What I learned in 2017

I thought to write a post on some of the things I’ve learned in the past year, along with some recommendations on what you should see and read.

Here’s a general principle I’d like to put forward: That learning, broadly defined, ought to accelerate over time. It’s an analytical error to analogize the growth rate of knowledge (and I’m going to be vague about this) to something like the growth rate of a country’s GDP. Instead of expecting it to slow over time, we should spend our days trying to accelerate the growth of our knowledge base.

My observation is that most people expect learning to decelerate. It’s not uncommon to see this attitude among fresh college grads: “I’m done with school and it’s time to join the workforce so that it’s time to implement all the stuff I’ve learned.” They tend to tie learning together with being forced to read books and attend lectures, and since they no longer need to do these things, therefore they don’t have to keep learning. The result is that they more or less lose interest in improvement.

Countries generally can’t maintain high growth rates, but that doesn’t equally have to affect individuals. I’d like for people to think in different terms. The world is big enough, and any individual is small enough, that we can accelerate learning over time. And I submit that positive belief that this claim is true would make it so.

Let me try to justify this in some theoretic terms.

  • Network effects. Learning more facts increases the value of the facts that one already knows. In other words, learning a new fact can help you increase the value of older facts. When you know more, you can identify a greater number of themes and form new theses. At certain levels of abstraction, you feel that you’re able to form novel insights, that things you didn’t previously understand have moved within your grasp, that a point you dismissed previously as mundane is in fact quite deep.
  • Positive returns to scale. The more you learn, the easier it is to learn. You can start skipping over stuff you’ve read before, because you’re familiar with the ideas or the methods of argument. (Do we still need to read that paragraph explaining, say, comparative advantage?) Thus one skips over the familiar stuff to get straight to the unfamiliar ideas.

Okay, maybe these are saying the same thing: they boil down to a claim that knowledge can compound. I’d like for us to think about how to accelerate the growth of learning. The traditional method of reading more books and trying to improve professionally are good starts; but it’s not enough to stop there. One can learn more by traveling to new places, being social in different ways, reading new types of books, changing jobs or professions, moving to a new place, by doing better and by doing more. Writing stuff out and putting ideas out there helps too, and I wish that my friends wrote more.


Speaking of writing, I regret to have posted only six essays in 2017. It’s a low figure and I wish to do better. On the other hand, I’m pleased that each of them made some small impact in a few circles; more importantly, overall I’ve been pretty happy with their quality.

My two best pieces have been Definite Optimism, a proposal for developing a concrete vision of the future, as well as the importance of maintaining an industrial base; and Girardian Terror, which describes the problems that come from focusing our gaze on each other, instead of matters of the world. I’m delighted that Definite Optimism became my most well-read piece of the year. I don’t often write from the left, and I was pleasantly surprised that the packaging didn’t detract from the message.

It’s only this year that I feel that my posts have started to develop greater forward and backward linkages. That is to say, instead of most posts being idiosyncratic and unrelated to each other, more of them are cohering together into themes. Some people have remarked negatively upon the length of my posts. But there’s a way to think of them as very short indeed. I break my posts into sections, marked by asterisks, and I’d like to think they’re all modular upon my overall thought. While posts may look like they’re organized under distinct titles, my hope is that each individual section is a fractal for all my other views.

I kicked off the year with a piece on what I find so bizarre about California, and I present there a framework for viewing the world. My review of The Complacent Class has a lot to do with my review of the Three Body Problem, which makes sense since both are commentary about China. Why so few people major in computer science was the second most read piece of the year. Girardian Terror coalesced various themes of this site since its beginning, while Definite Optimism is commentary on my change in perspective since I moved from New York to Asia.

One should never be all that explicit when writing on the internet, so I’ll stay silent on the implications of my Girard and California pieces. I’m happy however to bring out a few questions I’d like more people to consider from my definite optimism post:

1. Why not let’s ask for the US to reach and sustain 3 percent GDP growth by 2020?

2. Are we sure that rich countries aren’t themselves suffering their own premature deindustrialization?

3. Why don’t we focus more on developing the developed world?

Certainly I wish to write more than six pieces a year. But I have to contend with the fact that I have a full-time job after all, and writing essays here is supposed to be for fun. (I don’t make much income from this site, nor do I ever intend to.) And while I wish I wrote shorter posts more often, much of my quick writing has moved to email correspondence with friends, so these posts end up more as polished final products rather than spontaneous thoughts. It’s the wrong tendency, I admit, for the blogosphere. But I think these kinds of thought-out posts work better for me, and therefore I won’t make any promises of higher output this year.


It’s time to talk about books.

Most people don’t have a very high level understanding of the mechanics of China’s economy, generally speaking. You can be part of the solution and not part of the problem by picking up Arthur Kroeber’s book, China’s Economy: What Everyone Needs to Know. It offers an overview of the main drivers of the world’s second-largest economy, including the property cycle, urbanization, the fiscal system, industry and exports, demographics, and more. (I should note at this point that I’m biased because Arthur is the head of research at my firm.)

I reviewed two books in these pages this year that I’m happy to recommend again. Liu Cixin’s The Three Body Problem series, and Tyler Cowen’s The Complacent Class. If Three Body Problem is not your cup of science fiction tea, then I’m also happy to recommend Seveneves and Snow Crash, which I read back to back this year. (Though if you haven’t yet read Cryptonomicon, I say pick that up first.)

Much of my reading has been China-focused recently. I enjoyed Autumn in the Heavenly Kingdom, not only because its title is sublime; although it’s not really conceptually driven, it reads quickly, almost as if it were a novel. Unlikely Partners, by Julian Gewirtz, gives a good sense of how post-reform policymaking happened: through extensive arguments by different factions trying to hammer out a written document, which becomes policy for all. I’m enjoying making my way through the HUP series History of Imperial China, edited by Timothy Brook. They’re good because they’re more conceptually driven than chronologically so. (Thanks to Simon Cartledge for lending me all six books in the series.)

The most Chinese book I read this year was Buddenbrooks, by Thomas Man. It opens with the virtuous head of a merchant family, and then moves on to his more carefree and less competent descendants, who fritter away the family’s fortune and good name. It’s shirtsleeves to shirtsleeves in four generations, culminating in death induced by typhoid. I thought it took great daring by the author to set the novel in Lübeck and Hamburg instead of Hangzhou or Beijing, but it worked well. By the way, I found Buddenbrooks to be much more easygoing and enjoyable than The Magic Mountain.

Two nonfiction books:

The Second World Wars, by Victor David Hanson. At some point one has to stop reading books about that war, and for me this about does it. The book is less about individual battle scenes and generalship; instead it’s a case for why the Allies had to win, based on a better grasp of strategy as well as far greater capacity for industry.

How Asia Works, by Joe Studwell. It’s the best story of the East Asian economic miracle. Should you meet anyone who doubts that this subject is worth studying, I suggest responding with this quote: “Whereas Hegel saw the 19th century Prussian state as a manifestation of God’s will in history, I am assigning a comparable (but secular) place of importance to the East Asian economic miracles. The word ‘miracle’ truly does apply.”

In a sense, the best nonfiction I read this year was the Financial Times. It’s only this year that I finally had a subscription to the FT, and I wish I signed up years ago. Its culture section is excellent, and I feel that it delivers the most intelligent way to approach news. I like its tech coverage a great deal too, and I’d recommend my Silicon Valley friends to take a look; it most consistently focuses on the things that matter.

I didn’t do a great deal of fiction in 2017, and I intend to remedy that in 2018. I had wished to re-read the Proust series, but failed to finish. One piece of good news is that the second half of the new Penguin translations ought to be released in the US this year, so that fresh translation will provide an impetus.


I watched only a single TV show this year, which I really enjoyed: Big Little Lies on HBO. The shots are beautiful and the drama is compelling; it was a significant inspiration for my piece on Girard. I regret to have mostly ignored TV as a creative stimulus this year, and concede that my imaginative capacity has possibly suffered as a result.

The very best movie I watched this year was The Florida Project, so good I saw it in theaters twice, the second time no less compelling than the first. The premise: Motels outside Disneyland in Orlando are pretty cheap, and they take on more or less permanent guests, most of whom don’t have very good jobs. And that’s all I’ll say. Some parts were really funny, some other parts were very moving, do try to go. (I thank Eugene Wei, without whom I would not have heard about this movie, for taking me to see it.)

Three other movies of note:

Mountains May Depart, Jia Zhangke. I’d say that this is now my favorite Chinese movie. It and Autumn in the Heavenly Kingdom have the best names in this post.

Toni Erdmann, Maren Ade. It’s terribly uncomfortable, and that’s part of the humor. At other times it’s very sad indeed. The magic of both Toni Erdmann and The Florida Project is that they make one sit very still in the theater, transfixed, with no idea how the current scene will resolve, nor what the next scene will bring.

Youth, Feng Xiaogang. This is straightforwardly a propaganda film. I say it’s worth watching for what Chinese reminisce about, and its production values are higher than most propaganda films out there. Its first minute is quite good, you can watch a Youtube clip here.


A question I like to ask when I travel: “What would I be like if I grew up here? Would I be very different if I spent my childhood here rather than in Kunming, Ottawa, and Philly?” I find that asking it prompts better thoughts, and it encourages me to be more observant of the things around me.

One good thing about Hong Kong is that it’s very easy to leave Hong Kong. I don’t merely mean that the airport infrastructure is set up very well here; about half of humanity is within a six hour flight of this city. This year, I had the chance to visit every part of the Sinosphere (or places where people are majority Chinese): I live in Hong Kong, and I’ve visited mainland China, Macau, Taiwan, Vancouver, and Singapore.

There’s fantastic variety to these places. Singapore is a remarkable city, and it takes only one visit to see that. Out of all these places, I had the most fun in Taipei, which I found to be the place best optimized for eating and leisure. Macau certainly does the latter, but to proportions that approach the grotesque, while meal for meal, nothing beats the inventiveness of Taiwan.

My favorite travel experience was in China itself. It’s so easy to find accounts extolling holidays in places like Japan, Thailand, or Bali. They’re easy to appreciate, either because of their natural endowments or because they’re already so good at catering to tourists. I’d argue however that China delivers the most rewarding travel experience of all, precisely because there are so many weird frictions.

I submit that really every part of China is worth seeing, not just Shenzhen, Shanghai, and Beijing. Sichuan, Guizhou, and Yunnan are very different from Guangdong and Fujian, which are not at all the same as Heilongjiang, Jilin, and Liaoning, which are so distinct from the Jiangnan, and on and on, to say nothing of the far west. Each Chinese province has roughly the population of a large EU country; there may not be as many differences between each province as there are between European countries, but they’re still huge.

One can’t so easily find accounts of how much fun it is to travel around China. Those who haven’t ventured far beyond Shenzhen, Shanghai, and Beijing underestimate the sheer number of totally random stuff that happens to you. In stores, traffic, restaurants, and on the streets, I regularly come across behaviors and fixtures that I had no idea were a thing. You might be driving along miles of farmland, when suddenly a massive high-tech factory with the logo of a well-known foreign company looms up on the horizon; in a restaurant, I was asked one time to help with the cooking because chefs had to go out to buy more ingredients; you never know who might come up to you and tell you an interesting story. The lack of professionalism in nearly all things is sometimes frustrating but mostly hilarious.

There are many interesting stories from Chinese that we’ll never know. That’s true not only because in general we won’t know most interesting stories, not even in a single city block, but it’s especially the case in China, which has seen intense changes but few records. Most people who grew up through 1979 have had some extreme experiences, both happy and unhappy, and I wish that more of their stories can be recorded for posterity. A secular version of a monastery, say, supporting scholars whose sole jobs are to take down oral histories from ordinary people.

Here’s something underreported: how good the consumer experience is today in most of Asia. Retail and restaurant marketers should come over to Shenzhen, Singapore, Taipei, Seoul, and Tokyo to see how sophisticated the consumer experiences are for young people. These stores make shopping and eating a fun experience, with their combination of good service, fun stuff to do while you wait, and inventive new foods.


This year, my taste in music veered toward the conventional. I’ve found myself listening to a great deal of Beethoven, especially the third symphony—his most perfect of all—and to the string quartets. I’m not sure why exactly I’ve gone to those this year, I attended no live performance that rekindled this interest.

I attended a few memorable performances. I loved the Tristan from the last season of the Met, with Nina Stemme as Isolde and Simon Rattle as conductor. Strauss’ Salomé works well on disc, but it was fun to see it extravagantly performed live. Also at the Met, Jenufa and L’amour de loin were very enjoyable.

Usually I listen to Philip Glass when I write, and this year I got to attend a live performance. It was the premiere of his 11th symphony, by the Bruckner Orchestra Linz, which Glass attended as well on his 80th birthday. And the very best musical event of my year was a performance of Brahms’ Deutsches Requiem, performed by the Rundfunkchor Berlin, as part of the Lincoln Center’s White Lights Festival. We stood in a chapel in the Upper West Side, as the choir emerged from the audience, finding ways to engage with us throughout the singing, deploying constant surprises in the dark space. I thought it was sublime, and the good news is that the ensemble performs it elsewhere, so perhaps you can catch it too.

I had a lot more Wagner this year. I find that Tristan and Das Rheingold work well on disc, and Parsifal too, especially the third act. Strauss as well, whose operas are exceedingly fine, most of all Daphne and Der Rosenkavalier. Verdi’s Otello is sometimes spoken of as comparable to Shakespeare’s play, but hardly anyone says the same about the respective Macbeths. Verdi’s Macbeth is not frequently performed, but I think that its ruminative parts are excellent reminders of why it is we love Verdi.


(I enjoyed this cyberpunk series of Hello Chongqing)

On Hong Kong I shall write more later.

To conclude, why not let’s ask for the US to reach and sustain 3 percent GDP growth by 2020?

Are we sure that rich countries aren’t themselves suffering their own premature deindustrialization?

Why don’t we focus more on developing the developed world?

Definite optimism as human capital

In a brief essay, Anton Howes asks: “Is innovation in human nature?” That is to say, do people have some natural stock of innovative capacity, waiting to burst forth when conditions are right? By way of anecdote, Howes’ answer is: not really. He pushes back against the idea that the industrial revolution took place merely because the economic conditions were suitable for one: “The more I study the lives of British innovators, the more convinced I am that innovation is not in human nature… People innovate because they are inspired to do so. And when people do not innovate, it is often simply because it never occurs to them to do so. Incentives matter too, of course. But a person needs to at least have the idea of innovation—an improving mentality—before they can choose to innovate.”

Let’s ask more generally: What are the factors that drive economic growth? If we pull out and dust off our econ textbooks, we’ll read that growth is a function of higher investments, spending, trade, productivity, and so on. They can be broken down into ever more abstract categories, but technical enough that we can measure them to two decimal points and above. Howes’ framing prompts me to bring up some questions I was dumbfounded to pose in four years of econ classes: How do beliefs about the future affect long-term economic growth? What role do optimism and pessimism play? How important are imagination and drive to growth?

And most of all: Why do we treat innovative capacity as some kind of fixed stock, constant across time and between countries, ready to be activated as soon as policymakers have finally gotten around to legislating the right conditions in place?

I’ve come to the view that creativity and innovative capacity aren’t a fixed stock, coiled and waiting to be released by policy. Now, I know that a country will not do well if it has poor infrastructure, interest rate management, tax and regulation levels, and a whole host of other issues. But getting them right isn’t sufficient to promote innovation; past a certain margin, when they’re all at rational levels, we ought to focus on promoting creativity and drive as a means to propel growth.

I wonder if economists overrate the easier-to-observe policy factors and under-theorize the idea that positive visions of the future drive long-term growth. To put it in a different way, I wish that they would consider definite optimism as human capital. In addition to education levels, human capital models should consider factors like optimism, imagination, and hope for the future.

When I say “positive” vision, I don’t mean that people must see the future as a cheerful one. Instead, I’m saying that people ought to have a vision at all: A clear sense of how the technological future will be different from today. To have a positive vision, people must first expand their imaginations. And I submit that an interest in science fiction, the material world, and proximity to industry all help to refine that optimism. I mean to promote imagination by direct injection.


Let’s start with the capacity of science fiction to improve imagination. One way of having a better idea of the technological future is to first read about one in a book or see one on screen.

Alas, for some reason, science fiction movies have taken a bleak turn in the last few decades. The dominant mode in modern sci-fi movies is dystopia, and perhaps even nihilism. Today, the contrarian project is to present an earnest, joyful vision of the technological future. That kind of undertaking will invite mockery from commentators posting essays on Medium, but one can hope that younger, less jaded people will find attractive that daring imagination.

If I had funding and access to studio talent, I would reshoot a bunch of films. Elysium, with a focus on the logistics behind the smooth functioning of a satellite habitat. Ex Machina, featuring an artificial intelligence whose greatest desire is not acceptance in human society. Gravity, with greater marveling of space and the desire to explore, not the aftermath of random mechanical failure. Her, in which artificial intelligences decide to improve humanity, instead of migrating en masse to a higher spiritual plane. Star Wars with no wars and no Jedis—and therefore no Sith—that instead draws out the gains from interstellar exchange under oversight of the Trade Federation. (Bonus points for working out rules that would govern countervailing duties and state procurement under a galactic trade regime.)

I confess I don’t know how to make these stories exciting. Doesn’t it sound though like an exciting challenge for the creative type? It is so conventional these days to watch yet another movie about how robots attempt to wipe out humanity, but ultimately fail, because they’re missing some essential soulful touch. So let me provide prompts to the enterprising screenwriter: What might society look like if we had energy too cheap to meter? If artificial intelligences must be otherworldly, how about we present them as angels of Rilke come down to Earth? When humanity manages to become a solar civilization, can we depict the inventions we need to colonize various moons and planets? How about the logistics of how colonies trade?

Books are less uniformly dystopian. I loved two that I read in the past year: *Seveneves* by Neal Stephenson and *The Three Body Problem* by Liu Cixin. Both present definite optimistic visions of the future: Calamity threatens humanity; but it allows some time for humanity to prepare; and humanity uses this time to plan out the technological future. It more or less fulfills what it set out to do, and for the most part people triumph over their threats. I am delighted by the theme of people working hard to overcome existential challenges.

And I hope that many more authors and directors get into this genre. Let’s have more movies and books that look forward to the technological future.


Economists tend to be dismissive of arguments for industrial policy. I usually agree with their arguments, but today I want to stick up for one potentially positive aspect: That manufacturing and engineering work can improve imaginative capacity through exposure to industrial processes. I sympathize more often with those who lament the decline of the US industrial base because I think that more people should have greater proximity to the world of manufacturing and engineering.

(A bit of context: According to FRED’s measure, the number of people employed in manufacturing peaked at nearly 20 million in 1979; that figure is slightly above 12 million today. As a share of working age population, that’s a decline of 14 percent in 1979 to 6 percent today. That decline in headcount has not translated to a decline in total output. Today, manufacturing output in real terms is higher than ever before. But it’s worth noting that the figure collapsed after 2008, and is now only a shade higher.)

The fewer the manufacturing workers and engineers, the more removed everyone is from the particulars of industrial processes, and the more remote that knowledge becomes in each successive generation. We become think tankers and app designers and restaurant hosts, while the details of the industrial world become further and loftier abstractions. How many of our grandparents were familiar with the details of ball bearings, wire production, concrete mixing, industrial chemicals, while we are not?

I regret this abstraction of the material world. Most of our living standards are tied to the world of atoms. Even when we spend a lot of time online and on our phones, we go to work in cars and subways; keep ourselves warm and cool using machinery and electricity; surround ourselves with objects that let us cook or relax; and on and on. The online world is not entirely free of the material world. Our phones require aluminum and rare earths and silicon chips; the internet is powered by cables that run under our streets and beneath the oceans; we mine our bitcoins with a great deal of electricity.

Manufacturing work tends to be hazardous or unpleasant in all sorts of ways. But it’s also associated with faster productivity growth and the greater possibility of technological upgrading. Here’s Andy Grove: “Abandoning today’s commodity manufacturing can lock you out of tomorrow’s emerging industry.” If a country gives up on manufacturing too early on, even if it’s very low value-add stuff, it also loses all the tacit knowledge and design expertise from a workforce familiar with industry. The US continues to retain the highest value-add work of R&D and marketing in many sectors; but a lot of the scaling expertise, supplier networks, and supply chain knowledge have dispersed to other shores. I predict over the long term that diminishes the country’s capacity to have the labor force ready to take advantage of scaling up a big, innovative technology; and it slightly reduces the chances that the country will have the talent to create it.

If a state has lost most of its jobs for electrical engineers, or nuclear engineers, or mechanical engineers, then fewer young people in that state will study those practices, and technological development in related fields slow down a little further. When I bring up these thoughts on resisting industrial decline to economists, I’m unsatisfied with their responses. They tend to respond by tautology (“By definition, outsourcing improves on the status quo”) or arithmetic (see: gains from comparative advantage, Ricardo). These kinds of logical exercises are not enough. I would like for more economists to consider a human capital perspective for preserving manufacturing expertise (to some degree).


I wonder if the so-called developed countries should be careful of their own premature deindustrialization. The US industrial base has faltered, but there is still so much left to build. Until we’ve perfected asteroid mining and super-skyscrapers and fusion rockets and Jupiter colonies and matter compilers, we can’t be satisfied with innovation confined mostly to the digital world.

Those who don’t mind the decline of manufacturing employment like to say that people have moved on to higher-value work. But I’m not sure that this is usually the case. Even if there’s an endlessly capacious service sector to absorb job losses in manufacturing, it’s often the case that these new jobs feature lower productivity growth and involve greater rent-seeking. Not everyone is becoming hedge fund managers and machine learning engineers. According to BLS, the bulk of service jobs are in 1. government (22 million), 2. professional services (19m), 3. healthcare (18m), 4. retail (15m), and 5. leisure and hospitality (15m). In addition to being often low-paying but still competitive, a great deal of service sector jobs tend to stress capacity for emotional labor over capacity for manual labor. And it’s the latter that tends to be more present in fields involving technological upgrading.

I read occasional arguments that liberal societies need to have a healthy level of engagement with its armed forces, or they risk revering but not understanding the military. I’d like to make a similar appeal for manufacturing. Until our world is much better built-up than the present, it’s too early to accept the diminishment of an industrial base, by which I mean little growth in output accompanied by a decline in the workforce. At a time when more tech companies are offering digital tools to industry, we should expect the number of people jumping in to take advantage of them to be increasing, not decreasing.

It’s sad that DuPont’s excellent slogan “Better living through chemistry” has been ironically twisted from a celebration of chemicals and plastics to enjoyment of recreational drugs. How far along is humanity in its progress toward its bright technological future? I submit that we’re less than 3 percent of where we should ultimately be. Let’s worry about premature deindustrialization in the developed world as well.


Here’s a bit more skepticism of service jobs. In an excellent essay on declining productivity growth, Adair Turner makes the point that many service jobs are essentially zero-sum. I’d like to emphasize and elaborate on that idea here.

There are plenty of service jobs that are meant to cancel out the efforts of other service jobs. One firm spends a few million dollars to hire a dozen ad agencies to convince you to purchase its car insurance policies; another firm hires a different dozen agencies and puts out other ads. One firm or person decides to sue another, creating the need for two sets of lawyers. One candidate attempts to raise a hundred million dollars to win an election, and the other side has to do the same, and meanwhile only one can win.

Worse, the zero-sumness is often asymmetric. A dozen hackers make a theft, and suddenly companies everywhere need to spend collective billions on staff or outside agencies to protect themselves. A few criminals plague a state, and suddenly the government needs to hire hundreds of officers to make people feel safe; or border agents and wall builders if it turns out the criminals were aliens. A few dozen people commit accounting fraud, and the ensuing uproar forces companies and banks to ramp up the size of their compliance departments by the tens of thousands.

Although manufacturing jobs can be wasteful, I don’t think it has this issue of being zero-sum.

I noted in my computer science piece that two of the big growth areas of US bachelors degrees have been healthcare and law enforcement. Much of the marginal growth has to deal with compliance—after all, in health care at least, the growth of new doctors has not accelerated. In addition, a lot of the marginal growth in financial services and higher education appears to be compliance-related as well.

Some of that is prompted by legislation. Without passing judgment on the overall merits of these new policies, I find them to be pretty remarkable as jobs programs. It almost feels like developed countries have shifted the focus of industrial policy to service jobs. If this was the principal aim of US policymakers, I find impressive that they’ve pulled this off in response to deindustrialization. Congress rises in my estimation.

Healthcare and finance are both high-margin industries, and I wonder if Congress will find another to take a more active role as a jobs provider. Technology, perhaps? Maybe something like hiring people to keep newsfeeds and search results free from dangerous content or fake news. In fact that’s something that sounds like it could well receive bipartisan support.


A Bloomberg piece prompts some of my questions about definite optimism and human capital. The current unemployment rate in Japan is 2.8 percent. Japanese millennials get to enjoy a fairly tight labor market, which means they ought to have their pick of company to work for. But few of them have an interest in switching jobs, because they want not high wages but perfect stability. The article attributes this risk aversion to lingering fears of the previous downturn. The country that lost a decade—or maybe two—has fostered a generation of youth highly averse to risk-taking. (Elsewhere in Bloomberg headlines: “Japan has the world’s gloomiest millennials.”)

By contrast, the article quotes a recruiter who says that China has a “fearless” employee base. When recruiters come around promising higher wages, Japanese millennials keep their heads down, while young Chinese are willing to try something new. Given that two generations of Chinese have never experienced recession, it might be that job hops don’t even feel like a risky move; there ought always be another opportunity waiting around the corner, so why not try something out for fit?

That theme dovetails into another of my recent pieces. I think it’s a puzzle that relatively few people major in computer science given how lucrative it is. After I wrote my piece, a great number of people responded that I’ve been focusing on the hangover of the 2001 dotcom bubble. Let’s say they’re right, i.e. the bubble drove a lot of people away from majoring in CS, such that the number of graduates in 2001 wasn’t surpassed until 2014. I see this as a pessimistic interpretation. It means that it took nearly 15 years for the number of graduates to recover to a previous high after a single, brief recession. (Meanwhile, the share of graduates remains below its ’01 high, because many more people are earning bachelors degrees today.)

It’s worrying that a recession was able to do all that. How many fewer startups have been founded, how many larger companies could have been better staffed, how many more VCs could have generated higher returns for LPs, if the field didn’t have to deal with this talent constraint caused by a brief recession? The lesson of both Japanese millennials and CS grads is that recessions leave deep psychological scars that hurt risk appetites for a much longer time than the downturn itself.

That lesson comes to mind when I read Andrew Batson on the hypothetical tradeoff between short-term and long-term growth in China. He suggests that in principle, it’s possible that China’s much-criticized debt-fueled stimulus policies are not hurting long-term income growth as much as people fear: “Officials could argue they do not need to spend time worrying about measures that might damage long-term productivity growth, since no one really knows what causes long-term productivity growth anyway, and are right to focus on preventing deep and damaging cyclical downturns.”

It’s straightforward to measure a recession’s effects on employment and output. But what if the psychological impact of a recession is much more severe than we thought, to the extent that it could make a dent in long-term productivity growth? If we accept the idea that recessions linger in the form of psychological scars, lower expectations, and greater risk aversion, then it makes more sense to do a lot to avoid them. And it weakens the Austrian case for recessions as healthy corrections that improve capital allocation, because they cause a great deal of unseen harm as well. If we treated definite optimism as a function in human capital and productivity growth, then we could be slightly more rigorous in considering the broader effects of recessions.


I submit that an underrated Trump phenomenon is how many people have been drawn to care about political scandal. I haven’t much changed the people I follow on Twitter, but my feed has gone something like 25 percent politics to 60 percent politics; I don’t have a Facebook, and I suspect that something similar happens there as well. So many people have become addicted to retweeting the very latest Trump embarrassment, or making identical jokes about it.

But what could be more boring?

This is the social risk: That the minds of many talented young people today will be permanently disfigured by this obsession with Trump embarrassments. The effect will persist when Trump is no longer in office. By that time, people will still be hypersensitive to whatever political news is happening at the moment, as they’re glued to social media looking for breaking jokes. Some people expressed this fear when George Bush was in the White House. I submit that it’s much more severe today: It’s Donald Trump, plus social media, and more cable news, in the midst of a flowering meme culture.

I confess guilt to taking pleasure in some of these memes myself. But I realize the glee is an unhealthy one, and that I have to break it before it breaks me. I entreat more people to consider their news consumption in these terms—most of us do not need to pay attention to the day-to-day goings on in the political world. There are too many sites and personalities that have completely re-oriented themselves to telling people how they ought to feel about the latest piece of news. I don’t blame them, because I think they’re delivering what we want. But we can change our preferences.

Call me a romantic, but I’d like everyone to think more about industrial lubricants, gas turbines, thorium reactors, wire production, ball bearings, underwater cables, and all the things that power our material world. I abide by a strict rule never to post or tweet about current political stuff; instead I try to draw more attention to the world of materials. And I’d like to remind people that there are many things more edifying than following White House scandals.


Let me be concrete. I have two suggestions on how to take on greater definite optimism to think more about technological future:

First, we can all try to engage more actively with the material world, not merely the digital or natural world. Go ahead and pick an industrial phenomenon and learn more about it. Learn more about the history of aviation, and what it took to break the sound barrier; gaze at the container ships as they sail into port, and keep in mind that they carry 90 percent of the goods you see around you; read about what we mold plastics to do; meditate on the importance of steel in civilization; figure out what’s driving the decline in the cost of solar energy production, or how we draw electricity from nuclear fission, or what it takes to extract petroleum or natural gas from the ground.

To be a bit more future-looking, consider what the technological civilization ought to look like in the year 2300. Then figure out what kinds of theoretical and practical breakthroughs people need to solve in the near future before we can get to there.

Second, we should ask for more direct, unironic celebrations of innovation in popular culture. That means, for example, shooting more science fiction movies that are not fixated on the ways that technology will kill us all. Let’s see more examples of invention, exploration, and risk-taking in film. And also more images of what the world of tomorrow will look like.

It might be a good philanthropic undertaking to create exciting visions of the future. I humbly beg the various generous people who open up their pocketbooks to consider funding culturally exciting projects. I’d like the altruistic millionaires and billionaires to step up funding of movies, books, World Fairs, murals, memes, whatever, to expand our imagination. More art, say, that depict societies of the future, like so much of what we had previously. Or focus the World Fairs to once again showcase applications of cutting edge technologies. Or figure out how to make cool videos of industrial processes that people are happy to watch online.

Perhaps the mighty industrialists and financiers who steer so much money towards think tanks to promote their goals can consider culture more often. Fewer op-eds on how people should feel about upcoming legislation; instead, more creation of cultural products that get people excited about the technological future. These kinds of efforts to promote definite optimism, rather than a continuous focus on never-ending political battles, might result in greater economic growth in the long run.


It’s time to synthesize this piece with my previous. That was about the destructive results that follow when we keep our gaze fixed on the people around us, instead of towards our own goals. When we get sucked into Girardian dynamics, people get too competitive, always trying to one-up another in the group, until they reach places that look totally extreme to the outside world. The way to avoid this Girardian conflict is to direct our gaze outwards to the tangible things of the world.

When we all have different things to be interested in, we can avoid the narcissism of small differences. I’m hopeful that greater interest in the industrial world would decrease the amount of Girardian conflict in society, because manufacturing and engineering have so many different niches. It’s not the only one, however. The essay is in part an exhortation that the world has many interesting things to focus on instead of each other.

Here’s one more point that I’d like to add on Girard at college: I wonder if to some extent current dynamics are the result of the liberal arts approach of “college teaches you how to think, not what to think.” I’ve never seen much data to support this wonderful claim that college is good at teaching critical thinking skills. Instead, students spend most of their energies focused on raising or lowering the status of the works they study or the people around them, giving rise to the Girardian terror that has gripped so many campuses.

That makes me wonder if encouraging creativity and critical thinking skills is possibly overrated at current margins. Ian Leslie’s book, Curious, makes the point that we shouldn’t be so pleased to offload so much of our memory to search engines, such that the most key skill is learning how to Google instead. So I’m starting to better appreciate the Leninist system of education in France and China, in which children are endlessly stuffed with information (especially in technical subjects) and then sorted through rounds and rounds of examinations. Kids may develop critical thinking skills more easily if they have a vast base of knowledge to work with, when they’ll be able to make connections of facts on their own, instead of being taught some interesting rules and not enough content to practice them. But I throw this out as a hypothesis, not as a strong conviction.

Here is an illustration of a satellite habitat from Seveneves.


A few last thoughts:

An excellent objection to my points about manufacturing is that many parents worked darn hard to make sure their kids didn’t take the same kinds of jobs, and told them as such. I concede once more that much of the work is unpleasant and hazardous. Still, at some margin, there could be too little encouragement to enter the field, especially through not knowing many people not in services. I wish that the mix of adults that a high school student can expect to be exposed to include more manufacturing workers and engineers.

The digital world is indeed a lot of fun, and it’s entirely wrong to deny that the sector has been innovative. Still, I wish to remind people that changes in the physical world drive a lot of living standard improvements. Given how many people struggle in low-end jobs, and how quickly a few major expenditures are getting more expensive, reminders that the internet is really good smacks today of “Let them eat iPhones!”

It’s striking how much Neal Stephenson’s novels maintain the importance of the material world. It’s not all digital wonder for him. I chuckled at the bit in Seveneves in which Stephenson blamed social media for civil disorder, cannibalism, and general social collapse.

I wouldn’t change much about The Martian movie. More like it, please. I’m cautiously optimistic for the movie adaptation of the Three Body Problem, due to be out later this year. There’s no way it can be as good as the book. But the series is driven by a fundamentally optimistic vision, and that’s refreshing. And instead of an alien civilization that’s 70 or 80 percent more advanced than humans, it asks why aliens should not be 10,000 times more advanced than humans. That’s fun to wonder about.

Stephenson’s Project Hieroglyph sounds like a great idea, I wish that there were more institutions like it: “Inspiration is a small but essential part of innovation, and science fiction stories have been a seminal source of inspiration for innovators over many decades. In his article entitled “Innovation Starvation,” Neal Stephenson calls for a return to inspiration in contemporary science fiction.” But it doesn’t seem to be very active. Anyone know if it’s still an ongoing concern?

The most important essay I read in the last month is by Lant Pritchett. He asks why the scarcest economic resources—entrepreneurial ability and technical talent—are going into automating an abundant resource: cheap labor. In the developed world, labor is expensive because of policy restrictions, and it is neither efficient nor equitable to use scarce technological talent to displace globally abundant workers.

Thanks to Michael Gibson for reading an early draft.

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Violence and the Sacred: College as an incubator of Girardian terror

I’ve written about René Girard’s ideas once before, to try my hand at identifying mimetic crises in the world of George R. R. Martin. Today I’d like to apply Girard’s ideas to another world in which people are driven to conflict over small differences and personal slights.

(Rather than attempting to explain Girard’s ideas in depth, I leave concessions to the reader, and point instead to discussions from the Raven Foundation and the IEP. If you’re looking for a quick introduction to the life of Girard, take a look at his obituary in the Times.)

Girard presents a model of human conflict that is Shakespearean, not Marxist. That is, he thinks that people are not engaged in class struggle, in which proletarians unite against the bourgeoisie; instead, people reserve horror and resentment for people most like themselves. Consider the origin of the ancient grudge laid out in the opening line of Romeo and Juliet: “Two houses, both alike in dignity…” The Montagues and Capulets fight not because they’re so different but because they’re so alike.

The closer we are to other people—Girard means this in multiple dimensions—the more intensely that mimetic contagion will spread. Alternatively, competition is fiercer the more that competitors resemble each other. When we’re not so different from people around us, it’s irresistible to become obsessed about beating others. Girard’s framework vastly improves Freud’s phrase “the narcissism of small differences.” It’s also a framework for Kissinger’s quip: “Academic politics are so vicious because the stakes are so small.”

Where should we expect Girard’s predictions for mimetic crises to run most rampant? At places where values are confused and people are much the same. To me, that description best fits one place in particular: the American college.

In the US, where I attended college, nearly everyone starts undergrad in the same way: After graduating from high school at age 18. When they start school, few people have a clear sense of the career path they’ll set on; it’s rare to meet a person who has high confidence of what they’ll end up doing, and even rarer to see someone who actually follows that plan. Instead, people happily confess that they don’t know what they’ll do, and that they’ll figure it out by trying different classes and by joining clubs, sports teams, fraternities, and so on.

None of this is bad, really. Unless you’re a Girardian.

It’s hard to construct a more perfect incubator for mimetic contagion than the American college campus. Most 18-year-olds are not super differentiated from each other. By construction, whatever distinctions any does have are usually earned through brutal, zero-sum competitions. These tournament-type distinctions include: SAT scores at or near perfection; being a top player on a sports team; gaining master status from chess matches; playing first instrument in state orchestra; earning high rankings in Math Olympiad; and so on, culminating in gaining admission to a particular college.

Once people enter college, they get socialized into group environments that usually continue to operate in zero-sum competitive dynamics. These include orchestras and sport teams; fraternities and sororities; and many types of clubs. The biggest source of mimetic pressures are the classes. Everyone starts out by taking the same intro classes; those seeking distinction throw themselves into the hardest classes, or seek tutelage from star professors, and try to earn the highest grades.

There’s very little external intermediation, instead all competitive dynamics are internally mediated. The prizes are so obvious. The big companies that come to career fairs soothingly assure high-status jobs; the speakers at convocation tell us that we too will become as successful as them one day; our peers hold leadership positions at clubs, get internships at exciting companies, and earn those chances to have lunch with the university’s president.

The lack of external mediation explains why objects of desire on campus can be seen to have such high worth. And why certain leadership positions on campus are heavily fought over, even though they don’t seem to have much influence. It also helps to explain why so many people enter into only a handful of fields.

Mimetic contagion magnifies small fights by making people focus on each other. These processes follow their own logic until they reach conclusions that look so extreme to the outside world. Once internal rivalries are sorted out, people coalesce into groups united against something foreign. These tendencies help explain why events on campus so often make the news—it seems like every other week we see some campus activity being labeled a “witch hunt,” “riot,” or something else that involves violence, implied or explicit. I don’t care to link to these events, they’re so easy to find. It’s interesting to see that academics are increasingly becoming the target of student activities. The Girardian terror devours its children first, who have tolerated or fanned mimetic contagion for so long.

Girard’s main mechanism for renunciation of metaphysical desire doesn’t seem to have a big presence on most campuses. I think that’s also the case for secular society in general. (As an aside, I’ve started to become curious if the rationality movement, broadly defined, is the secular answer to Girardian renunciation.) I invite Girard scholars to tell me how or if he saw secular ways for conflict to be resolved.

No one has ever asked me how one should escape mimetic contagion on campus. Still here’s my answer: If one must go to college, I advise cultivating smaller social circles. Instead of going to class and preparing for exams, to go to the library and just read. Finally, not to join a fraternity or finance club, but to be part of a knitting circle or hiking group instead.


René Girard’s most famous student did not take the threat of mimetic contagion lightly when he ran a company. When Peter Thiel was the CEO of PayPal, he tried to minimize mimetic contagion, possibly because the company was hiring a bunch of kids who’ve been socialized in elite colleges. Keith Rabois has recounted that as a manager, Thiel allowed everyone to work on one thing and one thing only. Rabois couches in terms of ridding distractions, but it’s clear that this is good Girardian practice. People will not feel mimetic envy if they cannot look at the work of others.

Thiel’s comments on management more generally are worth reading. The Girardian themes are clear if one looks for them: “If you were a sociopathic boss who wanted to create trouble for your employees, the formula you would follow would be to tell two people to do the exact same thing. That’s a guaranteed formula for creating conflict. If you’re not a sociopath, you want to be very careful to avoid this.”

From the same interview, here are his entertaining remarks on business schools: “The conceit of the MBA is that you don’t need to have any substance at all. It’s just this management science, and you can apply that equally well in a software company or an oil drilling company or a fashion company or a rocket company. That’s the bias I’d want us to cut against. So for the degree, people would learn substantive things and then on the side you’d pick up some business skills. But you wouldn’t treat the business degree as the central thing.

“I think one challenge a lot of business schools have is they end up attracting students who are very extroverted and have very low conviction, and they put them in this hothouse environment for a few years—at the end of which, a large number of people go into whatever was the last trendy thing to do. They’ve done studies at Harvard Business School where they’ve found that they largest cohort always went into the wrong field. So in 1989, they all went to work for Michael Milken, a year or two before he went to jail. They were never interested in Silicon Valley expect for 1999, 2000. The last decade their interest was housing and private equity.”


I haven’t watched much TV recently, but the new show I’ve liked best is *Big Little Lies* on HBO. Rich suburban moms, with desires mediated by their children, are incited towards violence against each other in gorgeous Monterey, California. Who can resist?

The parents have drawn their battle lines by the first episode. The Girardian themes get heavier and heavier throughout the series, until the astonishing finale, which culminates in violent murder. Mimetic contagion races through the group of mothers, who battle over progressively higher stakes, until the show ends with communal violence against a mysterious outsider, the death of whom unites the community in frolicking harmony. The murder takes place during a masquerade-like public performance, over flames, alcohol, and music; the perpetrators each have a hand in violence; scenes of a beating are interspersed with the breaking of Pacific waves on rocks in all directions. That murder unites feuding groups under a lie, and previously lingering questions are papered over, without resolution nor need of one.

Isn’t this a fairly compelling depiction of a Girardian war and peace? I want to only gesture at another question: The parents make every effort to spare pain from the children, but isn’t it the case that the kids see things more clearly than the adults?

I liked the show a lot. Apart from the Girardian themes, the shots of Monterey are beautiful, the characters are compelling, and there are many funny moments. Do watch.


Here’s an article about how literal memes spread on campus. Apparently many colleges have Facebook meme groups sharing jokes particular to that school. The dankness of one’s meme reflects the high quality of the school.

Elsewhere in meme culture on campus, Harvard recently rescinded offers to at least ten incoming freshmen because they shared memes that were either sexually explicit or racist. This story is just too good. The college set up a Facebook group for the Class of 2021. People started to befriend each other and created a meme group. Unsatisfied with the lightheartedness of most memes, some members started a “dark” group, which created these unacceptable memes. To gain membership in this dark group, first one had to post a risqué meme in the general group.

It’s amazing that even before they met each other, the class of ’21 was already testing its members’ limits, sorting themselves into elite sections, and trying to outdo each other in explicitness. Instead of being focused on real goals, their gaze is directed at each other, and each concentrates on one-upping the previous go. Internally every move is so compelling; externally the situation turns too extreme.


If one is a Girardian, then there is perhaps no greater catastrophe than the growing tendency of the American meritocracy to be incubated in elite colleges. Is it not worth fretting that the people running the country are coming in higher numbers from these hothouse environments at a young age, where one is inflamed to compete over everything and where tiny symbolic disputes seem like life and death struggles? How much of the governing class has fully adopted this attitude, and to what extent can we see our recent political problems to be manifestations of this tendency?

I want to make a point that I’ve brought up once before: Because acts of youth are more easily recalled, our future elites will be made up of people who’ve managed to keep their records unsullied. What happens when most records of our life are accessible via Facebook, Snapchat, Twitter, or blogs? I think that makes it so that our future leaders will be selected for whether they were willing to be really boring in their 20s, who have no recorded indiscretions that might derail a Senate confirmation. Are these the people we want to be governed by?

I liked this piece by Mihir Desai: “The Trouble with Optionality,” published in the Harvard Crimson: “The Yale undergraduate goes to work at McKinsey for two years, then comes to Harvard Business School, then graduates and goes to work Goldman Sachs and leaves after several years to work at Blackstone. Optionality abounds!

“This individual has merely acquired stamps of approval and has acquired safety net upon safety net. These safety nets don’t end up enabling big risk-taking—individuals just become habitual acquirers of safety nets. The comfort of a high-paying job at a prestigious firm surrounded by smart people is simply too much to give up.”


I think mimetic contagion is worst in US colleges. In Canada, people apply to major in certain subjects; if they earn admission, it’s not so easy to switch, so there’s less of this intellectual loitering one finds on American campuses. And when I attended a German university, students told me that German 18-year-olds don’t usually go directly to university after high school. Instead, they take a year off to travel, work or volunteer. These experiences create difference and maturity, thus better inoculating people against mimetic contagion.

I wonder about graduate schools in the US. I think they’re more free from Girardian conflict, though I’m not sure by how much. The place where one expects people to be most susceptible to mimetic contagion—business school—is composed of people with somewhat distinctive starting points and end goals. Those who start MBA programs usually vary more by age and have a clearer idea of what they want, at least relative to undergrads.

I submit that anyone who accepts the ideas of Girard should be extremely wary of being in anything resembling the college environment. It might be too much to ask high school students to read I See Satan Fall Like Lightning or Things Hidden Since the Foundation of the World. But anyone who’s familiar with these works ought to feel grand Girardian horror to contemplate exposure to these dynamics in college-like corporate environments or graduate schools.

An unhappy study shows that one in two PhD students experiences psychological distress, and that one in three is at risk of a common psychiatric disorder.


The two best novelistic modelers of mimetic desire are Marcel Proust and Stendhal. (And as I’ve written before, George R. R. Martin isn’t bad either.) I feel that I’d have said this even if the triangular desire in these novels weren’t pointed out by Girard himself.

Having Girard in the back of one’s mind is helpful for reading Proust in particular. His novels are like agonized letters. At first I found his transitions bewildering and his anecdotes too tedious to follow. Afterwards I felt a craving for his daily epiphanies, which really cannot be rivaled in their acuity.

It’s fun to read Proust with a particularly Girardian question in mind: Does our narrator ever have spontaneous desires of his own? Each episode of his various obsessions starts with someone else pointing out that a particular person is worth acquaintance or a piece of art is worth appreciation. The best examples are the actress La Berma and the painter Elstir. Once someone whispers to our narrator that he is in the presence of an exceptional talent, he feels the greatest sense of worship. If there are any instances in which our narrator comes to desire without a mediator, I’ve yet to find them.

At some other point I’d like to write about Girard and Stendhal, as well as more generally the validity of extracting lessons of mimetic contagion from literature.


To me, America’s greatest feature is that it allows people to embrace mimesis or free themselves from it. Society allows people of both types to thrive. It’s not like in other countries, where people are forced to socialize in certain ways or find it too easy to extricate themselves from society.

I want to make clear that mimetic tendencies aren’t all bad. Two types of people have the greatest capacity for learning: Those who are intensely mimetic and those who are incapable of mimesis.

Thiel gets at the learning capacity of the latter when he makes a point about Aspergers in the Valley: “If you’re less sensitive to social cues, then you’re less likely to do the same thing as everyone else around you. If you’re interested in making things or programming computers, you’ll be less afraid to pursue these activities single-mindedly and thereby become incredibly good at them.”

Meanwhile, those who are susceptible to mimesis can be excellent learners too. They’re better able to pick up social cues than anyone else, and they have a greater capacity to please. Mimetic ability manifests in “conscientiousness,” such a popular trait these days. They have a clearer sense of who successful models are, and they have the greatest eagerness to learn from them.

I submit that the key to success is to be aware of one’s tendencies, either to be very mimetic or not at all. Then one can harness these tendencies to maximize learning, and not spend all one’s time indulging solitary whims or be governed by mimetic contagion. It’s possible that the greatest possible amount of learning comes as a result of fluctuating between these extremes. And I feel that kind of fluctuation is possible only in America, not really anywhere else I’ve lived—Canada, China, Germany, and now Hong Kong.


A few last thoughts:

If you’re looking for an overview of René Girard’s work, I recommend Wolfgang Palaver’s primer.

The best case against my suggestion that college generates intense Girardian terror is the fact that most people remember their college years fondly. I concede that my analysis may be badly wrong. First, that I’m in error, in my analysis of Girard; second, that Girard is in error, in his analysis of the human condition; third, that more people are immune to mimetic contagion that this piece suggests; or fourth, that the warm light of memory makes people forget about these dynamics, so that they remember the peaks of what made college fun instead.

For academic year 2017-18, the school I attended—Rochester—will charge a $67,708 to incoming freshmen. At least I think that’s the case when I tally fees from this page. Curiously, the school offers breakdown of costs, but not their sum. That’s confusing because some fees are mandatory while others are not. That’s not the extent of total fees; the school mandates people to purchase health insurance, and if you take the one offered by the university, a freshman’s charge comes to a cool $70,000 a year. Other private schools are drifting to $70,000. For the upcoming academic year, Harvard’s billed costs are $65,609, Yale is at $66,900, Princeton is at $67,100. I’m sure you can find less well-ranked schools that present a higher bill.

Here’s an observation from Gonzalo Fernández de la Mora: ”One may admit to pride, avarice, lust, anger, gluttony, and laziness… There is only one capital sin no one admits to: envy.” Most New Yorker cartoons are Girardian, this one especially so: “It’s not enough that dogs succeed, cats must also fail.”

I’ll end with a quote from I See Satan Fall Like Lightning: “Mimetic desire enables us to escape from the animal realm. It is responsible for the best and the worst in us, for what lowers us below the animal level as well as what elevates us above it. Our unending discords are the ransom of our freedom.

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Why do so few people major in computer science?

In 2005, about 54,000 people in the US earned bachelor’s degrees in computer science. That figure was lower every year afterwards until 2014, when 55,000 people majored in CS. I’m surprised not only that the figure is low; the greater shock is that was flat for a decade. Given high wages for developers and the cultural centrality of Silicon Valley, shouldn’t we expect far more people to have majored in computer science?

This is even more surprising when we consider that 1.90 million people graduated with bachelor’s degrees in 2015, which is 31% higher than the 1.44 million graduates in 2005. (Data is via the National Center for Education Statistics, Digest of Education Statistics) That means that the share of people majoring in computer science has decreased, from 3.76% of the all majors in 2005 to 3.14% of all majors in 2015. Meanwhile, other STEM majors have grown over the same period: “engineering” plus “engineering technologies” went from 79,544 to 115,096, a gain of 45%; “mathematics and statistics” from 14,351 to 21,853, a gain of 52%; “physical sciences and science technologies” from 19,104 to 30,038, a gain of 57%; “biological and biomedical sciences” from 65,915 to 109,896, a gain of 67%. “Computer sciences and information technologies?” From 54,111 in 2005 to 59,581 in 2015, a paltry 10.1%.

If you’d like a handy chart, I graphed the growth here, with number of graduates normalized to 2005.

(Addendum: Several people have pointed out that 2005 was an idiosyncratic year, and that I should not rebase figures from that date. I graphed it from this point because in the NCES dataset I’ve been using breaks out the data by one-year intervals only since 2005. Scroll to the end of the post to see data on graduates from 1975, which shows clearly that 2005 was a peak for graduates. A more full discussion would involve the impact of the dotcom bubble; see below.)

I consider this a puzzle because I think that people who go to college decide on what to major in significantly based on two factors: earning potential and whether a field is seen as high-status. Now let’s establish whether majoring in CS delivers either.

Are wages high? The answer is yes. The Bureau of Labor Statistics has data on software developers. The latest data we have is from May 2016, in which the median annual pay for software developers is $106,000; pretty good, considering that the median annual pay for all occupations is $37,000. But what about for the lowest decile, which we might consider a proxy for the pay of entry level jobs that fresh grads can expect to claim? That figure is $64,650, twice the median annual pay for all occupations. We can examine data from a few years back as well. In 2010, median pay for software developers was $87,000; pay at the lowest decile was $54,000. Neither were low, now both have grown.

Now we can consider whether someone majoring in computer science can expect to join a high-status industry. That’s more difficult to prove rigorously, but I submit the answer is yes. I went to high school during the late-aughts, when the financial crisis crushed some of Wall Street’s allure, and Silicon Valley seemed glamorous even then. Google IPO’d in 2004, people my age all wanted to buy iPhones and work for Steve Jobs, and we were all signing up for Facebook. People talked about how cool it would be to intern at these places. One may not expect to end up at Google after college, but that was a great goal to aspire to. Industries like plastics or poultry or trucking don’t all have such glittering companies that attract.

I tweeted out this puzzle and received a variety of responses. Most of them failed to satisfy. Now I want to run through some common solutions offered to this puzzle along with some rough and dirty argument on what I find lacking about them.

Note: All data comes from the Digest of Education Statistics, Department of Education.


1. Computer science is hard. This is a valid observation, but it doesn’t explain behaviors on the margin. CS is a difficult subject, but it’s not the only hard major. People who proclaim that CS is so tough have to explain why so many more people have been majoring in math, physics, and engineering; remember, all three majors have seen growth of over 40% between 2005 and 2015, and they’re no cakewalks either. It’s also not obvious that their employment prospects are necessarily more rosy than the one for CS majors (at least for the median student who doesn’t go to a hedge fund). Isn’t it reasonable to expect that people with an aptitude for math, physics, and engineering will also have an aptitude for CS? If so, why is it the only field with low growth?

On the margin, we should expect high wages to attract more people to a discipline, even if it’s hard. Do all the people who are okay with toiling for med school, law school, or PhD programs find the CS bachelor’s degree to be unthinkably daunting?

2. You don’t need a CS degree to be a developer. This is another valid statement that I don’t think explains behaviors on the margin. Yes, I know plenty of developers who didn’t graduate from college or major in CS. Many who didn’t go to school were able to learn on their own, helped along by the varieties of MOOCs and boot camps designed to get them into industry.

It might be true that being a software developer is the field that least requires a bachelor’s degree with its associated major. Still: Shouldn’t we expect some correlation between study and employment here? That is, shouldn’t having a CS major be considered a helpful path into the industry? It seems to me that most tech recruiters look on CS majors with favor.

Although there are many ways to become a developer, I’d find it surprising if majoring in CS is a perfectly useless way to enter the profession, and so people shun it in favor of other majors.

3. People aren’t so market-driven when they’re considering majors. I was a philosophy major, and no I didn’t select on the basis of its dazzling career prospects. Aren’t most people like me when it comes to selecting majors?

Maybe. It’s hard to tell. Evidence for includes a study published in the Journal of Human Capital, which suggests that people would reconsider their majors if they actually knew what they could earn in their associated industries. That is, they didn’t think hard enough about earning potentials when they were committing to their majors.

We see some evidence against this idea if we look at the tables I’ve been referencing. Two of the majors with the highest rates of growth have been healthcare and law enforcement. The number of people graduating with bachelor’s degrees in “health professions and related programs” more than doubled, from 80,865 in 2005 to 216,228 in 2015. We can find another doubling in “homeland security, law enforcement, and firefighting,” from 30,723 in 2005 to 62,723 in 2015. Haven’t these rents-heavy and government-driven sectors been pretty big growth sectors in the last few years? If so, we can see that people have been responsive to market-driven demand for jobs.

(Sidenote: if we consider the pipeline of talent to be reflective of expectations of the economy, and if we consider changes in the number of bachelor’s degrees to be a good measure of this pipeline, then we see more evidence for Alex Tabarrok’s view that we’re becoming a healthcare-warfare state rather than an innovation nation.)

In the meantime, I’m happy to point out that the number of people majoring in philosophy has slightly declined between 2005 to 2015, from 11,584 to 11,072. It’s another sign that people are somewhat responsive to labor market demands. My view is that all the people who are smart enough to excel as a philosophy major are also smart enough not to actually pursue that major. (I can’t claim to be so original here—Wittgenstein said he saw more philosophy in aerospace engineering than he did in philosophy.)

4. Immigrants are taking all the jobs. I submit there are two ways to see that immigrants aren’t meeting all the marginal demand. First, most immigrants who come to the US to work are on the H1B visa; and that number has been capped at 65,000 every year since 2004. (There are other visa programs available, but the H1B is the main one, and it doesn’t all go to software engineers.) Second, rising wages should be prima facie evidence that there’s a shortage of labor. If immigrants have flooded the market, then we should see that wages have declined; that hasn’t been the case.

To say that immigrants are discouraging people from majoring in CS requires arguing that students are acutely aware of the level of the H1B cap, expect that it will be lifted at some point in the near future, and therefore find it too risky to enter this field because they think they’ll be competing with foreign workers on home soil. Maybe. But I don’t think that students are so acutely sensitive to this issue.

5. Anti-women culture. Tech companies and CS departments have the reputation of being unfriendly to women. The NCES tables I’m looking at don’t give a breakdown of majors by gender, so we can’t tell if the shares of men and women majoring in CS has differed significantly from previous decades. One thing to note is that the growth of people earning CS majors has been far below the growth of either gender earning bachelor’s degrees.

More women graduate from college than men. (Data referenced in this paragraph comes from this table.) In 1980, each gender saw about 465,000 new grads. Since then, many more women have earned degrees than men; in 2015, 812,669 men earned bachelor’s degrees, while 1,082,265 women did. But since 2005, the growth rate for women earning bachelor’s has not significantly outpaced that of men. 32.5% more men earned bachelor’s degrees in the previous decade, a slightly higher rate than 31.5% for women. It remains significant that women are keeping that growth rate for over a higher base, but it may be that it’s no longer the case that their growth can be much higher than that of men in the future.

What’s important is that the growth rate of 30% for both genders is below that of 10% for CS majors over this time period. We can’t pick out the breakdown of genders from this dataset, but I’d welcome suggestions on how to find those figures in the comments below.

6. Reactionary faculty. The market for developers isn’t constrained by some guild like the American Medical Association, which caps the number of people who graduate from med schools in the name of quality control.

CS doesn’t have the same kind of guild masters, unless we want to count faculty to be serving this function on their own. It could be that people serving on computer science faculties are contemptuous of people who want high pay and the tech life; instead they’re looking for the theory-obsessed undergraduate who are as interested in say Turing and von Neumann as much as they are. So in response to a huge new demand for CS majors, they significantly raise standards, allowing no more than say 500 people to graduate if a decade ago only 450 did. Rather than cater to the demands of the market, they raise standards so that they’re failing an even higher proportion of students to push them out of their lovely, pure, scholarly field.

I have no firsthand experience. To determine this as a causal explanation, we would have to look into how many more students have been graduating from individual departments relative to the number of people who were weeded out. The latter is difficult to determine, but it may be possible to track if particular departments have raised standards over the last few decades.

7. Anti-nerd culture. Nerds blow, right? Yeah, no doubt. But aren’t the departments of math, physics, and engineering also filled with nerds, who can expect just as much social derision on the basis of their choice? That these fields have seen high growth when CS has not is evidence that people aren’t avoiding all the uncool majors, only the CS one.

8. Skill mismatch and lack of training from startups. This is related but slightly different to my accusation that CS faculty are reactionaries. Perhaps all the professors are too theoretical and would never make it as coders at tech companies. Based on anecdotal evidence, I’ve seen that most startups are hesitant to hire fresh grads, instead they want people to have had some training outside of a college. One also hears that the 10X coders aren’t that eager to train new talent; there isn’t enough incentive for them to.

This is likely a factor, but I don’t think it goes a great length in explaining why so few people commit to majoring in the field. Students see peers getting internships at big tech companies, and they don’t necessarily know that their training is too theoretical. I submit that this realization should not deter; even if students do realize this, they might also know they can patch up their skills by attending a boot camp.

9. Quality gradient. Perhaps students who graduate from one of the top 50 CS departments have an easy time finding a job, but those who graduate from outside that club have a harder time. But this is another one of those explanations that attributes a greater degree of sophistication than the average freshman can be observed to possess. Do students have an acute sense of the quality gradient between the best and the rest? Why is the marginal student not drawn to study CS at a top school, and why would a top student not want to study CS at a non-top school, especially if he or she can find boot camps and MOOCs to bolster learning? I would not glance at what students do and immediately derive that they’re hyperrational creatures.

10. Psychological burn from the dotcom bubble. Have people been deeply scarred by the big tech bubble? It bursted in 2001; if CS majors who went through it experienced a long period of difficulty, then it could be the case that they successfully warned off younger people from majoring in it. To prove this, we’d have to see if people who graduated after the bubble did have a hard time, and if college students are generally aware of the difficulties experienced by graduates from previous years.

11. No pipeline issues anymore. In 2014, the number of people majoring in CS surpassed the figure in 2005, the previous peak. In 2015, that figure was higher still. And based on anecdotal evidence, it seems like there are many more people taking CS intro classes than ever before. 2014 corresponds to four years after The Social Network movie came out; that did seem to make people more excited for startups, so perhaps tech wasn’t as central then as it seems now.

I like to think of The Social Network as the Liar’s Poker of the tech world: An intended cautionary tale of an industry that instead hugely glamorized it to the wrong people. The Straussian reading of these two works, of course, is that Liar’s Poker and The Social Network had every intention to glamorize their respective industries; the piously-voiced regrets by their creators are absolutely not to be believed.

Even if the pipeline is bursting today, the puzzle is why high wages and the cultural centrality of Silicon Valley have not drawn in more people in the previous decade. Anyone who offers an argument also has to explain why things are different today than in 2005. Perhaps I’ve overstated how cool tech was before 2010.


A few last thoughts:

If this post is listed on Hacker News, I invite people to comment there or on this post to offer discussion. In general, I would push on people to explain not just what the problems are in the industry, but how they deter college students from pursuing a major in CS. College freshmen aren’t expected to display hyperrationality on campus or for their future. Why should we look for college students to have a keen appreciation of the exponential gradient between different skill levels, or potential physical problems associated with coding, or the lack of training provided by companies to new grads? Remember, college students make irrational choices in major selection all the time. What deters them from studying this exciting, high-wage profession? Why do they go into math, physics, or engineering in higher numbers instead?

I wonder to what extent faculties are too strict with their standards, unwilling to let just anyone enter the field, especially for those who are jobs-minded. Software errors are usually reversible; CS departments aren’t graduating bridge engineers. If we blame faculty, should people be pushing for a radical relaxation/re-orientation of standards in CS departments?

Let’s go to the top end of talent. Another question I think about now: To what extent are developers affected by power law distributions? Is it the case that the top say 25 machine learning engineers in the world as worth as much as the next 300 best machine learning engineers together, who are worth as much as the next best 1500? If this is valid, how should we evaluate the positioning of the largest tech companies?

Perhaps this is a good time to bring up the idea that the tech sector may be smaller than we think. By a generous definition, 20% of the workers in the Bay Area work in tech. Matt Klein at FT Alphaville calculates that the US software sector is big neither in employment nor in value-added terms. Software may be eating the world, but right now it’s either taking small bites, or we’re not able to measure it well.

Finally, a more meditative, grander question from Peter Thiel: “How big is the tech industry? Is it enough to save all Western Civilization? Enough to save the United States? Enough to save the state of California? I think that it’s large enough to bail out the government workers’ unions in the city of San Francisco.”

Thanks to Dave Petersen for offering helpful comments.


Addenda, May 30th:

I’m pleased that this post has generated more discussion here in the comment section, on Hacker News, Reddit, and on Twitter. On Twitter, Evan Soltas pointed to an article from Eric Roberts, a professor at Stanford, discussing this question from a longer term view.

Several people remarked that my rebasing of majors to 2005 is misleading because of the impact of the dotcom bubble. I only gestured at it in the post above, but it probably explains a big chunk of why the number of CS majors hasn’t risen. So here’s a more full chart, from Eric Roberts’ article, with the number of CS majors starting from 1975.

Wow, the number of people graduating with CS degrees is really cyclical. The first peak in 1985 corresponds to the release of the IBM Personal Computer. The second peak corresponds to the 2001 dotcom bubble. I agree now that the ’01 bubble explains a lot of the decline afterwards; people graduated into a bad job market and that scared many students away. That year, however, may have been the worst of it; by 2005, Google had IPO’d, Facebook was spreading on campuses, the iPod was a success, and the iPhone would be released two years later. Those companies drew students back into studying CS, and we can see that from the rise again in 2009.

This is a neat story, but still I have to confess some surprise. Should it take 15 years before the popping of the bubble before we see that college students are graduating with the same degrees again? I guess so, and I’m interested if other industries have experienced a similar lag. Were people entering school say in 2003 acutely aware of how badly fresh graduates were suffering? Were they very well aware of then market conditions, and decided that things were too risky? Why didn’t freshmen/sophomores course correct earlier when they saw that the bubble had bursted?

Elsewhere, Matt Sherman points out this survey from Stack Overflow, which shows that three-quarters of developers have a bachelor’s degree or above, alongside much other interesting data. Alice Maz and an email correspondent remark that people decide on majors because they’re driven by fear of failure, not for high wages; that explains why so many people are fighting for med school spots. I like that Bjoern Michaelsen and commenters below have pointed out that developers suffer from significant skill depreciation and limited job security; I suppose that this is stuff that undergrads are able to intuit. And several people have remarked on mid-aughts fears that all software development would be outsourced to India; I had been unaware of the strength of this fear.

I’d like to finally remark that this could be an interesting project for more serious researchers to pick up. I wrote this out of fun on my leisure time, and invite others to study how cyclical demand for this major is, what the supply constraints are, and the quality gradient between the developers. Someone more serious than me can also discuss how the NCES aggregates different majors in these categories; perhaps a more granular breakdown is more helpful. Wage data especially might be helpful to overlay here. In the meantime, I invite people to keep commenting here.

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Reflections from an unglobalized part of the world

It hasn’t been very long since I’ve moved to Hong Kong. Something I find odd but a relief is how familiar this city feels, even though I’ve not spent time here before. Coming from San Francisco and Manhattan, I find this city pretty straightforward to navigate. I don’t mean only in terms of finding my way through the streets—after all, most of the city is squeezed along a narrow strip of land. Instead, nothing is very challenging about going to the shops, finding food, and taking the subway.

This is not the case in Kunming, in Yunnan province, where I’ve just spent a few weeks. I found it much more difficult to make sense of Kunming than Hong Kong, even though I was born in Kunming, grew up there until age 7, and visit every few years. Hong Kong feels so far away from New York and San Francisco, two other thoroughly globalized cities.

We’re all traveling to more places now, but I wonder if their novelty is limited by our tendency to travel to them in all the same ways. We use online booking to find hotels close to the city center, Yelp for restaurants nearby, and grab coffee in cafés that frankly all feel the same at this point. These rules don’t apply so neatly in Kunming. That city is a special place, here are some of my thoughts on an unglobalized part of the world, a description I mean mostly as praise.


Kunming is the capital of Yunnan province, far in the southwest of China, which borders Vietnam, Laos, and Cambodia. My love for Yunnan starts with the name: 云南, the characters for “Clouds” and “South.” South of the Clouds: It’s romantic enough of a name that Starbucks copyrighted it for a blend of its beans.

A few of Yunnan’s towns turn out to be popular with tourists, namely Dali, Lijiang, and Shangri-La. One can easily find accounts of their scenic or cultural value, I don’t care to recount them here. Instead I want to discuss the distinctiveness of Yunnan relative to the rest of China.

First of all, Yunnan is far from the rich coastal provinces. Not only is it distant from the most developed parts of the country, it’s heavily mountainous, which significantly increases its inaccessibility. (High speed rail came to Kunming only by the end of 2016, after arduous track construction through tunnels and over mountains.) The province had been an independent kingdom until around the 13th century, when it joined the fold of the Yuan Dynasty through Mongol conquest. Yunnan is still the most ethnically diverse province of China, home to large portions of non-Han peoples.

The province is so far removed that locals like to work into speech that Beijing is far away. For example: “That apartment is so far from downtown that it might as well be in Beijing.” I think the phrase “The mountains are high and the emperor is far away” is better adapted for Yunnan than anywhere else.

If you’re looking for modern developed China, Yunnan is not the place to go. The air there is good, without particulate from industry, though it can get dusty. It’s far from ocean ports, highly dependent on tourism, and Kunming’s income levels are far below that of other major cities. Few people speak English. Much of the province is reliant on tobacco or tea cultivation. In the city, property drives a great deal of local growth.


My trips everywhere are organized around eating. The most memorable meal I had on this visit was at a tofu restaurant. It was in Chenggong, a new town nearby, to which Kunming recently moved its municipal government and universities. (Chenggong used to feature front and center when journalists covered Chinese ghost cities, an infamy I think it has outgrown.) More precisely, the restaurant was situated in a preserved village in Chenggong, one famous for making traditional tofus. Not only where the three tofu dishes of extraordinary quality, the hams, meat buns, soy milk, and greens were all cooked perfectly as well.

The government allowed this village to stay put in spite of commercial development all around it. Once you’re inside, it feels totally cut off from the rest of the city, much like when one is in a hutong. The village has three narrow streets, each barely enough for two cars to squeeze through side by side, and they all have to accommodate pedestrians as well. The restaurant is at the end of one of these winding roads, which brings you past through all the local establishments, until excellent tofu improbably awaits.

The quality of the meal combined with the difficulty of accessing it has much been on my mind, and it’s the main prompt for writing this post. To this day I’ve no idea what the place is called. You won’t find its website. It’s not in the tour guides. And the locals who go won’t be writing about it for you on Yelp.

And to a large extent, this was not an exceptional experience in terms of culinary revelation. In fact, many of the best places I’ve eaten at were like this to some extent. I found my favorite meals in mundane neighborhoods, areas very residential or difficult to get to from the city center. I was able to find these places only because my relatives, all of whom were born in Kunming, knew about them and took me. If I were not with locals, I doubt I’d have any idea these places existed.


My posts are full of idle generalizations, and I’m not afraid this one will be driven by another. Visiting Kunming has made me think more about isolation, and how that can be an asset for learning and discovery.

As part of his idea of “innovation starvation,” Neal Stephenson has written on how it’s become much easier to be discouraged from trying various things. If one comes up with a novel idea, it’s very common to search on the Internet to see if it’s been tried before. And usually it looks like it sort of has. That’s typically discouraging, and one drops the idea of developing something novel.

Here’s Stephenson: “What if that person in the corner hadn’t been able to do a Google search? It might have required weeks of library research to uncover evidence that the idea wasn’t entirely new — and after a long and toilsome slog through many books, tracking down many references, some relevant, some not. When the precedent was finally unearthed, it might not have seemed like such a direct precedent after all. There might be reasons why it would be worth taking a second crack at the idea, perhaps hybridizing it with innovations from other fields.”

If the map is full of blank spaces, it becomes exciting to discover new lands. That’s risky: Sometimes you get shipwrecked, sometimes your crew mutinies, sometimes you discover vast treasures of spice and gold. On the other hand, if satellites tell you that the world is fully mapped, or that Google tells you that your idea has been tried before, maybe you give up on adventure.

I have only a hazy understanding of Albert Hirschman’s ideas on development, but I think he’s written on something similar. If entrepreneurs or planners fully realize how finishing a project will be, whether that’s starting a firm or building a road, they may not start it at all. But they don’t realize that, so they get started, and then find it too difficult to turn back. And in most cases, the world is better off for their efforts.

If you don’t want people to be discouraged, maybe it’s better they don’t know of all the development already out there. The tradeoff is sometimes you waste the efforts of people who re-invent various wheels. But from a learning point of view, that may not be so negative. I submit that the process of manually working through solved problems is an underrated learning experience. Sometimes I re-do manual calculations of math problems usually trivial to solve; I used to make a habit out of re-typing various magazine articles (usually from the New Yorker) because it made me hyperaware of sentence construction; and one of the most valuable things I did as a musician was to copy whole swathes of sheet music. Rote copying drew derision, and nonetheless I regret not doing it very much anymore.


If you want to cultivate enthusiasm for innovation, I submit it’s better not to know of all the solved problems out there. Stephenson calls this “Galapagan isolation.” Isolation breeds boredom and guilelessness; it encourages a belief that there are still secrets left to discover in the world.

Thiel has used an entire lecture to remind us the importance of belief in secrets: “The people who actually solve hard problems are people who believe in secrets. If you believe something is hard, you might still think you can do it. You’ll try things, and maybe you’ll succeed. But if you think something is impossible, you won’t even try.”

I’m not saying that Kunming is a great place to become an entrepreneur. In fact it has a poor track record of innovation. But growing up there possibly brings you to the optimal point between isolation and exposure, more so than say Greenwich Village. Yunnan is isolated and inward-looking. That helps to instill a sense of self-abasement that prompts one to think that much more of the world is out there; and when one eventually gets to a large city, it may be easy to feel disappointment that it’s not as exciting as the fantasy constructed by imagination. Why not discover, experiment, and consider that the status quo isn’t necessarily great?

Most of all we should avoid this tendency identified by Thiel: “People are increasingly pessimistic about the existence of new and interesting things. Can we go to the moon? We’ve done that already. Mars? Impossible, many people say. What about chemistry?… The periodic table seems pretty set. It may be impossible to discover anything new there. The frontier is closed. There is nothing left to discover.”

I like discovery-hunger, although I admit that life in Kunming offers too many leisures to sate various hungers. I’d refine my argument in favor of isolation to suggest it’s better to grow up in distant places before you move to central ones; some frustration at not having easy access to information is helpful to encourage deeper exploration. An isolated place should have enough outside exposure, while offering a great deal of boredom, in order to induce people to go out and explore. At its best, isolationism induces the sense that many people far away are much smarter than you, and that you should be learning voraciously from the rest of the world. It should also encourage disappointment with the status quo, and an optimism that one can change it.

At this point it may be relevant to bring up that the most famous person from Yunnan is Zheng He. He was the eunuch who commanded the imperial treasure fleets that sailed from China to India and Africa, before the Ming emperors halted ocean expeditions.


Belief in secrets and a capacity for wonder manifests in non-entrepreneurial ways as well. Here are a few instances of that in Kunming:

Food supply chains are short, which means that what’s on the market is heavily seasonal. So people have different things to look forward to throughout the year, and they don’t expect that any particular fruit or vegetable will be around for long. Instead of looking for blueberries and strawberries year-round, people find a constant source of delight to discover that something has returned to market.

Mushroom picking is a good encapsulation of the exploratory tendencies of Yunnanese. Given its high elevation, plentiful trees, and mysterious other factors, Yunnan produces some of the best mushrooms in the world. I’ve gone on mushroom-picking expeditions, and I find them to be an excellent source of lessons of risk/reward tradeoffs. One might well find an extraordinarily delicious kind; one might well get poisoned. I’ve experienced both, and while I’m able to I shall continuing going on these adventures.

Belief in secrets can breed a hope for easy solutions, and that’s the flip side of the coin. For example, it might breed the lack of cynicism that makes people seek salvation through a cult; or to place faith in miracle ingredients in medicines; or fall for get-rich-quick schemes. I observe these tendencies in Kunming too.

(The front gates of Dali, a pretty town in Yunnan.)


Day-to-day life in China is rewarding, but here’s something I’m often annoyed by: Cars have right of way. Pedestrians must yield at crosswalks when cars turn, on sidewalks when cars exit from lots, at intersections not governed by lights.

There are too many times when, midway through crossing the street, that you see incoming traffic coming at alarming speed, and you realize that you’ve taken your life into your own hands. In the city, one might not have the luxury of walking through the streets deep in thought, pondering say the latest food revelation. Frankly it’s appalling, and enough to get you to sign on to the #BanCars movement.

Then again, after some thought, one considers that car right-of-way really is the efficient Coasean solution here. Given the number of pedestrians, it’s correct to place the cost on those who can stop most efficiently. Otherwise there would be no way for cars, buses, or bikes to get around at all.

Here’s a note on public transit in Kunming: There’s a good network of buses, but not much of a subway system. Kunming has been one of the largest cities in China to have been doing without one. And it has started to remedy that, with remarkable slowness. The city announced the construction of six subway lines in 2010: Seven years later, it has opened half of them. That’s a much slower rate than every other large city.

I draw a lot of delight at this lackluster pace. Why is it so slow? My imagination offers two explanations, both of which cute: Perhaps the veterans who built the mighty Beijing and Shanghai metros arrived in Kunming and were at last humbled by a cityscape they cannot reshape; or the system is being managed entirely by local engineers, who are way out of their depth working on a project on which they dare take only baby steps. I can gladly believe in either explanation, and am not sure if I really want to know what’s really going on.


A few final thoughts:

  • Some people say that the food in Beijing and Shanghai has been in decline. Kunming’s food is still impressive, I hardly ever regretted a meal. (Unlike in the States, where too often I felt I had to gulp down disappointment and calories in equal measure.) I’m optimistic that quality in Kunming will stay at a high level for a while longer. Development is slower, supply chains are still short, and people have the leisure time to be highly discerning about what they eat. Kunming supermarkets are often simply wet markets with a roof on top; until 2003, Walmarts used to sell snakes and slaughter chickens onsite.
  • A few general suggestions on local food: In the mornings, people eat mixian, or soupy rice noodles, which are silkier than wheat noodles. One might also look for ersi, a tangier form of rice noodles that I believe is not eaten outside of Yunnan. Lunchtime and dinnertime allow for greater extravagance. A few things to look for: Yunnan ham, soft tofus, local cheeses, bee larvae (or any other cooked insect), spicy beef, and local barbecue. Most of all, mushrooms, mushrooms, mushrooms, there are too many good kinds to count. They’re best in June and July, you’ll find all types then.
  • My rule of thumb for eating in China: So long as you’re wandering around residential areas, you really can’t go wrong with a meal. Go to big blocks of old apartments, and you’ll find good food nearby.
  • The Yunnan government has rolled out initiatives to fashion Kunming into a tech or finance hub. When I see these efforts, I wonder: Can’t it focus on its absolute advantages of agriculture and tourism? That seems to be working out well for New Zealand, Vermont, Bordeaux, and a bunch of other regions.
  • I very much like the idea of Hong Kong—this really is an astonishing place to find a skyscraper’d city—but I’m not yet sure of its execution.

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Tyler Cowen’s *The Complacent Class*

Reading The Complacent Class, by Tyler Cowen, reminded me of a few questions I’ve puzzled over for the last few years:

  • American colleges like to proclaim that they teach critical thinking skills: Not what to think, but how to think. Meanwhile, students who attend elite colleges typically enter one of a few career paths: finance, consulting, “tech,” medicine, or law. I’ve always felt this to be a bit of a paradox. Are there really so few good career paths that make sense for excellent students, who go into them after they’ve engaged in intense critical thinking? Or are most college students not such wonderful critical thinkers after all?
  • How adventurous can suburban life be when one is surrounded by people of similar socioeconomic class, and where nearly every social activity is mediated by the car?
  • Why do so few people share what they learn, from books, travel, and other experiences?

I’ll summarize Cowen’s book below, and then present other thoughts that reading it has prompted. As usual on this site, my pieces about books are less reviews, more records of things I’ve found striking.


Americans used to be so can-do, but they’ve lost some of that. Cowen’s book discusses the reasons behind and the consequences for that decline, starting with ways to measure the loss of restlessness: Americans are moving less between states; they’re starting new businesses at lower rates; and they’re marrying and living amongst people too much like themselves.

When the pie isn’t growing, it makes sense to dedicate yourself to protecting your own share. “What I find striking about contemporary America is how much we are slowing things down, how much we are digging ourselves in, and how much we are investing in stability,” Cowen writes. I’d put it in the following terms: too many parts of society are oriented towards bottom line activities of mistake avoidance instead of top line activities of taking risk and creating value.

Decades ago, people had a greater sense of urgency. As Cowen writes, some of this wasn’t always for the good. Anxious people are no longer so seduced by ideas like communism; and it’s a good thing that we haven’t had as many domestic bombings as the 2,500 between 1971 and 1972. But society loses other things when people aren’t dynamic. Not only is it economically unfortunate that productivity doesn’t grow; politics becomes more gridlocked, businesses wield greater monopoly power, and society as a whole loses the ability to regenerate itself. Toqueville considered the United States to be a land perpetually in motion; isn’t it a shame that seems no longer the case?

Americans are getting more passive—Cowen means this in the medical sense. More people are being prescribed opiods, antidepressants, and ADHD meds, all to induce calm. And: “Of all the drugs that might have been legalized [since the 1960’s], American citizens chose the one—marijuana—that makes users spacey, calm, and sleepy.”

“You can think of this book as detailing the social roots of the resulting slow growth outcome and explaining why that economic and technological stagnation has lasted so long.”


After presenting various claims to argue the decline of American dynamism, Cowen identifies a country that very much has a cheerful, can-do spirit: China. “I have visited China many times over the past five years, for a different book project, and what I’ve observed there has made America’s social stagnation increasingly clear to me. That was one reason I came to write this book.”

I find claims for Chinese dynamism to be appealing. People I know who came of age during the Cultural Revolution make up a terribly interesting generation; it seems like you can pluck anyone over the age of 45 to find a totally improbable resumé. Cowen cites the examples of Jack Ma, who used to pester tourists for English lessons, and Wang Wenyin, a metals billionaire who used to live in a cement pipe. I personally know someone who never went to college and was instead a tank driver; then he was decommissioned and got into the manufacturing business; later on, he was involved in real estate, in Hainan no less; now he focuses his attentions on finance. So many other Chinese, my parents among them, have experienced swerves of similar magnitude in their careers.

Dynamism is the natural mode given 10 percent growth rates, which imply an economic doubling every seven years. If you grew up in almost any large city in China, you witnessed the construction of highways, along with the cars to jam them; the erection of skyscrapers, along with the companies to fill them; the laying down of rail tracks, along with the high-speed trains to glide over them.

I have only a bit of exposure to Chinese science fiction, and my impression is that it’s optimistic in the same way that American science fiction was optimistic in the ‘50s. That makes sense, right? Chinese society has advanced more in the 40-year period since the start of reform-and-opening than American society has between the Great Depression and the ‘70s. Authors extrapolate the growth they’ve seen in their lifetimes into the future; on the other hand, dystopian science fiction is the natural outcome of stagnant growth.

Thinking about that point makes me wonder if economists are poorly-equipped to measure how an optimistic vision can propel growth. If hipper boutiques and cafés are your only exposures to physical change, then it’s a bit more difficult to imagine a radically different future. Not so for people in Shenzhen and Shanghai. For Chinese who’ve lived through high growth rates over most of their lives, they’re right to expect a whole new world in a decade. On the other hand, if one’s physical environment never much changes, then it may be difficult to think about the future very much at all. Here’s Cowen: “We are using the acceleration of information transmission to decelerate changes in our physical world.” Must our imaginations be limited by the screen?

Technologically, my optimistic hope for China is that it will propel development in the world of atoms, picking up from where developed countries left off. Maybe it can take the torch on space exploration, to Mars and beyond. Maybe it can push forward nuclear fusion; it’s already been reported that American thorium scientists who could no longer develop the technology in the United States have taken their designs to China, which is happy to encourage their work. Maybe it will take the lead on life extension science, ocean exploration, cheap energy, and all the other things.

Peter Thiel has said that Chinese society is pessimistic and determinate. He writes: “Under determinate pessimism, you’ll be like China—stuck methodically copying things without any hope for a radically better future.” If that was once true, it is no longer. I submit that in many ways it’s optimistic and determinate; instead, it is the NIMBYs of Marin County and Palo Alto who are pessimistic and indeterminate, rationing out their land without necessarily a clear end goal. (Here is by the way a sampling of police blotter reports in the town of Atherton, California, where all the VCs live.) By the way, Zero to One has sold more copies in China than anywhere else in the world.


Who are a few uncomplacent Americans? I nominate three people for embodying restlessness and a particularly American kind of success.

I’ve already written about Philip Glass. When he received prize monies from Juilliard, he spent it on a motorcycle so that he could ride around the country. He was never afraid to go into steep debt to realize his creative works. Or to drop everything to go off on trips to India, Afghanistan, and Iran. He keeps composing for new settings, like films and opera houses. He was not a “professional composer” until the age of 41—up until that point, he had worked variously as a plumber, furniture mover, and taxi driver. (One time he was almost murdered in his own cab.) Three weeks ago I attended the premiere of his 11th symphony, commissioned for the occasion of his 80th birthday.

One doesn’t have to admire Steve Bannon’s policy views to see that he’s lived a unique life. The recitation of his career path (born in Norfolk; Virginia Tech; HBS; officer in the Navy; Goldman; etc.) doesn’t sufficiently convey the diversity of his experiences. He has been involved with Seinfeld; Biosphere 2; the rescue effort of the Iran hostage crisis; a World of Warcraft virtual gold mining company; Titus (the Shakespeare adaptation featuring Anthony Hopkins); Breitbart; the White House; and surely other interesting ventures I’ve never read about.

And how about Patrick Byrne, a philosophy PhD who founded Overstock.com? His Wikipedia profile has a lot of gaps, and he’s the kind of person I wish the New Yorker would feature. After teaching philosophy, he founded a company that made industrial torches, and then another company that makes police and firefighter uniforms. He contracted Hepatitis C from a trip to Xinjiang in his 20’s; ongoing treatment has required his heart to be stopped over 100 times. More recently, he has found greater fame for his embrace of Bitcoin, making Overstock the first major retailer to accept a cryptocurrency.


Let me take this opportunity to register a complaint with the term “open-minded,” which is increasingly praised as an important virtue.

I’ve started to dislike the term. First of all, it’s unobjectionable—who would profess he is not open-minded? More importantly, it’s not always clear what the term refers to, and this is worth thinking through. It might indicate the state of being “soft-minded,” in which one would readily be swayed by better arguments. But often it tends to connote “empty-minded,” in which one accepts anything and retains little. Many people are indeed open to different cultures and ideas, but they’re not necessarily conceptualizing their experience, nor active in seeking new experiences out.

I would like for everyone to be “hungry-minded,” in which one realizes that there is so much to know. A hungry-minded person senses that he is expert in so few areas of knowledge; that terrible gaps plague even his supposed areas of expertise; that there are important areas of knowledge of whose existence he is barely even aware; and that he should be fixing these deficiencies, now and ravenously. My favorite people to talk to are those who look for new experiences, think about them in an analytic way, and are eager to share their thoughts.

Here’s kind of an analogy to determinate and indeterminate views of the world.

As I mentioned above, I’ve become enthusiastic for the idea that positive vision of the world is important for growth. To get to a more technologically advanced world, first people have to imagine one. That requires thinking hard about technologies of the future, and then taking the steps required to make them real. We can’t be optimistic in a merely vague way, and pin our hopes on policies that supposedly create room for innovation; instead we should be more direct.

It’s why I’m slightly skeptical of thinking that we can save the world with indeterminate policies like looser monetary policy or housing reform. Are so many companies waiting to make things happen if only we’d cut interest rates by 0.25 percent? Will so many excellent service jobs be created if rents in Manhattan and the Mission were only cheaper by $250? To me these are policies worth advocating for, but I must say that they feel so marginal. That’s especially the case with housing policy, which are disheartening if you consider construction in Asian megacities.


The prescriptive antidote to The Complacent Class is a book like Tim Harford’s Messy. The most striking thing I learned from Harford is that the most success-oriented teams are usually the most miserable teams. For example, the amateur investment clubs that generate the highest returns are usually composed of people who don’t know each other well—it’s the only way to generate pushback on ideas that aren’t well thought through. Clubs composed of friends will find it more important to keep friendships intact rather than focus on returns.

Success often entails putting oneself in uncomfortable situations, like improvising during an important speech or flying a plane manually instead of relying on autopilot. Living a life that’s not so well-ordered can improve skill-acquisition. Both Harford and Cowen are somewhat critical of dating algorithms, although they argue that algorithms are overrated in different ways.

I’ve recently read another excellent book about a decidedly non-complacent people: La Place de la Concorde Suisse, by John McPhee, It’s a slim 1985 account of his being embedded in a French-speaking unit of the Swiss Army. The people take the army seriously—at least in 1985—by offering heavy support for conscription, permitting army practices to encroach on daily life, and regularly maintaining the elaborate system of hidden demolitions around the country. It’s odd to me that a country that hasn’t experienced warfare for centuries would maintain such a militarized culture. The book makes it feel that being Swiss is the civic religion of Switzerland, and the service in the army is the annual demonstration of faith.

I’m not sure the practice encourages dynamism, exactly, but it’s one way to ward off complacency.

(Do these happy Swiss cows realize that the barn they’re standing beside conceals an artillery gun? via Flickr)


Some final thoughts:

  • The part of the book I found the least compelling was the final chapter, in which Cowen says that sooner or later people will snap out of complacency. But his case isn’t well built-up. The longer that people have been complacent, the more stultified they are; will dynamism be easy to re-learn? Can we readily imagine that Europe will be so dynamic again? I’m not sure that it’s easy to make people dynamic, though China has successfully ordered restarts a few times in history. I’m happy to be pointed to discussions of this topic.
  • When Cowen says that “our political system has creaked to a standstill” or that “people are used to the idea of a world that more or less looks the same,” he’s not being contrarian. Instead he’s being reasonable. Still, I suspect that some people will accuse him of insufficient awareness of tech. The biggest objections to this book will come from those who haven’t been steeped in Thielian arguments for techno-pessimism.
  • I’ve long felt it unfortunate that the word “plastics” has been a putdown when people discuss ambition. Plastics are important, why do we make fun of that innovation?
  • Maybe we can lay the blame for complacency at the feet of Carter, who again and again entreated Americans to lower their expectations. He’s the president who encouraged people to carpool, who put on a sweater and asked people to lower their thermostats, and who oversaw repeated crises.
  • Little things matter when you read Cowen. The chapter titled “Why Americans Stopped Rioting and Legalized Marijuana?” is about how courts and bureaucrats have conjured legalistic tactics to reduce mass incidents. “Bureaucracy, whatever its other goals may be, is firmly on the side of the complacent class.” The chapter never explicitly mentions pot, except in the title. By introducing little oddities in the text, Cowen makes room for claims that are too difficult to baldly state; in other cases, watch for occasions in which he’s offering commentary on something other than what he’s directly writing about.

Thanks to MG for comments.

Addendum: I thank Joe Weisenthal for introducing the term “soft-minded” to me in the first place.

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Californian Dreams

I watched two movies recently, Hail, Caesar! and La La Land, both of which are celebrations of Los Angeles. They made me reminisce about the year I spent living in San Francisco, and prompted me to think more deeply about California as a whole. In particular, I wonder if California felt so odd (to me) because of the winner-take-all effects of tech and entertainment. What happens to the way that people think when two of its big industries have extreme blockbuster dynamics?

I have three questions:

  1. California’s economy is massive, but two industries dominate popular imagination: tech in Silicon Valley/San Francisco and entertainment in Hollywood/Los Angeles. Far fewer than 1 percent of all new stars and startups can expect to break out every year; those that do find terrific success. How do these dynamics change the culture of the state and the way that people live, if at all?
  1. California is the land of sunny optimism. But one detects, in so much of the creative output, a strain of melancholy, or at least ennui. You hear it in the Beach Boys; see it in both Hail Caesar and La La Land; read it in Philip K. Dick, John Steinbeck, Jack Kerouac, and so many others. What do people have to worry about in the land of gold and gentle weather?
  1. In a country of immigrants, California seems to be the state of immigrants. It’s not just that many are of Asian or Latin American descent; in the beginning (i.e. about a century and a half ago), California was significantly populated with migrants-twice-over who came from the eastern U.S. Within the self-selected group of immigrants, these people were willing to decamp once more to search for gold or fame. If the U.S. is the country of immigrants, is California then the most American of all states?

I’m not sure that I can answer these questions directly, but here are a few thoughts around them.


Every movie can be thought of as a startup. They both begin as ideas in notepads. Creators pitch them to studios and VCs for funding. It’s up to the creator to sell the vision and recruit others who believe in them. Most startups and movies break even or lose money; a few become massively scalable successes that are economically and culturally important for years, perhaps decades.1 They have many differences, but they share at least these characteristics.

That’s from the perspective of creators and founders. For employees of startups and movie productions, there are similarities as well. Young people toil, not always in great positions, but they can always be on the lookout for other opportunities. It’s expected to be passionate about what you do. Things change in a big way if you meet someone willing to help you. (From one of the big numbers in La La Land: “Someone in the crowd could be the one you need to know; the one to finally lift you off the ground… if you’re the someone ready to be found.”) Or people are not so fortunate. Tens of thousands of dreamers move to Hollywood every year, but only a few become stars.

One tangible difference between startups and movies is that the latter needs a team to assemble for a much shorter period of time. A more interesting difference is an intangible one: While both are blockbuster industries, one can argue that Hollywood has a more zero-sum attitude than Silicon Valley does. Annual consumer spending on movies and music is fairly stable, which means that studios are fighting over a non-growing share of peoples’ budgets. Meanwhile, only a few movies become blockbusters, making competition for that handful of roles more severe for actors. The world of startups doesn’t seem so zero-sum.

The zero-sum competitiveness of Hollywood is one reason that Peter Thiel disliked Sorkin’s The Social Network. He wrote that the movie is more emblematic of Hollywood than the positive-sum thinking that’s more common in Silicon Valley.


What accounts for the strain of melancholy in Californian optimism?

It’s warm and sunny in both Hail Caesar and La La Land. (When I saw La La Land on a snowy day, I thought that the director was playing a cruel joke to divide the movie in seasons: Los Angeles in the winter and summer scenes looked identical.) But you can pick out the constant doubt and deep unhappiness of the main characters. The lyrics of the Beach Boys are sunny too; but why do they sound so sad? Maybe California is less happy than it looks.

Is it because the sunsets in California are so singularly beautiful? It is darkness when the greatest point of beauty has passed. Do the long shadows of autumn drag themselves over our mood especially heavily because they bring darkness but not cold?

Does desperation accompany its natural optimism because homelessness is so plausible? La La Land’s opening number is about how California will always have another day of sun. The mild, warm weather makes that condition far less punishing than in the northeast. One certainly encounters many examples of it in San Francisco. Homelessness won’t likely affect most tech workers, but even for them the prospect of sudden, faultless unemployment looms large. Will they be able to stay in their very expensive apartments for long?

Are the landscapes of Northern California so stark and breathtaking because they’re far too dry? The Golden Gate is placid, and is that because the yellow hills and brackish water don’t allow life to thrive?


I haven’t spent much time in LA, but I loved my brief visit. It’s the only place in which a stranger at a party remarked to me: “I didn’t like my face, so I changed it, with plastic surgery.” One would not find such candidness in San Francisco or in New York.

Werner Herzog has great things to say about the city. He lives there now, having moved from SF’s Pac Heights neighborhood, where I used to live. It’s worth quoting him at length:

“Los Angeles is the city in America with the most substance, even if it’s raw, uncouth and sometimes quite bizarre. Wherever you look is an immense depth, a tumult that resonates with me. New York is more concerned with finance than anything else. It doesn’t create culture, only consumes it; most of what you find in New York comes from elsewhere. Things actually get done in Los Angeles.

“Look beyond the glitz and glamour of Hollywood and a wild excitement of intense dreams opens up; it has more horizons than any other place. There is a great deal of industry in the city and a real working class; I also appreciate the vibrant presence of the Mexicans. In the last half century every significant cultural and technical trend has emerged from California, including the Free Speech Movement and the acceptance of gays and lesbians as an integral part of a dignified society, computers and the Internet, and—thanks to Hollywood—the collective dreams of the entire world. A fascinating density of things exists there like nowhere else in the world.”


Here’s something I’ve come to appreciate recently: There’s a world of difference between value-creation and mistake-avoidance.

In the corporate context, that’s the difference between top line and bottom line activities. The first is about generating revenue and the latter is about cutting costs. Upside is limitless for salespeople, while the beancounters have only so much to cut.

Let me sharpen the point with reference to writing. Academic writing is often plodding and obtuse; I submit that it’s because academics are more concerned with showing that they’re avoiding errors rather than trying to communicate incisive ideas. The opposite of academic articles may be something like blog posts; the latter may be fuzzy, poorly-defined, or outright mistaken, but that’s tolerable so long as they introduce fresh ideas.

I feel that California is a place that better embodies the top line mindset and that New York is dominated by the bottom line mindset. California, venture capital, and movie studios are trying to pick the winner that makes irrelevant their losses. New York is complicated, but I want to argue that it’s finance-driven, and exemplified by the practice of insurance in particular. Insurance is about collecting a steady stream of revenue—on the liabilities side—without making a catastrophically wrong investment that wipes out half the value of assets. (A more colorful way to put it is to pick up nickels in front of a steamroller.) Venture capital tolerates mistakes in the search for a winner; insurance spends most effort avoiding big mistakes.

Finding brilliant successes and avoiding catastrophic failures are very different activities. Both are important, but they require different mindsets. I’ve found it useful to distinguish the two in nearly everything I do and see. Maybe that distinction goes some way to explaining why California and New York feel so different.


I don’t know much about California’s history, but I do know that a lot of people moved to the state in the 19th century gold rush. After gold, there came a silver rush, an oil boom, aviation, entertainment, and tech. I’m stealing a friend’s phrase: “Manifest destiny continues, not only through physical space.”

Each of these are winner-take-all industries. So you see, blockbuster dynamics have continually infused the state. Maybe we should expect that the people who were willing to move to California to be some of the most ambitious and can-do people in the world. And that subsequent generations have been nurtured with the same values as people who worked in other winner-take-all industries.

Or maybe not. Northern California offers the most outrageous examples of nimbyism, which is the total antithesis to a culture that accepts change and risk. The government doesn’t seem so can-do either. In eastern SF, replacing the Bay Bridge was initially estimated to cost $250 million; it was completed nearly 20 years later, for $6.4 billion, or a run-up of roughly 2,500 percent. In northern SF, the government has spent more time and about as much money (in real terms) building an access tunnel to the Golden Gate Bridge than it did building the bridge. California’s high-speed rail will be one of the slowest high-speed rail systems in the world, at the highest cost per mile of track. No wonder the state’s finances are a mess.

Virginia Postrel’s book on glamour highlights California as a particularly glamorous icon. It’s always attracted the ambitious. But for all the innovations of Hollywood and Silicon Valley, I wonder if people have lost some of the risk-taking tendencies of the past. Longtime residents and Uber drivers are always eager to let people know that the city isn’t like it once was. Perhaps they’re right, and the city’s startup scene is imprinted with a little bit more of the East Coast finance culture than techs would like to admit.

And maybe this is the right place to cite that, under generous definitions, about 10 percent of the San Francisco workforce is directly involved in the tech industry. That figure is closer to 20 percent for the Bay Area as a whole. And the state may not be attracting as many migrants. California’s net migration was negative between 2003 and 2014, losing about a million more people than it gained through migration. Instead of moving from Oklahoma to California, traffic may now be more common the other way. While IT and entertainment are big sectors, together they account for only around 10 percent of state GDP—though it’s possible to argue for a bigger share under different definitions. The two big blockbuster industries may not have that big of an impact in the day-to-day lives of most Californians.

But if they do, then maybe that helps to explain a bit of the melancholy in the culture and why those who were once ahead have tried to lock in their gains.


(Picture I took last year, off Highway 1. Does the California coast look so calm because the dryness doesn’t allow for a lot of life to thrive?)

A few last notes:

I’d like to read a book about California. Not a fiction nor a work of poetry by a Californian author; instead I’m looking for a history of the state as a whole. Any recommendations?

Right now, Seattle is the part of the country I’d most like to visit. Going purely off the descriptions of Cryptonomicon, it seems like geek heaven. Is it California-lite, with its own set of tech giants and blockbuster dynamics?

I loved both Hail, Caesar! and La La Land while I was watching them. Upon reflection, I liked Hail, Caesar! more and La La Land less. Both films are excellently reviewed by Richard Brody: “The Coen Brothers’ Marvelous ‘Hail, Caesar!’” and “The Empty Exertions of ‘La La Land.’

Thanks to MG, EW, PS, SG, and AN for discussions of these ideas.

1. Thanks especially to Michael Gibson for elaboration.

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