Bad Economic News

…for those looking for bad economic news. Productivity is surging:

The Labor Department reported that productivity — the amount of output per hour of work — jumped at an annual rate of 4.9 percent in the July-September quarter. That was double the 2.2 percent rise in the second quarter and represented the fastest surge in worker efficiency since 2003.

At the same time, wage pressures eased with unit labor costs dropping at an annual rate of 0.2 percent, the best showing in more than a year.

I blame George Bush.

Lumpy Planet

Everyone (well, OK, not everyone, but most people interested in this kind of stuff) is familiar with “mascons” (mass concentrations) on the moon, that cause perturbations and instability in the orbits of objects around it. Interestingly, though, the earth’s gravitational field isn’t all that symmetric, either, based on results from the GRACE satellites. I think that it’s kind of amazing how sensitive these detectors are:

The concept is simple. The two satellites, each about three metres long, follow each other in identical orbits roughly 400 kilometres above the Earth and 210 kilometres apart. Microwave instruments measure the distance between them, precisely enough to detect variations smaller than one percent of the width of a human hair.

“[It’s as though] you have two automobile-sized things, one in Los Angeles and one in San Diego, and you’re measuring the distance between them to the size of a red blood cell,” says Watkins.

As one satellite and then the other passes through wrinkles in the Earth’s gravity field, they speed up or slow down slightly, shifting the distance between them. By measuring these tiny yo-yos, scientists can calculate the gravity field that produced them, mapping the entire Earth about once a month.

But the dispersions are much smaller, relative to the size of the body, so it doesn’t create the same levels of perturbations that can result in instability. Pretty cool graphic.

A Question For Kevin Drum

…whom I’ve met and, despite our many political differences, usually seems a sensible individual.

What is a “wingnut”? Everyone at his site seems to toss the term around as though it’s obvious that some is and some ain’t, and who they are (sort of like “neocon”).

And what criteria were used to relegate the blogger nominees in this post to that category? For instance, how does Glenn Reynolds make the cut?

Am I one? If so, why?

More on Specialization

Rand observed that “one of [his] biggest mistakes in life was not recognizing early that the most effective way to achieve my goals would have been to get wealthy first, then to apply that wealth toward them”. The basic economics point is that if you earn as much money as possible by specializing in what the economy will pay you the most for, you can often hire a specialist to do far more good with the money you made than you could have doing the good personally.

Another way to state this is doing nice things is fun; nice is an economic good. So if you want a pleasant job, other people who like pleasant jobs will compete and drive the price down until the low pay makes it unpleasant enough to clear the market.

This makes Bill Gates’s career change to spend his fortune a global tragedy worse than the monetary damage of Hurricane Katrina. He is likely to be much closer to average in his ability to make the world better by giving, compared to making the world better by making better software and operating systems.

The salary offered to you for different occupations summarizes what the economy values most from you. Accountants and lawyers may seem less useful than teachers and engineers, but that is a fallacy of confusing the average value of a teacher–which may be very high–to the market price of a teacher which will be much lower if there are lots of people who want to be teachers.

Ultra Capacitors

This technology seems to be moving along pretty well, and it’s one of the revolutions that will constitute a major solution to our energy problems.

This approach allowed the engineers at Standard Oil to build a multifarad device. At the time, even large capacitors had nowhere near a farad of capacitance. Today, ultracapacitors can store 5 percent as much energy as a modern lithium-ion battery. Ultracapacitors with a capacitance of up to 5000 farads measure about 5 centimeters by 5 cm by 15 cm, which is an amazingly high capacitance relative to its volume. The D-cell battery is also significantly heavier than the equivalently sized capacitor, which weighs about 60 grams.

I’ve probably told this story before about innumeracy, even of physics students, and the inability of some to think through a problem. When I was teaching an E&M lab in college, we were doing experiments with capacitors, and someone came up and said, “The lab instructions say to use a microfarad capacitor, but this one says MFARAD instead of (greek letter mu–the symbol for micro)FARAD. I assume it means megafarad. Don’t we have smaller ones?

I explained to him that the largest capacitor I’d ever seen (this was in the late seventies) was a quarter farad, and it took a truck to deliver it. Did he really think that he was holding something in his hand with four million times that capacity?

The article is also a good tutorial on capacitors in general, for those unfamiliar with how they work. The way that I like to think about this is that the positive charge accumulates on one plate, and the negative on the opposite one. They are held in place by their mutual attraction (being opposite charges), but cannot combine because of the insulation gap represented by the dielectric. The more accumulated charge, the higher the attraction (and field force) and accompanying voltage and potential energy. When the plates are allowed to connect to each other through an external circuit, the charges flow toward each other and create current (and power). The breakdown voltage is the voltage at which the gap can no longer restrain the attraction between the two groups of charge, and they jump across it to meet their destiny. This is to be avoided.

[Update a few minutes later]

Sorry, link was slightly mangled (though usable) before. Fixed now.

Get Out The Hankies

Boo hoo.

Numerous young Washingtonians bemoan the improvisational and protracted career track of the area’s public interest profession. They say the high competition for comparatively low-paying jobs saps their sense of adulthood, forcing them to spend their 20s or early 30s moving from college to work to graduate school and back to work that might or might not be temporary.

A couple points. First, the WaPo reporter is obviously sympathetic (not surprising–after all, journalists go into journalism because they too want to “make a difference”). He (or at least the copy editor who wrote the hed) calls them “altruists.” But are they? As Mark Twain once wrote in an extensive essay, no one ever does anything they don’t want to do. These folks engage in this because it makes them feel good. They’re obviously not considering their psychic income when they complain about their compensation.

But the real problem is that many of these policy types, particularly at the NGOs, want to engage in the type of do goodery that the supposed beneficiaries aren’t necessarily asking for, and don’t value that much (or perhaps value negatively). And in the cases in which they do, they don’t necessarily have the money to pay for it.

I’ve devoted a lot of my life to opening up space–a concept that much of the world has been able to do well without, to date (or at least it thinks it can), but I’ve never imagined that I’d make as much money doing it as I would doing things that people really do seem to value, regardless of how important I might think the goal. In fact, one of my biggest mistakes in life was not recognizing early that the most effective way to achieve my goals would have been to get wealthy first, then to apply that wealth toward them, as Elon Musk, John Carmack, Jeff Bezos and others have done.

But their fundamental premise is flawed. Who is it that really changes the world, and for the better?

I would argue that it is the people like Bill Gates, or Henry Ford, or Thomas Edison, or the Wright brothers, who have a much larger and more beneficial effect on the world than people who “want to make a difference.”

Who is more of a humanitarian, a Norman Borlaug, who through his technological efforts saved untold millions from hunger, and even starvation, and was reasonably compensated for it, or an Albert Schweitzer or Mother Theresa, who labored to help a relatively few poor and ill, while living in relative poverty? Obviously the latter derived personal satisfaction from their hands-on retail efforts, but I don’t think that they ever whined about their lifestyle.

These people do in fact need to grow up, and understand that there are other ways to help people than forming non-profits and NGOs, or working for a government bureaucracy. People are helped most by technological advances that make essential items–food, transportation, communication, shelter–more affordable and accessible to them, not by those who provide them with handouts and sympathy, and keep them in a state of perpetual dependency.

In many ways, Sam Walton was one of the great humanitarians of our time, in bringing our nation’s poor closer to a comfortable, middle-class lifestyle, and he seemed to do pretty well by doing good. But don’t expect very many of these idealistic overgrown adolescents to want to emulate him. Actually increasing wealth, for themselves and others, would go against everything they believe.

[Update a few minutes later]

I see that Ann Althouse’s commenters have a lot of thoughts similar to mine.

[Monday morning update]

Well, this post has certainly drawn a lot of commentary (particularly after the Instapundit link).

One clarification. A couple commenters (missing the point by a mile), write:

Lots of animus here for non-science majors… and people who work in charitable fields.

and another (sarcastically):

Teachers suck! Journalists suck! They’re idiots and we hate them! The only worthwhile people are people with degrees in the sciences. Oh, well, most scientists are a bunch of whiny lefties too. So the only really worthwhile people on this planet are the engineers! Yea engineers!

This isn’t about C. P. Snow’s cultural clash, or science being better than liberal arts, or the suckitude of teachers or journalists. It’s about unrealistic expectations, not to mention self righteousness.

I mentioned Sam Walton as someone to be emulated. Last time I checked the man was neither a scientist or an engineer. But he was someone who created vast wealth, not only for himself and his family, but for many of the poorest citizens (and non-citizens) of our nation, because enabling someone to purchase better-quality products for lower prices does in fact increase their wealth.

And journalists and teachers have important jobs to do, and the best are paid far too little, but the mediocre in those professions (who are legion) are probably overpaid. This is one of the reasons that the newspaper industry is dying–if we had a government-run news agency with a powerful national compulsory reporters’ union, they could probably do better at seeking rent, as the NEA has. But then, mediocre reporters would be even more overpaid than now.

The point is that if one wants to seek a degree in history, or French literature, there’s nothing wrong with that, but that they should understand what their job and salary prospects are with those degrees. They should understand that if you’re going to take on a huge student loan, it might be better not to simply follow one’s muse, but to get an education that will enable one to pay off the loan, rather than to simply curse the philistines who unaccountably don’t recognize the value to society of your interests.

And if one wants to be a social worker, or save the whales, they should understand the relative value that society places on those professions. They should also understand that if their goal really is to “make a difference,” or help people, that neither whale saving or social work is necessarily the best profession for that, and unlikely to be a well-compensated one (or at least, as Lennie told Homer when the latter asks if being head of the union pays well, “Only if you’re corrupt.” Homer: “Woo hoo!”).

And if despite that, they really get an endorphin rush from administering welfare checks, or managing Peace Corps workers, they should recognize that as part of their compensation, and that many of their idealistic cohorts do as well, and that the supply of their talent, such as it is, will always exceed demand in the marketplace.

Biting Commentary about Infinity…and Beyond!