28 FEB 2021 by ideonexus

 Why Automation Didn't Result in Increased Leisure in the ...

Back then, many theorists believed that a progressive reduction of work time was the inevitable byproduct of mechanization and increased efficiency. Even John M. Keynes, noted father of modern mass-consumption economics, argued in 1931 that, within two generations, industry would satisfy the real needs of humanity and lead to “three-hour shifts or a 'fifteen-hour week.” This reduction in work time, said Keynes, would allow us to “devote our further energies to non-economic purposes.” ...
Folksonomies: leisure automation
Folksonomies: leisure automation
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30 DEC 2016 by ideonexus

 Naysmiths

Magnus broods in his black tower, peering into the depths of the Great Ocean for validation, a sign that he was right to act as he did. He will find nothing, for there is nothing to find. His actions were never his own, for he forgot the first rule of the mysteries. He let his ambition and hubris blind him to his flaws and the knowledge that there is always someone stronger and more powerful out there. I will not make that mistake. But we are still creatures of flesh and inclined to repe...
Folksonomies: disputation contrarian
Folksonomies: disputation contrarian
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08 MAR 2015 by ideonexus

 High Rates of Return on College Education Comes with High...

Attending college has been considered one of the most protable investments, annualized returns ranging from 8% to 13% (Card 1999). I utilize a simple approach, as in Mehra and Prescott (1985), to quantify how much of the excess return to college is explained by its risk. I also explore the role played by heterogeneous ability by developing a life-cycle model with endogenous enrollment and analyzing the dropout risk effect on college returns. Under the risk premium approach, the permanent inc...
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19 DEC 2014 by ideonexus

 How the Finance Industry Hurts the Economy

In perhaps the starkest illustration, economists from Harvard University and the University of Chicago wrote in a recent paper that every dollar a worker earns in a research field spills over to make the economy $5 better off. Every dollar a similar worker earns in finance comes with a drain, making the economy 60 cents worse off. [...] ...the growth of complex financial products has served primarily to boost income for the firms themselves, Philippon said. A new paper from researchers in t...
Folksonomies: economy finance
Folksonomies: economy finance
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17 NOV 2014 by ideonexus

 An Eloquent Description of Science and Wonder

As I gathered information for this book, I was continually reminded of the reality that science, rooted as it is in the certainties of the physical world, is a process that necessarily unfolds over time. In school, science classes tend to work according to this linear model; there's a “beginning, middle, and end” to science investigations, no matter how hard teachers may fight the “cookbook” reductionism that threatens true scientific inquiry. Yet, in probing further, I came to unders...
Folksonomies: science education wonder
Folksonomies: science education wonder
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01 SEP 2014 by ideonexus

 Literature Asks Questions without Offering Answers

Even when writers profess to know nothing about the inner man, they often make the profession in a way which suggests that they really know plenty When D. H. Lawrence says (in his essay on Benjamin Franklin) "The soul of man is a dark forest," he says it with a kind of knowing Satanic smirk, so that the profession of ignorance actually becomes a species of knowledge. When I first read that ominous Lawrence sentence I was young and it was news to me that my soul was a dark forest. For several ...
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23 JUL 2014 by ideonexus

 Chinese Books Lack an Index

Yet even if some technological fix were to be devised to solve the problem of character entry, the non-alphabetic nature of the writing system still results in other serious and long-standing “invisible” problems. For example, the inclusion of a standard index to books, manuals and reference materials is made orders of magnitude more difficult by the Chinese writing system. The result is that to this day, the vast majority of non-fiction books published in China do not have an index, or a...
Folksonomies: writing chinese sinology
Folksonomies: writing chinese sinology
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27 DEC 2013 by ideonexus

 Why Economists Will Continue to be Wrong

Carter had initially used arbitrary parameters in his perfect model to generate perfect data, but now, in order to assess his model in a realistic way, he threw those parameters out and used standard calibration techniques to match his perfect model to his perfect data. It was supposed to be a formality--he assumed, reasonably, that the process would simply produce the same parameters that had been used to produce the data in the first place. But it didn't. It turned out that there were many ...
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They make models based on past data, and when they fail to predict the future, they adjust them to match the new past data. The problem is that so many models will match the past data, there could be no end to the number of models they throw out.

24 DEC 2013 by ideonexus

 The Pareto Distribution

The Pareto distribution shows up in a remarkably wide array of complex systems. Together, “the” and “of” account for 10 percent of all words used in English. The most volatile day in the history of a stock market will typically be twice as volatile as that of the second-most volatile and ten times the tenth-most. Tag frequency on Flickr photos obeys a Pareto distribution, as does the magnitude of earthquakes, the popularity of books, the size of asteroids, and the social connectedness...
Folksonomies: statistics
Folksonomies: statistics
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Clay Shirky on what is also known as the "long-tail effect" or "90% of everything is crap" effect.

18 NOV 2013 by ideonexus

 Gender is Not Binary

he gender binary is the artificial division of the world into things that are "masculine" or "for men" and things that are "feminine" or "for women". One of the starkest ways to think of this is to consider the phrase "opposite sexes/genders" (as opposed to "different sexes/genders"), when both men and women are human beings with fundamentally many more commonalities than differences. The division is artificial in several ways: much of it is very clearly socially constructed. For example,...
Folksonomies: gender sexuality equality
Folksonomies: gender sexuality equality
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Interesting concept from feminist and homosexual literature. The scientific point of view on this is that human males and females are dimorphic to various degrees.