@TomBrady on fire tonight. Top 5 humble brag: “I think more about our 3 losses more than our 7 wins [in the Super Bowl].” @tonyromo on top of X’s and O’s. But Brady throwing zingers.

@AJHolmgren @arpitrage True, but a lot of the endowment is from old donors, right? So that doesn’t depend on repeat play. Also, universities don’t publicize restrictions.

1/ What fraction is actually restricted in a manner that stops use on research or facilities that support research? Universities try hard not to commit to restriction. 2/ The law does not do a great job of enforcing donors restrictions. Also, many donors simply do not sue, even if their restriction is violated. Especially for gifts from people’s estates. Recall the Woodrow Wilson example. UChicago is litigating this now. 3/ Money is fungible. Universities can reallocate money that is being spent on the restricted use two research support. Then fill in the hole in restricted use by the endowment. I think your answer is stronger for universities that have smaller endowment, but substantial grants. What would be interesting is to see a plot of endowments on the X axis and fraction of funding from the government on the Y.

RT @rohlamba: Week 6: The theory paper in focus this week is the iconic "Electronic mail game" by @ArielRubinstein. It is characteristic Ru…

@_alice_evans @robinhanson @tylercowen @BrianCAlbrecht Q is time frame. Over 50y you can see big changes.

RT @NTFabiano: Children with autism have hyperconnected brains. 🧵1/9

Because it is subject to collective action problems and changes are mediated by evolution, culture may adapt more slowly than supply of goods, but it will happen.

@ATabarrok @MTabarrok @ben_golub

Worth a discussion

@ash_craig @BrianCAlbrecht Is there a canonical article I can read. I’ve missed this thread in the lit. Ideally something addressing welfare loss w uneven sales taxes.

@BrianCAlbrecht Wait, they try to teach macro accounting identifies in econ 101. Like,…that’s still a thing?

I think you and I are talking about different things. I agree that many economists want a consumption tax in the United States. That is as a replacement for the current income tax with all its deductions and narrow own base. I’m talking about, however is that very few economist are talking about making sales taxes across state uniform. Even if they don’t use it to replace existing income or capital gains taxes.

@ash_craig @BrianCAlbrecht Hmm. Is this a thing we discuss in the US? I understand the Europe point. But in the US, we’re like, “the dormant commerce clause solved this.” Uhm, maybe not. Maybe I just missed the key econ articles on the remaining US problem.

For those who enjoy court transcripts, get your popcorn and grab a seat. (And no, you don’t have to defend your entertainment preferences to anyone!)

It’s a bit ironic that I’m reading this on X.