andrewducker: (Default)
[personal profile] andrewducker

Not All Economists

Date: 2017-07-25 12:29 pm (UTC)
danieldwilliam: (economics)
From: [personal profile] danieldwilliam
So this is an article about economists that misuses the word economist. It confuses economists with a particular type of macro-economist. Admittedly that type of macro-economist is prominent and probably influential but I think if you are going to have a rant about a group of people it helps to correctly identify them.

Most ecomomists don't go anywhere near macro-economics. Most are busy doing micro-economics*; trying to understand particular markets or industries, or particular types of behaviour, or understanding what is actually happening in the economy. They are trying to answer useful questions like, what happens if the price of oil doubles, how does innovation happen, how many jobs might be at risk if machine intelligence and robotisation are widespread, why do people buy mustard, what is the best way to promote sensible use of credit in developing countries.

Most economic theory is not set in the hypothetical world of rational markets. Most economic theory is set in the world of understanding where and why rational markets are not rational or indeed to what extent does aggregate market behaviour converge on rational behaviour despite the fact that individuals are not "rational" in a classical economic sense but mostly the work of economists is understand quite narrow areas and what is going on in them. Economics has been moving away from theories of rational markets since Adam Smith founded the science so he could get on the with the more important work of moral philosophy.

I think the real reason economists are being paid better in academia is they have a second market for their skills, working inside large organisations who want their skills understanding the markets and industries they operate in the and the customers, suppliers and competitors with whom they interact.

None of this is to suggest that macro-economists are not guilty of mathiness or that economics is not a very difficult topic on which to do science.

But the cry of "economists are geting paid more than me because they have bambozzled us with mathiness" is, I think, so far from the truth as tobe not even wrong.

Re: Not All Economists

Date: 2017-07-26 10:29 am (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
For someone whose main point is that economists are using mathiness to bamboozle people he spends a fair bit of energy and time on pointing out that economists are paid too much and that e.g. professors of moral philosophy and religious studies are therefore unfairly denied their due.

I think the link between the charlatan status of economists and their pay is pretty important to the article. Economists are paid more than, for example, professors of moral philosophy and religious studies, because DSGE models are flawed they can't be providing a useful service or have some bargaining power "they" therefore must be using mathiness to bamboozle governments and donors. If they were charlatans and only being paid a starvation wage they would soon die off or get jobs as, for example professors of moral philosophy and religious studies. There would be no problem to complain of, but instead "they" use mathiness and gain unfair and unwarranted pay and respect.

I don't think "they" are using #fakemath to bamboozle people. Most of "them" are in fact doing something completely different. Economists are not the the "they" the complaint should be leveled at. There is an error of taxonomy. Many economists have status, pay and influence. Some economists (probably) use math inappropriately and / or don't do enough empirical work.

There's a raft of critisism to be made about things like DSGE models but that is not all that economists do.

I can't help drawing the conclusion that this is a piece of propaganda in a faculty bidding war.
jack: (Default)
From: [personal profile] jack
That makes a lot of sense. Although I feel it would fit better if Sauron actually turned into a giant snake, apparently he missed that step somehow :)

Peter Davidson

Date: 2017-07-25 12:42 pm (UTC)
jack: (Default)
From: [personal profile] jack
Maybe we need better words to distinguish "actively against equality" from "in favour of equality but not seeing that in this case they're the problem". It makes sense to not let people doing #2 off the hook, sometimes those problems are systematically the biggest part of the problem, but it may be easier to call them to account if there's a level of criticism below nuclear.

Like, I think Davidson's comment about boys losing a role model is *right*, but it's still unfortunately blinkered to let yourself say that, without considering the positive effect for girls, and without clearly thinking through which is more important.
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
He's been Inverdaled.

I also have some concerns about the loss of role models for boys. This is not to say that my concerns are correct or that, from a societial point of view my concerns outweigh the opportunities for other people to have particular role models. However, I am the father of a small boy.

I look at some of the other role models on offer for him and they are not great. Heavily monitised footballers, wrestlers, unsubtle presentations of super-heroes in endless reboots of origin stories. Can I punch it or kick it and get paid for it?

So I'm going to go a bit of an audit of the Captain's role models and see if I think the Doctor is as rare today as I think he was when I was the Captain's age.
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
That may already be on his watch list. I know he's watched the film but I can't remember if he watched the film again or started watching the tv series.

He's 7 and pretty smart and wise (mostly) so he should be fine with something that is 7+

We had to stop him watching How I Met Your Mother as he started to get old enough to understand what was going on. Barney Stinson is no substitute for the Doctor.
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
He finds Barney hilarious. The episode where Barney gets so drunk that he can only tell the truth has him rolling on the floor laughing.

But we probably need to have conversations we don't yet have the shared language for before he can watch How I Met Your Mother again.

Date: 2017-07-25 12:56 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
I'm puzzled by hyperloop.

It's fast but I think the limited capacity is against it in a major way.

I'm also getting the impression that the current plan is to put it underground. Which means that unless Elon Musk has really, really lowered the cost of tunnelling it's not going to be cheaper than building a high speed railway or a tram to the airport.

Date: 2017-07-26 12:09 am (UTC)
armiphlage: Ukraine (Default)
From: [personal profile] armiphlage
Grabbing a few numbers from Google:

Horizontal tunnelling for highways is $10,000 to $366,000 per metre.
Vertical drilling for oil wells is $200 to $2000 per metre.
A two-lane surface highway is $3500 per metre.

Perhaps with his narrow-diameter hyperloop tunnel, he hopes to repurpose oil well drilling technology?

Date: 2017-07-26 10:05 am (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
I honestly don't think so.

Oil wells are between 12cm and 100cm.

I'm not an expert on tunnel boring or oil well drilling (although I know a man who is an expert on the latter). However, I'm not sure they are comparable from an engineering point of view. One is a larger hole which is empty and has to last for hundreds of years, the other is a smaller hole which carries fluid under pressure and has to last 20 years. I shall enquire of my family expert and see what he thinks.

Date: 2017-07-26 07:43 pm (UTC)
doug: (Default)
From: [personal profile] doug
He is aiming to cut tunnelling costs by at least an order of magnitude: https://www.boringcompany.com/faq/

The vision for that company is cars on 'skates' that zip through the tunnels under normal air pressure, rather than the Hyperloop low-pressure system. That solves a whole load of potential problems. But cheap tunnels could help Hyperloop work too.

Not sure he'll manage any of it, but I wouldn't bet against him. Not least because other long-shot ideas he had (SpaceX, Tesla) have pretty much come off as planned, and he has more money to bet with than I do. :)

Date: 2017-07-27 12:48 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
I certainly wouldn't bet against Elon Musk.

What I find curious about this tunnel enterprise and hyperloop and Tesla is the combination of very US-centric thinking and a blindspot to public transport.

The Really Boring Company seem to be re-inventing a narrow-gauge light railway underground here.

Date: 2017-07-27 02:04 pm (UTC)
ext_57867: (Default)
From: [identity profile] mair-aw.livejournal.com
I've got nothing against HS2, but I didn't find the "22 reasons" very convincing -- it seems mostly to be saying, France can do it, why can't we, but aiui there are significant geographical differences between France and the UK which create limiting factors for the UK rail network.

Date: 2017-07-25 01:06 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
I worry that the large number of Brexit is already dead articles I'm seeing are a case of the wish being father to the thought.

It's far from clear to me that most people are ready to change their mind from either voting for Brexit (1 in 2) or believing that we should honour the result of the referendum (about 1 in 4).

It's not clear to me that Brexit will go visibly wrong quickly enough for the mood to change before we leave.

It's not clear to me that it going visibly wrong will be ascribed to Brexit rather than Tory incompetence, or Remainer treason.

It's not clear to me that the Tory Party won't just do it anyway.

After all it was pretty clear to Hitler in 1938 that he would lose the Second World War but, nevertheless, he persisted.

Date: 2017-07-25 01:19 pm (UTC)
momentsmusicaux: (Default)
From: [personal profile] momentsmusicaux
So for the subsidised nursery hours, the government pays the nursery significantly less than what parents pay per hour? WTF??

Date: 2017-07-25 01:40 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
I have a friend who runs several nurseries and after-school clubs and is one of the activists campaigning against the fee structure.

The government seem perversely deaf to the notion that if you pay providers less than it costs to provide the service they will stop providing the service either by not offering it or by going bust. For the party who said you can't buck the market they are trying to buck the market.

Dress Codes and Economists

Date: 2017-07-25 01:48 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
In light of my earlier comments on economists - here is an economist who is providing sage advice on a matter of everyday practicality which would have helped at least one organisation in today's Interesting Links.


https://www.johnkay.com/1996/01/12/a-question-of-clarity-and-certainty/

Re: Dress Codes and Economists

Date: 2017-07-26 08:02 am (UTC)
From: [personal profile] anna_wing
I had to create a dress code once. Luckily only for my own department, over which my sway was sufficiently tyrannical that I could enforce it. And the "ask Don" approach was indeed the easiest way to do it. For women it was basically "No visible underwear, no cleavage, no cutouts, no skirts higher than 3 inches above the knee,no bunny slippers and if in doubt ask yourself whether Mdm H (the most senior woman in the organisation) would wear it. For men it was "no Korean boy-band suits and if in doubt ask Steve.

Driverless Indian Government

Date: 2017-07-25 01:52 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
The Indian government seem strangely unable to make the future happen in their country. I am puzzled as to why.

Re: Driverless Indian Government

Date: 2017-07-26 10:07 am (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
I worry a bit that India will put in place a number of restrictions on the introduction of new technology and that will keep people in jobs for a bit until the cost of the implicit subsidy becomes large and the entire Indian economy is distorted by it. I think similar things have happened with fuel subsidies in India and Egypt.

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