Tyler Cowen's three laws – Marginal REVOLUTION

Tyler Cowen’s three lawsby Tyler Cowen on April 15, 2015 at 9:55 am in Economics, Law, Philosophy | Permalink
Many of you have been asking for a canonical statement of what I sometimes refer to as Cowen’s Laws.  Here goes:
1. Cowen’s First Law: There is something wrong with everything (by which I mean there are few decisive or knockdown articles or arguments, and furthermore until you have found the major flaws in an argument, you do not understand it).
2. Cowen’s Second Law: There is a literature on everything.
3. Cowen’s Third Law: All propositions about real interest rates are wrong.
I coined those some time ago, when teaching macroeconomics, yet I remain amazed how often I see blog posts which violate all three laws within the span of a few paragraphs.There is of course a common thread to all three laws, namely you should not have too much confidence in your own judgment.

Source: Tyler Cowen’s three laws – Marginal REVOLUTION

rePost:Tyler Cowen's 12 rules for life – Marginal REVOLUTION

Tyler Cowen’s 12 rules for lifeby Tyler Cowen on January 24, 2018 at 12:55 am in Education, Philosophy, Sports, Uncategorized | Permalink
After reading Jordan Peterson’s 12 rules, a few people asked me what my list would look like.  I would stress that what follows is not a universal or eternally valid account, but rather a few ideas that strike me in the here and now, perhaps as the result of recent conversations.  I suspect the same is true for everyone’s rules lists, so please keep this in perspective.
Here goes:
1. Assume your temperament will always be somewhat childish and impatient, and set your rules accordingly, knowing that you cannot abide by rules for rules sake.  Hope to leverage your impatience toward your longer-run advantage.
2. Study the symbolic systems of art, music, literature. and religion, if only to help yourself better understand alternative points of view in political and intellectual discourse.  Don’t just spend time with the creations you like right away.  Avoid “devalue and dismiss.”
3. When the price goes up, buy less.  Try to understand what the price really is, however, and good luck with that.
4. Marry well.
5. Organize at least some significant portion of your knowledge of the world in terms of place, whether by country, region, or city.  If you do that, virtually every person will be interesting to you, if only because almost everyone has some valuable knowledge of particular places.
6. When shooting the basketball, give it more arc than you think is necessary.  Consistently.
7. Learn how to learn from those who offend you.
8. Cultivate mentors, and be willing to serve as mentors to others.  This never loses its importance.
9. I don’t know.
10. Heed Cowen’s Three Laws.
11. Do not heed Cowen’s Three Laws.
12. Every now and then read or reread Erasmus, Montaigne, Homer, Shakespeare, or Joyce’s Ulysses, so that you do not take any rules too seriously.  The human condition seems to defeat our attempts to order it.

Source: Tyler Cowen’s 12 rules for life – Marginal REVOLUTION

We should focus on building "unaffordable" housing, Scott Sumner | EconLog | Library of Economics and Liberty

Save for DMCI the rest of the condo builders of our country are either high quality and expensive or low quality and expensive or low quality and afforable.
DMCI is in my opinion the only one in the good quality and affordable group.

Many left-wingers start with the false assumption that society needs to build more “affordable housing”. In fact, in any well functioning society the vast majority of the new housing being built would be “unaffordable”, that is, out of the price range of the median income.To see why, consider the nature of economic progress. During the Middle Ages, most people lived in miserable hovels. Today, most people in America live in nice houses and apartments. This transition occurred because the new homes being built tended to be superior to the existing stock of homes, at any given point in time.Moving to higher quality homes is an important part of economic progress. Because one year’s worth of new construction is only about 1% of the existing stock of homes, it’s difficult to rapidly upgrade the quality of our housing stock. But if we are to make any progress at all, it’s essential for new homes to be of much higher quality (and hence more expensive) that the average of existing homes. New houses should be unaffordable to average people.

Source: We should focus on building “unaffordable” housing, Scott Sumner | EconLog | Library of Economics and Liberty

This Is the Most Important Fallacy You’ve Never Heard Of

What mistakes do we make in evaluating our decisions?There’s this word that we use in poker: “resulting.” It’s a really important word. You can think about it as creating too tight a relationship between the quality of the outcome and the quality of the decision. You can’t use outcome quality as a perfect signal of decision quality, not with a small sample size anyway. I mean, certainly, if someone has gotten in 15 car accidents in the last year, I can certainly work backward from the outcome quality to their decision quality. But one accident doesn’t tell me much.

Source: This Is the Most Important Fallacy You’ve Never Heard Of

rePost::Why Do Smart People Do Foolish Things? – Scientific American

The ability to think critically, on the other hand, has been associated with wellness and longevity. Though often confused with intelligence, critical thinking is not intelligence. Critical thinking is a collection of cognitive skills that allow us to think rationally in a goal-orientated fashion, and a disposition to use those skills when appropriate. Critical thinkers are amiable skeptics. They are flexible thinkers who require evidence to support their beliefs and recognize fallacious attempts to persuad

Source: Why Do Smart People Do Foolish Things? – Scientific American

rePost::The Beginner's Guide to Deliberate Practice | James Clear

The Beginner’s Guide to Deliberate Practice By James Clear    |    Continuous Improvement, Deliberate Practice, Self-Improvement In some circles, Ben Hogan is credited with “inventing practice.” Hogan was one of the greatest golfers of the 20th century, an accomplishment he achieved through tireless repetition. He simply loved to practice. Hogan said, “I couldn’t wait to get up in the morning so I could hit balls. I’d be at the practice tee at the crack of dawn, hit balls for a few hours, then take a break

Source: The Beginner’s Guide to Deliberate Practice | James Clear

Making the Jump to Go: A Guide for Java Developers – DZone Java

If you’re a Java developer like me, chances are you’ve heard rumblings of the trendy new language that came out of Google: Go. And if, like me, you’re always looking for ways to code faster and better, you may be asking yourself whether any of your existing applications are good candidates to move to Go. While not every Java application should be ported to Go, in many cases, Go is a more productive development framework than Java. There is, therefore, a great deal of value in understanding what Go can do;

Source: Making the Jump to Go: A Guide for Java Developers – DZone Java

rePost:Why Facts Don’t Change Our Minds | The New Yorker

In the second phase of the study, the deception was revealed. The students were told that the real point of the experiment was to gauge their responses to thinking they were right or wrong. (This, it turned out, was also a deception.) Finally, the students were asked to estimate how many suicide notes they had actually categorized correctly, and how many they thought an average student would get right. At this point, something curious happened. The students in the high-score group said that they thought the

Source: Why Facts Don’t Change Our Minds | The New Yorker