can be predicted, Dabis said, is that a recent policy change by the Washington Metropolitan Area Transit Authority requiring drivers to verbally quote the $2.25 fare to passengers may make their job even riskier. Eight current Metro employees and two former employees who work at the union representing Metro workers told The Washington Post […] The post Another rationale for sticky prices? appeared first on Marginal REVOLUTION. Related StoriesA Conservative Case for Liberal ImmigrationMy...

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Economy

Adding to the barrel of finance fallacies

“I should note also that many (most? almost all?) of the bad scenarios have intermediate points of great worry and catastrophe” Not on my model. By the time any humans start worrying about a takeover or dying, AIs already control all infrastructure That is from Twitter, and I hear or read that argument often. It […] The post Adding to the barrel of finance fallacies appeared first on Marginal REVOLUTION. CommentsIn reply to Hadur. You do not put your reputation on the line . by JakeIn reply t...

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Business

Those old (new?) service sector jobs

An ability to mimic the shrieks of langur monkeys may not seem like a bankable skill, but for some Indians it has become a job, if not a calling. These vocal professionals specialise in pest control and are being employed to keep out unwanted primates as Delhi prepares to host the badminton world championships. The […] The post Those old (new?) service sector jobs appeared first on Marginal REVOLUTION. CommentsIn reply to Nick. Relative prices. by DismalistWildlife management will be one of t...

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Society

Intergenerational mobility of immigrants in 15 destination countries

We estimate intergenerational mobility of children of immigrants in fifteen receiving countries. Children of immigrants have somewhat lower income than children of local-born parents. Around half of this gap can be explained by differences in parental income, with the remainder due to differences in mobility parameters. The daughters of immigrants enjoy higher absolute mobility than […] The post Intergenerational mobility of immigrants in 15 destination countries appeared first on Marginal RE...

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Economy

The Economics of a Shrinking World

From Jesus Fernandez-Villaverde and Patrick Norrick: As of 2026, humanity is likely below replacement fertility. That has never happened before, not in wars or pandemics. But the real surprise is that the fall has been concentrated in low- and middle-income countries and among poorer and less educated women. We fit a single-factor model to 236 […] The post The Economics of a Shrinking World appeared first on Marginal REVOLUTION.

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