Michigan Journal of Economics
sites.lsa.umich.edu · Group blog · on HN since 2017
Michigan Journal of Economics is a University of Michigan student-run journal publishing essays on economics, policy and finance.
What HN saysHN links it for pieces like the Vatican City finances and inflation targets; commenters use it as a reference, not as an opinionated source.
19HN people shared it
11linked it in comments
9stories submitted
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Most-shared posts
- 1Why the 2% inflation target? (2023)2 people · 260 points · first shared 2024 · 602 comments on HN
- 2Cities should not pay for new stadiums1 people · 596 points · first shared 2022 · 565 comments on HN
- 3The impact of divorce laws on the equilibrium in the marriage market [pdf]1 people · 2 points · first shared 2024 · discussion on HN
- 4The Socioeconomics of Japanese Birth Decline1 people · 1 points · first shared 2024 · discussion on HN
- 5Repression works, just not in moderation [pdf]1 people · 1 points · first shared 2023 · 1 comments on HN
- 6Reinforcement Learning: Economics in Artificial Intelligence1 people · 1 points · first shared 2022 · discussion on HN
- 7Moving from academic to industry career plans: A personal story1 people · 1 points · first shared 2026 · discussion on HN
- 8It's Complicated: modern economic thought, Ceteris Paribus and complex models1 people · 1 points · first shared 2024 · discussion on HN
- 9Why the world is not trusting chinas nbs a political storyline1 people · first shared 2025
- 10Krugerdunning99.pdf1 people · first shared 2026
- 11Selected review articles overviews1 people · first shared 2026
- 12A comparative analysis of the us and uk health care systems1 people · first shared 2026
- 13Pnas.pdf1 people · first shared 2017
- 14Opinion the case for abolishing the federal minimum wage1 people · first shared 2024
- 15Jet.pdf1 people · first shared 2017
What HN people wrote when they linked it
superkuh · 2026-01-28
Gambling disorder was introduced in DSM 3 (1980) before much was known about human neurobiology under 'impulse control disorder not elsewhere classified'. Back then they even thought dopamine was a 'pleasure' chemical. And we now know it's about wanting, not liking. You may be mixing it up when it was reclassified as the DSM 4 (not 5!) did a big reorganization.
Kent Berridges' lab review articles are a great place to start to understand addiction, wanting, and liking and how they are different. But mostly importantly, how addiction works so you can see how chemical addictive substances are vastly different. https://sites.lsa.umich.edu/berridge-lab/selected-review-articles-over…
Edit: and re: "porn disorder/gaming disorder/behavioral impulse disorders to 'screens' in general" and the behavior of the ICD re: china, see the widely cited Nichole Prause' work https://scholar.google.com/citations?user=yySl87AAAAAJ&hl=en
ilamont · 2024-12-20
Bad data to cover up problems or gain benefit is a longstanding problem with official statistics published in the People's Republic of China:
Even after the Great Leap Forward, and as early as 1982, the Chinese Central Committee found that “the most difficult thing for a leadership unit to do is to collect accurate information at the basic level,” (Tasi, 2008, p. 805) as local officials often inflated their village income figures. In a survey of 316 villages, 81% of officials said their reported village income was higher than their real income, demonstrating that official reports for net income per capita in villages differed from their true values (Tsai, 2008, p. 809). Motivations for the inflation of income per capita lay in taxation rates and revenue. When economic figures were inflated in a village, officials were able to increase tax rates and thus increase the amount of levies they collected, taking more from citizens who had less to begin with, bearing a semblance to the Maoist era.
https://sites.lsa.umich.edu/mje/2021/11/29/data-falsification-a-short-…
Another major area where official statistics lied concerned the impact of policies implemented under Mao Zedong. It wasn't until the 1980s that scholars using statistical methods and modern population figures were able to determine that tens of millions of excess deaths had occurred during the Great Leap Forward 25 years earlier, which could be attributed to specific CCP…
trod1234 · 2025-05-22
Occasionally, I do to.
Are you trying to say that China doesn't fabricate and lie about their metrics and collection methodology? because I hate to be the one to break this to you, it does and there's a lot of news coverage on it going back over a decade.
https://www.scmp.com/economy/economic-indicators/article/3243527/china…
https://sites.lsa.umich.edu/mje/2023/05/01/why-the-world-is-not-trusti…
https://dialogo-americas.com/articles/china-withholds-manipulates-fals…
http://www.uschina.org/articles/chinas-official-statistics/
avsteele · 2024-04-29
Nice to see this happen! When this was attempted with trapped ions, I and my colleagues at GaTech were the first to trap and laser cool Th(232) 3+
https://sites.lsa.umich.edu/kuzmich-lab/wp-content/uploads/sites/90/20…
mschuster91 · 2023-05-15
More like 30 billion dollars, and a large swath of that is tied up in completely illiquid assets like churches or gold in reliquia [1].
[1] https://sites.lsa.umich.edu/mje/2022/05/24/the-finances-behind-vatican…
olalonde · 2023-03-10
Do you have a source on that? I've read several articles claiming that Twitter was only ever profitable in 2018-2019. e.g.
https://sites.lsa.umich.edu/mje/2022/12/21/twitter-and-its-fight-for-p…
> Twitter has been operating at a massive loss for years, failing to book an annual profit since 2019 (Mauer, 2022). For eight out of the last ten years, the company has posted a loss.
chongli · 2018-10-15
Not to mention intent. The US is ostensibly targeting those drones to attack individuals that their intelligence apparatus has identified as hostile. We can talk about the ethical and methodological problems with this approach, that's fine.
But China's operation appears to have the goal of wiping out Uygher culture and forcibly stripping them of their religious practices. This is all-out assault on the autonomy and dignity of an entire ethnic group. The scariest thing to me is that it might actually work[1].
[1] https://sites.lsa.umich.edu/zhukov/wp-content/uploads/sites/140/2017/1…
mattlondon · 2026-06-06
I think you have your numbers backwards regarding health.
The US spends more (16% Vs 10 GDP), but preventable mortality, life expectancy, people living with chronic conditions etc are all worse than other developed nations: https://sites.lsa.umich.edu/mje/2023/05/26/a-comparative-analysis-of-t… Plus the risk of being a victim of violence is higher in the US - you are 400% to 600% more likely to be murdered in the US than the UK, 700% more likely to be raped, 400% more likely to be robbed etc (https://www.ojp.gov/ncjrs/virtual-library/abstracts/international-crim… so you're gonna need that hospital treatment more.
As for pay the legal minimum hourly rate in the UK is approx $16.90 Vs the US minimum of $7.25
Median annual salaries seems to be approx $62k US Vs $53k UK so it is 17% higher not 400%. When you adjust for purchasing parity (https://www.imf.org/external/datamapper/PPPEX@WEO/OEMDC) it's more like 62k Vs 58k, or approx 8% more in the US. There are plenty of high-tech jobs in London, especially in AI & biotech recently (e.g. as an example
I am quite "mid-to-senior" level (i.e. 2 to 3 promos away from "director" type levels, so more headroom.for sure) and my annual total comp is about 8-9 times the median UK salary for example, somewhere in the $450-500k range and I am not even an AI researcher, just an engineer writing web apps at a Big Co)
Can't deny that some parts of the US are warmer, but there are also colder places. UK…
Tangurena2 · 2026-05-28
> Whenever you say "nobody would be that stupid" you have to pause and take a deep breath and realise that however dumb something is, there are for sure people who are stupid enough to do it.
Long ago, I graduated from a police academy. One of the things taught was that crooks, while clever at finding ways to make money, are rather unclever ("stupid" if you will) at performing that task. Which is why so many are caught.
The smart engineer who over-estimated his ability with sewing is a tragic example of the Dunning-Kruger effect.
I'm reminded of the Dunning Kruger paper [0]:
> In 1995, McArthur Wheeler walked into two Pittsburgh banks and robbed them in broad daylight, with no visible attempt at disguise. He was arrested later that night, less than an hour after videotapes of him taken from surveillance cameras were broadcast on the 11 o'clock news. When police later showed him the surveillance tapes, Mr. Wheeler stared in incredulity. "But I wore the juice," he mumbled. Apparently, Mr. Wheeler was under the impression that rubbing one's face with lemon juice rendered it invisible to videotape cameras.
Links:
0 - that paper itself: https://sites.lsa.umich.edu/sasi/wp-content/uploads/sites/275/2015/11/…
Animats · 2024-10-23
> What is the federal minimum wage? Who benefits from it being $7.25 an hour? Not the common people.
There are people trying to abolish the minimum wage in the US.[1] "Abolishing the federal minimum wage would help small businesses. Some economic theory suggests it would lower labor costs, expand the worker pool, raise profits, and reduce costs for consumers, as businesses tend to pass off the burden onto them. Also, ending it would delay the automation revolution. At a time in which ChatGPT – the AI chatbot that answers questions – is all the rage, more jobs get lost to machines every day (Burton & Wolla, 2021). The first ones to go are minimum-wage jobs. “Increasing the minimum wage decreases significantly the share of automatable employment held by low-skilled workers,” according to Professors Lordan of the London School of Economics and Neumark of UC Irvine (Lordan & Neumark, 2015). Cost-effective measures such as AI and self-service counters become less appealing when one isn’t forced to pay workers more."
Plus, it's weakly enforced. "Wage theft" is bigger than burglary, larceny, and robbery combined.[2] That doesn't include misclassification as an "independent contractor".
[1] https://sites.lsa.umich.edu/mje/2023/03/10/opinion-the-case-for-abolis…
[2] https://en.wikipedia.org/wiki/Wage_theft
fmitchell0 · 2017-02-03
I didn't realize the links had expired.
Here is a page linked to the research and modeling I ascribe in my talk: http://sites.lsa.umich.edu/scottepage/research-2/diversity-research/
Specifically:
http://sites.lsa.umich.edu/scottepage/wp-content/uploads/sites/344/201…
http://sites.lsa.umich.edu/scottepage/wp-content/uploads/sites/344/201…
http://sites.lsa.umich.edu/scottepage/wp-content/uploads/sites/344/201…
> it speaks of diversity in knowledge and problem solving approaches, rather than race, gender, age and other identifying features
The key piece is how you connect that statement to your next statement of what defines 'top' and 'very good'. Your heuristic is coding output. Code and programming has context. In most cases, it's a business context.
The point is value can be derived from experiences uniquely tied to race and gender, especially given how we're taught race and gender. It often doesn't coincide with reality.
That intrinsic value, of lived experience, shapes thought. It shapes how people approach problems. That value has to be tapped. Those evaluating talent (and its potential) often cannot 'see' why it should be a factor.
This is a limitation of the evaluators' local optima (referenced in the research).