Left Outside

Daron Acemoglu is Blogging

The guy is basically top of the game in Economic History writing, seventh most cited economist according to Repec. He and James Robinson have started a blog called “Why Nations Fail” to coincide with their new book of the same title.

Summary as lifted from their site:

Is it culture, the weather, geography? Perhaps ignorance of what the right policies are?

Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest-growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence?

Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or the lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories.

Based on fifteen years of original research, Acemoglu and Robinson marshal extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including:

  • China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?
  • Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?
  • What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions?

Why Nations Fail will change the way you look at—and understand—the world.

Follow the blog, you will become a more fulfilled human being if you get off on learning interesting things.

____

Update: Whoa, whoa, whoa, they don’t allow comments! Minus points. Bad Acemoglu and Robinson!

Filed under: Blogging, , ,

Bulgaria under the yoke of Communism again

Spiegel: Great Wall this week became the first Chinese automobile manufacturer to open an automobile assembly plant inside the European Union…

…Bulgaria, the EU’s poorest country, is attractive as a labor market because it is an oasis of cheap wages and low taxes. Workers are considered well educated and the country is ideal as the site for a company like Great Wall to launch. Given that wages for factory workers have risen considerably in China in recent years, assembly sites abroad have become increasingly attractive for some manufacturers.

(H/T). Some thoughts:

  1. Don’t overweight cheap labour and underweight transport costs and clustering in thinking about global trade.
  2. There will be more of this. In the end the country with the most people wins – that means China for a while and India afterwards.
  3. There should be less of this, trade barriers mean international investments need to be made that would not were the EU a true open borders free trade area.
  4. East Asian labour is remarkably low-skilled and poorly educated despite what positive prejudices  you might hold.
  5. Technology is highly mobile and drives convergences in incomes all round the world in interesting ways.
  6. The future prosperity do the world depends on the rich world restraining its xenophobic hostility to foreign capital, as much as foreign workers. You boss may one day speak another language and earn much of his money in a foreign currency, that should be fine so long as she still pays your wages.
  7. We live in interesting times.

Filed under: Economics, Society, , , , , , ,

You can think a foetus is a person and still think abortion is okay

On abortion, no, just no:

On the one side, it’s not a human, just a blob, entirely up to the woman what she wants to do with it.

On the other it’s one of God’s chosen creatures and so deserving of the same protections the rest of us get.

You can think a foetus is a person and that a woman is allowed to abort it.

If a woman’s body is her own – and it is – then even if someone is reliant on her for life she has the right to refuse that support. A foetus’s right to life does not involve the right to use someone else’s body…

You wake up in the morning and find yourself back to back in bed with an unconscious violinist. A famous unconscious violinist. He has been found to have a fatal kidney ailment, and the Society of Music Lovers has canvassed all the available medical records and found that you alone have the right blood type to help. They have therefore kidnapped you, and last night the violinist’s circulatory system was plugged into yours, so that your kidneys can be used to extract poisons from his blood as well as your own. [If he is unplugged from you now, he will die; but] in nine months he will have recovered from his ailment, and can safely be unplugged from you.

So the argument should not be sidetracked by debates on whether a foetus is alive or not. The real crux of the matter is whether a woman’s body is her own or that of society.

You could say that the woman chose to have sex and that implies an obligation to the consequence of that. But that just underlines the real reason most religious people are against abortion; babies are punishment sluts for having sex.

Consider for example, if you really, actually, honestly thought life began at conception then you would be in constant mourning. At least half of all fertilised eggs fail to implant. That means that for every person born at least one has already died, the attrition rate makes abortion seem trivial. There is basically no better way to spend money to save lives than working to improve that statistic. Yet anti-choicers spend money punishing sluts campaigning to lower the termination limit on abortions.

Call it revealed preferences, anti-choicers like punishing women, but not working to improve embryonic implantation rates. Makes you question their motivations, no?

Filed under: Society, , ,

Quite

It’s called an argumentum ad hominem, which means ‘argument against the person’. It’s got a Latin name because we’ve known it’s bullshit for thousands of fucking years.

*

Filed under: Blogging

When NGDP is Depressed, Employment is Depressed

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