What we’re reading (9/27)
“Investors Ramp Up Bets On Market Turmoil Around Election” (Wall Street Journal). “Investors are betting on one of the most volatile U.S. election seasons on record, wagering on unusually large swings in everything from stocks to currencies as they brace for what could be a weekslong haul of unpredictable events.”
“The ‘Black Hole’ Of Unemployment Benefits: Six Months Into The Pandemic, Some Are Still Waiting For Aid” (CNBC). “A deluge of applications — unprecedented in both speed and volume — placed enormous stress on states’ ability to process and pay claims as officials shuttered broad segments of the economy starting in March to reduce the spread of Covid-19. More than 1 million Americans continue to file for benefits each week, between state and federal programs. Six months into the crisis, more than 26 million people continue to receive aid from week to week.”
“What’s Wrong With Social Science And How To Fix It: Reflects After Reading 2,578 Papers” (Fantastic Anachronism). More on the so-called “replication crisis” in Academia. “People within the academy don't want to rock the boat. They still have to attend the conferences, secure the grants, publish in the journals, show up at the faculty meetings: all these things depend on their peers. When criticising bad research it's easier for everyone to blame the forking paths rather than the person walking them. No need for uncomfortable unpleasantries. The fraudster can admit, without much of a hit to their reputation, that indeed they were misled by that dastardly garden, really through no fault of their own whatsoever, at which point their colleagues on [T]witter will applaud and say ‘ah, good on you, you handled this tough situation with such exquisite virtue, this is how progress happens! hip, hip, hurrah!’ What a ridiculous charade. Even when they do accuse someone of wrongdoing they use terms like ‘Questionable Research Practices’ (QRP). How about Questionable Euphemism Practices? The bottom line is this: if a random schmuck with zero domain expertise like me can predict what will replicate, then so can scientists who have spent half their lives studying this stuff. But they sure don't act like it.”
“Wall Street Is Shunning Trump. Campaign Donations To Biden Are Five Times Larger” (CNN). “President Trump is promising four more years of low taxes, light regulation and a laser-focus on the stock market. Yet professionals on Wall Street are shunning Trump and funneling staggering amounts of money to his opponent. The securities and investment industry donated just $10.5 million to Trump's presidential campaign and outside groups aligned with it, according to a new tally by OpenSecrets. It has sent nearly five times as much cash, $51.1 million, to Democratic presidential nominee Joe Biden.”
“Pasta, Wine And Inflatable Pools: How Amazon Conquered Italy In The Pandemic” (New York Times). “Amazon has been one of the biggest winners in the pandemic as people in its most established markets — the United States, Germany and Britain — have flocked to it to buy everything from toilet paper to board games. What has been less noticed is that people in countries that had traditionally resisted the e-commerce giant are now also falling into its grasp after retail stores shut down for months because of the coronavirus.”
