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Just remember the password people!

I have some tricks for doing this, which I have scrawled in the inner part of the margin of the manuscript.  Here is Matt Levine on Bitcoin: I half-joked yesterday that “perhaps the cost of bitcoin storage — keeping your private key in a vault, worrying about hackers, etc. — is so high that ... more

Marginal Revolution University 12/12/2017 - 10:43pm
Switzerland is Prepared for Civilizational Collapse

More than any other country, Switzerland’s ethos is centered around preparing for civilizational collapse. All around Switzerland, for example, one can find thousands of water fountains fed by natural springs. Zurich is famous for its 1200 fountains, some of them quite beautiful and ornate, but... more

Marginal Revolution University 12/12/2017 - 5:25am
Are corporate jets a waste of money?

Almost certainly not: While shareholders have strong incentives to limit value-destroying perquisite consumption, it is challenging to identify such perquisites. Many corporate assets that enable forms of perquisite consumption also provide operational benefits. Corporate jets represent a potent... more

Marginal Revolution University 12/11/2017 - 9:14am
Tuesday assorted links

1. The Western elite from a Chinese perspective. 2. Podcast with NPR Planet Money. 3. Bershidsky on Bitcoin futures. 4. “The timing of the agreement also coincides with speculation that India, Japan, the US and Australia will soon formally reconvene the dormant Quadrilateral grouping first... more

Marginal Revolution University 12/12/2017 - 12:59pm
Occupational licensing is a barrier to interstate migration

…we find that the between-state migration rate for individuals in occupations with state-specific licensing exam requirements is 36 percent lower relative to members of other occupations. Members of licensed occupations with national licensing exams show no evidence of limited interstate... more

Marginal Revolution University 12/11/2017 - 7:35am
The social origins of inventors

That is a new paper by Aghion, Akcigit, Hyytinen, and Toivanen, here is one brief excerpt: In particular we see that IQ is by far the main characteristic for the probability of becoming an inventor in terms of the share of variation it explains, followed by parental education.  These two groups... more

Marginal Revolution University 12/12/2017 - 10:47am
*Between Quran & Kafka: West-Eastern Affinities*

That is another truly splendid book by Navid Kermani.  Imagine deep and thoughtful essays on Goethe and Islam, Kleist and love, Shiite passion plays, Wagner and empathy, and why he doesn’t so much sympathize with King Lear, all from a George Steiner brand of polymath.  As I’ve mentioned before,... more

Marginal Revolution University 12/13/2017 - 7:36am
New Zealand fact of the day

…a recent report by Yale University concluded the country is suffering the highest rate of homelessness in the developed world with 40,000 people, nearly 1 per cent of the population, living on the streets or in emergency housing or substandard shelters. …“The big change in homelessness is the... more

Marginal Revolution University 12/11/2017 - 12:37am
Bitcoin Is a Bit of a Miracle at Any Price

That is the title of my latest Bloomberg column.  Rather than giving you the main argument, let’s instead cut to the end: The real story of bitcoin is a heartening one of community. Less than 10 years ago, the bitcoin asset was worth virtually nothing, but a small group of people believed in it... more

Marginal Revolution University 12/11/2017 - 11:34pm
The culture that is San Francisco

Animal shelter faces backlash after using robot to scare off homeless people. Via ChiefRobot and Will Knight. The post The culture that is San Francisco appeared first on Marginal REVOLUTION.

Marginal Revolution University 12/13/2017 - 7:13am