Clearly, big brains and language may be necessary for human beings to cope with a life of technological modernity. Clearly, human beings are very good at social learning, indeed compared with even chimpanzees humans are almost obsessively interested in faithful imitation. But big brains and imitation and language are not themselves the explanation of prosperity … Read more
Why has median income stopped rising in the US? Why is the share of population that is working falling so rapidly? Why are our economy and society are becoming more unequal? A popular explanation for these questions is technological stagnation (not enough inventions that bring progress). But the other explanation is that there is no … Read more
The greatest task before civilization at present is to make machines what they ought to be, the slaves, instead of the masters of men. —Havelock Ellis, 1922 Economic progress comes from constant innovation in which people race with machines. Human and machine collaborate together in a race to produce more, to capture markets, and to … Read more
Robert Solow earned his Nobel Prize for showing that economic growth does not come from people working harder but rather from working smarter. That means using new technologies and new techniques of production to create more value without increasing the labor, capital, and other resources used. Even a few percentage points of faster productivity growth … Read more
Any sufficiently advanced technology is indistinguishable from magic. —Arthur C. Clarke, 1962 We used to think that computers can outperform people only in tasks like arithmetic, where straightforward rules are followed. That was what the book The New Division of Labor argued. The … truck driver is processing a constant stream of [visual, aural, and … Read more
Economic history teaches that when companies grow, earn profits, and buy equipment, they also typically hire workers. But American companies didn’t resume hiring after the Great Recession ended. The volume of layoffs quickly returned to pre-recession levels, so companies stopped shedding workers. But the number of new hires remained severely depressed. Companies brought new machines … Read more
Nassim Nicholas Taleb started his career as a trader before making the move to academia. His favorite hobby is blasting pseudo-intellectuals, psychologists, expert forecasters, and any kind of person he considers an intellectual phony, which is most intellectuals. He prefers taxi drivers, craftsman, entrepreneurs. The former have a voice but contribute nothing of substance, the … Read more
1-Sentence Description of Ultralearning by Scott H. Young. The key to good and efficient writing lies in the intelligent organization of ideas and notes. 3 Key Ideas Directness is one of the critical elements of Ultralearning. By applying directness, you learn the skill you need without wasting any time. Let’s take learning a language as … Read more
1-Sentence Description of A Mind for Numbers by Barbara Oakley The secrets to effectively learning math and science. 3 Key Ideas Two Modes of Thinking: Focused and Diffused. Use the focused mode to grapple with problems in any subject, and when you are done, relax your mind and disengage from the activity. This allows the … Read more
1-Sentence Description of The Case Against Education by Bryan Caplan Despite being immensely popular and immensely lucrative, education is grossly overrated. 3 Key Ideas 1. Education mostly signals traits, rather than building them. Specifically, school signals intelligence, conscientiousness, and conformity, all of which employers want in their workers. The education wage premium is real, but … Read more