Sam’s Links: April Edition – Econlib

Sam Enright, an expert on innovation policy at Progress Ireland, a policy think tank in Dublin, is known for his popular link roundups on his personal blog. In his recent Links for February and Links for March posts, he covers a wide range of topics from AI to economics to music and podcasts.

In one of his links, Enright discusses the disastrous impact of the Jones Act on Puerto Rico, highlighting the unique challenges it poses for the region. He also delves into the world of artificial intelligence, pointing out a new service that allows users to rent humans.

Enright also shares insights from Gavin Leech on learning statistics without going mad, emphasizing the importance of understanding foundational concepts rather than memorizing arbitrary rules. He also touches on the economic incidence of corporation tax in Ireland, shedding light on the disproportionate burden placed on American multinational companies.

In addition to these topics, Enright explores the decline in births in China, the importance of memorization in education, and the legendary awfulness of Irish cooks. He also delves into the reading habits of Francis Bacon and the necessity of property taxes in Ireland.

On the music and podcast front, Enright recommends listening to Ebo Taylor, Chick Corea, and the Beatles’ White Album. He also highlights podcasts on topics ranging from medieval England to general relativity and AI.

Enright’s roundup of books and papers includes a discussion on transformative AI, existential risks, and real interest rates. He delves into the implications of transformative AI on future consumption and borrowing habits, pointing out discrepancies in market expectations.

Overall, Sam Enright’s link roundup provides a diverse and insightful collection of articles, podcasts, and music recommendations for those interested in a wide range of topics. His unique perspective and engaging writing style make his blog a must-read for those looking to stay informed on the latest developments in technology, economics, and culture. The efficient market hypothesis is a popular theory that suggests that all available information is already reflected in asset prices, meaning that it is impossible to consistently outperform the market through stock picking or market timing. Nicholas Decker argues that if one believes in this theory, then the prospect of achieving Artificial General Intelligence (AGI) in the near future seems unlikely.

Decker points out that AI will revolutionize the economy by creating new goods and services that are currently unavailable at any price. This could lead to a scenario where $1 in the post-AGI world could provide significantly more utility, potentially causing a savings glut and falling real interest rates. However, predicting real rates based on this hypothesis is notoriously challenging. Basil Halperin also weighs in on why he believes his paper does not violate Cowen’s Third Law, which states that all propositions about real interest rates are wrong.

While the impact of AI on interest rates remains uncertain, the effect on GDP and equity prices is even more unclear. Economics has a strong understanding of risk and consumption smoothing, but predicting the exact consequences of AI on the economy is a complex and challenging task.

In the realm of AI history, Claude Shannon’s paper on programming a computer for playing chess is a fascinating read. Shannon’s work laid the foundation for modern AI and game-playing algorithms. His estimation of the number of possible chess matches, known as Shannon’s number, remains an unsolved problem to this day. Shannon’s contributions to game theory and AI have had a lasting impact on the field.

On the philosophical front, Peter Singer’s anthology on ethics provides a comprehensive overview of key philosophical works in ethics. Singer’s approach to philosophy, while empirical in nature, has faced criticism for errors and inaccuracies in his works. Despite these criticisms, Singer’s efforts to make philosophy more accessible and empirical have contributed to the field’s development.

In economic research, a study by Clemens Fuest, Andreas Peichl, and Sebastian Siegloch investigates the impact of corporate taxes on wages in Germany. The findings of the study shed light on the relationship between corporate taxes and wage levels, offering valuable insights for policymakers and economists.

Overall, the intersection of AI, economics, philosophy, and ethics presents a rich field for exploration and research. As advancements in AI continue to reshape the economy and society, understanding the implications of these developments is essential for policymakers, researchers, and the general public. The ongoing dialogue and research in these areas will help shape the future of AI and its impact on our world. Ping pong diplomacy, the historic event that paved the way for the normalization of American diplomatic relations with the People’s Republic of China, is a story that is ripe for the silver screen. The tale of how a simple game of ping pong between American and Chinese players led to a breakthrough in international relations is both fascinating and inspiring.

Imagine a film where Dave Franco portrays the captain of the American ping pong team, leading his teammates on a journey that transcends sports and politics. Tony Leung could play Zhou Enlai, the Chinese premier who saw the potential for diplomacy in a game of ping pong. And for a touch of comedic relief, an AI-generated simulation of Peter Sellers as Henry Kissinger could provide some levity to the tense diplomatic negotiations.

The film could showcase the power of sports in bridging cultural divides and opening up channels for communication between nations. The tension and drama of the Cold War era could provide a gripping backdrop for the story of how ping pong became a symbol of peace and cooperation.

In a similar vein, Milton Friedman’s groundbreaking series “Free to Choose” could also make for compelling viewing. The ten-part series, which is available for free on YouTube, delves into the principles of free-market economics and individual liberty. Watching Friedman articulate his ideas on personal freedom and economic prosperity could be both enlightening and thought-provoking.

Filming locations such as the island of Kos, where Friedman discusses the principles of free trade, could provide a picturesque backdrop for the series. And the inclusion of real-life figures like Peter Temin, a renowned economist, could add authenticity to the narrative.

On a different note, the film “Sirāt” by Óliver Laxe has been hailed as one of the best films of the millennium. Tyler Cowen’s review of the film describes it as a deeply moving and thought-provoking work of art. The emotional impact of the film, combined with its profound themes, would make it a must-watch for cinema lovers.

Lastly, the excitement of a rugby match between Ireland and Scotland in the Six Nations tournament could provide a thrilling sports spectacle for viewers. The drama of the game, with Ireland winning the Triple Crown but ultimately losing the championship to France, would keep audiences on the edge of their seats.

In conclusion, these cinematic and intellectual offerings provide a diverse range of entertainment and educational opportunities for audiences. From the historic significance of ping pong diplomacy to the economic insights of Milton Friedman, each story has the potential to captivate and inspire viewers in unique ways. The Influence of Social Media on Mental Health

Social media has become an integral part of our daily lives, with millions of people around the world using platforms such as Facebook, Instagram, Twitter, and TikTok to connect with others, share their thoughts and experiences, and stay updated on current events. While social media has many benefits, it also has a dark side that can have a significant impact on mental health.

One of the biggest ways in which social media can affect mental health is through comparison. Studies have shown that people often compare themselves to others on social media, leading to feelings of inadequacy, jealousy, and low self-esteem. This constant comparison can have a negative impact on mental health, causing anxiety, depression, and even leading to more serious conditions such as body dysmorphia and eating disorders.

Another way in which social media can affect mental health is through cyberbullying. With the anonymity that social media provides, people are more likely to engage in hurtful behavior online, leading to instances of cyberbullying that can have devastating effects on the mental health of the victim. Cyberbullying can lead to feelings of isolation, anxiety, and depression, and in some cases, can even lead to self-harm or suicide.

Social media also has the potential to exacerbate feelings of loneliness and isolation. While social media allows us to connect with others, studies have shown that excessive use of social media can actually lead to feelings of loneliness and isolation. This is because people often compare their social lives to the seemingly perfect lives of others on social media, leading to feelings of FOMO (fear of missing out) and a sense of disconnection from real-life relationships.

In addition to these negative impacts, social media can also have a detrimental effect on sleep patterns and overall well-being. Studies have shown that the blue light emitted by screens can disrupt our natural sleep patterns, leading to insomnia and other sleep disorders. This lack of quality sleep can have a negative impact on mental health, causing mood swings, irritability, and difficulty concentrating.

Despite these negative impacts, there are ways to mitigate the effects of social media on mental health. It is important to set boundaries for social media use, such as limiting the amount of time spent on social media each day and avoiding checking social media before bed. It is also important to cultivate real-life relationships and connections, as these can help counteract the negative effects of social media on mental health.

In conclusion, while social media has many benefits, it is important to be aware of its potential negative impacts on mental health. By setting boundaries, cultivating real-life relationships, and being mindful of the ways in which social media can affect our mental health, we can ensure that we are using social media in a healthy and positive way.