Tag Archives: 2023

Michael Boskin on 2023

Is Michael Boskin an important person to listen to? I don’t know, but I appreciate a variety of people posting about what they think were the important events of 2023. Michael Boskin is “Professor of Economics at Stanford University and Senior Fellow at the Hoover Institution. He was Chairman of George H.W. Bush’s Council of Economic Advisers from 1989 to 1993”. Anyway, he mentions…

the US economy’s “soft landing,” the war of attrition in Ukraine, Hamas’s terrorist attack and its fallout, explosive advances in AI, and the loss of two great American public servants.

Project Syndicate

The two public servants were Henry Kissinger…

Kissinger’s “balance-of-power” realpolitik certainly had its detractors, especially owing to civilian causalities in Cambodia, Vietnam, and East Timor. But history will mark him (along with Shultz) among America’s greatest diplomats – together with Dean Acheson, George Kennan, and George Marshall, who helped President Harry Truman establish the post-World War II economic and security commons.

Okay – I might note that the civilian casualties were numbered in the MILLIONS. And Truman presided over those fire and nuclear bombings of major European and Japanese cities.

and Sandra Day O’Connor…

O’Connor, the first female justice, was pragmatic, conservative, humble, charming, and tough, but never mean. Had she been a liberal Democrat, more statues and public infrastructure would bear her name. As the swing vote on the Court for decades, she often rejected absolutist positions on hot-button issues such as abortion and affirmative action and fashioned compromises that a large majority of Americans could accept.

I’ll admit to being fairly ignorant of Sandra Day O’Connor’s career. One thing I think we can certainly say is that the reputation and legitimacy of the court has declined since her day. I would take “pragmatic, conservative, humble, charming, and tough” over “corrupt as the day is long” like some of the yahoos we have on there now, and for the foreseeable future.

sexiest people sorted by pronoun, 2023 edition

The 2023 sexiest person of the year, somewhat obviously, is Taylor Swift, who is also the Time Person of the Year. I can’t argue with that too much, although I think it tells us something whether the person of the year comes from pop culture rather than than the serious worlds of, say, politics or science. At the moment, I think it tells us that we are burnt out on serious things and we want to stick our heads in the sand and ignore them.

Who would I pick, if I were going to pick someone from the serious world? That’s a tough one. I almost want to tip my hat to Jimmy Carter because we really need serious voices for peace in the world right now. But then again, Nobel Prize winners might not want to be greedy. I may have to keep thinking.

Meanwhile, it is mildly ironic that “People” magazine still names a sexiest “man”. I don’t really have a problem with this – People magazine doesn’t pretend to be about anything other than pop culture. And I still see men here and there every day despite the various endocrine disrupting compounds in our water and consumer products. This year’s sexist middle aged Caucasian actor I haven’t heard of is Patrick Dempsey. Congratulations, Patrick. I am sure you are awesome, it is just that I am not paying attention to your particular corner of pop culture. I note that you have a few gray hairs, so maybe my chances of being the sexiest man alive at some point in the future are not completely dead.

Bill Gates on 2022 and 2023

This article is subtitled “My Wish for 2023”, but it is mostly about what the Gates Foundation did in 2022. He says the world moved backward on polio, but it can and should be eradicated, and we know how to do it. Infant mortality in developing countries can be reduced by using cheap ultrasound machines powered run by smartphone apps to identify high-risk pregnancies, stretching the limited pool of medical expertise (and it seems like this sort of thing could save money in developed countries if it could be done at home in combination with a telehealth session, at a pharmacy or neighborhood clinic say in a school or library, by a technician showing up at your door at a convenient time, etc.) He is predicting a gene-therapy based cure for HIV in 10-15 years. He says a gene therapy based cure for sickle cell disease is available now, but prohibitively expensive or unavailable in developing countries where the disease is common.

2022 roundup roundup

Finally, I’ve come to the point where the 2022 recaps and 2023 predictions are rolling in faster than I can deal with them in individual posts. Here are a few highlights:

Five Thirty Eight – “Numbers that Defined 2022”

  • The U.S. hit a record low poverty rate of 7.8%. This is expected to increase with the end of pandemic support programs. I would like to think that low unemployment and rising wages also have something to do with this.
  • 47% – “the percentage of Republican candidates who ran for House, Senate, governor, secretary of state and attorney general this year and didn’t accept the legitimacy of the 2020 election.” We know politicians are in the business of getting elected, but it is still disturbing that they are this morally flexible. If they have to be this morally flexible to get elected, then we have a system that is selecting the most morally flexible among us to lead us.
  • Inflation – 9.1%. We know, we know.
  • The Republican margin in the House – 9. Lower than expected for a mid-term election year, still probably enough to stand in the way of much legislative progress over the next two years. It’s amazing to me how quickly we swing back and forth from doom and gloom sentiments about one party or the other. They seem relatively evenly balanced, and the one thing that is certain is that the two of them together are dominant and creating a very effective barrier to major new parties or ideas breaking in.

Lawfare – “The Year that Was (2022)”

Coverage of what some people call “the blob”, also known as the military-industrial-intelligence complex.

  • January 6 – the trials and the committee; the Mar-A-Lago raid and investigation
  • “climate security” – in my view, the article somewhat misses the mark on the coming storm of drought, famine, sea level rise, migration and geopolitical instability the world may be in for. Then again, the article is a look back, not a look ahead.
  • The Ukraine war of course, and more broadly the U.S., NATO and Russia. Also the U.S. and China, of course. “Great Power Competition” seems to be a theme.
  • “massive protests in Sri Lanka, Iran, China, Peru, and elsewhere”. I admit, I forgot about Sri Lanka and I don’t understand the situation in Peru. And where exactly is “elsewhere”?
  • “Cyber” – a noun or an adjective? The important geostrategic conclusion is that it used to be adjective, but it has become a noun now and there is no turning back. Microsoft is an “integral player in Ukraine’s cyber defense.” (but that was an adjective right?)
  • Social media and content moderation. I just find it hard to get too excited about this. I still see the garbage on social media as more of a mirror of the garbage in our society than a cause of it. I am open to evolving my views on this. But one thing I never want is for my access to the world’s information on the internet to be curtailed.
  • The Supreme Court – overtly political, ideological, biased, and corrupt. Those are my words. Lawfare’s words are “high profile cases underlined the reality that justices are deciding cases largely on ideological lines. With a conservative majority on the bench, decisions led to an erosion of the powers of the administrative state and a decline in civil rights protections in cases where national security was at issue.”

Not mentioned – the ongoing grisly wars in Myanmar, Yemen, and various countries in Africa I am embarrassed I can’t name (Ethiopia?). Some new JFK-related files showing pretty clearly the CIA lied about its connections to Lee Harvey Oswald. Nuclear proliferation? The ethnic cleansing in Xinxiang province of China – does the U.S. press not mention this because we realize it would be hypocritical given our immense prison population, Guantanamo Bay, etc.? No, that can’t be it.

Project Syndicate – “Commentators’ Predictions for 2023”

  • Protests in Iran will continue, but the government will hang on. More broadly, the U.S. will focus on “great power competition” and neglect the greater Middle East. Turkey will have an important election in 2023.
  • “We are entering an era of high and rising debt, precarious jobs, a crisis of care, inflation, climate change, and food insecurity…” “Many scenarios that once seemed unlikely are becoming increasingly plausible, such as famine, sharply increasing poverty, mass displacements of people, cascading sovereign debt defaults, widespread energy shortages, and recurrent global health-induced disruption. All represent tragic reversals of progress.” (these are different commentators – please see the article for attributions.)
  • One thing everybody seems to agree on is that climate change is a big deal and in 2023 the world will continue…talking about it. Green energy technology and adoption will continue to accelerate regardless of government inaction, though.
  • Most people think Covid will continue to wind down in 2023.
  • Central banks may abandon their 2% inflation targets and settle for something higher if it means economies are growing.
  • Nobody wants to go out on a limb and predict that the Ukraine conflict will wind down in 2023.

The inflation numbers from 2022

FiveThirtyEight has a simple rundown of the inflation and interest rate numbers from 2022:

One of the most important numbers of 2022 was 9.1 percent. That was the inflation rate in June — the highest yearly increase since 1981…

Inflation has since cooled a bit, but as of November, consumer prices were still 7.1 percent higher than they were at the same time last year. And that’s affected the way families are celebrating the holidays. In a poll from before Christmas, 57 percent of those surveyed said that it was harder to afford the gifts they wanted to buy, up from 40 percent the year before. And 11 percent of respondents in another poll said they anticipated taking on some amount of debt for their holiday shopping…

To control this high inflation, the Federal Reserve raised its benchmark interest rate more than 4 percentage points over the course of the year, to the highest point in 15 years. Most observers agree that’s likely to cause a recession. What’s less clear is how bad it will be, and whether it curbs inflation as it’s intended to do. These are the unknown questions 2023 is poised to answer, and why the inflation rate is one of the most important numbers of the past year.

FiveThirtyEight

I found myself dipping into what are supposed to be emergency funds to cover my family’s normal living expenses toward the end of 2022, so yes I can understand that people who were barely making ends meet at the beginning of the year might be in trouble at the end of it. The good news is that almost anyone who wants a job should be able to find one, at least for now, and maybe not at the level of pay they prefer. The real pain comes if unemployment spikes while inflation is still high. The hope for 2023 would be that inflation continues to tick down toward a “normal” level of say 2-3%, while unemployment stays in its low range of say 3-5%. If that is where we are a year from now, our economy and society will feel more stable although of course we will still have serious inequality and social problems to work on.

And by the way, does “growth” really matter if people are employed and are able to buy the things they need and a reasonable amount of the things they want? I don’t see why, it seems like a very indirect measure.