Group items tagged

According to Bloomberg, Saudi officials project the Line will cost around $100-$200 billion of the $500 billion planned to be spent on Neom and will have a population of 1 million with 380,000 jobs by the year 2030. It will have one of the biggest airports in the world for some reason, which seems like a strange addition to a supposedly climate-friendly city.

The site also makes numerous hand wavy and vaguely menacing claims, including that “all businesses and communities” will have “over 90%” of their data processed by AI and robots:

Don’t pay attention to Saudi war crimes in Yemen, the prince’s brutal crackdowns on dissent, the hit squad that tortured journalist Jamal Khashoggi to death, and the other habitual human rights abuses that allow the Saudi monarchy to remain in power. Also, ignore that obstacles facing Neom include budgetary constraints, the forced eviction of tens of thousands of existing residents such as the Huwaitat tribe, coronavirus and oil shock, investor flight over human rights concerns, and the lingering questions of whether the whole project is a distraction from pressing domestic issues and/or a mirage conjured up by consulting firms pandering to the crown prince’s ego and hungry for lucrative fees. Nevermind you that there are numerous ways we could ensure the cities people already live in are prepared for climate change rather than blowing billions of dollars on a vanity project.

intellectual overextension is often found in economics, as Gary Saul Morson and Morton Schapiro explain in their wonderful book “Cents and Sensibility: What Economics Can Learn from the Humanities” (Princeton). Morson and Schapiro—one a literary scholar and the other an economist—draw on the distinction between hedgehogs and foxes made by Isaiah Berlin in a famous essay from the nineteen-fifties, invoking an ancient Greek fragment: “The fox knows many things, but the hedgehog one big thing.” Economists tend to be hedgehogs, forever on the search for a single, unifying explanation of complex phenomena. They love to look at a huge, complicated mass of human behavior and reduce it to an equation: the supply-and-demand curves; the Phillips curve, which links unemployment and inflation; or mb=mc, which links a marginal benefit to a marginal cost—meaning that the fourth slice of pizza is worth less to you than the first. These are powerful tools, which can be taken too far. Morson and Schapiro cite the example of Gary Becker, the Nobel laureate in economics in 1992. Becker is a hero to many in the field, but, for all the originality of his thinking, to outsiders he can stand for intellectual overconfidence. He thought that “the economic approach is a comprehensive one that is applicable to all human behavior.” Not some, not most—all

Becker analyzed, in his own words, “fertility, education, the uses of time, crime, marriage, social interactions, and other ‘sociological,’ ‘legal,’ and ‘political problems,’ ” before concluding that economics explained everything

The issue here is one of overreach: taking an argument that has worthwhile applications and extending it further than it usefully goes. Our motives are often not what they seem: true. This explains everything: not true. After all, it’s not as if the idea that we send signals about ourselves were news; you could argue that there is an entire social science, sociology, dedicated to the subject. Classic practitioners of that discipline study the signals we send and show how they are interpreted by those around us, as in Erving Goffman’s “The Presentation of Self in Everyday Life,” or how we construct an entire identity, both internally and externally, from the things we choose to be seen liking—the argument of Pierre Bourdieu’s masterpiece “Distinction.” These are rich and complicated texts, which show how rich and complicated human difference can be. The focus on signalling and unconscious motives in “The Elephant in the Brain,” however, goes the other way: it reduces complex, diverse behavior to simple rules.

“A traditional cost-benefit analysis could easily have led to the discontinuation of a project widely viewed as being among the most successful health interventions in African history.”

Another part of me, though, is done with it, with the imperialist ambitions of economics and its tendency to explain away differences, to ignore culture, to exalt reductionism. I want to believe Morson and Schapiro and Desai when they posit that the gap between economics and the humanities can be bridged, but my experience in both writing fiction and studying economics leads me to think that they’re wrong. The hedgehog doesn’t want to learn from the fox. The realist novel is a solemn enemy of equations. The project of reducing behavior to laws and the project of attending to human beings in all their complexity and specifics are diametrically opposed. Perhaps I’m only talking about myself, and this is merely an autobiographical reflection, rather than a general truth, but I think that if I committed any further to economics I would have to give up writing fiction. I told an economist I know about this, and he laughed. He said, “Sounds like you’re maximizing your utility.” 

finance is full of “attribution errors,” in which people view their successes as deserved and their failures as bad luck. Desai notes that in business, law, or pedagogy we can gauge success only after months or years; in finance, you can be graded hour by hour, day by day, and by plainly quantifiable measures. What’s more, he says, “the ‘discipline of the market’ shrouds all of finance in a meritocratic haze.” And so people who succeed in finance “are susceptible to developing massively outsized egos and appetites.”

one of the things I liked about economics, finance, and the language of money was their lack of hypocrisy. Modern life is full of cant, of people saying things they don’t quite believe. The money guys, in private, don’t go in for cant. They’re more like Mafia bosses. I have to admit that part of me resonates to that coldness.

Economics, Morson and Schapiro say, has three systematic biases: it ignores the role of culture, it ignores the fact that “to understand people one must tell stories about them,” and it constantly touches on ethical questions beyond its ken. Culture, stories, and ethics are things that can’t be reduced to equations, and economics accordingly has difficulty with them

There is something thrilling about the intellectual audacity of thinking that you can explain ninety per cent of behavior in a society with one mental tool

According to Hanson and Simler, these unschooled workers “won’t show up for work reliably on time, or they have problematic superstitions, or they prefer to get job instructions via indirect hints instead of direct orders, or they won’t accept tasks and roles that conflict with their culturally assigned relative status with co-workers, or they won’t accept being told to do tasks differently than they had done them before.”

The idea that Maya Angelou’s career amounts to nothing more than a writer shaking her tail feathers to attract the attention of a dominant male is not just misleading; it’s actively embarrassing.

the revelation that thousands of agents have access to a searchable database without public oversight is a new development in what privacy advocates and some lawmakers warn could be an infringement of Americans’ Fourth Amendment rights against unreasonable searches and seizures.

CBP officials declined, however, to answer questions about how many Americans’ phone records are in the database, how many searches have been run or how long the practice has gone on, saying it has made no additional statistics available “due to law enforcement sensitivities and national security implications.”

Law enforcement agencies must show probable cause and persuade a judge to approve a search warrant before searching Americans’ phones. But courts have long granted an exception to border authorities, allowing them to search people’s devices without a warrant or suspicion of a crime.

The CBP directive gives officers the authority to look and scroll through any traveler’s device using what’s known as a “basic search,” and any traveler who refuses to unlock their phone for this process can have it confiscated for up to five days.

CBP officials give travelers a printed document saying that the searches are “mandatory,” but the document does not mention that data can be retained for 15 years and that thousands of officials will have access to it.

Officers are also not required to give the document to travelers before the search, meaning that some travelers may not fully understand their rights to refuse the search until after they’ve handed over their phones