Marginal Revolution

Division of labor in the Babylonian Talmud

This reminds me of Leonard Read's "I, Pencil," but of course it came much earlier:

Ben Zoma once saw a crowd on one of the steps of the Temple Mount. He said, Blessed is He that discerneth secrets, and blessed is He who has created all these to serve me. [For] he used to say: What labours Adam had to carry out before he obtained bread to eat! He ploughed, he sowed, he reaped, he bound [the sheaves], he threshed and winnowed and selected the ears, he ground [them], and sifted [the flour], he kneaded and baked, and then at last he ate; whereas I get up, and find all these things done for me.

And how many labours Adam had to carry out before he obtained a garment to wear! He had to shear, wash [the wool], comb it, spin it, and weave it, and then at last he obtained a garment to wear; whereas I get up and find all these things done for me. All kinds of craftsmen come early to the door of my house, and I rise in the morning and find all these before me.

Credit goes to Stephen Dubner.

Ezra Klein on Kindle

At the end of the day, the true advances won'€™t come in the Kindle, but in the content. Just as the capabilities of the device will shape what authors decide to do with it, so too will the decisions of authors shape the evolution of the device. The Kindle a€™s homepage already features videotaped testimonials from such literary luminaries as Toni Morrison, Michael Lewis, James Patterson, and Neil Gaiman. But what the Kindle, and Amazon, need is not their kind words, but more of their written words, composed with an eye toward the possibilities offered by electronic text. Just as the early television shows were really radio programs with moving images, the early electronic books are simply printed text uploaded to a computer. Amazon could use its unique position to change that.

Here is more.  Here is Megan McArdle on Kindle: "Best thing since sliced bread."  Here is me on Kindle, before and after trying it.

The best sentence I read today, circa 6:36 a.m.

Nixon, who became vice president at age 40, was well described as “an old man’s idea of a young man.”

That is from this review of Nixonland, a book which is rapidly approaching the top of my pile. 

Department of Uh-Oh

Until recently, nearly all the thinking about the risks of space-rock strikes has focused on counting craters.  But what if most impacts don't leave craters?  This is the prospect that troubles Boslough.  Exploding in the air, the Tunguska rock did plenty of damage...

That is Gregg Easterbrook in the latest Atlantic Monthly, June issue, "The Sky is Falling," not yet on-line.  Here are previous MR posts on the asteroid problem.

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.

Assorted links

1. It hurts to be poor

2. The Bastiat Prize for free-market journalism

3. The 1949 Phillips machine restored

4. Dilbert starts the Economics Party

Russia fact of the day

By 2015, Moscow will boast the 10 tallest office buildings in Europe—and already prime office rents in Moscow are going above $2,000 a square meter, 50 percent higher than the most prestigious skyscrapers of midtown Manhattan.

Here is more, interesting throughout, and thanks to John Bailey for the pointer.

Addendum: Don't forget this part -- about corruption -- either:

Indeed, by some estimates, Russia's GDP growth should have been closer to 14 percent—after all, Russia is the world's largest energy exporter at a time when prices have tripled during the last half decade.