In Managing Workers Firms Should “Experiment with New Forms of Freedom”

(p. C1) In a classic 1958 lecture, the philosopher Isaiah Berlin distinguished between two types of freedom. Negative liberty is freedom from obstacles and interference by others. Positive liberty is freedom to control your own destiny and shape your own life. If we want to maximize net freedom in the future of work, we need to expand both positive and negative liberty.

The debate about whether work should be in-person, remote-first or hybrid is too narrow. Yes, people want the freedom to decide where they work. But they also want the freedom to decide who they work with, what they work on and when they work. Real flexibility is having autonomy to choose your people, your purpose and your priorities.

. . .

(p. C2) We need boundaries to protect individual focus time too.

. . .

One effective strategy seems to be blocking quiet time in the mornings as a window for deep work, and then coming together after lunch. When virtual meetings are held in the afternoon, people are less likely to multitask—probably in part because they’ve been able to make progress on their own tasks.

. . .

Flexible work is here to stay, but companies that resist it may not be. One of the biggest mistakes I saw companies make before Covid was failing to experiment with new forms of freedom.

For the full commentary, see:

Adam Grant. “The Real Meaning of Freedom at Work.” The Wall Street Journal (Saturday, Oct. 9, 2021 [sic]): C1-C2.

(Note: ellipses added.)

(Note: the online version of the commentary was updated October 8, 2021 [sic], and has the same title as the print version.)

If Standards of Merit Are Too Narrow, the Solution Is to Improve Them, Not to Reject Merit

(p. A17) In recent decades, . . ., it has become clear that the definition of merit reflected in quantitative standards was too narrow and created new forms of exclusion. This has led some thinkers to reject the idea of merit and view it as an affront to individual equality and social solidarity.

This overreaction is wrong in theory and damaging in practice. Whenever the ability to do a task well matters, so does merit. Our current challenge is not to discard merit, but rather to understand it better—and use this new understanding to extend opportunities to all who can take advantage of it.

For the full commentary, see:

William A. Galston. “POLITICS & IDEAS; Merit Means More Than Grades and Tests.” The Wall Street Journal (Wednesday, July 26, 2023): A17.

(Note: ellipsis added.)

(Note: the online version of the commentary has the date July 25, 2023, and has the same title as the print version.)

Super Agers “Have a Purpose”

I have personally benefitted from Vernon Smith’s longevity, since he graciously wrote two drafts of a positive blurb for my Openness to Creative Destruction book.

(p. A5) Vernon L. Smith, 97, is a very busy man.

The economist at Chapman University just finished writing a book about Adam Smith and works about eight hours a day, seven days a week in his home office in Colorado Springs, Colo. He enjoys chatting with friends on Facebook and attending concerts with his daughter.

“I still have a lot of stuff to do. I want to keep at it,” said Smith, who won the Nobel Prize in economics in 2002.

. . .

(p. A10) Researchers studying “super agers,” people over 80 who have mental faculties of people decades younger, said strong social relationships are important for keeping brains sharp.

The same is true for people who live beyond 100, said Stacy Andersen, a behavioral neuroscientist at Boston University and co-director of the New England Centenarian Study.

“They have a purpose. They have things they want to go out and do every day,” Andersen said.

Smith says his work and his family keep him motivated and driven.

“I want to go to at least 106,” he said.

For the full story, see:

Dominique Mosbergen. “Several Factors Help Ward Off Mental Decline.” The Wall Street Journal (Friday, Feb. 16, 2024): A5.

(Note: ellipsis and bracketed year added.)

(Note: the online version of the story was updated Feb. 15, 2024, and has the title “How to Stay Mentally Sharp Into Your 80s and Beyond.” The last sentence quoted above appears in the online, but not in the print, version of the article.)

My book mentioned above is:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, 2019.

FDA Delays Apple Offering Consumers Quick and Convenient Blood Pressure Readings

Doesn’t the FDA do harm by requiring that Apple watch blood pressure monitor be equal in accuracy to a standard clinical blood pressure monitor? Many people will not take the time and effort to get frequent readings from a standard blood pressure monitor in a clinic. But many of them would check their blood pressure conveniently on their watch. Isn’t a less accurate reading better than no reading at all?

(p. A1) Apple’s widening effort to turn its nine-year-old watch from a luxury timepiece into the ultimate all-in-one medical device is taking it into territory that is legally treacherous as well as potentially profitable.

. . .

(p. A2) “The studies that we’ve seen are not yet reassuring that they’re ready for prime time or for clinical use,” said Jordana Cohen, associate professor of medicine and epidemiology at the University of Pennsylvania.

To secure Food and Drug Administration clearance for selling a blood-pressure monitor, companies must demonstrate through the FDA’s 510(k) process that their device’s accuracy is comparable to an existing, already cleared device, she added.

Similarly, tracking glucose through noninvasive skin sensors is generally less precise than direct blood analysis, with factors such as skin tone and temperature affecting accuracy.

For the full story, see:

Dalvin Brown and Aaron Tilley. “Tech and Legal Hurdles Hinder Apple’s Quest for Medical Watch.” The Wall Street Journal (Friday, Dec. 29, 2023): A1-A2.

(Note: ellipsis added.)

(Note: the online version of the story has the date December 28, 2023, and has the title “Apple Keeps Chasing the Ultimate Health-Tracking Watch—but It Could Take Years.”)

“Discrimination on the Basis of Race, Which DEI Does, Is Literally the Definition of Racism”

(p. B1) Ackman and Musk, two billionaires with wide followings on X, which Musk owns, have . . . taken up the fight against DEI, giving it a bigger platform.

“Discrimination on the basis of race, which DEI does, is literally the definition of racism,” Musk posted in January [2024].

. . .

Ackman has frequently focused on DEI in the context of college campuses, where he says such initiatives foment antisemitism.

For the full story, see:

Tali Arbel. “Diversity Groups Urge Ackman, Musk Pushback.” The Wall Street Journal (Thursday, February 8, 2024): B1 & B10.

(Note: ellipses and bracketed date added.)

(Note: the online version of the story was updated Feb. 7, 2024, and has the title “The Case Against Ackman and Musk’s Anti-DEI Stance.”)

Akio Toyoda Had the Courage to Predict the Current EV Debacle

On Nov. 25, 2022, I ran a blog entry that reported on the severe criticism that then-Toyota-President Akio Toyoda [sic] was receiving for his skepticism that charging infrastructure and consumer preferences were ready for an immediate full switch to electric vehicles. Because he had the courage to keep Toyota focused on hybrids, consumers now have more of what they need and want. As a result Toyota prospers. In a capitalist system, firms run by executives with foresight and courage receive their just reward.

(p. B1) TOKYO—Gasoline-electric vehicles are flying off dealer lots in the U.S. and generating a windfall for the reigning hegemon of hybrids, Toyota Motor.

Toyota on Tuesday [February 6, 2024] forecast a record $30.3 billion net profit for the fiscal year ending March thanks to higher sales of hybrid vehicles in all of its major markets. The results sent Toyota shares up 4.8% in Tokyo to close at a record high.

Hybrid sales grew last year at a faster clip than sales for pure electric vehicles in the U.S. and some other markets. Signs have emerged that the EV push might have gotten ahead of U.S. consumers who are worried about charging problems and higher prices. That has steered them toward less expensive hybrids, which can be filled up with gasoline.

Automakers that had been rushing to pivot toward full EVs are now reconsidering. General Motors said last week it would introduce some plug-in hybrid models in North America after facing pressure from dealers. Ford Motor said last year it would seek to quadruple its hybrid sales in the next five years.

For the full story, see:

River Davis. “Toyota Is Cashing In As Hybrid Sales Boom.” The Wall Street Journal (Wednesday, February 7, 2024): B1-B2.

(Note: bracketed date added.)

(Note: the online version of the story has the date February 6, 2024, and has the title “Toyota Cashes In on Booming Hybrid Sales.”)

Covid Mandates and Firms Restricting Employee Speech Led Democrat to Invest in Tucker Carlson Media Venture

(p. A18) Five years ago, Omeed Malik was a self-described “run-of-the-mill corporate Democrat,” with a seat on the Council on Foreign Relations, a summer house in the Hamptons, and stints at Bank of America and white-shoe law firm Weil, Gotshal under his belt.

Then Covid happened. Chafing under government mandates he found illogical and corporate limits on speech that felt to him like censorship, he moved from Manhattan to Florida and began hanging out with Republican donors. He discovered a business opportunity in a so-called parallel economy of conservative-friendly companies.

Now, he is one of their financiers. Malik this year launched 1789 Capital, which aims to capitalize on the opportunities that it sees left open by the “wokeness” of more traditional sources of capital.

Its first fund, with a modest $150 million, made its initial investment Monday [Oct. 16, 2023], leading a $15 million seed round with other private investors into Tucker Carlson and Neil Patel’s new media company.

For the full story, see:

Keach Hagey. “1789 Invests in Carlson’s Media Firm.” The Wall Street Journal (Wednesday, Oct. 18, 2023): B1-B2.

(Note: bracketed date added.)

(Note: the online version of the story has the date October 17, 2023, and has the title “Tucker Carlson’s Media Company Secures Investment Led by ‘Anti-Woke’ Firm.”)

Did Robbie Fail to Be Oscar-Nominated for Barbie Due to a Powerful Patriarchy, or Might It Be Random, or Even Based on Merit?

(p. A24) And now there is a new Barbie cause to rally around: the Great Oscar Snub and what it all means — and why it is wrong. Neither Margot Robbie nor Greta Gerwig was nominated for her most prominent role: best actress or best director, respectively.

. . .

But hold on. Didn’t another woman, Justine Triet, get nominated for best director (for “Anatomy of a Fall”)? As for “Barbie,” didn’t Gerwig herself get nominated for best adapted screenplay and the always sublime America Ferrera get nominated for best supporting actress? A record three of the best picture nominees were directed by women. It’s not as if women were shut out.

Every time a woman fails to win an accolade doesn’t mean failure for womanhood. Surely women aren’t so pitiable as to need a participation certificate every time we try. We’re well beyond the point where a female artist can’t be criticized on the merits and can’t be expected to handle it as well as any man. (Which means it still hurts like hell for either sex — but not because of their sex.)

For the full commentary, see:

Pamela Paul. “‘Barbie’ Is Bad. There, I Said It.” The New York Times (Friday, January 26, 2024): A24.

(Note: ellipsis added.)

(Note: the online version of the commentary has the date Jan. 24, 2024, and has the same title as the print version.)

Democratic Politicians Are More Tolerant of Illegal Immigration Than Are Democratic Voters

(p. A10) Before Trump ran for president, Democrats tended to combine passionate support for many forms of immigration with a belief in strong border security. But Trump’s harsh anti-immigration stance pushed the party toward the opposite end of the spectrum.

Today, many Democratic politicians are willing to accept high levels of undocumented immigration and oppose enforcement measures that the party once favored. Some Democrats, especially on the left, argue that the government doesn’t even have the power to reduce migration much.

This shift has created political vulnerabilities for Democrats — because most Americans are closer to the party’s old position than to its new one.

. . .

Even with all their current concerns, Americans are not opposed to immigration. Most say that legal immigrants strengthen the country, and many believe the U.S. should remain a haven for people fleeing repression. But most Americans also think that the country’s immigration laws should mean something and that citizens of other countries should not be able to enter this country simply because they want to.

For the full commentary, see:

David Leonhardt. “Democrats Are Out of Step With Public Opinion on Immigration.” The New York Times (Friday, January 19, 2024): A10.

(Note: ellipsis added.)

(Note: the online version of the commentary has the date Jan. 17, 2024, and has the title “A 2024 Vulnerability; The Democrats are out of step with public opinion when it comes to immigration.”)

A Miraculous Machine in the Middle-Ages That Did Nothing to Improve the Lives of the Masses

Before the industrial revolution clever inventors sometimes devised elaborate and amazing machines. The Antikythera mechanism is a famous example. Though these machines amaze us, they usually did little to improve the lives of those who lived at the time of invention. Why? Maybe the answer is that just before the industrial revolution, entrepreneurs were encouraged and enabled (through property rights and patents) to apply amazing inventions to the betterment of the people.

(p. C9) What kind of a book do we have in “Miracles and Machines: A Sixteenth-Century Automaton and Its Legend”?

. . .

The authors call the book a “clockwork”; its many disparate parts are joined in scrupulous devotion to a 16th-century automaton—an object, they write, which is at once “a sculpture, a machine, an icon, and a messenger.”

The figure is of a Franciscan friar, about 16 inches tall, carved out of wood, cloaked in a modern replica of the garb he once wore. His 5-pound weight is due to an intricate iron mechanism that fits inside his wooden body; it is wound with a key.

. . .

Imagine, Ms. King and Mr. Todd suggest, what it would have been like to see this automaton at the time of its creation. He is placed upon a candlelit table. His feet take steps under his tunic—but he actually glides on three wheels, making his movement seem ethereal. He is deliberately slow. This is not a mechanism meant to thrill us with speed and virtuosity. His movements are graceful, solemn.

As he moves, the friar raises and lowers a cross in his left hand and strikes his chest with his right, as if declaring “mea culpa.” He also lifts the cross to his lips and fixes his gaze steadily, perhaps at an observer at the opposite end of the table. He looks down at the cross, up at the observer, and begins to turn: “You let out half a breath,” the authors tell us, “but as his full body pivots on the table, feet in motion, head forward, his eyes slide left in their sockets to stay fixed on you!” Then he changes direction, staring at what might be another observer. There is no doubt about his seriousness; the impact on believers, in the half-light, would have been considerable.

. . .

In seeking to learn more about the friar’s provenance, Ms. King contacted Servus Gieben, a Dutch-born Franciscan who served as the director of the Franciscan Museum in Rome. In his correspondence with Ms. King, Gieben, who died in 2014, reaffirmed his theory that it may have been commissioned by Philip for his son Carlos. In 1562, at the age of 17, Carlos fell down a flight of stairs and so gravely injured his skull that he was not expected to survive (either the injury or the era’s “treatments”).

. . . The corpse of a Franciscan friar, Diego de Alcalá (ca. 1400-63), had remained free of decay after his death that it was thought to have healing powers. And behold: Once it was laid upon the dying prince, Carlos soon began to recover. Philip II spent 26 years petitioning four consecutive popes to recognize the miracle and declare Diego a saint. (He ultimately was, as the city of San Diego now affirms.)

Gieben suggested that the facial resemblance between the automaton and Diego was evident. And what better way, he thought, for Philip to honor Diego than by providing his often wayward son with an admonitory reminder in the form of the penitential friar himself, created by the most brilliant clockmaker in the empire. As Don Carlos was brought back to life, so an inanimate automaton would turn animate.

Even today, the authors suggest, the friar remains “a small miracle. Or the image of a small miracle. Or the metaphor of a large miracle. Or an artificial miracle.”

For the full review see:

Edward Rothstein. “A Wonder of Another Age.” The Wall Street Journal (Saturday, December 23, 2023): C9.

(Note: ellipses added.)

(Note: the online version of the review has the date December 22, 2023, and has the title “‘Miracles and Machines’ Review: Mystery of the Clockwork Man.”)

The book under review is:

King, Elizabeth, and W. David Todd. Miracles and Machines: A Sixteenth-Century Automaton and Its Legend. Los Angeles: Getty Publications, 2023.

Economists’ Models of Growth and Inflation Predicted a Recession That Has Not Happened; So “Economists Can Learn a Huge, Healthy Dose of Humility”

(p. B1) Many economists spent early 2023 predicting a painful downturn, a view so widely held that some commentators started to treat it as a given. Inflation had spiked to the highest level in decades, and a range of forecasters thought that it would take a drop in demand and a prolonged jump in unemployment to wrestle it down.

Instead, the economy grew 3.1 percent last year, up from less than 1 percent in 2022 and faster than the average for the five years leading up to the pandemic.

. . .

(p. B3) . . . what is clear is that old models of how growth and inflation relate did not serve as accurate guides.

. . .

“It’s not like we understood the macro economy perfectly before, and this was a pretty unique time,” said Jason Furman, a Harvard economist and former Obama administration economic official who thought that lowering inflation would require higher unemployment. “Economists can learn a huge, healthy dose of humility.”

. . .

Many economists previously thought that a more marked slowdown was likely to be necessary to fully stamp out rapid inflation. Mr. Summers, for instance, predicted that it would take years of joblessness above 5 percent to wrestle price increases back under control.

“I was of the view that soft landings” were “the triumph of hope over experience,” Mr. Summers said. “This is looking like a case where hope has triumphed over experience.”

. . .

“I would have thought that it was an iron law that disinflation is painful,” said Laurence M. Ball, a Johns Hopkins economist who was an author of an influential 2022 paper that argued bringing down inflation would probably require driving up unemployment. “The broad lesson, which we never seem to completely learn, is that it’s very hard to forecast things and we shouldn’t be too confident, and especially when there’s a very weird, historic event like Covid.”

For the full story, see:

Jeanna Smialek and Ben Casselman. “How Experts Got It Wrong On Economy.” The New York Times (Saturday, January 27, 2024): B1 & B3.

(Note: ellipses, and bracketed date, added.)

(Note: the online version of the story has the date Jan. 26, 2024, and has the title “Economists Predicted a Recession. So Far They’ve Been Wrong.”)