Something to Consider

Something to Consider discusses the interplay between economics, history, and various societal issues. It critiques theories, explores institutional impacts, evaluates economic policies, and investigates public behaviors. Recurring themes include economic development, decision-making, the role of institutions, and societal progress.

Economics History Public Policy Social Issues Human Behavior Institutional Analysis Healthcare Innovation

The hottest Substack posts of Something to Consider

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The Benefits of Bombing

5 HN points • 09 Aug 24
💾 History War Economics Politics Reconstruction International relations
  1. More bombing during the war led to increased aid for reconstruction in affected areas. This means the damage done was tied directly to the support that helped rebuild.
  2. Reconstruction funding improved agricultural production by helping transport crops effectively. This shows that investment in infrastructure can really boost local economies.
  3. Displaced workers from agriculture moved into industrial jobs due to the new infrastructure, suggesting that rebuilding after destruction can create new job opportunities.

HOAs are really good, actually

119 implied HN points • 22 Jul 23
🇺🇸 U.S. Politics Government Democracy Libertarianism Local Politics Property Rights
  1. Homeowners' Associations (HOAs) can be better than local governments because they allow residents to agree on rules that everyone follows, promoting cooperation. This means people can manage shared resources and maintain property values together.
  2. Many people choose to live in HOAs because they like the value and amenities these communities offer. Studies show that residents are willing to pay more for homes in these organized neighborhoods.
  3. Critics of HOAs often overlook that local governments can have similar restrictions, and people have a choice in whether to move into an HOA. This shows that voluntary agreements can work well for communities.

Why We Rent

19 implied HN points • 18 Apr 24
💼 Business Real Estate Economics Investment Housing Market Dynamics
  1. Renting offers flexibility, letting people move easily without the stress of selling a house, but this can be managed by real estate agents too. It's not just about wanting to change homes quickly.
  2. People often rent because of capital constraints or fear of debt, but owning a home can be stable and safer in the long run. The real financial barriers might not be as strong as they seem.
  3. Renting can help solve problems related to property management, as landlords often specialize in repairs and maintenance. This can create a better living environment for tenants without the hassle of homeownership.

On Traffic Fines

139 implied HN points • 26 Feb 23
🇺🇸 U.S. Politics Public Safety Government funding Social justice
  1. Speeding is harmful because it puts others at risk, so fines are necessary to discourage it. Fines should be proportional to the danger caused, but not excessively punitive to allow for justified speeding in some situations.
  2. Traffic fines should not depend on a driver's income. A speeding rich driver harms others just as much as a poor driver, and fines should reflect that without deterring all speeding, especially in cases where it's efficient.
  3. Instead of relying on fines for profit, speeding should be treated like a toll based on the risk caused. This way, the focus is on protecting others rather than just generating revenue.

The Case for Reparations

19 implied HN points • 12 Apr 24
🇺🇸 U.S. Politics Reparations Welfare Income Inequality Economic Justice
  1. Redistribution of wealth based on race can be more effective than just helping the poor. Doing this focuses on addressing specific historical inequalities.
  2. It's better to provide support based on group averages rather than individual income, since people may change their behavior to qualify for help. Group averages don't change as easily.
  3. Using a DNA test could help define eligibility for reparations, which could also assist in solving some unsolved crimes.
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Policing as a Toxic Industrial Labor Relation

39 implied HN points • 03 Sep 23
🇺🇸 U.S. Politics Policing Public Safety Law enforcement Crime Rates
  1. After protests in 2020, many police officers are doing less to fight crime. This is not because there are fewer crimes, but because officers now feel less support.
  2. Trust is really important in policing. When officers believe their efforts won't be appreciated, they may only do the bare minimum required.
  3. To improve policing, city leaders need to show they support the police and encourage them to be more active. This could help reduce crime and increase safety.

The Roman Market Economy

39 implied HN points • 17 Feb 23
💾 History Ancient Rome Economics Trade Political Systems
  1. The Roman economy functioned like a market economy, thriving on trade during the Pax Romana, which helped improve living standards. Markets existed long ago, and the flow of goods among regions shows how interconnected they were.
  2. Data on prices and trade from ancient times can be hard to find, but clever techniques can help make sense of it. This shows that even with limited information, we can understand how economies worked.
  3. Economic issues like inflation and political stability often influenced each other during the Roman Empire. Events like plagues affected both money value and social order, showing that economic and historical factors are linked.

Robert Horne, the 'New Discipline', and a Democratic Revolution

19 implied HN points • 15 Jun 23
💾 History Political History Religious history Cultural History Social history Historical Figures
  1. Robert Horne was a controversial figure who argued a lot, yet he was very knowledgeable. His time as a pastor in Frankfort sparked a major change in how church authority was viewed.
  2. The conflict in the Frankfort congregation led to a significant shift where the church members gained power over their pastor. This change emphasized that the church community had a say in leadership decisions.
  3. This shift in church governance is seen as a step towards democratic practices. It influenced how churches functioned later and even laid groundwork for democracy in places like New England.

My Vote is for Sale

59 implied HN points • 17 Feb 22
🇺🇸 U.S. Politics Voting behavior Political Advertising
  1. Your individual vote is unlikely to change an election outcome due to the sheer number of voters. Statistically, being the decisive vote is extremely rare, so it can feel like our choices don't matter much.
  2. Political ads cost a lot of money, but they don't significantly influence voter behavior. Most people won’t change their vote just because of an advertisement.
  3. Instead of spending billions on ads, let's consider direct payments to voters. It could make campaigns more fun and engage people in a different way.

Book Review: The Rise and Fall of Ancient Egypt

19 implied HN points • 08 Feb 23
💾 History Ancient Civilizations Cultural Evolution Political History Historical Narratives
  1. The book mainly focuses on the history of Egypt's kings rather than the lives of everyday people. Most of what we know about ancient Egyptians comes from royal artifacts and structures, so there’s limited information about the general population.
  2. It’s a fun and easy read, full of fascinating facts that correct common misconceptions about Egyptian history. Readers learn a lot about important figures and events without feeling bogged down by overly complex details.
  3. The study highlights how and why states form and fall apart. Ancient Egypt's stability relied on agricultural wealth and a balance of power, while neglect or too much strength in leadership could lead to its eventual decline.

Information as Public Good

39 implied HN points • 13 Feb 22
📖 Philosophy Ethics Society Politics Information Law
  1. Information is a public good, meaning it spreads easily and people who discover new facts often don't get rewarded for their efforts. This can lead to less investment in finding important information.
  2. One idea to fix this is to allow people to be paid for revealing bad information, even if it sounds like blackmail. By doing this, we might prevent bad behavior from companies or individuals because they would pay to keep wrongdoings secret.
  3. Legalizing this kind of 'blackmail' could actually help society by making people more open about wrongdoing and allowing for better accountability. It could also adjust how we punish people based on what's really important to the public.

My Answers for the paradigm fellowship

0 implied HN points • 07 Aug 24
🔮 Crypto Blockchain Smart Contracts Ethereum Decentralization Economics
  1. The game with Ethereum bids will likely end with the biggest firm winning because they can raise the most capital. Smaller players may drop out when they see they can’t compete.
  2. Censorship doesn't change the game much because firms that want to win will pay a lot. They’ll still plan based on their chances of success.
  3. Smart contracts could change the game by allowing players to offer rewards to others for letting empty blocks go. This might make it harder for anyone to win the bidding eventually.

We Should Test Programs

0 implied HN points • 10 Jul 22
🇺🇸 U.S. Politics Government Policy Social programs Accountability Testing
  1. We often assume government programs work well without checking. It’s important to test these programs to see if they truly have the intended benefits.
  2. Many times, the results of these tests show that some programs can even make situations worse. For example, some early education programs that seemed good have led to poorer outcomes for kids by third grade.
  3. We should consider making laws that require testing before funding new programs. This way, we can get rid of ones that don't work and focus on what really helps.

Torture and Plea Bargaining

0 implied HN points • 12 Feb 23
🇺🇸 U.S. Politics Criminal Justice Legal system Reform Human Rights Historical Analysis
  1. Plea bargaining and torture have similar roots in needing confessions, showing how justice systems can push for admissions under pressure. This means that, like in medieval times, the system isn't always fair or just.
  2. In the past, strict proof requirements meant torture was sometimes used to force confessions. Today, the heavy use of plea bargains can feel like a modern form of this pressure.
  3. The author suggests reforms to the justice system, such as adopting practices from Germany. This would help ensure more fair trials and protect the rights of individuals better.

Operas I've heard, ranked

0 implied HN points • 21 Jun 24
🎭️ Culture Music Performing Arts Opera Art Literature
  1. The ranking highlights that 'Die Meistersinger' is seen as a masterpiece, especially for its overture and Act III.
  2. Some lesser-known operas, like 'Juha' by Merikanto, are praised for their originality and uniqueness in style.
  3. Many of the operas mentioned have specific acts or moments that stand out significantly, showcasing the importance of individual highlights in a complete work.

Capital Gains are Labor Income

0 implied HN points • 27 Apr 22
💰 Finance Taxation Investment Income Economic Policy
  1. Capital gains should be taxed like regular income because all investments require effort and analysis. It's unfair to give special tax breaks to those who already have wealth.
  2. Investing isn't just sitting back and earning money; it involves making decisions and taking risks. Therefore, it shouldn’t be treated so differently from labor income in tax policy.
  3. While there are suggestions to change how investment taxes work, confusing definitions of investments make it complicated. A simpler solution would be to treat all earnings as labor income and reduce advantages for the wealthy.

Employer-Sponsored Insurance

0 implied HN points • 14 Apr 22
🇺🇸 U.S. Politics Healthcare policy Taxation Labor Market Economic Inequality
  1. Employer-sponsored insurance often makes healthcare more expensive and less efficient. It may force people to consume more healthcare than they actually want or need.
  2. The tax benefits for employer-sponsored insurance mostly help higher-income individuals. This system creates a financial burden for the government and doesn't fairly serve those who need help the most.
  3. Employer-sponsored insurance can trap people in their jobs, making it hard for them to retire or pursue better opportunities because they fear losing their health coverage.

Zambia: What really is neoliberalism anyway?

0 implied HN points • 01 Apr 22
🇺🇸 U.S. Politics Neoliberalism Corruption Economic Policy Privatization
  1. Zambia's economy heavily relies on copper exports, which makes it vulnerable to price fluctuations. If copper prices rise, the economy does better, but if they fall, it struggles.
  2. The country's government is heavily involved in businesses, which leads to corruption and unfair practices in privatization. This has hurt the working class and limited overall economic growth.
  3. To improve Zambia's economy, reforms should focus on reducing corruption and managing state assets better before jumping into privatization. Just selling off state enterprises without good governance doesn't benefit the country.

A Critique of Bryan Caplan

0 implied HN points • 08 Mar 22
🇺🇸 U.S. Politics Policy Debate Political theory Public Opinion Effective Altruism Social Issues
  1. It's important to focus on convincing people about policies rather than creating divisions. If the goal is to help the poor, we shouldn't insult those who disagree with us.
  2. Critiquing others can be done without undermining the main message. Avoiding unnecessary negative comments can help keep the conversation productive.
  3. Sharing ideas should be done in a way that allows for open discussion, especially with those who may disagree. This helps everyone consider different viewpoints.

The Problem with the Persistence Literature

0 implied HN points • 14 Mar 23
💾 History Economic History Historical Events Research Methodology
  1. Many studies look at how past events affect the present but often don't help us understand future outcomes. It's easy to tell stories about what happened before, but challenging to predict how current events will shape the future.
  2. Some research does use past events to study how systems and institutions work, which is more useful. These studies can help us understand why some countries thrive while others do not.
  3. Not all papers in the persistence literature are valuable. If they only focus on how past events influence today without making any connections to the future, they might not be worth our time.

A Brief Primer on Auction Theory

0 implied HN points • 13 Jun 24
💼 Business Economics Marketing Auctions Valuation Market design
  1. There are different types of auctions like first price, second price, and ascending auctions. Each works a bit differently, but they all aim to find out who values an item the most.
  2. In certain situations, second price auctions can encourage honest bidding because bidders don't need to worry about overbidding. This can lead to better outcomes for both the seller and the buyers.
  3. Assumptions about what buyers and sellers know can change what type of auction works best. If buyers are unsure about their own values, for example, an ascending auction may be more beneficial.

Peter Diamond’s Paradoxes

0 implied HN points • 30 Jul 24
💼 Business Economics Models Market Dynamics Behavioral Economics Price theory
  1. Peter Diamond shows that unrealistic economic models can help us understand real-world issues. By making certain assumptions, we can see how they lead to surprising outcomes.
  2. In his models, costs of searching for products can lead to prices behaving differently than expected. This means even in competitive markets, prices can be high if searching for the best deal is costly.
  3. Diamond’s examples suggest that different economic situations can lead to multiple levels of unemployment. People's expectations play a big role in how prices and unemployment behave in the market.

Abortion Off-sets

0 implied HN points • 07 Aug 24
🇺🇸 U.S. Politics Abortion Government Policy Welfare Externalities Taxation
  1. Having more children could lead to more ideas and innovations that benefit society. More people might help drive technological progress.
  2. Abortion can have negative effects on society because it reduces the number of potential new contributions from unborn children. This creates a cost to society, even if the immediate benefits are for the mother.
  3. Just like with pollution, we might consider taxing abortions to offset their societal costs. This could help fund programs that support more births and balance the effects of abortions.

Insanity for World Peace

0 implied HN points • 23 Apr 22
🌍 World Politics Nuclear policy Conflict resolution International relations Peace Studies Geopolitics
  1. Nuclear weapons can deter attacks because countries fear the consequences of using them. However, since everyone has these weapons now, they don't actually stop wars from happening.
  2. The idea is to act unpredictably to keep other countries from trying to invade. If we look crazy enough to use nuclear weapons, they might think twice before provoking us.
  3. There are huge risks to pretending to be that dangerous, including potentially starting a nuclear war ourselves. It raises questions about our morals and whether the ends justify the means.

Infrastructure Costs in America

0 implied HN points • 18 May 22
🇺🇸 U.S. Politics Infrastructure Government Economics Public Policy Transportation
  1. Infrastructure costs in America are really high compared to other countries. This means we can't build as much as we need to because it's too expensive.
  2. Contracting practices lead to expensive overruns and dishonest bids. Many contractors misrepresent costs, leading to hidden fees and renegotiations that drive prices up.
  3. Local influences and regulations increase project costs even more. Communities often demand more expensive construction methods and designs, creating unnecessary expenses that tax dollars end up covering.

Problems of Majority Voting

0 implied HN points • 03 Feb 23
🇺🇸 U.S. Politics Voting Systems Political parties Legislative Process Government Structure Elections
  1. Majority voting can create problems because it doesn't always consider everyone's true preferences. If people can't trade votes or favors, decisions may not reflect what the community really wants.
  2. Political parties are important for maintaining stable voting majorities. If parties can't control their members, it leads to chaos and ineffective governance, as they have to make too many compromises.
  3. To improve the voting process, we could consider new systems like jungle primaries or ranked choice voting. These changes might help ensure better candidate choices and encourage cooperation among party members.

Retalings

0 implied HN points • 15 Jun 24
📚 Literature Fiction Poetry Narrative Prose
  1. The story creatively blends elements of sports and classic literature, highlighting the struggles of the character James Finnican as a football player.
  2. Finnican faces harsh criticism and scrutiny from the media after a significant mistake on the field, reflecting the pressures athletes often endure.
  3. The tale emphasizes themes of failure, reputation, and the impact of public opinion, as Finnican's life and identity are largely shaped by his performance and the reactions to it.

On Innovation

0 implied HN points • 16 Jun 24
💼 Business Innovation Economics Risk management Government Policy Corporate strategy
  1. Innovating is risky, and many people are afraid to invest in new ideas because the outcomes are uncertain. Government help might be needed to encourage more people to take these risks.
  2. One idea for helping innovation is to give tax breaks to companies that offer stock options to their employees. This could motivate workers to take more risks with their projects.
  3. There are challenges with making this system fair and preventing abuse, but finding ways to promote innovation is crucial because it benefits everyone in society.

The Social Discount Rate is Plausibly Negative

0 implied HN points • 29 Jul 24
📖 Philosophy Ethics Economics Social theory Moral Philosophy
  1. The social discount rate helps us understand how we value our current consumption compared to future consumption. A higher discount rate means we prefer to consume now rather than later.
  2. There are different views on the social discount rate. Some might prioritize current needs and want a high rate, while others might value future generations equally, leading to a zero rate.
  3. In decision-making about resources and moral issues, we should consider hypothetical people, as well as current people's needs. This broader perspective can change how we approach important social issues.

The Price of Delay

0 implied HN points • 02 Aug 24
🇺🇸 U.S. Politics Housing policy Regulation Economics Urban Development Public Policy
  1. Housing regulations slow down construction and make planning harder for developers. This uncertainty discourages them from investing in new buildings.
  2. A new study shows if we reduce approval wait times, it could lead to significantly more housing being built. However, there are questions about how realistic these estimates are.
  3. Clearer regulations could make a big difference in housing supply. Countries with more straightforward building laws tend to have better housing outcomes.

We really need better data

0 implied HN points • 06 Aug 24
🚌 Education Data Analysis Educational Policy Statistical Methods
  1. We need better data to answer important questions about education and healthcare. Good data helps us understand what really works and what doesn't.
  2. There are big gaps in our knowledge, especially in poorer countries. Without accurate information, we can't properly assess living standards or make informed decisions.
  3. Collecting reliable data should be a priority. New technologies, like satellite data, hold promise for improving how we gather and analyze information.