67 karma · joined December 1, 2015
You're right to correct me on school being part of the nonshared environment that's my mistake, you probably know more than me how complicated it is to extract meaning from the nonshared environment. Also the temporary nature of the improvements are very confusing. Thanks for the paper.
Here's a summary by SSC (not really an expert but worth reading): https://slatestarcodex.com/2016/05/19/teachers-much-more-tha...
Plus your prior on this should be pretty low given Turkheimer's 3 laws of behavioural genetics. Especially since education is more like a shared environment variable rather than a unique environment variable.
What I find refreshing is the tiny tiny tiny percentage of people that treat their beliefs like a probability distribution that they update very frequently with new empirical and analytic information.
Imagine how painful it is to be an entrepreneur with a very weak signal about how much you can pay people to remain happy to work with you without going broke and still retaining good enough talent.
Technically less information can lead imperfect human reasoners to more rational allocation of resources, but you'd have to do a lot more work to prove that to me than some policymaker's "feeling".
1. Are the majority of the evil extractors (a)regional powers that impose uniform rents or are they (b)targeted extractors that specifically exploit low educated/frail-minded individuals?
2. Does a subset of the latter group of wealth extractors (b) benefit from high mobility in any way? I don't know the full range of extraction schemes which is why I'm asking.
PS. There is a lot of overlap between a&b (see: Ferguson PD and private prisons) but the questions still stand.
Pretends that party agrees with everything he's saying.
Whatever "bubble" means, it should probably only be used as a description of an abrupt crash in retrospect, otherwise we're always in a non-falsifiable bubble state. Saying "We're in a bubble" really just means colloquially "I think this market segment is overvalued", probably not much more than that.
Even if you wanted to specially protect American workers, it would still be more beneficial to allow anyone to take the job then use the excess GDP to make up for the lost wages of Americans. The estimate by Borjas (the most anti-immigrant economist) is that wages would drop at most 5% (IIRC) if open borders happened.