2026-04-10 12:53:00
These days South Africa is one of the best places to go to have interesting conversations. Obviously an English-fluent country does have many people following Trump, Islam in Europe, and so on. But you can have so many conversations about quite different topics, topics that are hardly covered in other parts of the world.
Like South Africa. But not only. The southern part of Africa too. People who live there are on the whole quite historically aware, since their history remains so influential on a day-to-day basis. I recall being introduced to one person who is a “Huguenot,” as his ancestors came over with the 100 or so Huguenots who came to South Africa in the 1680s. He is in fact a Huguenot.
Since the Gini coefficient of South Africa is about the same as the Gini coefficient of the world, South Africans are typically thinking about problems that are pretty close to the problems of the world as a whole. That is not usually the case for say Americans or Brits.
Few South Africans will underrate the importance of Africa for the world’s future.
It is easy to get into conversations with people from Zimbabwe, Malawi, Congo, and sometimes Nigeria. There are also readily accessible Jewish and Muslim communities, yet with perspectives different from what you might find elsewhere.
There is plenty of religion, if that is your interest. Plenty of good music too, sometimes on the street. An excellent arts scene, and past Kentridge probably you have not heard of any of the creators. The art too gives you a lot to talk about.
All sorts of tribes and languages, many of which I had never heard of before.
The European parts of the citizenry have some pre-Enlightenment origins and overall do not seem incredibly Woke. Your mileage there may vary, but again it is different from the educated classes in many other parts of the west.
Again for better or worse, but the “trad wife” phenomenon seems quite normal there, they might just use the word “wife.”
In some parts of the country, you can watch gentrification in reverse.
Most of all, South Africans have a finely-tuned sense of contingency. Things for them could go pretty well, or they could go pretty badly. Most people know that, and perhaps that is the greatest wisdom yet? Many of the rest of us try to deny that.
Visiting South Africa makes so many things transparent, or at least less opaque. Go!
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2026-04-10 02:46:54
American science policy is now more important than at perhaps any previous point in history—how science is organized and funded (or not funded) in this country continues to rise in significance.
I have also spoken about the undersupply of people who understand this and are trying to act on it in Washington. Unfortunately the career paths here are neither well-defined nor well-regarded. I would like to help change that.
What we’re looking for:
We are doing this with and thank Renaissance Philanthropy for the support. You can apply through the regular Emergent Ventures portal.
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2026-04-10 00:06:10
1. The “estrangement” from philosophy of economics.
2. Investing in scientific instruments.
3. New book coming on Carlsen vs. Niemann.
4. Houston economy growing at more than ten percent (and that is even without moving forward on bike paths).
The post Thursday assorted links appeared first on Marginal REVOLUTION.
2026-04-09 19:18:11
Imagine I told you that AI was going to create a 40% unemployment rate. Sounds bad, right? Catastrophic even. Now imagine I told you that AI was going to create a 3-day working week. Sounds great, right? Wonderful even. Yet to a first approximation these are the same thing. 60% of people employed and 40% unemployed is the same number of working hours as 100% employed at 60% of the hours.
So even if you think AI is going to have a tremendous effect on work, the difference between catastrophe and wonderland boils down to distribution. It’s not impossible that AI renders some people unemployable, but that proposition is harder to defend than the idea that AI will be broadly productive. AI is a very general purpose technology, one likely to make many people more productive, including many people with fewer skills. Moreover, we have more policy control over the distribution of work than over the pure AI effect on work. Declare an AI dividend and create some more holidays, for example.
Nor is this argument purely theoretical. Between 1870 and today, hours of work in the United States fell by about 40% — from nearly 3,000 hours per year to about 1,800. Hours fells but unemployment did not increase. Moreover, not only did work hours fall, but childhood, retirement, and life expectancy all increased. In fact in 1870, about 30% of a person’s entire life was spent working — people worked, slept, and died. Today it’s closer to 10%. Thus in the past 100+ years or so the amount of work in a person’s lifetime has fallen by about 2/3rds and the amount of leisure, including retirement has increased. We have already sustained a massive increase in leisure. There’s no reason we cannot do it again.
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2026-04-09 14:43:40
The Church of Jesus Christ of Latter-day Saints has grown 66% this century, fueled in part by a record-breaking number of convert baptisms in 2025.
The church had 10,752,986 members at the end of 1999. The church had 17,887,212 at the end of 2025, according to an annual statistical report released Saturday during the church’s 196th Annual General Conference.
Furthermore the growth is coming in every part of the world (as a qualifier I am not sure what the outflow is). Here is the full article, via Tyler Ransom.
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2026-04-09 12:45:38
Important work is just flowing these days, and much of it (of course) concerns AI:
We study whether AI methods applied to large-scale portfolio holdings data can improve financial regulation. We build a state-of-the-art, graph-based deep learning model tailored to security-level data on the holdings of financial intermediaries. The architecture incorporates economic priors and learns latent representations of both assets and investors from the network structure of portfolio positions. Applied to the universe of non-bank financial intermediaries, covering nearly $40 trillion in wealth, the model substantially outperforms existing approaches in out-of-sample forecasts of intermediary trading behavior, including in crisis episodes. The model has more than ten times the explanatory power for the cross-sectional variation in asset returns during stress events compared to traditional approaches, and it outperforms existing systemic risk metrics at the institution level. Its learned representations show that the holdings network encodes rich, economically interpretable information about firesale vulnerability. The architecture is fully inductive, producing informative estimates even when entire asset classes or investors are withheld from training. We embed our empirical approach into a macroprudential optimal policy framework to formalize why these objects matter for policy and welfare. We show that even in an equilibrium environment subject to the Lucas critique, the predictive information from the model improves welfare by sharpening the cross-sectional targeting of policy interventions, and we demonstrate a complementarity between prediction and structural knowledge.
That is a new paper by Christopher Clayton and Antonio Coppola, of Yale and Stanford respectively.
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