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Jim Miraflor
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One of the greatest pieces of media ever created
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A few favourites papers on economic inequality
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It's actually enraging how the World Bank can suddenly change its mind about industrial policy like "Oops, for the past 45 years we systematically prevented you from using the most obvious tool for sovereign development, keeping you stuck in poverty and dependency, lol".
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The Western world is now championing industrial policy because of one thing: China. Seeing how their dependence to China for manufacturing goods is no longer geopolitically tenable, they want to redistribute manufacturing capacity, shard it in a new core-periphery system.
Jostein Hauge@haugejostein
In a new major report, the World Bank conceded that its decades-long war on industrial policy was wrong, saying its old advice “has not aged well — it has the practical value of a floppy disk today.” But this is not an intellectual awakening. The World Bank's doctrine shifted because the means through which Western nations can maintain their dominance shifted — not because economists suddenly discovered new evidence. The world’s wealthiest nations are now pursuing industrial policy so openly that it can no longer be denied to the rest of the world. When the geopolitical winds shift, so does the ideology of institutions where wealthy nations' interests are deeply entrenched.
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In a new major report, the World Bank conceded that its decades-long war on industrial policy was wrong, saying its old advice “has not aged well — it has the practical value of a floppy disk today.”
But this is not an intellectual awakening.
The World Bank's doctrine shifted because the means through which Western nations can maintain their dominance shifted — not because economists suddenly discovered new evidence.
The world’s wealthiest nations are now pursuing industrial policy so openly that it can no longer be denied to the rest of the world.
When the geopolitical winds shift, so does the ideology of institutions where wealthy nations' interests are deeply entrenched.
English
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Statistical Rethinking 2026 is done: 20 new lectures emphasizing logical & critical statistical workflow, from basics of probability to causal inference to reliable computation to sensitivity. It's all free, made just for you. Lecture list & links: #calendar--topical-outline" target="_blank" rel="nofollow noopener">github.com/rmcelreath/sta…
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An absolute banger of a paper.
“A Gentle Introduction to Matrix Calculus” by econometrics legend Jan Magnus — one of the clearest explanations of matrix derivatives ever written.
If you work in econometrics, machine learning, statistics, or optimisation, this paper is pure gold.
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People don't hate math; they hate the feeling of being lost. They hate the compounded debt of unlearned prerequisites.
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What helped me get over myself was reading about Von Neumann. Genius among geniuses, but he was a jovial guy. He didn’t really like the brooding genius types like Oppenheimer. He was drawn to Feynman, also an easygoing titan.
It made me think, who am I to act so self-important?
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Hayek's insight was one of the most important in economics. Not only is the economic knowledge dispersed but the very actors do not know what knowledge they have, and whether that knowledge makes sense or not, until an action takes place. So aggregation of knowledge is simply impossible.
That does not make central planning "impossible" (as said below), but it makes central planning inefficient because it can never access all decentralized information--much of it, as I said, in nascent and yet not fully formed state.
Nick Hudson@NickHudsonCT
The most important lesson in all economics is this one:
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Modern machine learning is basically playing legos with these:
Alex Smith@ninja_maths
I'm happy to announce that we've just released a major update to our Mathematics for Machine Learning course! Here’s a summary of what's new.👇
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🚨BREAKING
Iranian media has released an animation titled "Lord of the Straits," themed around the Strait of Hormuz.
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Kolmogorov-Arnold causal generative models ift.tt/BbwgakT
Slovenščina
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The main goal of Bayesian ML research is to show that all methods which have previously been shown to work well in practice are somehow approximately Bayesian
CLaE@leafs_s
Transformers are Bayesian Networks arxiv.org/abs/2603.17063
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As foretold...
Justin Sandefur@JustinSandefur
The World Bank's 1993 "East Asian Miracle" report attributed the miracle to macroeconomic fundamentals, not state intervention. "Industrial policy" would remain taboo for 30 years. In a new JEP symposium, @nancymbirdsall -- who oversaw the report -- reassesses that call. 🧵
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physical systems (orbits/fluid mechanics) may look complex, but are often governed by simple equations/few parameters. can current self-supervised methods learn the underlying physics?
our new paper finds that learning in latent space may be the key!
arxiv.org/abs/2603.13227🧵
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New Acemoglu et al. paper: AI may boost short-term decision quality but can erode the learning incentives that sustain collective knowledge in society, creating a risk of long-run knowledge decline or collapse.
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