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.

Kindle, Vancouver, Onions, Government Size and Quizzing

Five articles that I enjoyed reading this week, with a couple of sentences on why I think you might benefit from reading them.

The extent to which Amazon, via the Kindle, tracks your reading habits. Most of this article did not come as a surprise to me, and of course the Kindle and the books on it are as cheap as they are precisely because Amazon makes money by tracking precisely what this article says they do. Personally, I am OK with that – but you might want to read this before you make your own decision.

Could Amazon’s monopoly over the publishing industry change the nature of books themselves? As a result of the economic pressures of the streaming industry, the length of the average song on the Billboard Hot 100 fell from 3 minutes and 50 seconds to 3 minutes and 30 seconds between 2013 and 2018. Will books be the next art form to be altered? Greer said it is possible.

“Never underestimate the power, or willingness, of tech companies to do almost anything to make a little extra money – including shifting the entire way we make music or read and write books,” she said. “They are perfectly willing for art to be collateral damage in their pursuit of profit.”

The equilibrium is being solved for in Vancouver, by observing the lack of an equilibrium in other cities. On Uber, Lyft, British Columbia, and the last mover advantage:

“A decade after Uber got its start, and eight years after Lyft changed the ride-hail model by allowing anyone to use their everyday car to pick up passengers, British Columbia thinks it has nailed how to regulate these companies, which have often slipped into the gray areas between transportation and labor laws. Call it the last mover advantage. Government officials in the province have spent years studying how other places dealt with an influx of ride-hail vehicles—and the sometimes unfortunate effects they had on local transportation systems.”

Vivek Kaul explains one application of the law of unintended consequences in this article in the Livemint, about onions.

When prices of an essential commodity, like onions, go up, state governments can impose stockholding limits. This leads to a situation where wholesalers, distributors and retailers dealing in the essential commodity need to reduce the inventory that they hold in order to meet the requirements of a reduced stock limit. The idea is to curb hoarding, maintain an adequate supply of the essential commodity and, thus, maintain affordable prices. This is where the law of unintended consequences strikes. Instead of ensuring prices of the essential commodity remain affordable, ECA makes it expensive.

Small governments aren’t necessarily great governments, but large governments don’t always do well either. But if you must choose when it comes to government, size does too matter! Via Marginal Revolution.

The plots do not support the hypothesis that small government produces either greater prosperity or greater freedom. (In reading the charts, remember that the SGOV index is constructed so that 0 indicates the largest government and 10 the smallest government.) Instead, smaller government tends to be associated with less prosperity and less freedom. Both relationships are statistically significant, with correlations of 0.43 for prosperity and 0.35 for freedom.

Samanth Subramanian on the joy of quizzing.

To attend these contests, quizzers rearrange the furniture of their lives, budgeting their time away from their families, or ensuring that they don’t travel overseas for work during a quiz weekend. I know one quizzer who switched jobs because his city’s quiz scene wasn’t active enough; I know another who scheduled his wedding to avoid a clash with a quiz. Once, while we were waiting around for a popular annual quiz to begin, a friend remarked that his wife was heavily pregnant; he hoped she wouldn’t go into labour over the next few hours. That would be unfortunate, we agreed.
“No, you don’t understand,” he said. “If my daughter’s born today, that means she’ll have a birthday party on this date every year. Which means I can never come to this quiz again.”