March 2024

LIFE-SAVING:

Scientists lay out how energy transition can prevent millions of deaths (Leo Collis, March 7, 2024, The Cool Down)

As the experts detailed, the mortality burden was greatest for cardiometabolic conditions, accounting for 52% of 8.34 million deaths linked to air pollution per year. Among those issues is ischaemic heart disease — a leading cause of heart attacks.

Meanwhile, stroke and chronic obstructive pulmonary disease were both notable related illnesses, accounting for 16% each.

According to atmospheric consultant Jos Lelieveld from the Max Planck Institute for Chemistry, an estimated 5.13 million excess deaths could be avoided worldwide each year if we phased out fossil fuels.

IF MAN DOESN’T DISAPPOINT YOU…:


The Disappointed Liberal: A recent volume of essays seeks to reconsider, and reclaim, Vilfredo Pareto’s intellectual legacy. : a review of Vilfredo Pareto’s Contributions to Modern Social Theory: A Centennial Appraisal, Christopher Adair-Toteff, ed. (Alberto Mingardi, 3/04/24, City Journal)

Arendt writes of Pareto’s “despair of the working classes,” perhaps not realizing that Pareto sided with them in the struggle against “bourgeois socialism,” which today we might call “crony capitalism.” In fact, in the passage above, Pareto was revealing the disappointment of a true liberal, who understood that liberty was too precious to be entrusted to “liberals,” many of whom pursued their own interests more energetically than the cause of liberty itself. Such people criticize power when it is held by others but deem it perfectly benevolent when they hold it themselves.

In our era of obsessive partisanship, such political skepticism is perhaps hard to understand. Adair-Toteff reminds us that Pareto was “anti-socialist, anti-state intervention, anti-colonialism, anti-militarism, anti-racism, and anti-anti-Semitism.” This series of “antis” may define the man more than any single political label.

…you aren’t paying attention. Likewise, if you don’t forgive us.

WAKEY-WAKEY:

We’ve Been Underestimating Discrimination (Rose Jacobs, February 20, 2024, CBR)

The layered relationship over time between identity and opportunity make up the infrastructure of systemic discrimination, a phenomenon that social scientists have studied since the 1950s and that is increasingly acknowledged across American society, despite resistance from the Right. But in economics, practitioners have traditionally studied only direct discrimination, with projects that have a narrower scope. Take, for example, a study from three Federal Reserve economists—Neil Bhutta, Aurel Hizmo, and Daniel Ringo—that analyzes the extent to which lenders provided differential treatment by race, illegal under US fair-lending laws, in 2018 and 2019. The study establishes a steep decline in racial discrimination in mortgage issuance, as compared with research findings from a study of home loan applications in 1990, which is encouraging. But the researchers in both studies controlled for factors such as applicants’ credit scores and leverage, a standard economic approach but one that drew ridicule from journalist Michael Hobbes, who tweeted, “Yes[,] once you remove the influence of all of the other racist systems, racism doesn’t exist.”

The thinking among economists about how to account for such factors may be changing, however. University of Pennsylvania’s J. Aislinn Bohren, Brown’s Peter Hull, and Chicago Booth’s Alex Imas are among the economists who are proposing new approaches to measuring discrimination that take systemic factors into account. They are looking at the mechanisms by which historical discrimination continues to create unequal outcomes while also acknowledging the limits of economists’ traditional measurement tools and extending the tape measure—rethinking their models so that quantitative data can better illuminate whether the American dream is available to all. The research by Bohren, Hull, and Imas indicates that traditional estimates can undercount discrimination, and not by just a little: they sometimes miss the majority of the total.

TAX WHAT YOU DON’T WANT, NOT WHAT YOU DO:

It’s Time the US Abolished the Income Tax: Bring on the consumption tax. (John H. Cochrane, February 12, 2024, CBR)

Here there is an awkward truth of taxation. Unexpected, “just this once and we’ll never do it again” wealth taxes are economically efficient. The problem of taxation is disincentives. If you announce a wealth tax in the future, people respond by not accumulating wealth. They go on round-the-world private jet tours instead of investing and building companies. But if you tax existing wealth, and nobody knew it was coming, there is no disincentive.

This is, however, one of the most misused propositions in economics. That “just this once and never again” promise isn’t credible: if the government did it once, why not again? And it feels horribly unfair, doesn’t it, grabbing wealth willy-nilly? Unpredictability is not something responsive, rule-of-law democracies can or should do.

In any case, as with corporate income, taxing investment income also makes no sense. You earn money, pay taxes on it, and invest it. If you choose to consume later rather than now, why pay additional tax on it? One of the main don’t-distort-the-economy propositions is that we should give people the full incentive to save by refraining from taxing investment income.

So why do we tax investment income? Again, because once you tax income, you have to start plugging holes. Many people can shift labor income to investment income. If you run a business, don’t take a salary but pay yourself a dividend. If you’re a consultant, incorporate yourself and call it all business income. In the 1980s, even cab drivers incorporated to get lower tax rates.

The income tax is the original sin. Taxing income made no sense on an economic basis. The government only did it because it was easy to measure and grab, at least before people started inventing a century’s worth of clever schemes to redefine “income.” It has led inescapably to more sins, such as the corporate tax and the tax on investment income. And now the repatriation tax on accumulated foreign earnings.

What’s the solution? Well, duh. Tax consumption, not income or wealth. Get the rich down at the Porsche dealer. Leave alone any money reinvested in a company that is employing people and producing products. Now we can do it. And we can then throw out the income tax, corporate tax, and estate tax.

THE WAGES OF IDEOLOGY:

What Is Left? Rebecca Solnit on the Perennial Divisions of the American Left: “It should be a modest request to ask that ‘left’ not mean supporters of authoritarian regimes.” (Rebecca Solnit, February 23, 2024, LitHub)


In late 1936 George Orwell, like so many young idealists from Europe and the USA, went off to fight fascism in Spain. By the spring of 1937 he realized he was in a war with not two but three sides. The USSR was holding back a full Spanish revolution while attacking the socialists and anarchists outside its control.

Facing prison and possible execution himself, not from the fascists, but the Soviet-allied forces, Orwell fled Spain. His immediate commander, Georges Kopp, was imprisoned, and the leader of his militia unit, Andres Nin, was tortured and assassinated by an agent of Stalin’s secret police. Orwell would spend the rest of his life trying to clarify that in his time the left meant both idealists committed to human rights, equality, and justice and supporters of a Stalinism that was the antithesis of all those things.

He wrote after he got back to England:

When I left Barcelona in June the jails were bulging… But the point to notice is that the people who are in prison now are not Fascists but revolutionaries; they are there not because their opinions are too much to the Right, but because they are too much to the Left. And the people responsible for putting them there are… the communists.

Some of the pro-Stalin left believed the sunny propaganda about the USSR and some of them knew better but went with the Stalinist notion that you have to break a few eggs to make an omelet, that the gulags and lies and mass executions were the price of the ticket to some form of utopia that would soon arrive after everything else had been quashed. There are similar rifts in the left of our time, which is both obvious and seldom addressed outright.

All ideologies are ultimately utopian and, therefore, anti-human. Unable to destroy human nature ideologues end by destroying the humans who disappoint them.

WE JUST BICKER OVER THE DESIGNER:

PODCAST: Samuel Wilkinson — What Evolution and Human Nature Imply About the Meaning of Our Existence (Skeptic, 3/04/24)

With respect to our evolution, nature seems to have endowed us with competing dispositions, what Wilkinson calls the dual potential of human nature. We are pulled in different directions: selfishness and altruism, aggression and cooperation, lust and love.

By using principles from a variety of scientific disciplines, Yale Professor Samuel Wilkinson provides a framework for human evolution that reveals an overarching purpose to our existence.

Wilkinson claims that this purpose, at least one of them, is to choose between the good and evil impulses that nature has created within us. Our life is a test. This is a truth, as old as history it seems, that has been espoused by so many of the world’s religions. From a certain framework, Wilkinson believes that these aspects of human nature—including how evolution shaped us—are evidence for the existence of a God, not against it.

NO ONE MISSES OFFICES:

‘Office culture’ as we know it is dead. Workers have other ideas (Lillian Stone, 3/03/24, BBC)


The world of work looks and feels entirely different than just a few years ago – yet many companies are still intent on recreating the office cultures workers left behind as they abandoned their desks in 2020. While these companies are making some gestures to adapt – for instance, redesigning spaces to accommodate new preferences and hybrid-work habits – many are still set on bringing back what lured in workers before the pandemic.


Yet swaths of employees simply aren’t interested in going backward. Instead of trust-falls and cold brew on tap, employees are demanding flexible work, equitable pay and a focus on humanity in the workplace that transcends the perks they sought years earlier.
Workers’ shifting priorities are a natural consequence of the Covid-19 pandemic, says Georgina Fraser, head of human capital for global commercial real-estate firm CBRE. “The pandemic gave us autonomy in a way that we haven’t had previously,” she says. “It gave us the opportunity to choose how we structured our working days.”

…AND NOT EVEN THEN:

Aging Gracefully, Infinity, and the Oceanic Feeling (John Allen Paulos, Mar. 4th, 2024, 3Quarks)

These metaphors of infinity and aging undermine our exaggerated pretensions and mundane obsessions, and may even force us to view ourselves in something like the way we view the dilapidated statue of the boastful pharaoh Ozymandias.

Of course, I’m getting ahead of myself, perhaps like the woman writing her son a very long letter in the middle of which she congratulates him on taking a speed reading course and adds that because of the course he’s probably already finished reading her letter. Life, like the letter, isn’t over until it’s over.

ARBITRARY POWER, THAT IS:

Against power: As a republican, Sophie de Grouchy argued that sympathy, not domination, must be the glue that holds society together (Sandrine Bergèsis, Aeon)


The Letters on Sympathy, Grouchy’s only known, and signed, authored work, were published in 1798 as an appendix to her translations of the final edition of Smith’s book The Theory of Moral Sentiments (1792) and of his essay A Dissertation on the Origins of Languages (1792). These remained the standard translations of Smith’s key works for two centuries. Consequently, Grouchy’s Letters on Sympathy remained in wide circulation too, and were able to influence the growth of political ideas. […]

But for fuller evidence of her more radical views, we need to turn to the newspaper she founded together with Condorcet, Paine and others: Le Républicain. Published in 1791, the journal included anonymous articles by Grouchy and her translations of some of Paine’s work. She became known as a ‘fierce’ republican, and, not surprisingly, as an anti-monarchist she was mocked and caricatured in royalist journals.

In one of these articles, Grouchy attacked monarchy as an economic extravagance, and at the same time showed that it served no purpose beyond a ceremonial one by proposing that the king and his entourage be replaced by automata. Given the cost of the real ‘moving sculptures’ and the difficulty of producing and maintaining them in good working order, the claim that automata would represent a significant cost-saving was a direct attack on royal extravagance. But more than an economic cost, it was the psychological cost of monarchy that Grouchy was most worried about. In the second article (which she may have redrafted from an earlier one by her friend Dumont), Grouchy took on a theme she developed in her Letters on Sympathy: the moral and psychological cost of domination, the kind of domination characteristic of monarchy.

Being dominated is the chief and most pervasive political harm for republicans, because, Grouchy argues, it removes our liberty. In this, republicans differ somewhat from liberals, who see liberty threatened by interference. To be dominated is not necessarily the same thing as being interfered with. Being dominated means being subject to an arbitrary power that has the potential to interfere at any point in time. Grouchy argues that a king who is unconstrained by the law always dominates. Even a benign king who does not wish to interfere with his subjects’ personal lives dominates. Louis XVI insisted that he cared above all about the happiness of his subjects, yet his power over them was unregulated by law, and therefore arbitrary and dominating in this sense. And, given that a king’s attitude may change over the course of his reign, and that he will, one day, be replaced by his heir, his benevolence cannot be relied on to prevent future harms from interference. So, the king’s character does not make a difference to whether we should accept rule by monarchs: they still dominate, no matter how well meaning.