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Blog of Tyler Cowen and Alex Tabarrok, both of whom teach at George Mason University.
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My NPR debate on whether science is too risk-averse

2026-05-02 01:54:59

This coming Tuesday at Johns Hopkins University in Baltimore, here is the event information, with three others as well.  With debate partner Brandon Ogbunu I will be arguing the “yes” side, science is too risk-averse.  Self-recommended!

Here is the Open to Debate Substack.

The post My NPR debate on whether science is too risk-averse appeared first on Marginal REVOLUTION.

Ryan Avent’s new book *In Good Faith*

2026-05-01 17:35:17

The subtitle is How the Nature of Belief Shapes the Fate of Societies.  Here is Ryan doing a podcast with Brink Lindsey.  As Brink writes:

All of the blessings of modernity, Ryan Avent argues in a fascinating new book, rest on faith. It is our faith in others, our ability to trust strangers we will never meet, that makes possible the large-scale cooperation that has given us science, modern economic growth, and liberal democracy. But if everything depends on our ability to weave and maintain particular webs of complex meaning, what happens when we allow those webs to weaken and fray? In his book In Good Faith, Ryan contends that the dysfunctions and discontents plaguing 21st century democracies reflect such underlying neglect.

I am pleased to see “thought books,” as one might call them, headed in this direction and I was happy to blurb Ryan’s latest effort.

The post Ryan Avent’s new book *In Good Faith* appeared first on Marginal REVOLUTION.

New results on AI mental health therapists

2026-05-01 15:30:42

AI-powered mental health apps have attracted growing interest as a low-cost way to expand care. Yet questions remain about their effectiveness, safety, and whether they may crowd out psychotherapy. We evaluate one such app in a randomized controlled trial among 1,964 Mexican women with mild to severe psychological distress. Over six months, app access improved mental health by 0.3 standard deviations with no evidence of harm, improved sleep quality, increased healthful behaviors, and reduced missed work, yielding considerably larger benefits than costs. Treated participants were also more likely to seek traditional psychotherapy, but this increase does not explain most of the mental health gains. App use was high in the first month but then declined, as is common in digital interventions. Despite this drop in use, treatment effects persisted. Participants continued to implement practices promoted by the app, suggesting that even short-term engagement can produce durable improvements through sustained behavioral change.

That is from a new paper by Manuela Angelucci, Raissa Fabregas, and Antonia Vazquez.  Those are some pretty strong results for a cheap intervention, let us hope they hold up.  Via John Holbein.

The post New results on AI mental health therapists appeared first on Marginal REVOLUTION.

Do Market Reforms Cause Growth?

2026-05-01 13:04:16

Do market-oriented reforms cause economic growth? This paper revisits this question using a cross-country panel of reform episodes identified from various changes in well-known economic freedom and structural reform indices. We exploit the timing of reforms using distributed-lag and event-study frameworks that trace the dynamic response of per-capita GDP. We find little evidence of immediate growth gains and some short-run adjustment costs following reform. However, growth rises gradually and persistently over time, with economically meaningful effects emerging after several years. These patterns are robust across alternative measures of reform and specifications. The results reconcile conflicting findings in the literature by showing that market reforms generate long-run growth gains despite short-run disruptions. Overall, the evidence supports the view that institutional liberalization operates through slow-moving channels that accumulate into sustained improvements in economic performance.

That is from a recent paper by Jon Hartley and Brian Wheaton.

The post Do Market Reforms Cause Growth? appeared first on Marginal REVOLUTION.

Thursday assorted links

2026-05-01 02:07:39

1. “Olympiaders were 1500x more likely to be billionaires and 4000x more likely to be unicorn founders than the average person!

2. An SRO approaching to regulating AI.

3. Dwarkesh: “We don’t talk enough about how any state or group which is harvesting encrypted packets right now will be able to read those contents once quantum computers arrive. There’s a huge espionage and transparency overhang on any information that is currently “secret” and hasn’t been encrypted using post-quantum cryptography.”

4. Craig Venter, RIP.  Here is the NYT obituary.

5. What happened to Haiti?

6. With the UAE’s departure, OPEC will become much more an instrument of Iranian power (FT).  But also weaker.

The post Thursday assorted links appeared first on Marginal REVOLUTION.