This teaser trailer for a movie featuring George Clooney and Sandra Bullock (?!) in what appears to be an attempt to do a very accurate kind of near future science fiction, looks very impressive:
Friday, May 10, 2013
How Google glasses work
Google Glass privacy: It’s actually the world’s worst surveillance device. - Slate Magazine
My second tech post in a day.
This one is a pretty interesting, and amusing, description of how Google Glass currently works, and why they are (at least not yet) the best device for secretly recording video or taking photos.
Still, if they become cheap and popular in future, I would not be surprised if we start seeing a lot more video of street crime than before. After all, despite what the article says, their use will still be less conspicuous (and easier) than holding up your mobile phone to record video.
My second tech post in a day.
This one is a pretty interesting, and amusing, description of how Google Glass currently works, and why they are (at least not yet) the best device for secretly recording video or taking photos.
Still, if they become cheap and popular in future, I would not be surprised if we start seeing a lot more video of street crime than before. After all, despite what the article says, their use will still be less conspicuous (and easier) than holding up your mobile phone to record video.
Adventures in rooting (a consumer warning)
It was about 9 months ago that I bought a Samsung Tablet, the Galaxy Tab 2 10.1, which is still commonly on sale and now down to just under $300. It's pretty much at the bottom of the Samsung line, and the reviews even when it came out indicated not to expect top performance. However, for your basic tablet user, I've been pretty happy with it, and Google Play services (with the recent opening of their music store in Australia) have improved a lot.
But a few days ago it started acting strangely. Trying to type into any app (such as a browser) would immediately cause the app to stop working. Also, I had created a half dozen folders on the home page in which to sort out my apps into categories, and I could not open any of those folders. (The warning on that was "SecLauncher has stopped working.")
Googling around on my PC (because I could not search anything via the tablet) about the typing problem (but not the folder problem) quickly showed from Android forums that this was a known issue that sometimes occurred in this model tablet, and that it has been occurring for quite some time (more than 12 months, I think.) Someone complained that they had contacted Samsung and a vague promise that they would fix it in future was made.
However, I don't think there has ever been an update for my Tablet's Android version since I bought it. (Even though it appears an update has started to be rolled out elsewhere around the globe in about December 2012. Australia must be low on their priority.)
So - the problem I had was with the Samsung clipboard, and could only be fixed by either doing a factory reset (which would not guarantee that the problem would not return) or "root" the Tablet via some software and slightly tricky instructions which could, if it all went horribly wrong, "brick" the Tablet and make it good for nothing, and then delete the data/clipboard folder contents.
I went for the latter option, and followed a couple of sets of instructions (first here, but then to XDA forum) because it seems it is hard to find one perfectly clear set of instructions for something like this.
Anyhow, I finally got there, after a few hours of research and fiddling and not understanding exactly what was going on.
Anyone reading who has struck problems doing this - I might be able to help with a few tips of what was not working for me.
So, next problem: having successfully "rooted" my tablet, I couldn't find the data/clipboard at all.
I tried the "File manager" that came with Samsung, and an app manager I had downloaded which had an option to allow access to root files which had to be turned on, but I still could not find the relevant folder.
I knew there were other file manager apps to download, but here's the thing: I still couldn't type into Google Play to find them. I had to search through categories, but they seem to list the "top paid" or "top free", and if want you want isn't in the top, you can't get to it. Furthermore, if it was a paid app that I wanted to download (and there was one or two possibilities) I could not type in my password to confirm payment!
Still, if you find one app that's kinda relevant, you can see links to other possible ones of interest, and that is how I stumbled across File Explorer (which is free) and a separate, now free, File Explorer (Root Add on) which allows root access via File Explorer.
Using these apps, I did find the data/clipboard folder, deleted its contents, and yes indeed, the Tablet started working normally again.
Presumably, if it happens again, I have all the tools to fix it.
But here's the thing: I must never put File Explorer in a folder, because that may make it hard to get to if the problem re-develops.
Apparently, having a "rooted" Tablet means you can fiddle with it and do all sorts of things - perhaps such as uploading the new Jellybean Android instead of waiting for Samsung to deem Australia worthy enough to receive it.
I'm not sure what I'll do. The warranty is gone anyway.
But the final lesson is: this is pretty poor service by Samsung, not fixing a serious problem like this and just telling people they have to reset the Tablet to factory (and re-load all apps and data back to it.)
Shame, Samsung, shame.
But a few days ago it started acting strangely. Trying to type into any app (such as a browser) would immediately cause the app to stop working. Also, I had created a half dozen folders on the home page in which to sort out my apps into categories, and I could not open any of those folders. (The warning on that was "SecLauncher has stopped working.")
Googling around on my PC (because I could not search anything via the tablet) about the typing problem (but not the folder problem) quickly showed from Android forums that this was a known issue that sometimes occurred in this model tablet, and that it has been occurring for quite some time (more than 12 months, I think.) Someone complained that they had contacted Samsung and a vague promise that they would fix it in future was made.
However, I don't think there has ever been an update for my Tablet's Android version since I bought it. (Even though it appears an update has started to be rolled out elsewhere around the globe in about December 2012. Australia must be low on their priority.)
So - the problem I had was with the Samsung clipboard, and could only be fixed by either doing a factory reset (which would not guarantee that the problem would not return) or "root" the Tablet via some software and slightly tricky instructions which could, if it all went horribly wrong, "brick" the Tablet and make it good for nothing, and then delete the data/clipboard folder contents.
I went for the latter option, and followed a couple of sets of instructions (first here, but then to XDA forum) because it seems it is hard to find one perfectly clear set of instructions for something like this.
Anyhow, I finally got there, after a few hours of research and fiddling and not understanding exactly what was going on.
Anyone reading who has struck problems doing this - I might be able to help with a few tips of what was not working for me.
So, next problem: having successfully "rooted" my tablet, I couldn't find the data/clipboard at all.
I tried the "File manager" that came with Samsung, and an app manager I had downloaded which had an option to allow access to root files which had to be turned on, but I still could not find the relevant folder.
I knew there were other file manager apps to download, but here's the thing: I still couldn't type into Google Play to find them. I had to search through categories, but they seem to list the "top paid" or "top free", and if want you want isn't in the top, you can't get to it. Furthermore, if it was a paid app that I wanted to download (and there was one or two possibilities) I could not type in my password to confirm payment!
Still, if you find one app that's kinda relevant, you can see links to other possible ones of interest, and that is how I stumbled across File Explorer (which is free) and a separate, now free, File Explorer (Root Add on) which allows root access via File Explorer.
Using these apps, I did find the data/clipboard folder, deleted its contents, and yes indeed, the Tablet started working normally again.
Presumably, if it happens again, I have all the tools to fix it.
But here's the thing: I must never put File Explorer in a folder, because that may make it hard to get to if the problem re-develops.
Apparently, having a "rooted" Tablet means you can fiddle with it and do all sorts of things - perhaps such as uploading the new Jellybean Android instead of waiting for Samsung to deem Australia worthy enough to receive it.
I'm not sure what I'll do. The warranty is gone anyway.
But the final lesson is: this is pretty poor service by Samsung, not fixing a serious problem like this and just telling people they have to reset the Tablet to factory (and re-load all apps and data back to it.)
Shame, Samsung, shame.
Thursday, May 09, 2013
More on fizzy drinks
A soda a day keeps the doctor in pay: soft drinks and diabetes
A can a day of sugary oft drink is a bad idea:
A can a day of sugary oft drink is a bad idea:
This large study from Europe found drinking a 12 ounce (about 355 ml) can of soft drink, or soda, a day was associated with a 20% increase in the risk of developing diabetes. This same effect has previously been observed in populations from the United States, Finland and Singapore.I am a little relieved to read the next bit, though:
If this is a real effect, as increasingly looks to be the case, it has massive implications. Half of eight-year-olds in the United States already drink this amount of soda, and teenage males consume more than double that. In conjunction with soft drink consumption among American adults, this represents tens of millions at risk of diabetes in the United States alone. Hundreds of millions more people are affected in other developed and developing countries worldwide.
There’s an obvious reason why soft drink consumption causes diabetes – more sweetened drinks equal more calories, which equals weight gain. Excess weight is the single most important factor in the global diabetes epidemic. While soft drinks may have effects on diabetes independent of obesity, this latest study (again) implicates weight gain as a key factor.
The study’s apparently anomalous finding of an association between diet sodas and diabetes likely reflects “reverse causation” – a phenomenon whereby people switch to diet soft drinks once they start to get the health problems caused by regular ones. So it’s the development of disease that’s causing people to drink diet soft drinks, not the diet soft drinks causing disease.My Pepsi Max remains safe, perhaps.
More bugs bugging us
Antibiotics could cure 40% of chronic back pain patients | Society | guardian.co.uk
Yet another story of an unexpected bacterial connection to health.
Yet another story of an unexpected bacterial connection to health.
Wednesday, May 08, 2013
Krugman talks about the Keynesian long run
Keynes, Keynesians, the Long Run, and Fiscal Policy - NYTimes.com
Further to the post about Ferguson and his silly comment about Keynes, Krugman here talks about the issue of the long run.
Clear and concise, as usual.
Further to the post about Ferguson and his silly comment about Keynes, Krugman here talks about the issue of the long run.
Clear and concise, as usual.
Tuesday, May 07, 2013
More in Søren than in manga
Julian Baggini — I still love Kierkegaard
I quite enjoyed this summary of the somewhat odd philosophy of Kierkegaard from someone who first became a fan as a teenager.
This paragraph amused me:
I quite enjoyed this summary of the somewhat odd philosophy of Kierkegaard from someone who first became a fan as a teenager.
This paragraph amused me:
Yet alongside this melancholy was a mischievous, satirical wit. Kierkegaard was a scathing critic of the Denmark of his time, and he paid the price when in 1846 The Corsair, a satirical paper, launched a series of character attacks on him, ridiculing his gait (he had a badly curved spine) and his rasping voice. Kierkegaard achieved the necessary condition of any great romantic intellectual figure, which is rejection by his own time and society. His biographer, Walter Lowrie, goes so far as to suggest that he was single-handedly responsible for the decline of Søren as a popular first name. Such was the ridicule cast upon him that Danish parents would tell their children ‘don’t be a Søren’. Today, Sorensen — son of Søren — is still the eighth most common surname in Denmark, while as a first name Søren itself doesn’t even make the top 50. It is as though Britain were full of Johnsons but no Johns.As for the title of this post: I was trying to make a pun, and took a stab that there would be manga versions of some of Kirkegaard's books. Looks like I was right!
Bacterial ecology, continued
To Beat Bad Breath, Keep the Bacteria in Your Mouth Happy: Scientific American
There seems to be a lot of interest suddenly in scientific circles about how bacterial ecology (particularly in the gut) affects the general health of humans. Here's another instalment of the story, but this time starting at the mouth:
There seems to be a lot of interest suddenly in scientific circles about how bacterial ecology (particularly in the gut) affects the general health of humans. Here's another instalment of the story, but this time starting at the mouth:
Bacterial geneticists contributing to the Human Microbiome Project, funded by the National Institutes of Health, have so far identified about 1,000 species of bacteria that commonly inhabit human mouths. Yet one person's particular mix of “bacterial colleagues,” as Rosenberg calls them, is probably quite different from another's. “Each person has maybe 100 to 200 of those bacterial species colonizing their mouth at any given time,” says Wenyuan Shi, a microbiologist at the University of California, Los Angeles.The article goes on to discuss new treatments being tested to give a more permanent "cure" by changing the bacterial mix in the mouth. For example:
During birth our previously sterile mouth picks up some of our mother's bacteria, and in childhood we quickly acquire new microbial colonizers. Studies suggest that a preschooler's population of mouth microbes most closely mimics his or her primary caregiver's. As the years go on, diet, stress, illness, antibiotics and other forces can shift the demographics of an individual's microbial community—and change its collective aroma. When bacteria that release smelly compounds dominate, chronic bad breath may be one of the consequences.
Many current treatments do not improve oral ecology—in fact, they might make matters worse. Although some mouthwashes merely mask unpleasant odors, alcohol-based rinses sold in drugstores and prescription rinses containing chlorhexidine or other antiseptics target all oral bacteria, stinky and otherwise. Shi says that approach has several drawbacks. A chlorhexidine rinse, for example, may improve breath for as long as 24 hours but can temporarily change the taste of food. In one study, 25 percent of subjects experienced a tingling or burning sensation on the tongue after a week of use. Heavy use of rinses with alcohol can dry out the mouth, sometimes exacerbating bad breath. Further, wiping out too many of the mouth's native bacteria could disrupt the usual checks and balances, making way for opportunistic species responsible for gum disease and other infections to move in and take over.
Other teams are investigating whether probiotics rife with a gram-positive bacterial strain known as Streptococcus salivarius K12 can fight halitosis. A common resident of the mouth and respiratory tract, S. salivarius K12 is benign and known to produce substances that deter harmful bacteria. In a recent study by researchers in New Zealand and Australia, volunteers gargled with a chlorhexidine mouthwash to clear their palate of many native bacteria and subsequently sucked on lozenges laced with K12. Seven and 14 days later they had much sweeter breath. Presumably K12 outcompeted its foul-smelling kin, opening up niches for less offensive species.I wonder if protracted kissing with someone with good breath can help too!
Keynes and the long term
Yesterday, when the story about Niall Ferguson quipping that Keynes didn't worry about the future because he was gay and childless was doing the rounds, I commented elsewhere that having children certainly seems to have no effect at all on the Tea Party Right and their dismissive attitude to the long term issue of climate change. (The point being that they are an obvious example of how having kids is not co-related to "concern with the future of humanity".)
But what I suspected was that Ferguson's take on Keynes not being concerned about the future was the more fundamentally wrongheaded claim. Not being one who reads much about economics, though, I didn't know where to find a good commentary on this aspect.
Overnight, what I wanted appeared at Slate. It's a good read. Here is the opening slab, for which I trust Slate will forgive me for reproducing:
Read the whole thing.
It certainly helps illustrate the intellectual poverty of what passes for much Right wing commentary on economics in the last few years.
But what I suspected was that Ferguson's take on Keynes not being concerned about the future was the more fundamentally wrongheaded claim. Not being one who reads much about economics, though, I didn't know where to find a good commentary on this aspect.
Overnight, what I wanted appeared at Slate. It's a good read. Here is the opening slab, for which I trust Slate will forgive me for reproducing:
Niall Ferguson, the distinguished historian who for the past several years has increasingly abandoned his trade in favor of inept conservative punditry, stepped in it over the weekend when he told an investors’ conference that John Maynard Keynes’ allegedly misguided ideas stemmed from the fact that he was gay and had no intention of having children, and was thus blinded to the importance of long-run considerations.
When an uproar ensued, Ferguson, to his credit, offered a full and complete apology on his website. But both the controversy and the apology primarily reflect the welcome fact that gay-bashing is increasingly frowned upon in polite society. They don’t confront the larger smear, which is against Keynes’ ideas. The fact of the matter is that both Keynes personally and “Keynesian” thinkers about macroeconomics in general care deeply about long-term issues. In fact, Keynes is one of the deepest thinkers about the long-term economic trajectory of all time.
The assumption that Keynes only cared about the short run stems from Keynes’ too-often quoted line that “in the long-term we are all dead.” This is, obviously, true. But while it’s often taken to be something like a 1930s version of YOLO, that kind of carpe diem economics has nothing to do with what Keynes was actually writing about.
The line appears not in the General Theory of Employment, Interest, and Money but in 1923’s Tract on Monetary Reform. Most countries, including Great Britain, had abandoned the gold standard during World War I. After the war, the major powers sought to return to gold and the British authorities wanted to return their currency to its pre-war peg, a step Keynes thought would be disastrous. The question of the long run arose in response to the claim that overvaluing a currency relative to the currencies of its trade partners can’t make a difference since in the long-run domestic prices will adjust to any exchange rate.
Keynes says that this is true. If after the conclusion of the American Civil War “the American dollar had been stabilized and defined by law at 10 percent below its present value” that would have had no implications for the world economy of the 1920s, 60 years later. Nominal prices would have adjusted. “But this long run is a misleading guide to current affairs,” he wrote, “In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.”
It certainly helps illustrate the intellectual poverty of what passes for much Right wing commentary on economics in the last few years.
Monday, May 06, 2013
Fan boys and girls who are not to be trusted
Diana Rigg in Doctor Who: The Crimson Horror recap.
I continue to be amazed at the global fan boy detailed analysis, excitement and praise appearing at Slate (above) and The Guardian after every episode of Dr Who, when I am finding the stories increasingly incredibly stupid.
Last night's episode, for example, in my opinion, just made no sense as a story whatsoever. I personally think that the makers of the show think they can include any steampunk element and fan boys will "ooh" and "ahh". (Last night, it was a steampunk ballistic missile type thingee.)
The stories have become absolutely hopeless. The end times must be near, one would think...
I continue to be amazed at the global fan boy detailed analysis, excitement and praise appearing at Slate (above) and The Guardian after every episode of Dr Who, when I am finding the stories increasingly incredibly stupid.
Last night's episode, for example, in my opinion, just made no sense as a story whatsoever. I personally think that the makers of the show think they can include any steampunk element and fan boys will "ooh" and "ahh". (Last night, it was a steampunk ballistic missile type thingee.)
The stories have become absolutely hopeless. The end times must be near, one would think...
Sunday, May 05, 2013
In praise of stretchers
I've always liked stretcher beds. As a young child, I remember finding the camp beds comfortable during the Christmas Holiday trip to Maroochydore. I don't remember anything in particular about their design, but I'm pretty sure they were canvas stretchers or bunks of some design.
As a teenager, when in cadets, we used to sometimes sleep on old military canvas stretchers of this type of design:
except the canvas was white and very thick, and and the steel rods and leg brackets were pretty heavy and the whole thing probably weighed three times as much as the modern version shown here.
Still, I always found them comfortable too.
And so we advance to today, where recent experience both at home and camping has made me turn against inflatable bedding and try the modern version of this (presumably) old design:
In fact, this was the very model bought this weekend, when an air mattress failed us on the first night. (Air mattresses are not to be trusted. Sure they can be bought very cheaply now in nice, thick versions, but there's nothing worse than a slowly deflating mattress to disturb a night's rest.)
Stretchers like this are, in contrast, very sturdy and comfortable, and fold up quickly. This one is pretty heavy, but it's not as if you're ever going to try to carry one far.
Of course, they don't use canvas for them any more, so you don't get the added pleasure of the smell, but you can't have everything. (Everyone likes the smell of canvas, don't they? Or is it just that it was imprinted on me as a child during pleasurable beach side camping?)
Googling around tonight to see if my fondness for stretchers was shared, I tried to look up the history of this design. Certainly, nothing turns up of great use in the first pages of results. I assume the cross leg design must be pretty old, and maybe its inventor is lost to us.
It's hard to find anything about their use, let alone the designer. I did find this, though, from the Australian War Memorial:
It's a stretcher as used by a Captain JM Head in New Guinea in the Second World War. It's pretty basic, and one would assume it may well be the same used in World War 1, or the US Civil War. But it's hard turning up information on this topic quickly.
The problem is, of course, that whenever you search for "stretcher" something, you get links to medical stretcher information and images. And, gosh, don't people find that subject fascinating. Look, here's a 29 page "Short History of [Mountain] Stretchers" alone.
Anyhow, I'm all impressed anew with the comfort and portability of stretchers. I'm not entirely sure why mattresses ever caught on.
As a teenager, when in cadets, we used to sometimes sleep on old military canvas stretchers of this type of design:
except the canvas was white and very thick, and and the steel rods and leg brackets were pretty heavy and the whole thing probably weighed three times as much as the modern version shown here.
Still, I always found them comfortable too.
And so we advance to today, where recent experience both at home and camping has made me turn against inflatable bedding and try the modern version of this (presumably) old design:
In fact, this was the very model bought this weekend, when an air mattress failed us on the first night. (Air mattresses are not to be trusted. Sure they can be bought very cheaply now in nice, thick versions, but there's nothing worse than a slowly deflating mattress to disturb a night's rest.)
Stretchers like this are, in contrast, very sturdy and comfortable, and fold up quickly. This one is pretty heavy, but it's not as if you're ever going to try to carry one far.
Of course, they don't use canvas for them any more, so you don't get the added pleasure of the smell, but you can't have everything. (Everyone likes the smell of canvas, don't they? Or is it just that it was imprinted on me as a child during pleasurable beach side camping?)
Googling around tonight to see if my fondness for stretchers was shared, I tried to look up the history of this design. Certainly, nothing turns up of great use in the first pages of results. I assume the cross leg design must be pretty old, and maybe its inventor is lost to us.
It's hard to find anything about their use, let alone the designer. I did find this, though, from the Australian War Memorial:
It's a stretcher as used by a Captain JM Head in New Guinea in the Second World War. It's pretty basic, and one would assume it may well be the same used in World War 1, or the US Civil War. But it's hard turning up information on this topic quickly.
The problem is, of course, that whenever you search for "stretcher" something, you get links to medical stretcher information and images. And, gosh, don't people find that subject fascinating. Look, here's a 29 page "Short History of [Mountain] Stretchers" alone.
Anyhow, I'm all impressed anew with the comfort and portability of stretchers. I'm not entirely sure why mattresses ever caught on.
Friday, May 03, 2013
Dark thoughts about superhero
‘Iron Man 3,’ With Robert Downey Jr. - NYTimes.com
The reviewer for the New York Times has some dark thoughts while watching Iron Man 3, but I think it's a valid observation:
The reviewer for the New York Times has some dark thoughts while watching Iron Man 3, but I think it's a valid observation:
The only significant difference between “Iron Man 3” and others of its type is that it is opening a few weeks after the Boston Marathon bombings. It’s an unhappy coincidence that might not be worth mentioning if “Iron Man 3” didn’t underscore just how thoroughly Sept. 11 and its aftermath have been colonized by the movies.
The makers of “Iron Man 3” — including the director, Shane Black, who wrote the script with Drew Pearce — could not, of course, have known that their carefully engineered entertainment would open so soon after the Boston attack. Yet the explosions in the movie, as well as its plot elements — among them the threat of terrorist violence, homegrown terrorism, American soldiers and improvised explosive devices — made it impossible not to think about the marathon. When a Los Angeles landmark is blown up on screen, a twist rendered with the usual state-of-the-art digital technology, all I could think was how clean it looked without the pools of blood and grotesquely severed body parts.
The most discouraging gift ever?
“For the Law School Graduate in Your Life: Gift Certificate to Have Your Eggs Frozen”: Julie Shapiro
From the link:
From the link:
I’ve been travelling a lot recently and in Anchorage (American Bar Association Family Law Section Meeting) I was on a panel with a doctor who does fertility work in southern California. He mentioned that it was now possible to give a gift certificate that allowed the recipient to have her own eggs frozen. It turns out to be a popular gift from parents to their daughters who are graduating from law school.
The idea here is that the eggs can be harvested when the daughter is young and in her (reproductive) prime and then they can be safely stored away until after she finds Mr. (or maybe Ms?) Right and/or gets her career up and running. It’s a way of stopping–at least for a while–the biological clock. Now, thanks to the wonders of technology and the generosity of her parents, the daughter has a choice. Freezing her eggs lets her have it all.That's a terrible idea...
Thursday, May 02, 2013
Tuesday, April 30, 2013
Spooky Stuff
I've never added a blog about UFOs to my blog roll, but I've occasionally looked at the one by long time Australian UFO writer Bill Chalker, The Oz Files. It seems, as far as I can tell, pretty sensible for a UFO blog, so I'll add it.
I've also found an infrequently updated blog called Parasociology, which seems to cover some interesting topics, and has a handy list of links to bodies involved in parapsychology.
And for my third new source of spooky stuff, I see that Dean Radin has put together a list of links to studies that have been published since 2000 that he thinks are collectively a good introduction to the evidence for psi. It looks like there is plenty of interesting abstract reading to be had from that springboard.
I've also found an infrequently updated blog called Parasociology, which seems to cover some interesting topics, and has a handy list of links to bodies involved in parapsychology.
And for my third new source of spooky stuff, I see that Dean Radin has put together a list of links to studies that have been published since 2000 that he thinks are collectively a good introduction to the evidence for psi. It looks like there is plenty of interesting abstract reading to be had from that springboard.
Made me laugh
Spotted in a discussion in The Guardian about whether Ben Elton is now too old for comedy:
I'm guessing that maybe someone like Louis CK (aged 45) holds a place in your heart once occupied by Ben Elton many years ago? Louis CK is no spring chicken and his stuff is just getting better and better. No one is older than Joan Rivers (actual age: 197) but I didn't see anyone walking out of the sold-out 6,000-seater Royal Albert Hall when she played there a couple of months ago.
Waiting for stagflation
Krugman wrote about the "stagflation myth" as favoured by conservative economists in June 2009:
Hmm. Looks like inflation is under tight control.
When asked today, about 20 months after his stagflation warning, we get this, in Catallaxy:
So in the absence of actual inflation, you can just substitute "high cost of living"?
Ever since Reagan, conservatives have been using the evils of stagflation to denounce liberal economic policies. Yet mainstream economics — even at Chicago — has never made that connection.Two years later, anti-Keynesian and all round hater of taxes and government spending Sinclair Davidson gave "stagflation" for Australia a run on The Bolt Report and The Drum:
Stagflation was a term coined by Paul Samuelson to describe the combination of high inflation and high unemployment. The era of stagflation in America began in 1974 and ended in the early 80s. Why did it happen?
Well, the textbooks basically invoke two factors. One was a series of “adverse supply shocks”, mainly the huge runup in the price of oil. The other was excessively expansionary monetary policy, especially in 1972-3, which allowed expectations of inflation to become entrenched. (Ken Rogoff — a Republican, by the way — attributes that expansion to the desire of Arthur Burns to see Richard Nixon reelected.)
The appearance of stagflation was a win for conservative economics, but it was conservative monetary economics that was partly vindicated: Milton Friedman’s assertion that there is no long-run tradeoff between inflation and unemployment turned out to be correct, and is now part of the standard canon.
But where is the Great Society in all this? Nowhere. The claim that stagflation proved the badness of liberal ideas is pure propaganda, which not even conservative economists believe.
It is the consequence of pursuing Keynesian economic policy. It should come as no surprise that the return of Keynesianism during and after the Global Financial Crisis could see the return of stagflation.So what has happened to inflation since then?:
In 2007 Kevin Rudd argued, 'this reckless spending must stop'. He was quite right then, he would be even more correct today. The Australian economy is in trouble – according to the Australian Bureau of Statistics (ABS), the first quarter of 2011 experienced negative growth. Second quarter figures will be published in early September. This week the ABS reported that inflation is well above the Reserve Bank's two to three per cent inflation target.
Normally an inflation result like that would see an increase in official interest rates. After all the previous inflation figures were also on the high side. But the economy is very sluggish at the moment. A second consecutive quarter of negative growth would mean that the economy is officially in a recession.
Hmm. Looks like inflation is under tight control.
When asked today, about 20 months after his stagflation warning, we get this, in Catallaxy:
What's also interesting is the anti-Keynesian spin put on it. Yet when I Google on the topic of stagflation, I find that there has been a sudden recent burst of stagflation warnings from the UK:
Indeed, Britain has suffered persistently from higher inflation than any other advanced economy since the financial crisis struck. Unlike in the US and the eurozone, where inflation has remained broadly on track, inflation has been above the BoE’s 2 per cent target since the end of 2009, rising as high as 5.2 per cent in the autumn of 2011.
So the country which gone much further down the anti-Keynesian "austerity" path than the US is the one facing potential "stagflation".
Looks like a theoretical "fail" too, then; not just a practical one.
A long article on why austerity doesn't work
The Austerity Delusion | Foreign Affairs
Haven't had time to read it all yet, but this section is at the core, I think:
Haven't had time to read it all yet, but this section is at the core, I think:
Austerity is a seductive idea because of the simplicity of its core claim -- that you can’t cure debt with more debt. This is true as far as it goes, but it does not go far enough. Three less obvious factors undermine the simple argument that countries in the red need to stop spending. The first factor is distributional, since the effects of austerity are felt differently across different levels of society. Those at the bottom of the income distribution lose proportionately more than those at the top, because they rely far more on government services and have little wealth with which to cushion the blows. The 400 richest Americans own more assets than the poorest 150 million; the bottom 15 percent, some 46 million people, live in households earning less than $22,050 per year. Trying to get the lower end of the income distribution to pay the price of austerity through cuts in public spending is both cruel and mathematically difficult. Those who can pay won’t, while those who can’t pay are being asked to do so.
The second factor is compositional; everybody cannot cut their way to growth at the same time. To put this in the European context, although it makes sense for any one state to reduce its debt, if all states in the currency union, which are one another’s major trading partners, cut their spending simultaneously, the result can only be a contraction of the regional economy as a whole. Proponents of austerity are blind to this danger because they get the relationship between saving and spending backward. They think that public frugality will eventually promote private spending. But someone has to spend for someone else to save, or else the saver will have no income to hold on to. Similarly, for a country to benefit from a reduction in its domestic wages, thus becoming more competitive on costs, there must be another country willing to spend its money on what the first country produces. If all states try to cut or save at once, as is the case in the eurozone today, then no one is left to do the necessary spending to drive growth.
The third factor is logical; the notion that slashing government spending boosts investor confidence does not stand up to scrutiny. As the economist Paul Krugman and others have argued, this claim assumes that consumers anticipate and incorporate all government policy changes into their lifetime budget calculations. When the government signals that it plans to cut its expenditures dramatically, the argument goes, consumers realize that their future tax burdens will decrease. This leads them to spend more today than they would have done without the cuts, thereby ending the recession despite the collapse of the economy going on all around them. The assumption that this behavior will actually be exhibited by financially illiterate, real-world consumers who are terrified of losing their jobs in the midst of a policy-induced recession is heroic at best and foolish at worst.
Austerity, then, is a dangerous idea, because it ignores the externalities it generates, the impact of one person’s choices on another’s, and the low probability that people will actually behave in the way that the theory requires. To understand why such a threadbare set of ideas became the Western world’s default stance on how to get out of a recession, we need to consult a few Englishmen, two Scots, and three Austrians.
Subscribe to:
Posts (Atom)