How The Economic Machine Works by Ray Dalio actually makes a case against austerity and for redistribution, but also for money printing (and, arguably, for bailouts), while stressing the need to keep making productivity-improving public and private investments. However, it could be equally entitled: How The Industrial Age Political-Economy Doesn't Work Anymore, viz. Surviving Progress (2011)... [more inside]
Is Psychometric g a Myth? - "As an online discussion about IQ or general intelligence grows longer, the probability of someone linking to statistician Cosma Shalizi's essay g, a Statistical Myth approaches 1. Usually the link is accompanied by an assertion to the effect that Shalizi offers a definitive refutation of the concept of general mental ability, or psychometric g." [more inside]
Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
Peter Turchin is a Professor of Mathematics, and of Ecology and Evolutionary Biology at the University of Connecticut. For the last nine years, he's been taking the mathematical techniques that once allowed him to track predator–prey cycles in forest ecosystems, and using them to model human history -- a pattern identification process he calls Cliodynamics. The goal of cliodynamics (or cliometrics) is to turn history into a predictive, analytic science. By analysing some of the broad social forces that shape transformative events in US society: historical records on economic activity, demographic trends and outbursts of violence, he has come to the conclusion that a new wave of internal strife is already on its way, and should peak around 2020. [more inside]
Mining the Mother of all Data Dumps We now have a relatively massive haul of digital data from the OBL strike. There are several forensic toolkits in use by the private (commercially available) and public sector as well as open-source. Best practices include inventorying all the sources, cloning the sources so as to not damage pristine data, recovering any partial or damaged content, making the cloned sources read-only, adhering to legally-admissible tools standards, and documenting everything. There is an excellent source titled Digital Forensics and Born-Digital Content from the Council on Library and Information Resources [pdf, Resource Shelf]. But what to do next*? [more inside]
Data analysis, brought to you by Big Blue, is following a trend. Data has never been more social. Geeks and statistics groupies used to be isolated, but the internet is changing that. Ever pine for a pile of Excel spreadsheets? Have you tried running an ANOVA on a year's worth of traffic data? You're not alone. New sites add sociability to cold hard facts; take a look at the "YouTube for data" or IBM's Many Eyes. Both sites induce squeals of delight from anyone who's ever felt Tuftian. What's next? One word: infornography. Please, keep your Standard Deviation jokes to yourself.