Marginal Revolution

What are the benefits of being full professor?

Dan Drezner, who just won the title (congratulations!), gives a list.  Oddly he leaves off the most important (only?) benefit, namely that no one can tell you any more that you won't make full professor.  I know that sounds silly but in essence you choke off the ability of your university to send you one very particular negative status signal.  Nor can they hold that threat over your head.

Sometimes I think this is also a benefit of being married.  Let's say you and your significant other are not married.  In that case proposing, and having that proposal turned down, often causes couples to split up.  By marrying you remove this scenario as the source of a possible split.

There are advantages to sitting at the very top and very bottom of status distributions; it is often the in-between spots that are problematic.

The Man Who Loved China

That's the new Simon Winchester book and it concerns Joseph Needham, who wrote the famous series on the history of science in China and focused the attention of the scholarly world on the question: why no capitalism in China?  This books offers a love story, a story of a quest, a story of science, a tale of politics, and did you know that Needham (unwittingly) was the guy who taught the Unabomber to use explosives?

Here is one short bit from the book:

In 1989, more than half a century after they first met, Needham and Lu Gwei-djen were married in Cambridge.  She died two years later, whereupon Needham invited three other women to marry him.  All politely declined.

Definitely recommended.  The subtitle is "The Fantastic Story of the Eccentric Scientist Who Unlocked the Mysteries of the Middle Kingdom."  Here is one review.

Letter to the NEJM

The issue of off-label prescribing is heating up again.  A recent article in the New England Journal of Medicine by Randall Stafford made the case for greater regulation.  I am concerned that the benefits of off-label prescribing are not fully appreciated.  Dan Klein and I wrote a letter to the NEJM - which they declined to publish - in response.  Here's the letter:

Dear NEJM,

R.S. Stafford writes that off-label prescribing “permits innovation in clinical practice … offers patients and physicians earlier access to potentially valuable medications and allows physicians to adopt new practices based on emerging evidence.”  Nevertheless, he calls for greater FDA regulation.

In contrast, we argue that the efficacy of off-label usage suggests that less FDA regulation of first or on-label usage would increase innovation and offer patients earlier access to new medications. 

Off-label prescribing is regulated by the judgments of doctors, medical researchers, industry, the patient community, and patients.  This system offers patients a more nuanced approach to care than a top-down approach.  We should extend this approach to new drugs as well as to new uses for old drugs.

Our perspective is bolstered by a large survey of physicians which demonstrates strong support for off-label prescribing and considerable support for reducing FDA regulations on new drugs.

Daniel Klein
Alexander Tabarrok
George Mason University

Where do the kept women go?

Zubin Jelveh reports:

If you're a married woman living in the New York City area, there's a better than 50 percent chance that you don't work, according to a recent analysis of Census data by economists affiliated with the St. Louis Federal Reserve Bank.

More specifically, only 49 percent of white high school-educated married women in their prime working ages were holding down jobs in the New York area as of the 2000 Census. To put that in perspective, there are roughly 2 million woman over 15-years-old who are married in the New York area.

The national average for this particular demographic is 67 percent. At the other end of the spectrum is Minneapolis where almost 80 percent of these married women are employed -- that's larger than the percentage of working men aged 25 and older in the U.S.

And why is this?

Surprisingly, the economists argue, the most important specific thing seems to be traffic.

And if you do work in these traffic-heavy areas, you are likely to work more hours.  But is it all causal?

With all due respect to The Walker Art Center, if I wanted to be a kept woman I would not start my quest in Minneapolis.  High density, as you find in Manhattan, means lots of fun things to do in your copious free time as a kept woman and also a higher degree of income inequality and thus the hope of snaring a rich man.  There's a reason why they didn't set Sex in the City in Paramus and most of the women there will be working even when the traffic gets worse.