Crémieux Profile picture
Mar 28, 2024 9 tweets 4 min read Read on X
The American nuclear industry illustrates negative learning: the costs of plants have increased over time.

But this is not nuclear's fault. Almost everywhere else, the learning rate is positive: costs decline as the industry gains experience building!

🧵

Consider France:Image
The U.S. has really only been experiencing cost overruns since the Three Mile Island incident, and the reason has to do with the industry becoming overregulated as a result of the public outcry that ensued. Image
In general, nuclear cost overruns are driven by indirect costs, like having to hire more safety professionals due to added regulatory burdens.

Those explain 72% of the price hike in the U.S., 1976-87: Image
In a more recent OECD report on nuclear from 2020, it was noted that "indirect cost[s] are the main driver of these cost overruns" and 80% of those indirect costs are attributable to largely unnecessary labor. Image
The regulatory costs levied against nuclear are so extreme that they can make components cost 50 times what they should, like in the case of 75 mm stainless steel gate valves.

The main factor differentiating nuclear and industrial grade? Unnecessary quality certification. Image
The question is less "Why is nuclear expensive?" and more "Why is nuclear overregulated?"

And the reason isn't clear-cut. It's obvious it's not so simple as saying "ALARA!", since many countries manage positive learning despite sticking to the same philosophy.
It's more likely a combination of factors involving activism

Thanks to activism, the U.S. nuclear fleet won't achieve French emission levels because, under the Carter administration, activists managed to get reprocessing banned, tarring nuclear's reputation via the 'waste' issue
In any case, nuclear remains a viable option for cleanly powering the future, and continued research into it is necessary for taking us into the stars.

Moreover, for consumers, it remains beneficial ($!) so long as intermittent forms of generation are, well, intermittent.
There's more that can be said, but I'll cut it off there

Sources:







To read way more on this, check out this IFP piece:

And a Construction Physics favorite: oecd-nea.org/upload/docs/ap…
sciencedirect.com/science/articl…
sciencedirect.com/science/articl…
ifp.org/nuclear-power-…
construction-physics.com/p/why-are-nucl…

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More from @cremieuxrecueil

Jan 26
Thread.

On the left, you can see a map of corruption indexed by the number of mob crimes per 100,000. On the right, you can see corruption indexed by how much people steal from the public purse.

And in the middle, a map of inbreeding.

Clannish people do clannish crimes. Image
Though it's noted in the image, I want to reiterate that the corruption measure on the right is reverse-coded, so higher values indicate lower corruption.

The correlations with consanguinity are 0.65 and -0.52, and they hold up splitting the country in half and in other specs.
Outside of Italy, in the wider world, corruption perceptions also relate to consanguinity.

The correlation is high, and far from perfect, but both measures contain error, so keep that in mind. Image
Read 26 tweets
Jan 26
The largest price-fixing operation in U.S. history took place when @tevapharm hired a woman to do "price increase implementation."

Through LinkedIn & Facebook, she organized a multi-billion dollar cartel, singlehandedly increasing generic drug prices.

There are lessons here🧵 Image
When the cartel started, the companies in question started filing ANDAs, the FDA's "Abbreviated New Drug Applications" to start selling a generic version of an existing drug.

You can see that the involved parties started filing and getting approvals en masse.Image
When the log(price) hikes are stratified across markets, we see that the cartel was either better able to or more greatly desired to keep prices elevated in smaller markets.

Which makes sense! When the drug is rare, it's easier to successfully collude. Image
Read 14 tweets
Jan 25
Multifamily rental management companies have recently begun adopting algorithmic pricing tools to adjust their rents.

In recent years, about a quarter of buildings and a third of all units are managed with these tools.

What's the effect?🧵 Image
The answer to this question depends on when you ask it.

Early adopters who picked up the technology in 2007, for instance, saw small decreases in asking rents, as well as small increases in occupancy rates.

Algorithmic pricing was making the market better for customers! Image
But, later adopters who picked up the technology in 2013 saw increases in rents and declines in occupancy.

The impact of algorithmic pricing had gotten less consumer-friendly over time.Image
Read 14 tweets
Jan 18
The end of affirmative action should have brought about major changes at American universities.

But did it?🧵

One piece of evidence it did is that the Black student share declined: Image
Another piece of evidence is that the Hispanic share declined: Image
And, consistent with Whites and Asians no longer trying to bilk the system, the multiracial share also dropped: Image
Read 10 tweets
Jan 17
It's well-known that a very small portion of the total criminal population is responsible for the overwhelming majority of all crime.

A new study shows that this is also true of prison misconduct:

Just 10% of prisoners are responsible for more than 70% of misconduct in prisons! Image
The above numbers were for males. Here are the numbers for female prisoners.

The numbers are eerily similar. Image
Misconduct overrepresentation holds adjusting for time served in prison, and being a high-misconduct prisoner is predicted by being younger, Black, having a more extensive criminal history, being a violent criminal, being in a state facility, using drugs, and mental disorders.
Read 5 tweets
Jan 16
I used to like this chart, but now I think it's too misleading and we should leave it behind in 2024.

🧵 Image
The key issue is how household size is adjusted for.

In the OP image, they divide by the square root of household size. This is problematic because it means Gen Z incomes are being inflated to the extent they live with their parents.
Generally, when I hear that the younger generations are more successful, what I think is that they're more successful in the stereotypical ways:

They've got relatively better jobs, relatively bigger homes, relatively faster cars and all that.

But the OP graph isn't that.
Read 8 tweets

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