Saturday, October 27, 2018

Dexter Gordon

Because we need some beauty when the world gets ugly.

Friday, October 26, 2018

CA Prop 10

A YES vote removes some state restrictions on local rent control ordinances. I like letting local governments set these kinds of policies, even when they make mistakes. So I might vote for it. But I believe rent control is at best a distraction from good solutions to our housing affordability problem. Over time, it may well make matters worse. So I might vote NO... Still mulling it over.

Cities! Education!

"Our instrumental variables estimate is that on average, an extra year of schooling [city average] is associated with 22.0% higher hourly wages across cities." (Glaeser and Lu) Their methodology, if valid, implies that this is a causal effect of human capital spillovers, not just productive cities building more schools or attracting better-educated migrants.

A human capital spillover of this magnitude seems enormous to me, given that the typical estimate of the individual-level return to a year of schooling might be on the order of 10%. It's as if a city gets a 200% bonus on the return to schooling because smarter people get to interact with other smarter people.

The authors note that although huge, their estimate doesn't come close to explaining the bulk of China's growth in per capita income over the past three decades. Still, it's pretty good news for education- and city-boosters... like me!

Sunday, October 14, 2018

Tokyo Story

Some say that this 1953 Ozu masterpiece is the greatest film ever made. Finally having seen it, I can't say I disagree. Trigger warning: I'm still wiping my eyes. Exquisite.

Saturday, October 13, 2018

Funk Box

Now on a Spotify player near you. From Aretha to Bootsy to CHIC all the way to Zapp, even the cheese (think George Benson) will worm its way into your pleasure center.