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Links and quotes for November 14, 2017
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Where star scientists locate: The impact of state taxes — Microeconomic Insights
Tax rates not only vary considerably across states but also within states over time. Given the ease with which US workers and firms can relocate, these differences over time and place could have significant effects on the geographical allocation of highly skilled workers and employers across the country. . . .
Our empirical analysis uncovers large effects of personal and business taxes on star scientists’ migration patterns. The probability of moving from an origin state to a destination state increases when the ‘net-of-tax rate’ (after-tax income) in the latter increases relative to the former. . . .
Overall, we conclude that state taxes have a significant effect on the location of star scientists. While many factors determine where innovative individuals and companies decide to locate, enough firms and workers are at the margin that relative taxes do matter. Local policy-makers would do well to consider this previously unrecognized cost of high taxes when deciding whom, and how much, to tax.
What happens when 100% of cars are autonomous — NYT
Silicon Valley’s next disruption: The meat industry — The Financial Times
Trade schools might be the best bet to reduce the US income gap — NBER
Economic integration has brought about not only benefits and opportunities but also required adjustment, especially for the youth entering the labor force. The lower growth rates characterizing the post Global Financial Crisis era and the concerns about income inequality put to the fore the degree that better targeted investment in human capital may ameliorate the challenges facing the working poor. Using cross-country data, we find the association between the income shares of the working poor, dependence on manufacturing sector, and the availability of vocational education. Conditioning on tertiary educational attainment, improved access to better vocational education will probably contribute more than large increase in regular college attainment. Comparing the US to Germany suggests that pushing more students to BA granting colleges may no longer be the most efficient way to deal with the challenges caused by the decline in manufacturing employment affecting in particular lower-income households. We also note that a tracking of technical training and educational budget, shown in the case of Vietnam in comparison to Thailand, as well as government subsidies for reskilling of labor force throughout their career in Singapore, is a potential explanation for their relative manufacturing competitiveness.
The case against taxing university endowments — George Will
2018: Is it time for Republicans to panic? — FiveThirtyEight
Does age bring wisdom, or just better socialization? — Slate Star Codex
We’ve been talking recently about the high-level frames and heuristics that organize other concepts. They’re hard to transmit, and you have to rediscover them on your own, sometimes with the help of lots of different explanations and viewpoints (or one very good one). They’re not obviously apparent when you’re missing them; if you’re not ready for them, they just sounds like platitudes and boring things you’ve already internalized.
Wisdom seems like the accumulation of those, or changes in higher-level heuristics you get once you’ve had enough of those. I look back on myself now vs. ten years ago and notice I’ve become more cynical, more mellow, and more prone to believing things are complicated. . . .
All these seem like convincing insights. But most of them are in the direction of elite opinion. There’s an innocent explanation for this: intellectual elites are pretty wise, so as I grow wiser I converge to their position. But the non-innocent explanation is that I’m not getting wiser, I’m just getting better socialized. Maybe in medieval Europe, the older I grew, the more I would realize that the Pope was right about everything.
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