How to tell correlation from causation - "The basic intuition behind the method demonstrated by Prof. Joris Mooij of the University of Amsterdam and his co-authors is surprisingly simple: if one event influences another, then the random noise in the causing event will be reflected in the affected event."
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]
Estimated US Energy Use in 2012: 95.1 Quads - "Energy flow charts show the relative size of primary energy resources and end uses in the United States, with fuels compared on a common energy unit basis." (via) [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]
The Control Revolution And Its Discontents - "the long process of algorithmisation over the last 150 years has also, wherever possible, replaced implicit rules/contracts and principal-agent relationships with explicit processes and rules."
The Destruction of Economic Facts - "Renowned Peruvian economist Hernando de Soto argues that the financial crisis wasn't just about finance—it was about a staggering lack of knowledge" (via) [more inside]
Elizabeth Warren on setting up the Bureau of Consumer Financial Protection - lecture starts here, but really starts getting good here: "I feel like this is a boring speech." stay for the Q&A.
Hans Rosling, who helped usher in TED talks way back when using stunning visuals, envisions how the world will look in 50 years as global population grows to 9 billion. To check further population growth, which might have disastrous consequences, he exhorts us to raise the living standards of the poorest. [more inside]