The Value of Connections in 2008

The Baseline Scenario

By James Kwak

These days, some papers get more attention when they are in draft form than when they are published, in part because of the length of the review and publication cycle. Recall the Romer and Romer paper on the impact of tax changes, or the Philippon and Reshef paper on the financial sector, both of which made huge splashes years before they were finally published. My best-known paper also falls in that category. “The Value of Connections in Turbulent Times” began knocking around the Internet in 2013, and is only now being published by the Journal of Financial Economics—nine years after we began working on it, and at a time when the world seems to have completely moved on from its subject. (Note: that link will allow you to download the published version of the paper for free, but only until September 4, 2016. Thanks Elsevier, I guess.)

The paper, as…

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Deirdre McCloskey explains the Wilt Chamberlain example

Source: Deirdre McCloskey: editorials: Review of Michael J. Sandel’s What Money Can’t Buy:  The Moral Limit of Markets , New York: Ferrar, Straus and Giroux, 2012. Pp. 244 +viii. Index. by Deirdre McCloskey  August 1, 2012. Shorter version published in the Claremont Review of Books XII(4), Fall 2012

The reasons why drugs are expensive

Image

Syria ~ Map Update dd August 1, 2016

Monty Python – Travel agent sketch & theory of the brontosaurus  

The fatal conceit of do-gooders

Infographic: A historical guide to separation walls (Richard Johnson)

Michael Sandberg's Data Visualization Blog

Readers:richard-johnson-image

As I have mentioned in past posts, one of my favorite illustrators is Richard Johnson (photo, right). If you search on his name on my blog site, you will see several different examples of his work I have highlighted before.

Richard created the following infographic last year and it is titled From the Great Wall of China to the Southwest border: A historical guide to separation walls.

Here are Richard’s thoughts about creating this infographic.

A separation barrier/defensive wall is designed to limit the movement of people across a certain line or border, or to separate lands in order to protect people or cultures. They have been used for many thousands of years and built in a variety of materials, shapes and scales. Here are some famous examples and their maximum height to scale:

Later this week, I plan to show some data visualizations related to building a…

View original post 68 more words

The psychological limits of Corbyn’s moral authority

The Gerasites

By Bill Blackwater

This is a cross-post from the Renewal blog – republished here with kind permission from the editors.

Jeremy Corbyn’s Labour leadership campaign was based on his moral authority, in turn said to be the key to renewing the party’s appeal in its traditional heartlands. But latest research on the psychological basis of morality, and its relationship to political views, suggests this was always misguided.

“The Labour Party is a moral crusade—or it is nothing.” Harold Wilson’s famous remarks, made at Labour’s Scottish Spring Conference in May 1964, still resonate in debates on the party’s direction. The journalist Tom Clark summed this up during last summer’s leadership contest, with reference to the decision of Labour’s front bench to abstain on a vote on welfare cuts. Taking up the options Wilson set out, he put it that the three mainstream candidates had “plumped for nothing”. Hence the…

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Iraq ~ Map Update dd August 1, 2016

Pink Floyd – Another Brick In The Wall

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