braddelong.substack.com/p/sydney-colem…

I used to think that I would—someday—understand why Stern-Gerlach magnets arranged along the x-axis would knock an electron that was in the <↑| state in the z-basis into the z-basis <↓|. And I used to think I would—someday—understand why if we... 1/
rotated the magnets into the y-direction the little square-root-of-minus-one i’s would start appearing in the math…

Now I know that it is hopeless.

And, similarly, it is hopeless to ask why the triple measurement σ(1x)σ(2y)σ(3z) applied to the three electrons 1, 2, & 3... 2/
that are in Coleman’s entangled (<↑↑↑| - <↓↓↓|) state always produce the answer +1.

It is the Pauli matrices that are the underlying reality—or, at least, are our only through-a-glass-darkly shadowy and illusory simulacrum of understanding. They are not the things... 3/
that can be explained in terms of more fundamental principles. They are, rather, our feeble monkey-brain grasp of what the fundamental data are.

All of which is to say that Sydney Coleman’s Quantum Mechanics in Your Face lecture—the title of which, I am told in good... 4/
authority, is incomprehensible to Britishers, save that they suspect and fear that it is in some way obscene—is the best thing on the interpretation of quantum mechanics I have seen. Plus BRIEFLY NOTED: for 2021-03-17 5/END

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More from @delong

10 Dec 20
The point of departure for the overwhelming bulk of discussions of macroeconomic management from the accession of Arthur Burns to the accession of Jay Powell to the Chairship of the Federal Reserve was the adaptive-accelerationist Phillips curve.

What is #EGgrantee #EG2021 1/
What is the adaptive-accelerationist Phillips curve? It is the belief that the next year’s inflation rate will be equal to the inflation rate that labor and product markets expect—which is adequately proxied by what inflation has been #EGgrantee #EG2021 2/
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30 Nov 20
@Noahpinion You do know that this is my reading of the subtext in Mayk Boskin's "defense" <project-syndicate.org/commentary/rep…> against Larry Summers & Jason Furman of his claims <wsj.com/articles/how-t…> <project-syndicate.org/commentary/rep…> that the McConnell-Ryan-Trump TCJA tax cut for the rich would boost 1/
@Noahpinion GDP by 4-7%? The vibe in Boskin's piece is **very** defensive: "the end product usually diverges from what economists would consider ideal. ..." "the current tax bill could, in principle, have been better..." "the question, then, is whether a viable final bill will be better2/
@Noahpinion than the status quo..." "I certainly respect Summers and Furman’s right to their views..." "there are legitimate differences of opinion..." "the actual tax provisions people and businesses will be required to use have yet to be written..." Now if I had just played a role 3/
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22 Nov 20
@mattyglesias Matt--

I find myself more with @tomscocca here than you. You write <slowboring.com/p/whats-wrong-…> 'The problem here, to me, is not that Walker ought to “stick to sports.” It’s that the analysis is bad. But because it’s in a video game console review rather than a policy analysis 1/
@mattyglesias @tomscocca section and conforms to the predominant ideological fads, it just sails through to our screens...'

And then you say: 'What actually happened is that starting in March the household savings rate soared.... Middle class people are seeing their homeowners’ equity rise and... 2/
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12 Nov 20
…oliticaleconomy.pantheon.berkeley.edu/my-calendar/?m…

Matthew C. Klein, "Trade Wars are Class Wars." Fr 2020-11-13 12:00 PM PST: Trade Wars are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace." The talk will be moderated by Professor Brad DeLong (Economics) 1/
…oliticaleconomy.pantheon.berkeley.edu/my-calendar/?m…

Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the 2/
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rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today’s trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, 3/
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3 Nov 20
@paulkrugman brookings.edu/bpea-articles/…



Absolutely brilliant.

The sad thing is that so few got what I think is the principal message: In a full-employment flex-price economy, when you hit the zero lower bound the economy deals with it by generating inflation. If 1/
@paulkrugman think—as I do—that the task of the central bank is to make Say's Law true in practice even though it is false in theory & to mimic what a full-employment economy would do, that means: when you hit the zero lower bound, generate inflation.

But lots of people did not get that. 2/
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princeton.edu/~pkrugman/bern… was that its depression was self-induced, and that claims of monetary-policy impotence violated an arbitrage condition. So prolonged depression was the central bank's fault.

Yet 3/
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30 Sep 20
DeLongToday <delongtoday.com> earlier this morning. From the Q&A:

**Q: What did you think about the debate?** A: Back in the 1960s, SF State University President S.I. Hayakawa became a U.S. Senator—briefly—by making sure he controlled the microphone. Chris Wallace... 1/
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**Q: What do you think of the "Trump Economy"?** A: About the Trump economy, what is to say? Douglas... 2/
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