July 22nd, 2019

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PHENOMENAL WORLD

Blog highlights

At the Phenomenal World, we have been publishing pieces covering a wide-range of topics, many of which are common ground in this newsletter. Below, in no particular order, is a round-up of some recent work in case you missed it.

Be on the lookout for upcoming posts over the next months—including work on counterfactual fairness by Lily Hu; an interview with scholar Destin Jenkins on race and municipal finance; an examination of the philosophy of Neyman-Pearson testing by Cosmo Grant; and a piece on UBI in the 1970s by Nikita Shepard—and subscribe to the Phenomenal World newsletter to get new posts directly in your inbox.

As always, thank you for reading.

  • Max Kasy discusses the standard of social science experimentation—randomized controlled trials—and proposes, in a new working paper with his colleague Anja Sautmann, a new method for designing experiments that lead to the optimal policy choice. Link.
  • Amanda Page-Hoongrajok reviews James Crotty's new book, Keynes Against Capitalism. Page-Hoongrajok discusses Keynes's thought, Crotty's interventions, and the relevance of these discussions for the current macroeconomic environment. Link.
  • Owen Davis surveys the monopsony literature, dispelling some persistent misunderstandings and clarifying its significance for the state of current economics research. Link.
  • Maya Adereth interviews the legendary and influential political scientist Adam Przeworski. In an expansive conversation, Przeworski discusses his intellectual trajectory, his experience and observations around Allende's government in Chile, the neoliberal turn, and the future of popular politics. Link.
  • Greg Keenan examines the history of copyright formalities in the United States and Europe, arguing that the frequently derided US copyright regime is, in fact, well suited for the digital age. Link.
  • Hana Beach interviews basic income scholar Almaz Zelleke on the neglected history of feminist welfare rights activists's campaigns for unconditional cash transfers, the complex relationship between advocacy and policy, and the current drive towards UBI. Link.
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March 22nd, 2019

The Emerging Monopsony Consensus

Early on in The Wealth of Nations, Adam Smith asked who had the edge in negotiations between bosses and wage laborers. His answer: the bosses. In the case of a stalemate, landlords and manufacturers “could generally live a year or two” on their accumulated wealth, while among workers, “few could subsist a month, and scarce any a year, without employment.” Thus, concluded Smith in 1776, “masters must generally have the advantage.”

As economic thought progressed over subsequent centuries, however, Smith’s view of labor markets gave way to the reassuring image of perfect competition. In recent years, a model more in line with Smith’s intuitions has grown to challenge the neoclassical ideal. Under the banner of monopsony, economists have built up an impressive catalog of empirical work that offers a more plausible baseline model for labor markets.

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June 9th, 2018

Ego

PAVEMENT, NURSING, MISSILES

Algorithm Tips, a compilation of "potentially newsworthy algorithms" for journalists and researchers

DANIEL TRIELLI, JENNIFER STARK, and NICK DIAKOPOLOUS and Northwestern’s Computational Journalism Lab created this searchable, non-comprehensive list of algorithms in use at the federal, state, and local levels. The “Methodology” page explains the data-scraping process, then the criteria for inclusion:

“We formulated questions to evaluate the potential newsworthiness of each algorithm:

Can this algorithm have a negative impact if used inappropriately?
Can this algorithm raise controversy if adopted?
Is the application of this algorithm surprising?
Does this algorithm privilege or harm a specific subset of people?
Does the algorithm have the potential of affecting a large population or section of the economy?

If the answers for any of these questions were 'yes', the algorithm could be included on the list."

Link popup: yes. The list includes a huge range of applications, from a Forest Service algorithmic ranking of invasive plants, to an intelligence project meant to discover “significant societal events” from public data—and pavement, nursing, and missiles too.

  • Nick Diakopolous also wrote a guide for journalists on investigating algorithms: “Auditing algorithms is not for the faint of heart. Information deficits limit an auditor’s ability to sometimes even know where to start, what to ask for, how to interpret results, and how to explain the patterns they’re seeing in an algorithm’s behavior. There is also the challenge of knowing and defining what’s expected of an algorithm, and how those expectations may vary across contexts.” Link popup: yes.
  • The guide is a chapter from the upcoming Data Journalism Handbook popup: yes. One of the partner organizations behind the guide has a website of advice and stories popup: yes from the data-reporting trenches, such as this popup: yes on trying to figure out prescription drug deaths: “The FDA literally found three different ways to spell ASCII. This was a sign of future surprises.”
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