The Return of Protectionism, Writing Better Papers, 100 True Fans, Corona Virus and Classics on the Kindle

Five articles that I enjoyed reading this week, and figure you might as well.

 

Vivek Dehejia raises an uncomfortable question: are we more protectionist now than at any point of time since 1991, and examines some of the possible impacts.

Even the most well-inclined observers can no longer palm-off previous tariff increases by the current government as mere one-offs or aberrations. It is abundantly clear now, unfortunately, that the government of Prime Minister Narendra Modi, in its second innings even more than the first, has abandoned an almost three-decade commitment to trade liberalization, going back to the initial liberalization impetus of 1991. Notably, even governments that did not further liberalize, at the very least refrained from sliding back into protectionism. No more, though—we are now witnessing a more or less explicit embrace of import substitution, which had been thought abandoned in 1991 and beyond.

Useful advice for writing academic papers on development better. Even if you don’t write these yourself, this article might have useful advice about selecting which ones to read.

You win or lose your readers with the introduction of your economics paper. Your title and your abstract should convince people to read your introduction. Research shows that economics papers with more readable introductions get cited more. The introduction is your opportunity to lay out your research question, your empirical strategy, your findings, and why it matters. Succinctly.

Some years ago, Kevin Kelly wrote an article called 1,000 true fans (he does a lot else besides, by the way, and learning more about him is worth your time). Li Jin has written a follow-up piece that I hope rings true in the years to come.

Today, that idea is as salient as ever—but I propose taking it a step further. As the Passion Economy grows, more people are monetizing what they love. The global adoption of social platforms like Facebook and YouTube, the mainstreaming of the influencer model, and the rise of new creator tools has shifted the threshold for success. I believe that creators need to amass only 100 True Fans—not 1,000—paying them $1,000 a year, not $100. Today, creators can effectively make more money off fewer fans.

I have so far resisted linking to or speaking about the Corona virus, primarily because I don’t know enough about the topic to speak responsibly about it. That, I’m sorry to say, hasn’t changed, but reading this article was helpful for me, and hopefully is for you as well!

The next two months will be critical, and it is important for all of us to do everything in our power to minimize viral spread. The simple stuff includes washing hands more frequently, greeting others without handshakes, getting a flu shot (if you haven’t already), and cleaning and disinfecting frequently touched objects. All of these actions are recommended by the CDC. Hopefully, through behavioral changes such as these, we will be able to keep R0 below 1 and prevent this virus from becoming a pandemic.

A random question asked in class this week spurred this search, and maybe you find this list useful yourself? I certainly did! Free classic literature on Kindle.

India: Links for 18th November, 2019

  1. ““In the end it was this access to unlimited reserves of credit, partly through stable flows of land revenues, and partly through collaboration of Indian moneylenders and financiers, that in this period finally gave the Company its edge over their Indian rivals. It was no longer superior European military technology, nor powers of administration that made the difference. It was the ability to mobilize and transfer massive financial resources that enabled the Company to put the largest and best-trained army in the eastern world into the field””
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    An excerpt that itself was excerpted, but too delicious to resist – Alex Tabarrok writes an excellent review of William Dalrymple’s latest book on the East India Company.
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  2. “The problem is that, rather than examining independent indicators of economic activity, the Bretton Woods’ forecasts appear to be based primarily on (a) extrapolation of the official growth figures, and (b) some subjective adjustment based on staff’s assessment of policy changes.”
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    CGDEV on reporting of India’s growth numbers.
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  3. “Is all this working? Economists have talked about the possibility of green shoots of recovery in the second half of this financial year. However, looking at the data for July to September 2019, for now the slowdown is well and truly in place.”
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    Vivek Kaul isn’t impressed with the state of the Indian economy.
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  4. And perhaps with good reason: Somesh Jha on the fall(!) in rural demand.
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    “Consumer spending fell for the first time in more than four decades in 2017-18, primarily driven by slackening rural demand, according to the latest consumption expenditure survey by the National Statistical Office (NSO).”
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  5. Slate Star Codex on 1991, and the difficulty of using statistics. Econ nerds only!
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    “…”we need to study and raise awareness of the history of democratic, comparatively “nice” countries that did nothing worse than overregulate business a bit – and investigate whether even these best-case scenarios still doomed millions of people to live in poverty. My (biased) guess is that careful study will show this to be true.”