{"id":136,"date":"2026-01-26T16:09:27","date_gmt":"2026-01-26T15:09:27","guid":{"rendered":"https:\/\/urosevic1.ddns.net\/blogs\/?page_id=136"},"modified":"2026-01-28T08:38:13","modified_gmt":"2026-01-28T07:38:13","slug":"marginal-revolution","status":"publish","type":"page","link":"https:\/\/urosevic1.ddns.net\/blogs\/marginal-revolution\/","title":{"rendered":"Marginal Revolution"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/marginalrevolution.com\/wp-content\/themes\/marginal-revolution\/assets\/images\/svg-logo.svg\" alt=\"\" style=\"aspect-ratio:9.60960960960961;width:604px;height:auto\"\/><\/figure>\n\n\n\n<p>Marginal Revolution is the blog of Tyler Cowen and Alex Tabarrok, both of whom teach at George Mason University. MR began in August of 2003 and&nbsp;there have been new posts daily since that time. In numerous reviews and ratings over the years Marginal Revolution has consistently been ranked as the best or one of the best economic blogs on the web, but it is more (and less) than that, also representing the quirks of its authors.<\/p>\n\n\n<ul class=\"has-dates has-authors has-excerpts wp-block-rss\"><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/agi-could-lower-interest-rates.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=agi-could-lower-interest-rates' target=\"_blank\">AGI Could Lower Interest Rates<\/a><\/div><time datetime=\"2026-05-07T08:49:38+02:00\" class=\"wp-block-rss__item-publish-date\">7. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">Standard models predict that expectations of artificial general intelligence (AGI) should elevate long-term interest rates. I show that this prediction need not hold. I develop a heterogeneous-agent asset pricing model in which AGI, or more broadly, transformative AI (TAI) capable of automating most human labor, can lower interest rates even as it dramatically accelerates growth. [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/william-stanley-jevons-as-polymath.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=william-stanley-jevons-as-polymath' target=\"_blank\">William Stanley Jevons as polymath<\/a><\/div><time datetime=\"2026-05-07T06:52:52+02:00\" class=\"wp-block-rss__item-publish-date\">7. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">In the 1860s Jevons built a Logical Abacus, sometimes called a logical piano, a kind of early computer that could perform (some kinds of) logical operations faster than humans could. It is held in the Museum of the History of Science at Oxford University, and you can think of its structure and operation as broadly [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/justin-wolfers-update.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=justin-wolfers-update' target=\"_blank\">Justin Wolfers update<\/a><\/div><time datetime=\"2026-05-06T22:50:07+02:00\" class=\"wp-block-rss__item-publish-date\">6. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">Wolfers\u2019s moment of clarity ultimately sent him down a road less traveled by academic economists: creating his own media company. On Wednesday, Wolfers, 53,\u00a0announced\u00a0that he had founded Platypus Economics, an independent media start-up that aims to reach a mainstream audience. The name is a nod to his Australian roots, cheekily referring to the odd-looking mammal [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/ice-has-not-improved-u-s-labor-markets.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=ice-has-not-improved-u-s-labor-markets' target=\"_blank\">ICE has not improved U.S. labor markets<\/a><\/div><time datetime=\"2026-05-06T20:14:11+02:00\" class=\"wp-block-rss__item-publish-date\">6. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">We provide the first causal, national empirical analysis of the labor market impacts of heightened immigration enforcement during the second Trump administration. Enforcement increased everywhere, but, we take advantage of the fact that the increases have been uneven across geographic areas to classify areas as treated or control and then implement an event study and [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/wednesday-assorted-links-552.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=wednesday-assorted-links-552' target=\"_blank\">Wednesday assorted links<\/a><\/div><time datetime=\"2026-05-06T18:00:44+02:00\" class=\"wp-block-rss__item-publish-date\">6. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">1. \u201cWe find evidence of LLMs enabling people to file lawsuits without lawyers (filing \u201cpro se\u201d) at historically unprecedented rates in federal courts.\u201d 2. The persistent apartheid infrastructure of Cape Town, as experienced through bicycle (NYT). 3. Interviews with famous economic historians. 4. The AI job displacement worry. 5. \u201cThe administration lacks authority to mandate [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/korean-banana-markets-in-everything.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=korean-banana-markets-in-everything' target=\"_blank\">Korean banana markets in everything<\/a><\/div><time datetime=\"2026-05-06T08:56:22+02:00\" class=\"wp-block-rss__item-publish-date\">6. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">Did you know Korea sells \u201cone-a-day\u201d banana packs? Instead of every banana ripening at once, each one is at a different stage. One is ready today. The next one is ready tomorrow. The last one is still spiritually in college, \u201cexperimenting.\u201d Simple. Genius.\u00a0Solves the entire banana problem. What do you think? Would you prefer your [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/what-ive-been-reading-287.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=what-ive-been-reading-287' target=\"_blank\">What I\u2019ve been reading<\/a><\/div><time datetime=\"2026-05-06T06:12:59+02:00\" class=\"wp-block-rss__item-publish-date\">6. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">1. David Narrett, The Cherokees in War &amp; at Peace 1670-1840.\u00a0 An excellent book, one of the two best books on a single Native American tribe I have read.\u00a0 The book actually aims at explaining the Cherokees and enlightening the reader \u2013 how rare.\u00a0 In 1700, there were no more than 20,000 Cherokees, mostly in [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/tuesday-assorted-links-567.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=tuesday-assorted-links-567' target=\"_blank\">Tuesday assorted links<\/a><\/div><time datetime=\"2026-05-05T18:09:00+02:00\" class=\"wp-block-rss__item-publish-date\">5. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">1. How many buildings are \u201ctrapped buildings\u201d? 2. Rachel Glennerster defends RCTs in development economics. 3. Why do airlines go bankrupt so often? 4. Why is southern Italy poorer than northern Italy? 5. The economics of correspondence schools in earlier American history. 6. African education is doing worse than we think. The post Tuesday assorted [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/rose-farts-and-the-invisible-hand.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=rose-farts-and-the-invisible-hand' target=\"_blank\">Rose Farts and the Invisible Hand<\/a><\/div><time datetime=\"2026-05-05T13:21:10+02:00\" class=\"wp-block-rss__item-publish-date\">5. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Alex Tabarrok<\/span><div class=\"wp-block-rss__item-excerpt\">In Modern Principles, Tyler and I show the invisible hand by telling the story of how the increase in oil prices in the 1970s encouraged millions of adjustments in how goods were produced and allocated, everything from an increased use of brick for driveways to a movement of the flower market from the US, which [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/the-best-study-to-date-on-school-phone-bans.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=the-best-study-to-date-on-school-phone-bans' target=\"_blank\">The best study to date on school phone bans<\/a><\/div><time datetime=\"2026-05-05T09:31:03+02:00\" class=\"wp-block-rss__item-publish-date\">5. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">Schools across the U.S. have sharply restricted student use of phones during the school day. We evaluate one type of restriction\u2014lockable phone pouches\u2014using nationwide data combining large-scale surveys, GPS pings, standardized test scores, and school administrative records, along with sales records from the largest pouch provider. Using a staggered difference-in-differences design, we find that pouch [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/is-psychotherapy-underdiscussed-these-days-from-my-email.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-psychotherapy-underdiscussed-these-days-from-my-email' target=\"_blank\">Is psychotherapy underdiscussed these days? (from my email)<\/a><\/div><time datetime=\"2026-05-05T06:56:19+02:00\" class=\"wp-block-rss__item-publish-date\">5. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">I listened to your recent conversation with Arthur C. Brooks and found myself struggling with his core premise. His framing of happiness seems to reduce it to something like a biological or behavioural optimisation problem, which feels quite far from how psychotherapy traditionally and historically understands it. I tried to find where he engages with [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/what-should-i-ask-martha-nussbaum.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=what-should-i-ask-martha-nussbaum' target=\"_blank\">What should I ask Martha Nussbaum?<\/a><\/div><time datetime=\"2026-05-05T00:10:59+02:00\" class=\"wp-block-rss__item-publish-date\">5. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">Yes, I will be doing a Conversation with her.\u00a0 Most of all focusing on her recent book The Republic of Love: Opera and Political Freedom. So what should I ask her? The post What should I ask Martha Nussbaum? appeared first on Marginal REVOLUTION.<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/trade-and-the-end-of-antiquity.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=trade-and-the-end-of-antiquity' target=\"_blank\">Trade and the End of Antiquity<\/a><\/div><time datetime=\"2026-05-04T20:04:23+02:00\" class=\"wp-block-rss__item-publish-date\">4. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">What was the role of trade, and how did economic activity evolve at the End of Antiquity, when political power shifts away from the Mediterranean towards northern Europe and the Middle East? To answer those questions, we assemble a database of hundreds of thousands of ancient coins from the fourth to the tenth century, estimate [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/monday-assorted-links-558.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=monday-assorted-links-558' target=\"_blank\">Monday assorted links<\/a><\/div><time datetime=\"2026-05-04T17:29:37+02:00\" class=\"wp-block-rss__item-publish-date\">4. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Tyler Cowen<\/span><div class=\"wp-block-rss__item-excerpt\">1. Ezra Klein on whether AI is likely to lead to mass unemployment (NYT). 2. There is a great Kentucky Derby stagnation. 3. Is open source AI overrated? 4. The deadweight loss of the human capital in prison? 5. How AI is transforming China\u2019s entertainment industry (NYT). 6. \u201cTwelve free, citation-rigorous tools for the students, [&hellip;]<\/div><\/li><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/marginalrevolution.com\/marginalrevolution\/2026\/05\/the-southern-poverty-law-center-indictment.html?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=the-southern-poverty-law-center-indictment' target=\"_blank\">The Southern Poverty Law Center Indictment<\/a><\/div><time datetime=\"2026-05-04T13:17:55+02:00\" class=\"wp-block-rss__item-publish-date\">4. May 2026<\/time> <span class=\"wp-block-rss__item-author\">by Alex Tabarrok<\/span><div class=\"wp-block-rss__item-excerpt\">The excellent Patrick McKenzie has a very long Bits About Money post on the the Southern Poverty Law Center (SPLC) indictment. It is filled with details about bank operating procedures. I\u2019m going to summarize. The post is divided into what I think of as two parts. First, did the SPLC commit bank fraud? Second, what [&hellip;]<\/div><\/li><\/ul>","protected":false},"excerpt":{"rendered":"<p>Marginal Revolution is the blog of Tyler Cowen and Alex Tabarrok, both of whom teach at George Mason University. MR began in August of 2003 and&nbsp;there have been new posts daily since that time. In numerous reviews and ratings over \u2026<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-136","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/pages\/136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/comments?post=136"}],"version-history":[{"count":2,"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/pages\/136\/revisions"}],"predecessor-version":[{"id":141,"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/pages\/136\/revisions\/141"}],"wp:attachment":[{"href":"https:\/\/urosevic1.ddns.net\/blogs\/wp-json\/wp\/v2\/media?parent=136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}