Etc: Links for 19th July, 2019

  1. “Almost half of all U.S. rice comes from Arkansas. When a rice farmer who was also a state legislator bought some and tasted it, he decided the label had to be banned. So, during March, Arkansas legislators prohibited the cauliflower rice name from all food labels in the state. Saying that the word rice has to refer to actual rice, the law included a $1000 fine for a “mislabeled” product.”
    ..
    ..
    What’s in a name? A rice by any other name, it turns out (forgive the pun), ain’t quite the same thing, legally speaking.
    ..
    ..
  2. ““By lowering the barrier to initiate communication, the hidden side effect is that Slack has the quiet capacity to exponentially increase communication overhead. Resulting in much more voluminous, lower quality communication.”In other words, talk is cheap and we’re spending like crazy.”
    ..
    ..
    The problem with all these awesome tools that help us communicate better is that they help us communicate better. Folks with GIPE id’s… tried out Hangout Chat on your phone just yet?
    ..
    ..
  3. “I kind of have a perfectionist type of mentality. Things kind of irritate me and get more and more irritating over time and it was just really confirmed to me that I couldn’t make it better. So I threw out this problem to the group: “Wouldn’t it be great if customers just gave us a chunk of change at the beginning of the year and we calculated zero for their shipping charges the rest of that year?””
    ..
    ..
    The most popular form of the sunk cost fallacy in the world: it’s origins explained. If you’re confused about how this is about the sunk cost fallacy, ask yourself this: how often have you checked the Flipkart app after you became a Prime member?
    ..
    ..
  4. “Influencers won’t receive a cut of the sales their posts generate. They will, however, have access to a shared analytics dashboard with robust metrics that the tagged brand can also see. Previously, influencers relied on screenshots and other imperfect methods to communicate engagement numbers with brands, so tying their influence directly to sales was nearly impossible. Having a more streamlined framework and detailed analytics will be incredibly valuable for influencers. “It gives you more leverage when you’re negotiating rates,” says Aimee Song, a fashion influencer.”
    ..
    ..
    The evolving economics of Instagram influencers. What do you think will happen next?
    ..
    ..
  5. “In his time around Italy, especially in Venice, Ghosh was struck by the fact that the language he heard the most after Italian, is Bengali. He explains, “The people who literally keep Venice going are Bengalis. They are the ones making the pizzas, the hotel beds. They play the accordion even. Bengalis have absolutely become the working class. It is such a striking thing that people don’t seem to notice. The tourists don’t notice. Even the Indians who go there, don’t seem to notice. Venice is like a gigantic stage set. So people only notice the setting. They don’t notice who keeps it going; it is literally the Bengalis.””
    ..
    ..
    Just in case you have not read any of Amitav Ghosh’s works, this might get you interested in them. If you are looking for a good place to start, I’d suggest The Hungry Tide.
Advertisements

EC101: Links for 18th July, 2019

Some news: the Gokhale Institute of Politics and Economics (where I work) recently started an undergraduate program in economics. I can’t tell you how excited I am at the opportunity to teach young people economics. Hopefully – although I cannot commit to this yet – I will be able to keep you updated with what we’re trying that’s different, and what I learn through the process of teaching in this program.

In honor of this first batch of students, though, here are five links from two people who have inspired me, and countless others, to both learn and teach economics. Marginal Revolution: thank you.

  1. What should I read to learn economics?
    ..
    ..
  2. What’s the shortest description of economics as a field of study?
    ..
    ..
  3. How soon is too soon to start teaching economics?
    ..
    ..
  4. Can skating teach you about economics? Well, uh, it’s complicated
    ..
    ..
  5. The most important lesson in economics I have ever learnt, and can ever teach.

 

As I said, I hope to update this blog regularly with lessons I have learnt, of many sorts. And fingers crossed, I will be able to do so. Here is the syllabus, in case you are interested.  In the meantime, if you have suggestions, comments, feedback – please do let me know.

Thanks.

ROW: Links for 17th July, 2019

  1. “A politically divisive debate continues to rage over U.S. President Donald Trump’s push to add a citizenship or nationality question to the U.S. census.That same question has been part of Canada’s long-form census for over a century without a ripple, although it’s not part of the short-form questionnaire.”
    ..
    ..
    Via MR, an article that helps you learn that the citizenship question has been around for a while now.
    ..
    ..
  2. “Not asking about citizenship seems to signify an attitude toward immigrants something like this: Get them in and across the border, their status may be mixed and their existence may be furtive, and let’s not talk too openly about what is going on, and later we will try to get all of them citizenship. Given the current disagreement between the two parties on immigration questions, that may well be the only way of getting more immigrants into the U.S., which I hold to be a desirable goal. But that is a dangerous choice of political turf, and it may not help the pro-immigration cause in the longer run.”
    ..
    ..
    And here’s why Tyler Cowen linked to the piece we added above in the first place.
    ..
    ..
  3. “The Indian Rupee will now be accepted for transaction at all airports in Dubai, according to a leading newspaper in the United Arab Emirates.The acceptance of Indian currency is good news for tourists from that country as earlier they lost a sizeable amount due to exchange rates, sources said.”
    ..
    ..
    On the growing importance of India in the global scheme of things…
    ..
    ..
  4. “By demanding that schools provide opportunities for young girls to play sports and mandating that universities provide equal scholarship funding for women, title IX created opportunity and incentive for girls to play sports. Suddenly, not only were energetic, athletic girls given the same opportunities to play as the boys were, but they also had the opportunity for their sporting talent to fund their educations through scholarships.”
    ..
    ..
    Policies, politics, Title IX and the recently concluded World Cup.
    ..
    ..
  5. “Yan said the data shows that housing prices have “decoupled” from income, and are instead driven by access to capital – giving investors a clear advantage over average Canadians. “It’s not about supply or demand any more,” said Yan. “It’s: who are we building for?””
    ..
    ..
    Circling back to Canada, this time about housing and its excesses. This has a familiar ring to it…

Tech: Links for 16th July, 2019

  1. “On July 3, I challenged readers of my Big Internet Math-Off pitch to try to find the way to divide 24 muffins among 25 people that makes the smallest piece as large as possible. ”
    ..
    ..
    Click on this link to get a sense of a truly interesting math problem, and how to think about them.
    ..
    ..
  2. “Sitting in a hotel lobby in Tangier, Morocco, Charity Wayua laughs as she recounts her journey to the city for a conference on technology and innovation. After starting her trip in Nairobi, Kenya, where she leads one of IBM’s two research centers in Africa, she had to fly past her destination for a layover in Dubai, double back to Casablanca, and then take a three-and-a-half-hour drive to Tangier. What would have been a seven- to eight-hour direct flight was instead a nearly 24-hour odyssey. This is not unusual, she says.”
    ..
    ..
    An interesting set of links contained in this link, which speaks about how AI is being used in Africa – and you also get a sense about the opportunities and limitations in Africa.
    ..
    ..
  3. “Then there’s Matthew Porter. He requires only a camera, model cars, and a bit of Photoshop to send muscle cars flying in his new book, The Heights. It’s a resourceful, low-tech homage to some of the most iconic, memorable stunts in the car-chase genre. “There’s just nothing more visceral than a car in the air,” he says. “It’s aspirational and romantic.””
    ..
    ..
    These kind of tech articles are the most fun to read. Tinkering around can yield surprisingly good (and fun!) results.
    ..
    ..
  4. “Obviously, then, what is needed is not only people with a good background in a particular field, but also people capable of making a connection between item 1 and item 2 which might not ordinarily seem connected.”
    ..
    ..
    That is from a lovely essay by Isaac Asimov on creativity.
    ..
    ..
  5. “A group of researchers have now used this technique to munch through 3.3 million scientific abstracts published between 1922 and 2018 in journals that would likely contain materials science research. The resulting word relationships captured fundamental knowledge within the field, including the structure of the periodic table and the way chemicals’ structures relate to their properties. The paper was published in Nature last week.”
    ..
    ..
    A very short, but no less delightful read on some of the more mind boggling applications of AI.

India: Links for 15th July, 2019

Five articles that help you understand different aspects of water in India.

  1. “Asia’s water resources are largely transnational, making inter-country cooperation and collaboration essential. Yet the vast majority of the 57 transnational river basins in continental Asia have no water-sharing arrangement or any other cooperative mechanism. This troubling reality has to be seen in the context of the strained political relations in several Asian sub-regions.”
    ..
    ..
    First, the big picture. This article helps you understand India’s issues with water from a transnational, Asian perspective. The author of this book, by the way, has written an entire book about water and how it might (in his view, probably will) lead to conflict in the region. You might think, by the way, that the article isn’t about India – oh, but it is.
    ..
    ..
  2. “The much-awaited train transporting water from Vellore to Chennai was flagged off on Friday morning from Jolarpet station. The water, transported in 50 bogie wagons, is expected to reach the city at around 2 p.m.A senior official of the Southern Railway said the water wagon would by arriving at Villivakkam where State Ministers would be present to receive the train.”
    ..
    ..
    Reading this article prompted me to compile today’s list. There really isn’t that much more to say!
    ..
    ..
  3. “So-called virtual water exports – the molecules of H20 embedded in exported goods, alongside those rendered unusable by the production of those goods – amount to a net 95.4 billion cubic meters a year, according to data collected by the Water Footprint Network, a group that encourages thriftier usage. This makes India a bigger exporter of water than far better-endowed countries such as Brazil, Russia, the U.S. and Canada, and represents nearly four times the 25 billion cubic meters consumed by India’s households and industrial enterprises.”
    ..
    ..
    Not pricing water, as Nitin Pai spoke about in last week’s collection, is a really, really bad idea. This article explains some of the implications. Incentives matter!
    ..
    ..
  4. “Based on estimates from the Ministry of Drinking Water and Sanitation in 2017, provision of piped drinking water for all households required close to Rs. 500,000 crores. Even if states are expected to put in around half of what is required, the per annum allocation requirement for a 4-year period will be over 60,000 crores, to cover hardware, human resources, water quality infrastructure, operations and maintenance costs, citizen’s engagement, and special arrangements for quality affected as well as other marginalised populations, according to Raman.”
    ..
    ..
    So what is the government planning on doing about this?
    ..
    ..
  5. “RWH can be done in homes, apartments, societies, schools, institutions, commercial premises and any other space as long as there is a catchment area in the form of a roof or open space to capture the rain.Domestic rainwater harvesting is a relatively simpler affair, where even a rain barrel can serve as a storage unit for rooftop RWH. Individual homes have successfully implemented this easy and eco-friendly method of augmenting household-level water availability. Farmers also have implemented RWH to transform a barren piece of land into a self sustainable, lush green farm.”
    ..
    ..
    OK… so what can I, as an indivdual do about it?

Video for 14th July, 2019

Tweets for 13th July, 2019