code_sardaukar
Joined 10 years ago
Joined 10 years ago
How can you blithely state this "fact" given that the article itself shows that a poor person who graduates college has a better-than-average income distribution (every percentile is better off than the population as a whole).
It's really frustrating to me that people like you don't make any honest effort to distinguish between objective "lack of hope" where poor people actually cannot improve their situation, with subjective "lack of hope" where people for whatever reason are unable to be motivated to take actual opportunities that could help them. Clearly these are different phenomena and conflating them is irresponsible and dangerous.
Their reasoning is that the bond market is like a giant, distributed bank. Bondholders borrow short-term, and invest long-term, thus providing liquidity for businesses that need to make long term investment.
The problem is, we have no idea what the actual economics of liquidity provision is. The standard Diamond–Dybvig model is used to justify bailing out the banks (and also the "shadow" banks, i.e. the bond market) when things go bad. But if the Diamond–Dybvig model is correct, then liquidity provision is a mechanical process that could be done just as well by the government, and the bond market is just a way to get the free market to do this at exorbitant cost.
We need better theories to understand liquidity. I think the best work in this area is by Holmstrom and Tirole. Holmstrom's nobel price should help raise the profile of this work.
A quick google study yields "Using 15 years of data on Finnish twins, we find that 24% (54%) of the variance of women’s (men’s) lifetime income is due to genetic factors and that the contribution of the shared environment is negligible."[0] But I don't want to claim this is the final word, it's just the kind of evidence that is useful rather than blithe assertions and name calling.
[0] https://helda.helsinki.fi/bitstream/handle/10138/38881/HECER...
While it doesn't directly paint gay or effeminate men in a negative light, it also doesn't do enough to distance itself from the negative stigma men who don't follow traditional male roles face.
Personally I think everything said about Asian students is true, I just wish we could be as open and realistic when discussing other cultures, rather than simply blame "racism" when people from other cultures encounter difficulties.
It's a general pattern that comments that would be considered "racist" when applied to any other non-White culture, are ok when applied to Asia (see the constant flood of orientalist articles about Japan on HN).
Rich people haven't necessarily experienced much hardship, so they need to have a more abstract kind of empathy, but this doesn't make them worse people. Indeed, if a rich person felt that had done enough by paying taxes, I wouldn't blame them. From a utilitarian perspective, I would rather have another person who pays $100,000 in taxes and gives $0 to charity than someone who pays $20,000 in taxes and gives $1,000 to charity.
However, I can say that there are different ways to interpret things. The author sees tenure as a way to establish obedience to the unwritten rules of the department. Based on my knowledge of academia, including friends who were granted tenure, the process is mostly fair, but of course most people are going to want to do everything they can to maximize their chances. What the author interprets as proving obedience, I interpret as not wasting time on things the committee can't measure objectively, or doing things that might piss off people on the committee.
As someone in industry, I see academia as somewhere where people can make immense contributions to human knowledge, that cannot be done elsewhere, but they have to jump through certain hoops to do so. Outside of academia there is very little opportunity to do research. Industry is conservative, and prefers to implement and refine known techniques.
What has been shown to work in the long run, is Western democracy.