Jonathan A. Parker retweeted
I get a lot of emails from prospective students/collaborators. I don't know if faculty more generally feel this way, but my advice:
1. If you're interested in our PhD program, just apply. I can assure you that we review every applicant. You don't need some prior relationship.
2. If you're a student wanting to get into research, just do research projects on your own that you think are interesting. I could never provide mentorship better than having the experience of working on a question you think is interesting and seeing where it takes you. The work you produce will almost certainly be terrible but the experience & feeling is important.
Reminder: Trump’s actual casino went bankrupt
Axios' @mikeallen asks Treasury Secretary Scott Bessent if he regrets saying "I am the house now."
Bessent: "No, because look, the house doesn't win every hand. The house plays percentages."
Jonathan A. Parker retweeted
I'm not sure who saw this coming, but so far nearly all the jobs created during the second Trump administration have gone to women.
ALT Line chart titled "So far during Trump's second term, just 8% of all job growth has gone to men" showing change in employment by gender since January 2025. Total nonfarm employment grew by 776,000 jobs through September 2026, with women gaining 711,000 positions (92% of growth) while men added only 65,000 jobs (8% of growth). Women's employment gains accelerated sharply through 2026, reaching 711,000 by September, while men's employment growth remained flat with brief periods of decline, including a drop of 96,000 jobs in February 2026.
Why RDs can be biased. . .
Also, buy now to ensure the authors remain their own subjects (and they are everywhere on my X feed)!
Hi Friends,
Thanks for all the support for the Everywhere Millionaire. Based on bookscan sales data, it looks like we are right on the bubble of the best seller list in business for September, so if you could pick up a copy at a local bookstore *in the next few days*, suggest the book to friends, retweet this message, or post about it - we’d greatly appreciate it!
bookshop.org/p/books/the-eve…
The Republican Party didn’t use our public money to buy a political ad did they? Sounds Stalinist to me.
The U.S. Government ran this spot nationally tonight on FOX during the second quarter of Northwestern at #5 Indiana --
Jonathan A. Parker retweeted
Chris put together a really cool online version of the paper with interactive figures. It gives versions of our empirical figures under different assumptions etc. Which, we hope, is useful for readers! I'll write a thread on the empirics next week.
chrisedmond.net/unbundling-l…
In a new theory of bundling frictions, increasing productivity of cognitive skills explains changing patterns in within occupation wage inequality in the US, from @chrisedmond and @Simon_Mongey nber.org/papers/w35783
After missing my connection, I’m in Copenhagen without a lot of sleep so this may bit a bit too something, but I’m having a moment appreciating globalization, at the restaurant bar, a glass of French wine, people with ancestry from all over, & old slow southern rock in the air.
Jonathan A. Parker retweeted
Replying to @WhiteHouse
Denmark just pulled off the diplomatic heist of the decade. They basically got Trump to re-sign the 1951 Greenland agreement, but added a genius "poison pill":
the deal is only valid as long as the US stays in NATO. Denmark quietly locked them into the European security architecture.
Masterful.
Great article.
In Fighting for Every Black Child, Did I Betray My Own? nytimes.com/2026/09/20/magaz… via @NYTimes
“While I strongly recommend reading this book, I am not in agreement with its philosophical stance.”
What a crazy idea in 2026. Universities, man.
Alvin Roth, Moral Economics: From Prostitution to Organ Sales, What Controversial Transactions Reveal About How Markets Work
is one of the most valuable books published by an economist in 2026. The book synthesizes and distills Alvin Roth's thinking about repugnant transactions and does so in an exceedingly readable fashion. The discussion emphasizes the importance of considering the consequences of bans on transactions, with many interesting examples given. Roth is circumspect in drawing strong policy conclusion and is more concerned with emphasizing the costs of restrictions based on a priori moral positions.
While I strongly recommend reading this book, I am not in agreement with its philosophical stance. The reason is that I consider it appropriate for a society's vision of human dignity and virtue to be a significant part of the calculus in the design of rules and laws than I conclude Roth believes from both this book and his other writings. John Stuart Mill 's no harm principle deserves much respect. But I believe that there are good reasons to treat dignity, virtue, achievement, as justifying laws/institutions that promote dimensions of positive as well as negative liberty. In this sense, I follow the positive freedom tradition associated with TH Green; I recommend Rethinking Positive and Negative Liberty Maria Dimova-Cookson which articulates a view of freedom that contains positive and negative dimensions that I found most appealing. Hence, I would argue that laws against animal fighting are justified both because of the harm done to the animals and the unworthiness of the pleasures given to those who enjoy them, heroin should be illegal because of the damage it does to addicts, etc. I might argue that Mill's vision of a good life, which involves individuals' progressive development of their capabilities, in the spirit of David Brink, gives some scope for the values I am advocating. None of this solves slippery slope problems that emerge from relaxation of Mill's no harm principles and the like, but I do not think slippery slope arguments are dispositive. Nor does it mean that there are no domains that are off limits, in particular Rawls' primary goods are sacrosanct. But whether I am correct or not is irrelevant to my recommendation of Roth's fascinating book.
Wow! Looks amazing.
nytimes.com/2026/09/17/arts/…
For those wondering, the Chicago nonprofit that sued and blocked this from Chicago — anonymous in the NYT article is
fotp.org
What happened when China moved from a state-run, state-owned economy to a much more capitalist economy. Yes, there was Tiananmen Sq, general repression, and horrific treatment of the Uygurs and many other Chinese citizens, but Xi and his predecessors also get credit for this.
Um, how is this insane? I mean it seems obvious. If you are trying to sell something, you try to find the people who will pay the most and make you the most money. And if you buy or bet, you should shop around for the best price or you likely overpay.
The key missing phrase “in the past, at lower debt levels than are projected in the future.”
Based on the history of debt crises, a 100 billion increase in treasury supply at could lead to a 1000 basis point increase in interest rate rates, or more. I hope not.
Jonathan A. Parker retweeted
I found @dwarkesh_sp excellent interview of @openai's @polynoamial deeply disturbing. There are at least three key reasons why I believe @openai's thinking and analysis is dangerously misguided. Quotes are of @polynoamial
1. "There is a real problem that the agents want to achieve their reward, and they will optimize for that reward. If that reward is misspecified, then that could lead to unintended behavior.".
"We can make sure that the AI is very aligned according to the metrics that we have. The question is, are those metrics really capturing the alignment that we care about? If they’re not, then we have a serious problem. "
This ignores the most crucial economic insight on incentives and evaluation, first expressed by my colleague Charles Goodhart in the 70s. When you use any metric to provide incentives, it stops working, because people manipulate it. This is key: Even if the metric was right before it was used to provide incentives, it stops being right after. Doctors who are monitored on survival rates or patients will stop picking the difficult cases. Teachers evaluated on students test results will teach to the test. Police who are measured on conviction rates stop pursuing the hard to prove cases. Note the reward is not misspecified. In advance, it is the right reward. The problem is that once you put all the pressure of optimization the agents find ways around it.
Obviously, for Reinforcement Learning of agents the problem is much, much harder for a simple reason: the agents are already smarter than us.
While some answers to Dwarkesh questions on this show awareness of this problem (.e.g. see below on chain of thought monitoring) there was not once any acknowledgement that this observation puts the entire approach at risk.
2. "if you’re in a world where they can operate effectively over three months, but the model release cycle is every two months, then you don’t have a way to evaluate the models at the full length of their capabilities before the next model release cycle.
So there is this interesting question of, what do you do in that situation? How do you ensure the models are safe and aligned in a period where they can operate over these extremely long horizons."
An interesting question???? Sorry but @JensenHuang is right here. You are the engineers deciding this release cycle!!! You are the leading lab. If the evaluation of the model is not ready, do not release it! This is not rocket science: if the horizon of persistence is 3 months, then wait there months to see your experiment. You are not a passive observer. You are the key player.
3. " As soon as we got the reasoning models, Jakub, to his credit, was very, very clear that we cannot supervise chain of thought. Because this is really a gift. Monitorability for neural nets is extremely hard. Here we have a situation where the neural nets are just flat out reasoning, laying out their thought process in natural language for us to read. That is so convenient. It is really the best-case scenario for safety......Now, the problem is that it’s very tempting to then intervene based on that observation and change the alignment metrics.
You can do that with a very light touch, and there’s actually research showing that it’s fine as long as you don’t do it a lot. But every time you intervene based on your observations of the chain of thought, you are implicitly applying a tiny bit of pressure for the model to then hide its chain of thought. This is one major concern. We’re already seeing signs that chain-of-thought monitorability is degrading, for various reasons. We’re trying to figure out exactly why, because we want to reverse the trend."
Obviously, you don't need to figure anything out. You are using it ,the model is adapting, and we will lose the ability to know what is going on
The labs are playing with fire, they know they're playing with fire and we are going to get burnt.
Link below to interview and transcript.
Jonathan A. Parker retweeted
Michael Kremer is the new chief economist at the World Bank. Ten years ago, he wrote "The New Role for the World Bank" (with Michael Clemens) in the JEP. Here's a link to the article and the abstract:
aeaweb.org/articles?id=10.12…