Book review: Shut Out: How a Housing Shortage Caused the Great Recession and Crippled Our Economy, by Kevin Erdmann.
Why did the US have an unusually bad recession in 2008, followed by years of disappointing growth?
Many influential people attribute it to the 2004-2006 housing bubble, and the ensuing subprime mortgage crisis, with an implication that people bought too many houses. Erdmann says: no, the main problems were due to obstacles which prevented the building and buying of houses.
He mainly argues against two competing narratives that are popular among economists:
- increased availability of credit fueled a buying binge among people who had trouble affording homes.
- there was a general and unusual increase in the demand for homes.
Reframing the Housing Bubble
Book review: The Explanation of Ideology: Family Structure and Social Systems, by Emmanuel Todd.
What features distinguish countries that embraced communism from countries that resisted?
Why did Islam spread rapidly for a century and a half, then see relatively few changes in its boundaries for more than a millennium?
Todd’s answer is that the structure of the family is a good deal more stable than ideologies and religions, and different family structures create different constraints on what ideologies and religions will be accepted. Published in 1983, it still seems little-known.
Maybe this neglect is most pronounced in the English-speaking parts of the world, where one family structure is overwhelmingly popular, and alternatives are often dismissed as primitive relics. France seems more conducive to Todd’s insights, since France has four different family structures, each dominating in various regions.
There’s a new clinical trial result showing that Bredesen’s approach is able to at least partially cure common forms of Alzheimer-like dementia. (Press release here). It has not received as much attention as it deserves.
The 9 month study seemed a bit less impressive than what I’d hoped for, but the outcomes still support the claim that common forms of dementia are partly curable.
Out of 25 patients, 21 or 19 improved their cognition compared to the start of the trial, depending on which measure I look at, and 2 or 3 declined.
Side effects included occasional improvements in hypertension and diabetes, enough to allow patients to stop taking medications for those conditions.
Book review: Noise: A Flaw in Human Judgment, by Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein.
Doctors are more willing to order a test for patients they see in the morning than for those they see late in the day.
Asylum applicants chances of prevailing may be as low as 5% or as high as 88% purely due to which judge hears their case.
Clouds Make Nerds Look Good, in the sense that university admissions officers give higher weight to academic attributes on cloudy days.
These are examples of what the authors describe as an important and neglected problem.
A more precise description of the book’s topic is variations in judgment, with judgment defined as “measurement in which the instrument is a human mind”.
It’s been a decade since I blogged about the benefits of avoiding news.
In that time I mostly followed the advice I gave. I kicked my addiction to The Daily Show in late 2016 after it switched from ridiculing Trump to portraying him as scary (probably part of a general trend for the show to be less funny). I got more free time, and only missed the news a little bit.
Then the pandemic hit.
I suddenly needed lots of new information. Corporate earnings releases were too slow.
Wikipedia, Our World in Data, Metaculus, and some newly created COVID-specific web sites partly filled that gap. But I still needed more, and I mostly didn’t manage to find anything that was faster or more informative than the
news media storyteller industry.
That at least correlated with higher than normal stress. I suspect that paying attention to the storytellers partly caused the stress.
Book review: Ageless: The New Science of Getting Older Without Getting Old, by Andrew Steele.
The latest book on aging is a bit more ambitious than the previous two that I reviewed, but still rather modest compared to Aubrey de Grey’s book that heralded the start of serious attempts at fighting aging.
Ageless is relatively balanced, well-organized, and comprehensive.
Book review: The Alignment Problem: Machine Learning and Human Values, by Brian Christian.
I was initially skeptical of Christian’s focus on problems with AI as it exists today. Most writers with this focus miss the scale of catastrophe that could result from AIs that are smart enough to subjugate us.
Christian mostly writes about problems that are visible in existing AIs. Yet he organizes his discussion of near-term risks in ways that don’t pander to near-sighted concerns, and which nudge readers in the direction of wondering whether today’s mistakes represent the tip of an iceberg.
Most of the book carefully avoids alarmist or emotional tones. It’s hard to tell whether he has an opinion on how serious a threat unaligned AI will be – presumably it’s serious enough to write a book about?
Could the threat be more serious than that implies? Christian notes, without indicating his own opinion, that some people think so:
A growing chorus within the AI community … believes, if we are not sufficiently careful, the this is literally how the world will end. And – for today at least – the humans have lost the game.
Mainstream medicine has become increasingly standardized over the past few decades.
Standardization has some benefits: reduced inequality, improved procedures for minimizing mistakes, and increased predictability. Those attributes are often easier to verify than health effects.
Standardization is not so great for promoting innovation (standardizing a few building blocks may promote innovation, but that’s not what medicine has done). Yet medicine is an area where we have a relatively high need for more innovation.
It would be nice if one system of medicine provided everything that I want from medicine. Just like it would be nice if one company could provide all my transportation needs, or every type of food that I want, or an operating system with all the software that I want to use.
Alas, none of those seem close to being feasible this decade. Yet I get the impression that many more people expect it of medicine than is the case for food or transportation.
I’ve reached an age when it’s valuable to ask a good deal from medicine. So in addition to a standard doctor, I’ve engaged with a competing “brand” of medicine.
Specifically, the functional medicine practitioners at Chris Kresser’s Adapt180.
Book review: The Geography of Thought: How Asians and Westerners Think Differently… and Why, by Richard E. Nisbett.
It is often said that travel is a good way to improve one’s understanding of other cultures.
The Geography of Thought discredits that saying, by being full of examples of cultural differences that 99.9% of travelers will overlook.
Here are a few of the insights I got from the book, but I’m pretty sure I wouldn’t have gotten from visiting Asia frequently:
TL;DR: loss of topsoil is a problem, but not a crisis. I’m unsure whether fixing it qualifies as a great opportunity for mitigating global warming.
This post will loosely resemble a review of the book Dirt: The Erosion of Civilizations, by David R. Montgomery. If you want a real review, see Colby Moorberg’s review on Goodreads.
Depletion of topsoil has been an important cause of the collapse of large civilizations. Farmers are often tempted to maximize this year’s production, at the cost of declining crop yields. When declining yields leave an empire unable to feed everyone, farmers are unwilling to adopt techniques that restore the topsoil, because doing so will temporarily decrease production further. The Mayan civilization seems to have experienced three cycles of soil-driven boom and bust lasting around 1000 years per cycle.