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Marginal Revolution

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Democracy and Caeserism

<p>In my 2015 post discussing Joseph Heath&#8217;s excellent book Enlightenment 2.0, I had this to say: One of the reasons that I oppose the extension of democratic politics into every aspect of modern life is precisely that in trying to do too much, democracy delivers incoherence, gridlock and frustration, forces that eventually undermine its own legitimacy. I [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/democracy-and-caeserism.html">Democracy and Caeserism</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/23
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My recent visit to Anthropic

<p>I very recently participated in a two-day session to offer guidance on rewriting the constitution for Claude.  The small group invited was uniformly excellent, we received serious time with key decision-makers, and the discussions were of very high quality. Some of the points I stressed were the following: 1. Whatever one might take a &#8220;constitution&#8221; [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/my-recent-visit-to-anthropic.html">My recent visit to Anthropic</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/23
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The new agentic O-ring world

<p>But because agents often require guidance or additional context as they move through their tasks, Sharma, 27, finds himself wanting to be available to them around the clock and forgoing a regular sleep schedule as a result. Until recently, he couldn’t monitor them remotely through a phone or smartwatch. “The cost of the agents’ being [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/the-new-agentic-o-ring-world.html">The new agentic O-ring world</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/23
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Has the European turnaround finally arrived?

<p>Europe just had its best reporting season in years. Companies in the benchmark Stoxx Europe 600 index boosted earnings per share by 18% on average in the second quarter compared with a year earlier. Earnings barely grew at all in 2025 and 2024 as the strongest companies in the index were offset by weaker players. [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/has-the-european-turnaround-finally-arrived.html">Has the European turnaround finally arrived?</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/23
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Saturday assorted links

<p>1. New publication analyzing AI constitutions. 2. Niall Ferguson vs. Iain Banks, and against some other stufff too (TFP). 3. NYT obituary for Victor Niederhoffer. 4. &#8220;Engineered systems known as harnesses largely complete contracts in real time, make external work more observable than employment, and carry context and control across the firm&#8217;s edge.&#8221; (speculative) 5. [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/saturday-assorted-links-575.html">Saturday assorted links</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/22
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The End of Friday Nights with Friends

<p>This study examines how Americans’ time with friends has changed over the week, focusing not on how much social interaction has declined but on when it has. Using American Time Use Survey data from 2003 to 2024 (N = 243,095), I map hourly patterns of “friend time” across the days of the week. In the [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/the-end-of-friday-nights-with-friends.html">The End of Friday Nights with Friends</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/22
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What should I ask Annie Lowrey?

<p>Yes I will be doing a Conversation with her.  She has a new and very interesting book coming out, namely The Time Tax: How the Government Wastes Our Time―and How to Fix It.  More generally, from Wikipedia: Annie M. Lowrey&#8230;is an American journalist who writes on politics and economic policy for The Atlantic. Previously, Lowrey covered economic [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/what-should-i-ask-annie-lowrey.html">What should I ask Annie Lowrey?</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/22
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This brew, at least, is from Ashburn, Virginia

<p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/this-brew-at-least-is-from-ashburn-virginia.html">This brew, at least, is from Ashburn, Virginia</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/22
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Friday assorted links

<p>1. Profile of Julian Gough and his evolutionary cosmology.  And the Substack version. 2. New Spanish-language edition of Bioy Casares on Borges coming out.  The older edition was, among other things, too heavy to lug around or bring on a trip. 3. The market for data is the market of the future. 4. If Uzbekistan [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/friday-assorted-links-586.html">Friday assorted links</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/22
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Breaking Ground: Can Refund Bonuses Solve the Holdout Problem?

<p>My latest paper (with Cason and Zubrickas) has just been published by the Journal of Urban Economics. We show that refund bonuses can indeed improve the holdout problem. Abstract: The holdout problem presents a pervasive challenge in situations that require the assembly of independently controlled assets, where due to complementarity the combined whole is worth [&#8230;]</p> <p>The post <a href="https://marginalrevolution.com/marginalrevolution/2026/08/breaking-ground-can-refund-bonuses-solve-the-holdout-problem.html">Breaking Ground: Can Refund Bonuses Solve the Holdout Problem?</a> appeared first on <a href="https://marginalrevolution.com">Marginal REVOLUTION</a>.</p>

2026/8/21
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