Posts Tagged ‘Twitter’
“Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair”*…
Mike Konczal unpacks happens when one takes the AEI graphic of items that have had high and low inflation, but extend it to all categories…
This graphic is in the news again:
Its creator is Mark Perry of the American Enterprise Institute, who last posted an update to it in July 2022. He’s been doing a version since at least 2016, and if you read enough economics blogs or content you’ve probably seen some iteration of it.
People are talking about it again after Marc Andreessen posted it under the headline “Why AI Won’t Cause Unemployment.” Andreessen describes what people generally take away from it – blue line capitalism and dynamic, red line government regulations and stagnant…
Matt Yglesias noted on twitter that he’s “come to think it’s misleading — by being very selective in which categories of labor-intensive services it chooses to chart, it’s generated a narrative that relative price shifts are just about government regulation.”
That seems correct to me; these categories are pretty loaded. Let’s see if we can do better by including every possible category… let’s download all of the current Consumer Price Index (CPI) data off the BLS download site…
Since the BLS is constantly changing categories, we have to select the items that exist in both January 2000 and February 2023 to duplicate the chart. That leaves us with 62 categories. Doing a quick glance (and seeing in Perry’s own chart) the year-by-year evolution over time doesn’t really tell us much, so we can go with a simple bar chart for overall change. Let’s chart that here in full:
There are a few key takeaways looking at it this way:
In our version of the AEI chart the number one item isn’t health care but ‘delivery services,’ which is “fees for delivery of items such as letters, documents, and packages at non-US Postal Services facilities.”Think UPS or FedEx. This is pretty far from a government monopoly, indeed it’s the private sector alternative to a government program. But it is services and it is labor intensive.
The biggest thing, to me, isn’t “regulations” but whether it’s a service or a good…
More on how and why that matters in “A Better AEI Graphic of Inflation Over the Past 20 Years.”
* Sam Ewing
###
As we ruminate in the rise, we might recall that it was on this date in 2006 that Twitter co-founder Jack Dorsey sent the first tweet.
“A very merry Unbirthday to you!”*…
There’s been a good deal of understandable concern over online platforms and the dangers that they present to our health, both personal and civic. But occasionally it’s good to remind ourselves that there are services they provide that are genuinely crucial– e.g., Is Today Ted Danson’s Birthday?
###
As we go to The Good Place, we might recall that it was on this date in 1965 that the FBI exonerated “Louie Louie,” declaring that the lyrics of the 1963 recording by The Kingsmen– widely rumored to be “dirty”– were in fact simply indecipherable. After analyzing the disc at its intended 45 rpm and also at 33 1/3 and 78, and interviewing a member of the band, the FBI Laboratory declared the lyrics to be officially “unintelligible at any speed.”
In fact the song’s creator, Richard Berry, had released “Louie Louie” to mild regional success– and no lyrical controversy– a decade earlier. But the FBI’s verdict notwithstanding, a cloud hovered over the tune: in 2005, the superintendent of the Benton Harbor, Michigan school system refused to let the marching band at one of the schools play the song in a parade; she later relented.
from the FBI’s “Louie Louie” file
“An aphorism ought to be entirely isolated from the surrounding world like a little work of art and complete in itself like a hedgehog”*…
Digital media are often (fairly) derided for playing to short attention spans. But brevity need not be synonymous with simplicity. New technologies also offer a canvas for creativity—even if the palette is confined to 140 characters. Many an artist or author is adept at using online channels to promote their work, and projects like the Los Angeles Review of Books have embraced an internet-first ethos. But there are also writers producing work with a distinctively online mindset. Though the medium is not quite the message, the limitations imposed by Twitter make for particularly fertile ground, giving rise to what has been called “Twitterature”…
More on aphorisms in the internet age at “The charms of Twitterature”
* Friedrich von Schlegel
###
As we concentrate on concision, we might send bawdy birthday greetings to Donatien Alphonse François, Marquis de Sade; he was born on this date in 1740. The French aristocrat, revolutionary politician, philosopher, author, and libertine spent much of his adult life in prison. In 1778, de Sade was imprisoned by order of the king; ostensibly his offense was licentious behavior, but historians note that his mother-in-law, at whose urging the king acted, believed that the young Marquis was spending her daughter’s money too quickly. (There were also accusations of an affair with his wife’s sister… and it may have further motivated the mother-in-law that her daughter was rumored to be complicit in de Sade’s sexual escapades.) While in the Bastille, he battled boredom by writing– among other things, The 120 Days of Sodom. He was freed from prison in 1790, and ingratiated himself with the new Republic (calling himself “Citizen Sade”). de Sade began writing again, anonymously publishing works including Justine and Juliette… until, in 1801, Napoleon ordered his arrest (again for indecency and blasphemy). de Sade spent two years in prison, until his family had him declared insane, and moved him to the asylum at Charenton (the scene of Peter Weiss’s remarkable play Marat/Sade), where he died in 1814.
You must be logged in to post a comment.